The HKUST Business School organized the Insurance Industry Dialogue: Insurtech Talent and the Real Game Changer to gather passionate industry leaders from traditional and virtual insurers, the regulator, and professional associations to discuss the talent needs arising from the latest trends and opportunities in the expanding insurance landscape and chart the path ahead for the industry.
(From left) Moderated by Prof. TAM Kar Yan, Dean of HKUST Business School, the Industry Dialogue featured Ms. Selina LAU, Chief Executive of the Hong Kong Federation of Insurers (HKFI); Ms. Winnie WONG, CEO and Executive Director of Asia Insurance Company Limited and Avo Insurance Company Limited; Mr. Tony CHAN, Associate Director, Policy and Development Division of the Insurance Authority (IA); and Mr. Eric HUI, CEO of Zurich Insurance (Hong Kong) and Chairman of Zurich General Insurance Company (China).
The event was well received by industry participants engaging onsite and online, locally and overseas. As the industry is heading progressively towards digital opportunities and global insurance trends, the discussion explored the talent needs in digitalization and emerging areas such as environmental, social, and corporate governance (ESG), green insurance, climate risk management, and cross-border insurance services.
Highlights were also put on the long-standing manpower shortage challenge of the insurance industry, with panelists offering their expert perspectives on talent attraction and recommendations for Hong Kong to claim its position as a regional insurance hub and a global risk management center. Ms. Selina LAU, Chief Executive of the HKFI, mentioned that the industry should step up communication to uplift the industry’s image and attractiveness to the younger generation.
“The industry should showcase successful good cases to demonstrate Hong Kong’s digital capabilities and build digital goodwill for the city, which is crucial for distinguishing Hong Kong from others,” said Mr. Eric HUI, CEO of Zurich Insurance (Hong Kong) and Chairman of Zurich General Insurance Company (China). “On talent attraction, besides capturing talents from Mainland China, international talents are equally important in helping Hong Kong strive towards an international risk center as they have the skills, network, and access to capital which can connect Hong Kong to the global market,” he added.
The Industry Dialogue has complemented the Business School’s ongoing industry-wide study on insurance technology (insurtech) talent development. A report on the subject will be published later this year for the industry’s reference.