Year 2021 - CHALLENGES OF COVID-19 AND SOLUTIONS FOR INSURANCE INDUSTRY 保險業在新冠疫情下的挑戰與應對方案

33 2020 年刊與 2021 展望 YEARBOOK 2020 & PROSPECT 2021 2021 年會長的話 PRESIDENT 2021 MESSAGE Being an insurance professional, I am sincerely value the opportunity to become the President of Hong Kong Chamber of Insurance Intermediaries (HKCII) 2021 and proud of this position. I would like to thank you for the support and trust from the current HKCII Executive Committee and other Senior Members in HKCII. The outbreak of coronavirus disease caused severe disruptions to a wide range of economic activities and dampened economic sentiment that gave me a strong vision to revive economy with start from our Industry. Both Life and Non-Life Insurance sectors face different challenges in this year such as the numbers of potential life insurance customers from mainland China reduced, the local SME downsizing and the insured value for different classes of insurance decreased. In order to protect the interest of our members, promote the professional image for our industry and formulate the strategies to manage the coming challenges in the current difficult situation, HKCII will take pro-active attitude to communicate with the Regulator and our Industry Representative in Legislative Council for establishing necessary strategies to improve our business opportunities with focus on insurance intermediary long term survival and development. In the future, we will continue to allocate more resources at the following key activities to ensure our industry success in the long run. The support from our members and the industry are extremely important. • Education and Training • Professional Image Promotion • Industry Trade Issues and Regulations Technology is unable to replace a professional insurance Intermediary but the development of InsurTech will definitely become a motivation of our professionalism and technology base underwriting, distribution and claims management are the necessary support for a professional Insurance Intermediary. Change is forever but we can adopt the change and turn challenges to opportunities. Given our industry is important to the risk management of the society, I do believe that insurance intermediary will have a very positive and better future with highly respect in Hong Kong. Lastly, I wish all industry practitioners best of luck in reaching the top of your business and good health for you and your family members. Let's work together and fight for the future. Dr. Tony Lee HKCII President 2021