Mainland China announced the “Pilot Implementation Scheme for the Comprehensive Reform of Shenzhen” recently, with a view to attracting foreign investments into Shenzhen and the Greater Bay Area. In the meantime, the governments of the Mainland and Hong Kong are making great efforts to promote “Insurance Connect” between the two regions. In order to benefit from these favorable policies, Hong Kong and international insurance companies need to take the initiative to capture business opportunities. For this purpose, they need to adopt reliable cross-regional ICT solutions to increase work efficiency and expand business. On 4 December, HKT co-hosted insurance webinar with BTT Consulting. In addition to analyzing Policy Address on insurance and the “Insurance Connect” in the Greater Bay Area, the webinar discussed how network optimization technologies could enable employees of a multi-regional enterprise to work anytime anywhere flexibly without interruption.

(Hu Jianwen, Assistant Vice President of HKT’sProduct Department, introduces the new insurance scheme of Shenzhen)

At the beginning of the seminar, Hu Jianwen, Assistant Vice President of HKT’s Product Department, emphasized that the “Pilot Implementation Scheme for the Comprehensive Reform of Shenzhen” aimed at further facilitating talents of the insurance and financial industry, increasing the efforts of opening up and supporting Mainland, Hong Kong, Macau insurance institutions in the Greater Bay Area in rolling out cross boundary RMB reinsurance business. These policies facilitate Hong Kong and international insurance companies in setting up presence in Shenzhen, which highlights the demand for network in both the Mainland and Hong Kong.

(Liangliang Graham, founderand partner ofBTT Consulting, explains “Insurance Connect” )

Afterwards, commenting on the latest policy address published by Hong Kong, Liangliang Graham, founder and partner of BTT Consulting, indicated that the government will support the insurance industry of Hong Kong in setting up after-sales service centers in Mainland cities in the Greater Bay Area under the CEPA framework to provide residents of Hong Kong, Macau and the Mainland who hold insurance policies issued in Hong Kong with comprehensive services including consulting, claim processing and renewal. It is anticipated that an ecosystem of dual circulation for the insurance business will be established in the Greater Bay Area. In addition, the forthcoming policies on “Insurance Connect” will also drive cross-regional insurance services and achieve the flow of insurance elements in the Greater Bay Area. HKT’s one-stop ICT service solutions will enable insurance enterprises to streamline collaboration and reduce operating costs, thereby increasing their competitive strength in the age of digital transformation.

(Charlie Tang, Assistant Vice President of HKT’sGreater Bay Area Business Development, introduces digital services forenterprise insurance)

Charlie Tang, Assistant Vice President of HKT’s Greater Bay Area Business Development, elaborated HKT’s industrial deployment in the Greater Bay Area and other regions in the world, its product strength and how its one-stop ICT solutions including SD-WAN, Premium Internet and IPVPN helped enterprises achieve network interconnectivity to meet the need of development of the insurance industry in the Greater Bay Area. He also introduced the technical structure and application scenarios of each solution. He went on to explain how HKT’s ICT solutions could help enterprises improve user experience in network interconnectivity and save network costs in regional development more effectively, and how HKT’s local technical service could help enterprises deploy ICT facilities in their offices in the Greater Bay Area to connect their global business and achieve unobstructed interconnectivity.