Insurance Authority shares regulatory insights at the Hong Kong FinTech Week

On October 29, 2024, the Insurance Authority (IA) launched the InsurTech Forum in collaboration with Invest Hong Kong during FinTech Week 2024, aimed at facilitating dialogue among industry leaders and tech experts. CEO Clement Cheung emphasized the urgent need to address climate change and cybersecurity risks while discussing initiatives like the Cyber Resilience Assessment Framework and a survey on AI adoption in insurance. He highlighted the importance of combining AI’s capabilities with human oversight and expressed the IA’s commitment to establishing a flexible regulatory framework for ethical AI use. The forum included discussions on AI, data analytics, and future innovations.

Resources: https://www.ia.org.hk/en/infocenter/press_releases/20241029.html