Overview of IIFRA

In May 2012, Taiwan Insurance Institute (TII) with Korea Insurance Development Institute (KIDI), General Insurance Rating Organization of Japan (GIROJ), Insurance Premium Rating Bureau of Thailand (IPRB) and Insurance Service Malaysia Berhad (ISM) held the Asian Ratemaking Organizations Conference in Seoul in order to exchange opinions and information. Besides, these organizations reached an agreement to alternately convene an annual forum for Asian countries. The concept of the IIRFA was thus founded. Currently, there are 8 Asian ratemaking and/or statistical organizations including 5 beginners plus Insurance Information Bureau of India (IIB), Insurance Association of China (IAC) and Indonesia Financial Services Authority (Otoritas Jasa Keuangan - OJK).

The objectives of the IIRFA are to advance the sound development of the insurance business in Asia and to protect the interested of policyholders through the exchange of information and knowledge on the practical matters related to operations of ratemaking and/or statistical organizations.