The institute's call to action comes as recent cybersecurity incidents at financial institutions exposed the risks posed by internet-facing systems and third-party connections.
A new working group will help shape Hong Kong's specialty insurance strategy as the city pursues growth in captives, ILS, marine risks and other lines.
However, only around 1 in 10 life and health policies are purchased through direct digital channels, as buyers continue to seek human advice before committing.
Policyholders of Cigna, Great Eastern, HSBC Life, Income Insurance, Singlife and Tokio Marine among those affected by the attack on the third-party administrator.
Set to launch in November 2026, the policy will be reviewed and expanded over time to align with technological advancements and the adoption of AI across society.
He previously spent five years at Willis Re and later led Peak Re’s global life and health business before running his own advisory firm, Eigengrey Consulting.
