Hong Kong AI cohort grows amidst governance pressure

Stephen Yiu said insurers are showing stronger ownership in strategy selection.

Hong Kong's Insurance Authority (IA) has added three insurers to its Artificial Intelligence (AI) Cohort Programme, bringing the total number of core participating insurers to 10 since the initiative was launched in August 2025.

Speaking at the AI Cohort Symposium on 15 June, IA Chairman Stephen Yiu said insurers were showing stronger ownership and governance in their AI strategies, with greater discipline in selecting use cases that deliver business value and improve customer outcomes.

Yiu said Hong Kong’s AI and insurtech ecosystem had also strengthened, with more technology providers offering solutions relevant to core insurance functions. 

He noted that AI adoption depends on insurers, technology firms and the wider ecosystem developing together.

Amongst the new core participants is Manulife Hong Kong, which said it would contribute to the establishment of AI Centres of Excellence, support AI talent development and promote knowledge sharing across the industry and with regulators.

According to Patrick Graham, AI is reshaping the insurance sector by helping insurers improve customer service, efficiency and operational resilience.

He said the company aims to scale the responsible use of AI across its business and strengthen collaboration with industry partners through the programme.

Manulife Hong Kong has been expanding AI applications across distribution, customer service, underwriting and claims. Its initiatives include a bilingual AI assistant for customers, an AI-powered sales tool for agents and an AI assistant to support new business and underwriting enquiries.