Addressing super-aged society: Taiwan's FSC to ease insurance pricing restrictions

Taiwan's Financial Supervisory Commission (FSC) announced plans to ease insurance pricing restrictions to address the challenges of a super-aged society. The move aims to remove the requirement for 3-5 years of historical data, allowing for greater flexibility in new product development. Tsai Huo-yen, Deputy Director-General of the Insurance Bureau, stated that as Taiwan entered a super-aged society last year, the insurance industry should play a role in 'all-age finance.' The FSC will encourage investment in auxiliary equipment for long-term care facilities and promote health-promotion services using technology. By supporting customers throughout their life cycles, insurers aim to reduce medical costs and contribute to society.