openPR Logo
Press release

Governance, Risk and Compliance-The Hong Kong Insurance Industry: Ken Research

10-11-2018 02:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Ken Research Pvt Ltd

Governance, Risk and Compliance-The Hong Kong Insurance

Due to disruption in the market, technology and innovation coupled with consumer expectation, the insurance industry in Honk Kong is dynamic and ever changing. More focus is given to sales, bottom – line profitability and competing with new entrants. Major insurers in Honk Kong are facing a sharp increase in their gross premiums. This was mainly attributed to higher sales in bancassurance and broker channels. Of recently, Honk Kong’s Insurance Authority launched flagship programs called the Sandbox and Fast Track which opened gates for many insurers to lesser regulations in their operations and paved way for collaborations with insurtechs in an encouraging manner. These initiatives will help Honk Kong keep pace with China’s speed of innovation in insurance. Sandbox gives an encouraging environment for insurers to innovate their services without having to be subject to full compliance with Insurance Authority.
Honk Kong has one of the world’s longest life expectancies and this can pave way for innovations in the field of life insurance. Since the people of Honk Kong are highly tech – savvy, it puts the insurers in a position to provide advanced – stage insurance products to keep up with their expectations. This year is expected to be high - lighted with innovation in insurance, whereas speed and adaptability are the key elements to succeed in the market. Though insurtech is new in the market, the insurers and the people are showing high levels of acceptance. Among the insurers who already have adapted to digitalisation and innovation in their services, it was observed that data analytics have been used to study monitor and provide personalised solutions to the clients. Customer centric approach is a priority to many insurers. Chatbots with AI have been employed by various insurers; rigorous training and development has also been given to the employees to help them innovate with customer and user centric approaches as their motto.
Ken Research’s Governance, Risk and Compliance-The Hong Kong Insurance Industry provides an overview of the insurance regulatory framework in Honk Kong. It gives the latest key changes, and changes expected in the country's insurance regulatory framework. The report provides key regulations and market practices related to different types of insurance product in the country and rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Honk Kong. The key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations and details of the tax and legal systems in the country are detailed in the report.
To know more, click on the link below:
https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/hong-kong-insurance-industry/156669-93.html
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ken Research is a Global aggregator and publisher of Market intelligence research reports, equity reports, data base directories and economy reports. Our market research reports provides market sizing analysis, insights on promising industry segments, competition, future outlook and growth drivers in the space. The company is engaged in data analytics and aids clients in due-diligence, product expansion, plant setup, acquisition intelligence to all the other gamut of objectives through our research focus.

Ken Research Pvt. Ltd. Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, Sector 49 Gurgaon, Haryana - 122001, India

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Governance, Risk and Compliance-The Hong Kong Insurance Industry: Ken Research here

News-ID: 1296162 • Views:

More Releases from Ken Research Pvt Ltd

Increase in cybercrime results in India Digital Forensic Market to rise, with an expected CAGR of ~16% by 2028
Increase in cybercrime results in India Digital Forensic Market to rise, with an …
With the rise in digital threats and cybercrimes, India Digital Forensic Market makes successive changes like integration of Artificial Intelligence, and marking its overall growth. STORY OUTLINE Using techniques like Data Recovery, Log Analysis and more, India Digital Forensic Market enhances its Computer Forensics. Upgrades towards Network and Mobile Forensics are improving in cyber threats prevention, marking its increase in efficiency and security. With the incorporation of Cloud Based services, advanced methods and easy
Global Health Insurance market is expected to grow at a CAGR of ~6% by 2028: Ken Research
Global Health Insurance market is expected to grow at a CAGR of ~6% by 2028: Ken …
Due to recent pandemic of Covid 19 health insurance market has grabbed growth ensuring economic help to comman man for better health care facilities with easy money handling and increasing awareness especially after COVID 19. STORY OUTLINE Launch of new policies, mergers, acquisitions and partnerships to propel growth in future Covid 19 has a huge impact on the health insurance market on Global level. Factors, which are responsible for the growth, are the higher
Exploring the Investment Landscape in the UK Agricultural Equipment Market
Exploring the Investment Landscape in the UK Agricultural Equipment Market
Anticipated to achieve a CAGR of approximately 3.5% (2022-2027), the UK's agricultural equipment market expanded between 2014 and 2018, yet faced a significant downturn in 2019-2020 due to COVID-19. STORY OUTLINE The investment landscape in the UK agricultural equipment market is diverse, offering a spectrum of opportunities from established manufacturers to startups driving disruptive change. Investors can benefit from the technological prowess of leading manufacturers like John Deere, CNH Industrial, and AGCO Corporation
Unveiling the Thriving Landscape of UAE's IT Service Market
Unveiling the Thriving Landscape of UAE's IT Service Market
The IT services sector encompasses a diverse range of offerings, including but not limited to Cloud services, Cloud Applications, Datacenters, Artificial Intelligence (AI), Consulting Services, Connectivity Solutions, Security services, and other related services. STORY OUTLINE Digital Transformation Drive: UAE's IT market thrives on visionary government initiatives like "Smart Dubai" and "UAE Vision 2021," spurring sectoral evolution. Cloud's Ascendancy: Rapid cloud adoption, coupled with AI, IoT, and blockchain, reshapes industries for scalability and innovation. Security

All 5 Releases


More Releases for Kong

Hong Kong Wealth Management Market Report- Business Review, Technology, Top Comp …
Hong Kong Wealth Management Market research report helps in gathering and analysing useful insights such as global market size, forecast and Compound Annual Growth Rate (CAGR) of a particular industry. It also helps in determining the market status, future prospects, growth opportunity, main challenges about the market for any industry. Hong Kong Wealth Management Market research report also provides complete analysis of the industry, current market trend, overview of the
The Baby Food Market in Hong Kong Experience Billion$ Growth in 2019 | Friesland …
The Baby Food Market in Hong Kong, 2019 is latest pipeline review released by HTF MI to provides comprehensive information on the therapeutics under development for The Baby Food, complete with analysis by stage of development, drug target, root cause analysis ,mechanism of action (MoA), route of administration (RoA) and molecule type. Get Access to Sample PDF @: https://www.htfmarketreport.com/sample-report/1740247-the-baby-food-market-15 Baby Food segment amounts to US$ 3.827B in 2019. The market is expected
Hong Kong Telecom Market 2017: Key Players – China Mobile Hong Kong, SmarTone, …
SUMMARY WiseGuyReports published new report, titled “Hong Kong: Country Intelligence Report” "Hong Kong: Country Intelligence Report", a new Country Intelligence Report by provides an executive-level overview of the telecommunications market in Hong Kong today, with detailed forecasts of key indicators up to 2022. Published annually, the report provides detailed analysis of the near-term opportunities, competitive dynamics and evolution of demand by service type and technology/platform across the fixed telephony, broadband, mobile and
Hong Kong National Film Festival
On May 27, 2017 in the Kowloon Walled City (Hong Kong) the annual Hong Kong National Film Festival was held. This event featured 13 films in various genres: drama, documentary, animated film, etc. None of the participants of the Hong Kong National Film Festival were deprived of attention! The winners were awarded certificates, and all those who were a little less lucky this year were awarded memorable prizes and awards. The
Country Snapshot: Hong Kong; Overview of the consumer payments market in Hong Ko …
Summary Hong Kong represents a mature payment card market in Asia, with 25 million payment cards in issue and a population of over 7 million. Despite a high card per customer ratio, Hong Kong is expected to see mild growth in both card numbers and the value of transactions in the coming years. Key Findings – Pay-later cards are the fastest growing payment card segment in Hong Kong, mostly driven by the popularity
Equities First Holdings Hong Kong Limited Receives Reconfirmation of Hong Kong M …
The Hong Kong Money Lenders License was granted by the Hong Kong Eastern Magistrates Courts. Hong Kong, China -- Equities First Holdings Hong Kong Limited, the Asian subsidiary of Equities First Holdings, LLC (EFH, http://www.equitiesfirst.com) a global securities-based lender and a leader in alternative shareholder financing solutions, has received reconfirmation of its Hong Kong Money Lenders License from the Hong Kong Eastern Magistrates Courts. This license enables EFH to act as a