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General Manager Liang Zhengde from Taiwan Financial Corporation Insurance Enterprise Development Institute gave a lecture

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On the afternoon of May 25, 2015, Mr. Liang Zhengde, general manager of T Taiwan Financial Corporation Insurance Enterprise Development Institute (hereinafter referred to as "Taiwan Insurance Institute"), visited our school and delivered a speech entitled "Analysis of the current situation of insurance market development in Taiwan". The lecture was presided over by Professor Han Changyin, Director of the Insurance Research Center of Shanghai Jiao Tong University. Hong Binghui, researcher of the Taiwan Insurance Institute, Jin Yizhong, general manager of Asia Pacific Securities Brokerage Co., Ltd., Xia Xianlin, lawyer of Shanghai Deliang Law Firm, and some of the graduate students attended the lecture.

General Manager Liang Zhengde talked about the development status of the insurance market of Taiwan from three aspects. The first part was the development course of the insurance industry in Taiwan. Liang pointed out that the development of the insurance industry in Taiwan had undergone a period of eruption in the late Qing Dynasty, the opening period of the Japanese Occupation era, the post-war period of flying and stable development, and finally the "Warring States" era since 1986. Secondly, Liang expounded the relationship between the development of insurance industry and social progress from the perspective of the development of life insurance and property insurance in Taiwan. As far as the life insurance industry is concerned, economic growth, the accumulation of national wealth, the popularization of education and the acceptance of insurance have played an important role in the stable growth of its scale. At the same time, the new insurance, such as health insurance, introduced by foreign insurance companies, has a considerable effect on the development of life insurance industry. In addition, the introduction of investment-linked insurance also makes life insurance an important tool for financial management. All these factors make the premium income growth rate of life insurance industry better than that of economic growth. As far as the property insurance industry is concerned, Liang summed up its characteristics as "small and beautiful". The property insurance industry in Taiwan has developed slowly in recent years because of the outward shift of industry in Taiwan. The fact that insurance companies have not actively promoted or developed some kinds of insurance and the saturation of the market also lead to this slow development. However, the property insurance industry has a high demand for the professional skills, and the vigorous development of the compulsory automobile liability insurance and the basic insurances of residential earthquake shows the vigor of this industry. Finally, Liang gave us the future prospects of the insurance industry in Taiwan and pointed out four directions. The first is the Asian layout. As the insurance industry in Taiwan is a mature market and tends to be saturated, it is a feasible and necessary development direction to go abroad. And through the questionnaire survey conducted by the Taiwan Insurance Institute, the Taiwanese practitioners are most optimistic on the insurance market in the mainland China.The second is electronic commerce. At present, the network insurance in many countries and regions have a pivotal position, especially in the field of car insurance. And authoritative surveys show that Asians are most willing to pick up the network insurance. The third is the transformation of corporate social responsibility. In this respect, Taiwan is working to realize the organic combination of the application of insurance funds and corporate social responsibility. Finally, the establishment of the professional units for the rate actuarial is necessary. In Taiwan, setting tariffs is the main responsibility of the Taiwan Insurance Institute.

At the end of the lecture, Professor Han Changyin, director of the Insurance Research Center of Shanghai Jiao Tong University commented on this lecture. Professor Han Changyin pointed out that the development experience of the insurance industry in Taiwan is of great significance for the development of the mainland insurance industry in an orderly and predictable direction. Professor Han Changyin also expressed his sincere gratitude to the Taiwan Insurance Institute for its support to the Insurance Research Center of Shanghai Jiao Tong University. The lecture successfully ended with enthusiastic applause from the students.

After the lecture, Professor Ji Weidong, Dean of KoGuan School of Law of Shanghai Jiao Tong University and Changjiang Scholar of the Ministry of Education, invited the General Manager Liang Zhengde and his colleagues. Each side gave a gift to the other. During the dinner, Professor Ji Weidong, Professor Hanchangyin and Manager Liang discussed the development of the cross-Strait insurance industry and the future prospects of Shanghai Jiao Tong University and Taiwan Center for further cooperation issues of the exchange.