Population ageing presents a multifaceted challenge to society and at the same time creates significant opportunities for the insurance industry in developing the silver economy and narrowing protection gaps.
A panel discussion of industry experts and members of academia on the theme Navigating the Silver Economy: Insurance Sector Opportunities in an Ageing Society was hosted by Insurance Authority (IA) of Hong Kong on 13 January 2025. The panel discussion was organised as a part of the Asian Financial Forum where the participants discussed the demographic trends in the community.
The panel also exchanged views about insurance solutions currently available in the market and challenges in meeting the emerging needs and narrowing protection gaps, in both local and cross-border perspectives.
IA executive director and panel moderator Mr Clement Lau said, “By providing the much-needed coverage and support, the insurance sector can play a vital role in alleviating pressing issues faced by the elderly community as well as in driving silver economy."
“With enhanced connectivity within the Guangdong-Hong Kong-Macao Greater Bay Area, there is also immense potential for our insurance industry to collaborate with other sectors to serve the region at large,” he said.
The panellists also delved into other topics including how the industry could help raise insurance literacy and retirement planning awareness to create a more sustainable and resilient society.