The Director-General of Investment Promotion at Invest Hong Kong (InvestHK), Alpha Lau, stated during an event today (Dec. 4) that they have recognized the development potential of insurtech. Therefore, they have committed to supporting the industry's growth, including assisting companies seeking expansion opportunities in Hong Kong by providing free professional services such as market entry guidance and introductions to potential partners and investors.
Lau encouraged foreign investors to consider Hong Kong as a gateway to the Asian insurtech market, believing that there is strong demand for innovative insurance products in the region and significant market potential.
She noted that this year, the Insurance Authority introduced a risk-based capital regime for the insurance sector, which not only strengthens the financial stability of the industry but also facilitates alignment with international standards and enhances the culture of risk management within the sector.
She believes that the future development of insurtech requires collaboration among stakeholders, including traditional insurance companies, technology firms, and regulatory bodies, to establish a robust and efficient insurance ecosystem.
"InvestHK will continue to strengthen cooperation with stakeholders such as the Financial Services and the Treasury Bureau, the Insurance Authority, and Cyberport to enhance innovation in the insurance industry."
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