Taiwan Insurance Institute (TII)
The Taiwan Insurance Institute (TII), established in 1985, is a non-profit organization to facilitate safe and sound development of the insurance industry and help promote the interests of the insurers, the insured, and the public. TII is authorized by the supervisory authority to develop insurance periodical actuarial statistics. TII is also responsible for conducting professional insurance research, making policy proposals, reviewing insurance products, analyzing international insurance data, promoting risk management and insurance knowledge, and acting as a government think tank. Moreover, TII offers professional training on insurance to cultivate insurance talent and experts. As a multi-functional organization, TII has been actively participating in international affairs to promote international cooperation as well as exchange of information.
TII’s current tasks are as follows:
- Enhancing the actuarial/statistical functions as well as big data collecting/analytical capacities of TII to foster a favorable business environment for the insurance industry.
- Assisting the establishment of insurance supervisory rules and regulations in line with international standards as well as enhancing research of the products and regulations resulting from FinTech/InsurTech under the guidance of the supervisory authortity.
- Assisting the expansion of Taiwan’s insurance companies in Asia in accordance with government’s “New Southbound Policy”.
- Promoting insurance education, knowledge and awareness in the society as well as cultivating international insurance talents for Taiwans’ insurance industry.
- Drafting the amendments of insurance law.
Further details of TII’s history and activities can be found on its website: www.tii.org.tw/opencms/english
The board of directors shall be comprised of seven to nine board members. The management team is comprised of a Chairman, who represents TII, a president, who manages the entire operation of TII and two vice presidents who assist the president in implementing the management and operation decisions. TII has eight departments: Research Department, Life Actuarial Department, Non-Life Actuarial Department, Information Technology Department, Education and Training Department, International Department, Administration Department, and Accounting Office.
The Board comprises:
- Representatives of FSC
- Representative of life insurance industry
- Representative of non-life insurance industry
- Representatives of academy
- Representative of impartial third party