Year 2023 - Continuing the Legacy 30 Years of Expertise Moving Forward 薪火傳承三十載專業邁向新里程

8 2022 年刊與 2023 展望 YEARBOOK 2022 & PROSPECT 2023 專題探討 FEATURE Continuing the Legacy: 30 Years of Expertise, Moving Forward Congratulations on the 30 th anniversary of the Hong Kong Chamber of Insurance Intermediaries (HKCII). On this monumental occasion, we wish HKCII many more successes in the future. Thirty years ago, professionals in the insurance industry witnessed the establishment of HKCII, which united the elites of insurance intermediaries, consisting of a cohort of insurance agents and brokers, to form an industry body and pool ideas, and make contributions to its members, the industry and community. Over the past years, HKCII has been continuously supporting the positive development of Hong Kong’s insurance industry. The insurance landscape is complex, and navigating it requires comprehensive understanding and expertise. Insurance intermediaries play a vital role in providing customers with tailor-made insurance solutions, and the main premise is to protect the interests of customers against unexpected financial losses, especially in times of uncertainty. With the trust and confidence gained from the consumers and businesses over time through delivery of professional services, insurance intermediaries have established their status as one of the key stakeholders in the insurance industry. In recent years, the insurance industry is indeed undergoing a significant transformation due to the unprecedented advancement in artificial intelligence (AI) and digital technology. Digital channels have redefined customer interactions, and AI is reshaping processes, driving efficiencies, and informing risk assessments. Despite the challenges from the AI and digital innovations, insurance intermediaries remain a critical part of the insurance ecosystem, continuing to offer indispensable value to customers, by providing professional personal advice and ensuring adequate protection arranged for the customers at a reasonable cost. Insurance intermediaries can strengthen their market position by enhancing their knowledge and capability through lifelong learning and professional development. Strategically, insurance intermediaries can further reinforce their presence in the marketplace by embracing AI technology, staying up-to-date with industry developments, specializing in niche markets, and prioritizing customer relationship and communication. As having the power to deliver great social benefits, insurance intermediaries can also add value to the market. While environmental, social and governance are the rising strategy promoted by the Government, insurance intermediaries are particularly well-placed to advise customers on insurance products available to support sustainability and help find green products for the customers. From the perspective of the Hong Kong Qualifications Framework (HKQF), to continue the legacy, to pass on the expertise, education and training is a must. HKQF focuses on improving the overall education and training environment for people in Hong Kong, and facilitates the knowledge and skills transfer by building a solid infrastructure with quality-assured qualifications that supports progression and fosters professionalism. HKCII can join force with HKQF which provides a platform for industry stakeholders, learners as well as education and training providers to work together, to ensure that the education and training programmes are quality-assured and can address the needs of the industry, and to equip practitioners with the knowledge and skills required by the industry that help enhance the professionalism of the industry.