FSC: Continuously Adapting Regulations to Encourage Insurance Industry Innovation
FSC Insurance Bureau Director-General Wang Li-hui stated that regulations will be adapted to encourage the insurance sector to provide innovative services for an aging society, shifting from passive claims to proactive care.
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- 📰 Published: April 24, 2026 at 22:36
- 🔍 Collected: April 24, 2026 at 23:02 (25 min after Published)
- 🤖 AI Analyzed: April 24, 2026 at 23:59 (57 min after Collected)
Central News Agency
(CNA Reporter Su Ssu-yun, Taipei, 24th) Taiwan has entered a super-aged society. Financial Supervisory Commission (FSC) Insurance Bureau Director-General Wang Li-hui stated today that the FSC will continuously adapt regulations to provide flexibility in insurance product pricing and encourage the insurance industry to apply for business trials to offer innovative services. She hopes the future role of the insurance industry can shift from passive to active; for instance, through technological integration, once a dementia condition is confirmed in a hospital, the insurance company can automatically initiate the claims process.
Wealth Magazine hosted the 2026 Taiwan Life Insurance Industry Forward-Looking Summit this afternoon. Wang Li-hui delivered a keynote speech titled "Shift in Insurance Policy: Innovative Services for the Elderly Become the Trend."
Wang stated that Taiwan entered a super-aged society in 2025 (with the elderly population over 65 accounting for 20% of the total). Taiwan's society is aging faster than Japan and the US, and combined with the challenge of a declining birthrate, careful response is required. Last October, the Insurance Bureau also issued a directive stipulating that if health and welfare businesses are integrated with insurance business and underwriting, they can be listed as insurance-related businesses for investment.
Looking to the future, Wang proposed three major directions. First, in accordance with the Asian Asset Management Center plan, the FSC will continue to encourage the insurance industry to invest in targets that promote social welfare, such as public infrastructure, the aging society, the silver economy ecosystem, and silver industries. Secondly, "all-age finance" will be incorporated into the overall policy planning, studying the expansion of the business scope for insurance industry investments in health and welfare enterprises.
Thirdly, on the premise of not intervening in the management rights and core businesses of long-term care institutions, investing in insurance-related enterprises or strategic industries to provide auxiliary equipment and services needed by long-term care institutions (such as smart bed management and smart assistive devices) can help improve the operational efficiency of existing institutions.
FSC Chairperson Peng Jin-lung mentioned that under the push for the all-age finance policy, the insurance industry should adopt a new mindset. Wang further explained that the mindset of the insurance industry should transform from past "product sales" to "comprehensive life support," and from "passive services" to "proactive protection."
She explained that in the past, after a policy was sold, the insurance company would only pay out when a claim event occurred. As society becomes an "equally aged" society in the future, the insurance industry's role should turn from passive to active. For example, as the population of elderly with dementia increases, it should be considered whether technological connections can be made so that once a dementia patient's status is confirmed in the hospital, the insurance company can be notified to carry out a proactive payout process.
She also mentioned that assuming the elderly population has no children to accompany them to see a doctor in the future, the insurance industry can consider how to integrate massive human resources to provide cross-industry services. The FSC can review relevant regulations and conduct cross-ministerial cooperation to jointly seek solutions.
Wang explained that the FSC will continuously adapt regulations to increase flexibility in insurance product pricing. In the past, the industry might use 3 to 5 years of empirical data to predict future probability and set prices. In the future, through technology and foreign experience, restrictions on rate-setting empirical data can be relaxed under existing premises, providing the industry with opportunities to conduct more precise pricing and dynamic risk assessments.
Furthermore, Wang pointed out that the FSC also encourages trials. For business items not yet opened up by current administrative rules, orders, or association self-regulatory norms, companies are highly encouraged to propose relevant business trial plans to provide innovative services.
(CNA Reporter Su Ssu-yun, Taipei, 24th) Taiwan has entered a super-aged society. Financial Supervisory Commission (FSC) Insurance Bureau Director-General Wang Li-hui stated today that the FSC will continuously adapt regulations to provide flexibility in insurance product pricing and encourage the insurance industry to apply for business trials to offer innovative services. She hopes the future role of the insurance industry can shift from passive to active; for instance, through technological integration, once a dementia condition is confirmed in a hospital, the insurance company can automatically initiate the claims process.
Wealth Magazine hosted the 2026 Taiwan Life Insurance Industry Forward-Looking Summit this afternoon. Wang Li-hui delivered a keynote speech titled "Shift in Insurance Policy: Innovative Services for the Elderly Become the Trend."
Wang stated that Taiwan entered a super-aged society in 2025 (with the elderly population over 65 accounting for 20% of the total). Taiwan's society is aging faster than Japan and the US, and combined with the challenge of a declining birthrate, careful response is required. Last October, the Insurance Bureau also issued a directive stipulating that if health and welfare businesses are integrated with insurance business and underwriting, they can be listed as insurance-related businesses for investment.
Looking to the future, Wang proposed three major directions. First, in accordance with the Asian Asset Management Center plan, the FSC will continue to encourage the insurance industry to invest in targets that promote social welfare, such as public infrastructure, the aging society, the silver economy ecosystem, and silver industries. Secondly, "all-age finance" will be incorporated into the overall policy planning, studying the expansion of the business scope for insurance industry investments in health and welfare enterprises.
Thirdly, on the premise of not intervening in the management rights and core businesses of long-term care institutions, investing in insurance-related enterprises or strategic industries to provide auxiliary equipment and services needed by long-term care institutions (such as smart bed management and smart assistive devices) can help improve the operational efficiency of existing institutions.
FSC Chairperson Peng Jin-lung mentioned that under the push for the all-age finance policy, the insurance industry should adopt a new mindset. Wang further explained that the mindset of the insurance industry should transform from past "product sales" to "comprehensive life support," and from "passive services" to "proactive protection."
She explained that in the past, after a policy was sold, the insurance company would only pay out when a claim event occurred. As society becomes an "equally aged" society in the future, the insurance industry's role should turn from passive to active. For example, as the population of elderly with dementia increases, it should be considered whether technological connections can be made so that once a dementia patient's status is confirmed in the hospital, the insurance company can be notified to carry out a proactive payout process.
She also mentioned that assuming the elderly population has no children to accompany them to see a doctor in the future, the insurance industry can consider how to integrate massive human resources to provide cross-industry services. The FSC can review relevant regulations and conduct cross-ministerial cooperation to jointly seek solutions.
Wang explained that the FSC will continuously adapt regulations to increase flexibility in insurance product pricing. In the past, the industry might use 3 to 5 years of empirical data to predict future probability and set prices. In the future, through technology and foreign experience, restrictions on rate-setting empirical data can be relaxed under existing premises, providing the industry with opportunities to conduct more precise pricing and dynamic risk assessments.
Furthermore, Wang pointed out that the FSC also encourages trials. For business items not yet opened up by current administrative rules, orders, or association self-regulatory norms, companies are highly encouraged to propose relevant business trial plans to provide innovative services.