Press Release
TII hosted East Asia Pacific Insurance Forum 2025 – Tapping Into the Power of AI Ecosystem
The "East Asia Pacific Insurance Forum 2025," organized by the Taiwan Insurance Institute (TII), was notably held on August 21 at the Chang Yung-Fa Foundation International Convention Center. This year’s theme, “Tapping Into the Power of AI Ecosystem,” brought together over 275 insurance professionals, regulators, and scholars from the US., Japan, Korea, Singapore, and Taiwan to discuss the applications, opportunities, and challenges of artificial intelligence (AI) in the insurance market, building a new blueprint for the industry’s digital transformation and sustainable development.
TII has organized the Forum since 2018, missioned to establish a platform for exchanges and interactions between insurance organizations, associations in Asia-Pacific as well as insurance industry in Taiwan. The Forum, with TII’s MoU partners the National Association of Insurance Commissioners (NAIC) of USA, General Insurance Institute of Japan (GIIJ), and Korea Insurance Development Institute (KIDI) engaging as Associate Partners, received strong support from Taiwan’s insurance sector. The event was marked by vibrant exchanges, with domestic and international experts actively participating and sharing insights.
In her opening remarks, Ms. Hsou-Yuan Chuang, Vice Chairperson of the Financial Supervisory Commission (FSC), emphasized that Taiwan, leveraging its global leadership in the semiconductor and ICT sectors, is promoting the development of an innovative AI ecosystem supported by diverse supply-chain applications and a world-class open data environment. While Taiwan's insurance market has one of the highest penetration rates globally, evolving social and economic structures, coupled with financial market uncertainties, have brought new challenges to the insurance value chain and risk management practices. To align with international regulatory trends, the FSC has issued the Guidelines for Artificial Intelligence Applications in the Financial Industry and the Self-Discipline Rules for the Use of Artificial Intelligence Systems in the Insurance Industry. These initiatives aim to guide the financial and insurance sectors in responsibly applying AI technologies to deliver services that better meet public needs, while ensuring effective risk control, consumer protection, and the safeguarding of digital rights for vulnerable groups—thereby fostering both technological innovation and market stability.
Dr. Hong-Chih (Jerry) Huang, Chairman of TII, stated that in recent years, AI and digital technologies have profoundly transformed the operating models and value chains of the insurance industry, demonstrating significant potential in customer service, risk assessment, underwriting, claims, and asset allocation. However, the industry must also address challenges such as data governance, algorithmic precision, cybersecurity threats, and regulatory adaptation. He hoped that this year’s full-day program, designed from a macro perspective to practical applications, would inject new momentum into the industry’s transformation in the AI era, building a new paradigm that balances protection and trust.
The Forum featured a well-curated agenda. In the morning, Mr. Andrew N. Mais, Vice Chair of the IAIS Executive Committee, NAIC Past President and Commissioner of the Connecticut Insurance Department, delivered the keynote “Shaping AI Governance in the Insurance Industry: Global Insights and Perspectives.” This was followed by Mr. Dickson Wong, Director of the Global Asia Insurance Partnership (GAIP), on “A Holistic Approach to the Protection Gap in the Age of AI,” and Mr. Hiroyuki Gotoh, President of the GIIJ, who shared “Big Data in EV Insurance– Perspectives from Japan.”
The afternoon sessions included Ms. Hyewon Cho, Department Head of the Non-Life Insurance Division at KIDI, presenting “Cyber Insurance in the Age of AI– Experience from Korea,” and Dr. Pei Yin from BlackRock, who spoke on “Technology Adoption for the Insurance ALM Value Chain.” The final roundtable discussion, “Tech x Inclusion, Insurance New Paradigm,” moderated by Dr. Linus Chan, President of TII, brought together Mr. Jiunn-Shiow Lin, Director General of the Administration for Digital Industries at the Ministry of Digital Affairs (MODA), Dr. Morgan M.H. Hsieh, Professor at National Chengchi University (NCCU), and Dr. Chen-Hsu Liao, Vice President of Shin Kong Life Insurance, to explore generative AI, federated learning, and public-private partnerships for enhancing cybersecurity and anti-fraud capabilities.
Concluding after the sparks of dialogue in the roundtable session, the Forum concluded on a rewarding note, with participants expressing hopes to work together in the future to drive innovation that balances governance, consumer protection, and inclusion, injecting positive and sustainable momentum into the development of the insurance industry.
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