Digital Insurance for a Smart City
In 2017, PwC completed the consultancy study for the Smart City Blueprint for Hong Kong. The Government subsequently published its Smart City Blueprint in Dec 2017 with a wide range of activities covering six major smart themes - Smart Mobility, Smart Living, Smart Environment, Smart People, Smart Government and Smart Economy.
Adoption of emerging technology is a key driver to support the economic development of key industries - one of which is the Insurance Industry. Insurance is the most disrupted sector of the global economy. The pace of technological change and shifts in consumer behaviour had led to a new wave of competition that many insurance companies found challenging.
The speakers will discuss how to realise the vision of the smart city and how players in the Insurance Industry can turn the initial trepidation over digital transformation into optimism.
The speakers will share their views on the vision for Smart City, the key elements of the Hong Kong Smart City Blueprint, the current operating landscape/trends and potential use of technologies in the insurance industry.
Financial services practitioners who would like to learn more about the Smart City Blueprint and the impact on the insurance industry.
He has extensive experience in policy formulation and review, feasibility study, financial analysis, business planning, regulatory and business impact assessment, options evaluation and public private partnership.
Albert directed a project to assist the Hong Kong Government with developing a Smart City Blueprint for Hong Kong and for the Office of the Government Chief Information Office. He also led a development strategy of a Common Spatial Data Infrastructure for the Development Bureau, which is a key element underpinning the Smart City initiative. In addition, Albert also worked on a number of strategic projects related to the subject of innovation and technology for the Hong Kong Science and Technology Parks Corporation.
Albert holds a PhD in Engineering from the University of Cambridge.
He has over 17 years of experience, specializes in digital transformation i.e. utilizing technologies to changes the sales and distribution, operation, risk, finance and other insurance functions to achieve business growth, cost savings, efficiency and other strategic objectives.
Over the years that he has been with PwC, he has practiced financial risk management, technology consulting and finance management, which provides him a comprehensive and unique perspective on how digital transformation impacts product design to operation to finance reporting; and on how the industry can work together and leverage emerging technologies like blockchain, AI and IoT to change the industry landscape for better customer value and higher efficiency.