HKIA calls for cross-border collaboration amidst elderly protection gap

Clement Lau emphasised the role of the insurance sector in supporting the elderly.

Hong Kong’s Insurance Authority (IA) said the collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area will aid in advancing the 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,” said panel moderator Clement Lau, ExecutiveDirector of Policy and Legislation at the HKIA.

The authority hosted a panel titled “Navigating the Silver Economy: Insurance Sector Opportunities in an Aging Society” at the Asian Financial Forum on 13 January.

“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," Lau added.

The discussion also revealed the limited availability of insurance products tailored to older demographics and the importance of improving public understanding of insurance and retirement planning.

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