HomeDIGITAL ASSETS REGULATORYsingapur_MAS"Maximizing Insurance Impact: Keynote Address by Mr. Lawrence Wong at the 2023...

“Maximizing Insurance Impact: Keynote Address by Mr. Lawrence Wong at the 2023 Global Insurance Forum on Nov 7th”

During the 2023 Global Insurance Forum, Mr. Lawrence Wong, Deputy Prime Minister, Minister for Finance, and Chairman of the Monetary Authority of Singapore, emphasized the importance of the insurance industry in contributing to society. He highlighted three key areas for the industry to focus on: supporting the transition to a net-zero economy, leveraging technology such as artificial intelligence, and nurturing the necessary talent to drive these initiatives forward. By actively participating in the transition to a net-zero economy, the insurance industry can play a crucial role in mitigating the effects of climate change. Additionally, embracing technological advancements, particularly artificial intelligence, can enhance the industry’s operations and provide more efficient and effective services to customers. Lastly, investing in talent development will ensure that the industry has the necessary skills and expertise to navigate the evolving landscape and meet the changing needs of society.

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