East Asian Insurance Day
（Oct. 15, 2018）
One of the most important activities of the General Insurance Association of Japan (GIAJ) is to promote mutual understanding and interchanges with overseas general insurance markets through the exchange of information and opinions, including active participation in the East Asian Insurance Congress (EAIC), which is the biggest international insurance conference in Asia.
On the occasion of the East Asian Insurance Day, which was launched in 2006 by the EAIC to help the public gain a better understanding of the role of insurance in East Asia, Mr. Keiji Nishizawa, the Chairman of the GIAJ has delivered a message both at home and abroad.
In addition, we are delighted to share with you a message from Mr. Yong-Duk Kim, the Chairman and CEO of the General Insurance Association of Korea(GIAK).
Greetings in commemoration of the East Asian Insurance Day
To commemorate “East Asian Insurance Day” (October 18), which was established by the East Asian Insurance Congress (EAIC), I would like to send my heartfelt greetings on behalf of the General Insurance Association of Japan (GIAJ).
The EAIC, which held its first congress on October 18, 1962, plays an important role in facilitating discussions on common issues in local markets. Participants at the 29th EAIC held in Manila in May 2018 explored such issues under the theme of "Managing Disruptions, Driving Change". In this era of accelerated technological advancement and its possible effects on our industry, our lives and society as a whole, EAIC members and insurance specialists sought and shared ideas on how the insurance industry could move forward effectively.
On East Asian Insurance Day, the GIAJ will implement the following initiatives to promote the role and importance of insurance as well as the activities of the EAIC.
1) Exhibit displays in the GIAJ building to introduce the purpose, history and activities of the EAIC to our visitors.
2) Utilise the GIAJ’s website and insurance business publications for communication and public affairs.
We hosted the ISJ Overseas Seminar in Yangon, Myanmar on September 6 and 7, 2018. Every year since 1972, the GIAJ has been hosting the Insurance School (Non-Life) of Japan (ISJ), an international insurance technical assistance program for industry professionals in East Asia. The ISJ was established in response to an EAIC request and a recommendation by the United Nations Conference on Trade and Development (UNCTAD).Additionally, we proposed a support plan to Myanmar and dispatched one of our Japan International Cooperation Agency (JICA) experts in August this year.
This year (2018) has been plagued with unusual levels of destruction: Japan has been struck by numerous natural disasters, including but not limited to earthquakes, floods, and typhoons. The East Asian region also faces greater and more intense natural disasters. While various opinions on climate change and its potential effects on natural disasters are shaped, what is certain is that we must prepare for catastrophic events beyond what our current data predicts and the assumptions we have made.
In light of uncertainty in the business environment which has resulted from the digital revolution and the effects of climate change, etc., customers expect the insurance industry, as an important part of social infrastructure, to do more. Precisely because we are facing unforeseeable business circumstances, we will continue to meet society’s expectations, so that the East Asian region can remain sustainable and the non-life insurance industry there can develop further.
Last but not least, I believe people working in the industry in their respective regions should further cooperate, collaborate, and execute various initiatives to meet local needs.
I offer my warmest congratulations on this commemorative day and hope the East Asian insurance market will continue to progress far into the future.
On the occasion of the East Asian Insurance Day
On behalf of the General Insurance Association of Korea, I would like to extend my heartfelt congratulations on the 12th anniversary of the East Asian Insurance Day.
Since 2006 when the East Asian Insurance Day was launched, we have witnessed an increasingly pivotal role of the EAIC to help the public have better awareness of and trust towards the insurance through various activities such as consumer education, the provision of insurance information, and Corporate Social Responsibility activities.
Korea is no exception. We have put much focus on strengthening consumer confidence and consumer protection. Insurers also have engaged in CSR activities in a steady manner.
We surely believe that the EAIC will serve as a venue where global financial experts and opinion leaders can gather together and share their views, ideas and insights to find even better solutions to challenges facing the insurance industry.
In addition, we should not forget that consumer satisfaction has been and will be a foundation for sustainable growth of the insurance industry. In this sense, we should go back to basics, which is risk protection based on consumer confidence.
In the 29th EAIC, held under the theme of “Managing Disruptions, Driving Change” in Manila in May of this year, we shared our views on emerging technologies being expected to replace the traditional business model, and how to respond to such transformation.
I hope that you will have an insightful discussion on the future direction of the insurance industry along with the Asian and global trends such as technological revolution, aging population, and consumer protection brought by the Fourth Industrial Revolution in the 2020 Seoul EAIC.
We will be committed to making the 2020 Seoul Congress a place not just for discussion or exchange of information, but also an event you will always remember.
Taking this opportunity, I hope that this 12th East Asian Insurance Day will be a reminder of the important role of the insurance.
Once again, congratulations on the 12th anniversary, and look forward to the continued success of the East Asia insurance industry in the future.