InsurTech & RegTech - game changer for insurance industry?
Date: 22 November 2017 (Wednesday)
Title: InsurTech & RegTech - game changer for insurance industry?
Speaker: Mr. Sun Kin Kwok, Darron, Head of Information Technology, Hong Kong Housing Society (HKHS)
- Insurance 101
- What is InsurTech?
- InsurTech Universe
- Top 10 InsurTech Trends
- Data Analytics
- Regulatory Challenges
- What is RegTech
- Where does RegTech work best?
- What's next
With the population getting older, and the mindset switching to accept insurance as a way to spread out various unforseeable risks in ones life, health and property, Insurance business has been and will be growing fast in the coming years. Riding on our technological advancement, InsurTech - a FinTech sub-segment, addresses existing insurance challenges and opportunities. Examples of applications range from GPS tracking of cars, activities trackers using wearable devices to CRM technology and Big data analysis. All these technologies help insurance companies better understand their clients, and hence can offer dynamic premium pricing depending on the individual clients' risks exposure. Besides, InsureTech also helps in automating business process and cutting down the operational cost. Furthermore, with more stringent regulatory control, RegTech meets the challenges by using various tools, turning hinderance into opportunities.
In the talk, Darron will discuss the InsureTech in details, the Top 10 InsureTech trends, Data Analytics, as well as the Regulatory challenges and RegTech. Through the talk, IT students and would-be graduates would be able to better prepare themselves, and grasp the opportunities to enter this blooming, exciting arena of insurance.
Biography of the Speaker:
Being the Head of Information Technology at Hong Kong Housing Society (HKHS), the mandate of Mr. Sun is to provide vision and leadership for developing and implementing information technology initiatives for HKHS. He is accountable to direct the planning and implementation of enterprise IT systems in support of business operations in order to improve cost effectiveness, service quality and business development of HKHS. Previously, he was the Assistant Vice President of Manulife Hong Kong Information Technology. He was accountable for the delivery of all Hong Kong Employee Benefits (including both Pension and Group Life & Health) system solutions, and was responsible for all IT Compliance and operation risk management of IT.
He was the Head of IS audit at Manulife Asia Division and was accountable for the delivery of professional, value-added and risk-based audit services across 11 Asia countries. Darron graduated from Deakin University with a major in Computer Science and obtained the Master of Science in Information Systems and Master of Business Administration from The Hong Kong Polytechnic University. Darron is a Certified Management Accountant (CMA), Member of Institue of Public Accountants (MIPA), Associate of CPA Australia (ASA), Certified Information Systems Auditor (CISA), Certified in Risk and Information Systems Control (CRISC), Certified Information Systems Security Professional (CISSP) and Certified in Risk Management Assurance. He is Vice Chairman of CMA (Australia) Strategic Development Committee, Secretary & Director of Hong Kong IFC Lions Club, and subject matter expert reviewer of ISACA CRISC Review Manual. He was a committee member of ISACA Headquarter both Student & Academic Subcommittee (SAS) and Communities Committee.