Top executives of non-life insurance companies in the Philippines gathered recently to chart the industry's course as it gears up for the ASEAN integration come 2015.
Billed as the first PIRA Regional Dialogue, the event was organized by the Philippine Insurers and Reinsurers Association (PIRA) and presented by the National Reinsurance Corporation of the Philippines (PhilNaRe).
A powerhouse cast of speakers made important presentations during the event. They were led by Evelina Pietruschka, secretary general of the ASEAN Council who spoke about the coming economic integration. Moung Mo Lee of A.M. Best Asia Pacific talked about consistency in regulation among ASEAN members while the trio of Roshan Perera and Matthew Maguire of NMG Group and Christian Lauron of SGV presented about standardization of Risk-Based Capital framework across the region.
William Hosack of Singularity Prime talked about new technologies for the economy while Dennis Means of Thatcham Thailand spoke about how a group rating program works.
Two non-industry personalities also graced the event. Renowned economist Dr. Bernardo Villegas of the University of Asia and the Pacific presented the private sector's perspective on the economic integration. Before him spoke Professor Leonor Briones of the UP National College of Public Administration and Governance who presented her views on the importance of good governance in globalization.
Insurance Commissioner Emmanuel Dooc formally opened the event.
PIRA Chairman Emmanuel Que said the Regional Dialogue was a venue for a healthy exchange of ideas among insurance executives, both local and foreign.
"The year 2015 is just around the corner and it is only proper that we talk about the changes that will happen in the industry by then," he said.
The event's major sponsors were Asia Reinsurance Brokers, BPI/MS Ins. Corp., Catalytics, Charter Ping An Ins. Corp., Federal Phoenix Assurance Co., Inc., Malayan Ins. Co., Inc., The New India Assurance Co., Ltd., Passenger Accident Management & Ins. Agency, Inc. Republic Surety & Ins. Co., Inc., Standard Ins. Co., Inc. and the Wizardsgroup.
Minor sponsors were Alpha Ins. & Surety Co., Inc., CIS Bayad Center, Blue Cross Ins. Inc, Computer Professionals Inc., Org. of Ins. Cos. of the Phils., Phil. Machinery Management Services Corp., Pioneer Ins. & Surety Corp., Plaridel Surety & Ins. Co., Stradcom, UIB Asia, Ultimate Risk Solutions, and BA Insight.