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Industry experts and academia explore the role of insurance in developing silver economy

13 January 2025


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. The Insurance Authority (IA) hosted a panel titled “Navigating the Silver Economy: Insurance Sector Opportunities in an Aging Society” at the Asian Financial Forum (AFF)1 today (13 January 2025), where experts from the industry and the academia took a deep dive into the subject.

The panel shed light on key demographic trends shaping Hong Kong’s population, 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.

Mr Clement Lau, panel moderator and Executive Director, Policy and Legislation of the IA, 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 (GBA), there is also immense potential for our insurance industry to collaborate with other sectors to serve the region at large,” he added.

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.

Ends



The Insurance Authority (IA) hosted a panel discussion at the Asian Financial Forum where experts shared views on the vital role of insurance in the development of silver economy.

Note:

1 The Asian Financial Forum (AFF) is the region’s premier platform that brings together influential leaders from government, finance, and business communities globally for ground-breaking discussions and exchange of insights on the global economy from an Asian perspective. Full programme can be found here.