Q&A: Hong Kong CIB’s chairman Alex Yip

February 17 2022 by

InsuranceAsia News (IAN) recently caught up with Alex Yip the recently selected chairman of Hong Kong’s Confederation of Insurance Brokers (CIB).

Yip, who is also Lockton’s Greater China chief executive, said that conditions had been difficult under the pandemic but its communication with brokers is still paramount. Yip was appointed in the role at the CIB in December last year for the 2021/22 term.

IAN: What are the CIB’s priorities for 2022 ?

Yip: Professionalism, representation and communication are the three key roles of the CIB and always are our priorities for CIB members. Under the pandemic and the social distancing restrictions, we are continuing to work on and offer to our members continuing professional development (CPD) courses online with experienced international and local industry veterans.

Our CIB online help desk continues to assist and support our members on questions of compliance and other issues. We have revamped our CIB website with refreshed design and contents. We are launching our CIB Linkedin and Facebook pages to open up our social media communication with our members.

IAN: How is the pandemic affecting the broker market in Hong Kong and how can the CIB help brokers weather the storm?  

Yip: Under the pandemic, all businesses are affected and this is the same for our CIB members. Our annual conference held in October 2021 was exactly addressing these issues with the theme of Insurance Broking in a Changing World – Negotiating Stormy Seas. It was attended by over 180 people of our CIB members and among them there were many responsible officers of our members.

Our CIB bulletin will continue to provide market and industry update to our members with topical subjects and articles which will be of interest and supporting our members in their development under such challenging business environment.

IAN: What does the CIB think of the broker regulatory environment under the Hong Kong Insurance Authority (HKIA)? Is there anything it would like to see change / improved upon?

Yip: CIB continue to enjoy a high level of interaction and communication with the HKIA and we are very appreciative of them seeking our input on issues of concern to the industry. We strongly represent the interests of our members to the HKIA and are happy that these are received positively and in the spirit in which they are given.

We fully understand the challenges faced by the HKIA and have demonstrated over the years that by representing the interests of a professional broking industry CIB can assist the HKIA in developing the entire industry to the benefit of clients, insurers, brokers and the overall Hong Kong economy.

IAN: What in terms of events does the CIB have lined up for 2022 (pandemic permitting)?

Yip: We put our members’ health and safety first and have cancelled our annual spring dinner in February 2022 due to the latest pandemic situation. Our annual conference is scheduled to be held during the last quarter of 2022 and hopefully by that time we can return to normal. This event has been much welcomed by our members and we do want to see that we can hold a physical conference face to face with our members.

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