First 15-20 minutes is for networking
Sandwiches & beverages included
Hosted by the Insurance & Healthcare Committee
That we face an aging society is not news in Hong Kong. But how to make sure that we are well prepared to meet the challenges this presents is an ever present issue requiring creative, challenging and collaborative solutions. Of particular concern is the issue of how we are going to meet the rising healthcare costs of an aging society.
The challenge of how society is going to fund healthy aging, and cover retirement income and long-term care at a time when populations are aging is one of the most important issues facing society, and effective and impactful solutions may only be found through collaboration between the worlds of business, public policy and the third sector.
In this panel discussion, senior representatives from the insurance and reinsurance industry sit alongside representatives from the worlds of government, academia and healthcare provision to give their perspective on the role of insurance as part of a collective solution for funding healthy aging in Hong Kong, and discuss how industry can collaborate with other stakeholders in order to find effective solutions.
CONTEXT: 60% of the world’s population lives in Asia, and we are seeing unprecedented change on the social, economic and political landscape due to rising levels of wealth, increasing life expectancy, improved medical treatments and declining fertility rates. By the year 2050, Asia’s population will be dramatically altered – once a society driven by a young workforce, Asia’s active workforce is expected to peak in 2015 at 68% of the region’s population, before entering a long term decline. It is not simply the needs of those about to enter old age that need to be considered, it is also those still in the workforce who – on top of supporting the region’s economy and older family members - must start planning for themselves and their children.
In Hong Kong, this issue has been the focus of increased Government attention, with the Government responding to the recent public consultation on this issue warning that one in three people in the city is expected to be 65 years old or above by 2041, and the threat this poses to economic growth and Hong Kong’s role as the major financial hub.