Steven Yu said insurance companies are showing stronger ownership in strategic choices.
Hong Kong’s Insurance Authority (IA) has added three insurers to its Artificial Intelligence (AI) Cohort Program, bringing the total number of core participating insurers to 10 since the initiative was launched in August 2025.
Speaking at the AI Cohort Symposium on June 15, IA Chairman Stephen Yee said insurers are showing stronger ownership and governance in their AI strategies and are being more disciplined in selecting use cases that deliver business value and improve customer outcomes.
Yu said Hong Kong’s AI and insurtech ecosystem is also strengthening, with more technology providers offering solutions related to core insurance functions.
He noted that AI adoption depends on insurers, technology companies and the broader ecosystem developing together.
Manulife Hong Kong is among the new core participants and said it will contribute to the establishment of an AI Center of Excellence, support the development of AI talent and facilitate knowledge sharing across the industry and with regulators.
According to Patrick Graham, AI is reshaping the insurance industry by helping insurers improve customer service, efficiency, and operational resilience.
He said that through this program, the company aims to expand the responsible use of AI across its business and strengthen collaboration with industry partners.
Manulife Hong Kong has expanded its AI applications across distribution, customer service, underwriting and claims. Its efforts include bilingual AI assistants for customers, AI-powered sales tools for agents, and AI assistants to support new business and underwriting inquiries.
