East Asian Insurance Day
Oct. 11, 2016
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. Toshifumi Kitazawa, 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. Chris Ma, Chairman of the Macau Insurers’ Association, to the Japanese insurance market, whose Japanese translation will appear in the Japanese insurance business papers.
East Asian Insurance Day
On the occasion of East Asian Insurance Day (October 18th), which was established by the East Asian Insurance Congress (EAIC), I would like to offer greetings and report on relevant initiatives by the General Insurance Association of Japan (GIAJ).
Since the Great East Japan Earthquake of 2011, the risk of the occurrence of giant earthquakes has been widely recognized in Japan. The government revised its damage estimates for events such as a Nankai Trough Earthquake and a Tokyo Inland Earthquake.
In April this year, a series of earthquakes with the Japanese seismic intensity scale of 7 (magnitude 6.5 to 7.3) hit the Kumamoto region and its surrounding areas, inflicting severe damage and losses.
Being one of the world’s most earthquake-prone countries, Japan has developed a Residential Earthquake Insurance Scheme, which is a legislated private and public sector risk-sharing scheme.
Toshifumi Kitazawa, Chairman
The General Insurance Association
of Japan (GIAJ)
Following the Kumamoto Earthquake, we made industry-wide efforts to ensure prompt payment of insurance claims under the scheme to those affected by the disaster, and contributed to helping rebuild their lives.
We will continue to work on further enhancement of public awareness regarding earthquake risks and the dissemination of Residential Earthquake Insurance in order to promote the stability and security of people's lives.
The EAIC, which held its first congress in Tokyo in October 1962 with only around 20 overseas participants, has grown into the largest insurance gathering in Asia with over 1,200 experts from 30 countries and regions in attendance.
The 28th congress will be held in Macau from October 11 to 15 this year. On the last day of this event, I will take over the role of EAIC Executive Board Member for Tokyo from Mr. Akio Negishi, the Director, President and Representative Executive Officer of Meiji Yasuda Life Insurance Co., Ltd.
Our Association will mark its 100th anniversary in May 2017. We have experienced various environmental changes such as market expansion from marine insurance to fire and automobile insurance, liberalization of the insurance market, and the frequent occurrence of large-scale natural disasters. Through these experiences, we have acquired an immense amount of knowledge.
On the run up to the 29th congress in 2018, we are determined to actively share our insights based on our industry's experience of the past 100 years.
The GIAJ has held the Insurance School (Non-Life) of Japan (ISJ), an international insurance technical assistance program for industry professional in East Asia, every year since 1972. The ISJ was established in response to an EAIC request and a recommendation by the United Nations Conference on Trade and Development (UNCTAD). With a history of more than 40 consecutives years of providing guidance to people involved in the insurance industry within the East Asia region, the ISJ has produced roughly 1,900 graduates and is highly evaluated by officials of all participating countries. We believe that East Asian Insurance Day is also a day to reaffirm the long history and close relationship between the ISJ and the EAIC.
We, the GIAJ, will take advantage of East Asian Insurance Day as an opportunity to promote understanding of the importance of insurance and the activities of the EAIC, and will implement the following initiatives this year.
1) introduce the purpose, history and activities of the EAIC on display boards at the GIAJ headquarters
2) utilize the GIAJ’s website and insurance business publications for communications and public affairs
3) contact the ISJ graduates whose total number is roughly 1,900 and encourage them to attend the 28th EAIC Conference
Insurance is a wonderful invention created by the wisdom of humanity. I hope that East Asian Insurance Day will be a good opportunity for the many people involved in insurance to reaffirm the role insurance plays for economic and social progress, as well as the importance of cooperation among the insurance industries of Eastern Asia through the EAIC.
I offer my warmest congratulations on this commemorative day, and hope for the continued development of the East Asian insurance market in the future.
East Asian Insurance Day - To The Japanese Insurance Industry Workforce -
On behalf of the Macau Insurers Association and the Organizing Committee, I would like to warmly welcome you to the 28th East Asian Insurance Congress to be held from 11 to 15 October 2016 at the Venetian Macau.
The theme of the 28th EAIC is “The Future of Insurance - Customer Centricity”. The healthy development of the industry depends largely on whether we are able to anticipate what customer needs will be. We will have a full programme to help us gain a better insight into who our customers are, how we can serve them better, what role technology plays, what impact the ageing population may have, and what the ultimate operating model is in an ever-changing market place. We may expect to be inspired by a host of world-class practitioners and speakers.
Every two years the EAIC offers excellent opportunities for delegates to meet up with one another to share their views on how we may make our industry better to better satisfy the needs of our customers. Macau in 2016 offers the perfect place for this meeting of great minds and exchange of great ideas.
Chris Ma, Chairman The Macau Insurers’ Association
Besides being a convention destination, Macau is recognized as a world tourism and leisure centre. Outside of the meeting rooms, Macau has a lot more to offer. There are already many world-class attractions to welcome you. As Macau continues with its fast paced development, by 2016, many more new hotels, convention facilities, entertainment options and fine restaurants will be ready to satisfy your every need.
Please join us in October 2016 to meet up with old friends and to make new ones, and to enjoy the warm Macanese hospitality.