The Hong Kong Federation of Insurers (HKFI) today (3 March 2015) officially launches the Young
Insurance Executive Development Programme (YIE) with Mr James Lau, Acting Secretary
for Financial Services and the Treasury, as the officiating guest at the ceremony.
 
Insurance is a vital pillar of Hong Kong's economy, recorded a gross in force premium of 299.5 billion
in 2013. The industry, however, is suffering from a longstanding problem of talent shortage.
"Insurance is highly professional and the demand for both the frontline and back office practitioners
with technical savvy is extremely high," said Mr P L Chan, Chairman of the Task Force on Young
Insurance Executive Development Programme under HKFI. "On this, the HKFI launches the
Young Insurance Executive Development Programme (YIE) in association with the Institute of
Professional Education And Knowledge (PEAK) of Vocational Training Council (VTC), to groom
talents and attract new blood to support the rapid and robust growth of our industry."
 
Targeting university graduates or diploma holders with at least one year working experience, the
Programme combines practical on-the-job-training with academic qualifications. Trainees will work
with insurance companies 4 days a week and spend 1 day on part time learning for a minimum of
one year. Upon successful completion of the course, they will receive a "Professional Diploma in
Insurance". The tuition fee will be fully sponsored by their respective employers and trainees will also
receive a salary of HK$120,000 or more per annum, with employee benefits. Instead of sales
oriented vacancies, the positions offered by the insurance companies ranging from actuary, claims,
underwriting, policy administration, legal and compliance, etc.
 
"Through providing training and internship opportunities, we hope to provide the community, in
particular students, a fuller picture of the nature and career prospects of different jobs in our industry,
and to nurture talents for various realms in the back office as well as enhance the professional
standard of our practitioners." said Mr P L Chan.

For more information about the Programme, please visit http://www.hkfi.org.hk/YIE/.

The Acting Secretary for Financial Services and the Treasury Mr James Lau (third from left),
HKFI Chairman Mr Jimmy Poon (left) , Chairman of the Task Force on YIE Mr P L Chan (second
from left), Deputy Director of PEAK Mr Raymond Chan and HKFI Chief Executive Mr Peter Tam
(right) officiate at the kick‐off ceremony.

The Acting Secretary for Financial Services and the Treasury Mr James Lau (fourth from right),
HKFI Chairman Mr Jimmy Poon (fifth from right), Chairman of the Task Force on YIE Mr P L Chan
(sixth from right), Deputy Director of PEAK Mr Raymond Chan (third from left) and HKFI Chief
Executive Mr Peter Tam (right), together with the honorable guests and representatives of the
Sharing Session.

Please click here to view more photos of the event.