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We have enjoyed a thought -provoking session covering all relevant grounds on the current state of paly of HK’s, with an added take on the GBA:
Following items were discussed by the committee:
- Post-COVID Insurance Premium Changes:
- how insurance premiums have shifted in response to the pandemic.
- implications for insurers and policyholders.
- Insurance Density Shifts in HK and China:
- Analyzed changes in insurance density (coverage per capita) in Hong Kong and China.
- Discussed opportunities arising from these shifts, especially within the Greater Bay Area (GBA).
- IA’s Strengthened Role:
- Discussed the evolving role of the Insurance Authority (IA) in enforcement and regulation and its impact on the industry.
- Rising Claims, Healthcare Focus:
- Examined the surge in insurance claims, particularly in healthcare.
- Identified opportunities for InsurTech companies to address these challenges.
- Data Integration in the GBA:
- Explored how data integration can enhance insurance services and highlighted manifold opportunities, especially in the healthcare insurance market.
- Cyber Insurance Trends:
- Discussed the growing importance of cyber insurance and addressed risks and opportunities in this domain.
- Near-Term (Gen)AI Use Cases:
- Delved into practical applications of artificial intelligence (AI) in the insurance market.
- Highlighted real-world examples and potential benefits.
A big Thank You to DLA Piper for hosting us and sharing their thoughts on HK’s Insurance and InsurTech market that anchored the committee meeting.
