【Recap of Asia Insurance Brokers' Summit】1: Mr. Sidney Ku: where is the direction of traditional insurance industry with rising insurance technologies?
From March 13th to 14th, AMTD Strategic Capital Group, the largest local insurance broker in Hong Kong and the subsidiary of AMTD Group specializing in insurance brokerage and risk solutions business, joined hands with "Asia Insurance Review", the most influential insurance sector magazine in Asia, to co-organize the 6th Asia Insurance Brokers' Summit in Kuala Lumpur, Malaysia.
On March 13th, Sidney Ku, CEO of AMTD Strategic Capital Group, shared the key essentials to achieve sustainable success in an environment of continuous innovation and fierce competition during the panel discussion on “Brokers as Partners”. Other heavyweight guests participating in this panel include Abdul Halim Jantan, CEO of Sterling Insurance Brokers; Robert Kelly, Managing Director and CEO of Steadfast Group; Y.M Raja Zailan Putra, Chairman of the Malaysian Insurance and Takaful Brokers Association (MITBA) and Purandar Bhavani, Director of India Insure Risk Management & Insurance Broking Services.
During the round table discussions, senior insurance practitioners enthusiastically shared their views on the pressing issues in the ever-changing market, including how insurance brokers can stand out while facing heavy supervision, especially in the situation of different cross-industry and cross-regional regulatory systems. Sidney Ku, CEO of AMTD Strategic Capital Group, shared his opinion: “A responsible intermediary should maintain its professionalism when acting as an agent of customer interests, but the rules and regulations should not become the obstacle preventing an insurance broker from adding value to the industry or the entire society. In this position, integrity has become a core element - insurance brokers should propel business while complying with regulatory requirements, and not jeopardizing honesty."
Sidney Ku further stated that “science and technology have undoubtedly brought challenges to intermediary agencies, but at the same time it has created considerable opportunities. The cooperation of all parties in the industry value chain is one of the key factors in seizing the opportunity of InsurTech.”
In addition, Sidney Ku further elaborated the idea that “Hong Kong is the window to Mainland China. Insurance brokers should leverage its geographical advantage to expand related businesses globally. We should emphasize the importance of cooperation among small insurance brokers, as this can be the most effective use of insurance resources to maximize operation efficiency."
Under the theme of “The Digital Savvy Broker: Finding a Secure Sustainable Niche in the Future of Insurance”, the summit aims to explore a way for the insurance brokerage industry to achieve stable and sustainable development through digital empowerment in current environment in which the industry is generally exposed to external competition and changes in technology.
As the largest local insurance brokerage and risk solutions company headquartered in Hong Kong, AMTD Strategic Capital Group has always actively participated in promoting the rapid development of the Asian insurance industry. Through this Asia Insurance Brokers' Summit jointly organized with the Asian Insurance Review, AMTD will further promote communication and exchanges in the industry and lead the industry toward a more sound development.