12th Health and Ageing Conference Insuring Health Care for the Elderly in Asia Conference Review Singapore, 16–17 November 2015 January 2016 The Geneva Association The Geneva Association is the leading international insurance think tank for strategically important insurance and risk management issues. The Geneva Association identifies fundamental trends and strategic issues where insurance plays a substantial role or which influence the insurance sector. Through the development of research programmes, regular publications and the organisation of international meetings, The Geneva Association serves as a catalyst for progress in the understanding of risk and insurance matters and acts as an information creator and disseminator. It is the leading voice of the largest insurance groups worldwide in the dialogue with international institutions. 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Established in 1973, The Geneva Association, officially the ‘International Association for the Study of Insurance Economics’, is based in Zurich, Switzerland and is a non-profit organisation funded by its members. 12th Health and Ageing Conference Insuring Health Care for the Elderly in Asia Conference Review Singapore, 16–17 November 2015 www.genevaassociation.org @TheGenevaAssoc 1 The Geneva Association TheTalstrasse 70, CH-8001 Zurich | Tel: +41 44 200 49 00 | Fax: +41 44 200 49 99 [email protected] www.genevaassociation.org Cover: ©Fotolia/Chen How Sia The 12th Health and Ageing Conference—Insuring Health Care for the Elderly in Asia—Conference Review ©The Geneva Association, January 2016 Published by The Geneva Association (The International Association for the Study of Insurance Economics), Zurich. The opinions expressed in The Geneva Association newsletters and publications are the responsibility of the authors. 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Download the electronic version from www.genevaassociation.org 2 The Geneva Association | 12th Health and Ageing Conference—Conference Review TABLE OF CONTENTS Introduction, by Dr Christophe Courbage 5 Conference Programme 7 Longevity and Social Aspects of Ageing Populations in Asia 9 Health-care Expenditures and Sustainable Health-care Systems 11 Insurance Opportunities to Cover Health Care for the Elderly in Asia 13 Insurance Solutions and Products to Cover Health Care for the Elderly in Asia 15 Annexes: Our Host and Sponsor 17 Speaker Biographies 19 Forthcoming Conferences of The Geneva Association 30 www.genevaassociation.org @TheGenevaAssoc 3 4 The Geneva Association | 12th Health and Ageing Conference—Conference Review INTRODUCTION by Dr Christophe Courbage On 16–17 November 2015, the 12th Health and Ageing Conference of The Geneva Association took place in Singapore on the topic of ‘Insuring health care for the elderly in Asia’. The conference was hosted by the Singapore College of Insurance and supported by Asia Capital Re. More than 60 participants originating from Asia and Europe attended the conference. Attendees came from (re)insurance companies, universities, international and (non)governmental organisations, research centres and other private companies. Asia is experiencing population ageing at an unprecedented pace, and the region is currently home to over half of the world’s elderly population. While an ageing population is a great achievement for societies, it is at the same time a major challenge. In particular, population ageing can jeopardise the sustainability of currently organised health systems and calls for the development of new forms of financing, including the development of insurance. The aim of the conference was to better understand the challenges ASIA IS CURRENTLY of organising the financing of the health of an ageing population and the role HOME TO OVER HALF insurance can play in this regard in Asia. The conference proved to be effective not only by raising awareness and by OF THE WORLD’S offering knowledge and solutions to the insurance industry on how to best ELDERLY POPULATION. manage these risks, but also by acting as an international forum for discussion amongst concerned parties, one the main goals of The Geneva Association conferences. The articles that follow summarise the key insights that can be extracted from the conference. I would like to offer our thanks to the Singapore College of Insurance for hosting this meeting and Asia Capital Re for their support. The presentations made at the conference are available on the events page of The Geneva Association website. www.genevaassociation.org @TheGenevaAssoc 5 6 The Geneva Association | 12th Health and Ageing Conference—Conference Review 12th Health and Ageing Conference Insuring Health Care for the Elderly in Asia 16–17 November 2015 Hosted by the Singapore College of Insurance and supported by ACR Capital Holdings Singapore College of Insurance, Temasek Boulevard, Suntec Tower Two, #14-01/02/03, Singapore 038989 Conference Programme Day 1 Monday 16 November 8.15-8.45 Registration and Welcome Coffee 8.45-9.00 Welcome Remarks Dr Christophe Courbage, Research Director Health and Ageing, The Geneva Association Seow Yang Kwek, Senior Assistant Director, Singapore College of Insurance 9.00-10.30 Session 1—Longevity and Health Determinants of the Elderly in Asia Chair: Dr Christophe Courbage, Research Director Health and Ageing, The Geneva Association • Longevity evolution: international comparisons and future prospects. Analysis of Asian data Dr Daria Ossipova, Head of R&D—Life related risks, SCOR Global Life, Paris • Ageing and health of older persons in the Asia-Pacific region: success and challenges Prof. David Phillips, Chair Professor of Social Policy, Lingnan University, Hong Kong 10.30-11.00 Coffee Break 11.00-12.30 Session 2—Health Care and New Health Technology for an Ageing Population in Asia Chair: Ooi Chin Heng, Manager, Healthcare Services, Prudential Assurance Company Singapore • Health care technology management—Europe and Asia walking together Dr Nicola Pangher, General Manager Foreign Operations, TBS Telematic & Biomedical Services Group S.p.A., Trieste 12.30-13.30 Lunch Break 13.30-15.00 Session 3—Financing Health Care for the Elderly in Asia Chair: Andrew Wong, Head of Reinsurance Asia Pacific, Munich Health, Munich Re Singapore Branch • The implications of ageing on health costs and health policies: evidence from the East Asia Pacific region and beyond Aparnaa Somanathan, Senior Economist, Health, Nutrition and Population Global Practice, World Bank • Fiscal sustainability of healthcare financing in Asia: Challenges and responses Kelvin Bryan Tan, Director, Policy, Research and Economics Office, Ministry of Health, Singapore 15.00-15.30 Coffee Break www.genevaassociation.org @TheGenevaAssoc 7 15.30–17.30 Session 4— Insurance opportunities to cover health care for the elderly in Asia Chair: Lye Fook Kong, General Manager, Hannover Re, Shanghai Branch • The consumer perspective on funding the costs of old age care in Asia, and the role of the insurance industry Dr Detloff Rump, Chief Underwriter, Swiss Reinsurance Company Hong Kong Branch • Current and future developments of long-term care needs in China and opportunities for insurers Dr Xian Xu, Director, China Insurance and Social Security Research Center, Fudan University • Innovative products and service solutions for the elderly Russell Bateman, Chief Operating Officer, CPIC Allianz Health Insurance, Shanghai 19.00 Cocktail and Conference Dinner (Rendezvous Hotel, 9 Bras Basah Road, Singapore 189559) Day 2 Tuesday 17 November 9.00-10.00 Keynote Address Asia’s diabetes challenge Karl-Heinz Jung, Head of Japan, MENA & International, Asia Capital Re 10.00-10.30 Coffee Break 10.30-12.30 Session 5—Insurance Solutions for Elderly Health Care Coverage in Asia Chair: Dr Christophe Courbage, Research Director Health and Ageing, The Geneva Association • Securing sustainable insurance markets for old age health care—Lessons for Asian economies Freddy Schnitzler, International Health Consulting, Former Vice President of Samsung Fire & Marine Insurance • Using risk based incentives and wellness programs to foster healthier behaviors Jeff Wu, Regional Head of Accident and Health, Generali Asia • Product innovations in Critical Illness Chris Reynolds, Head of Life Solutions Actuarial, PartnerRe, Zurich 13.00 Farewell Buffet Lunch 8 The Geneva Association | 12th Health and Ageing Conference—Conference Review LONGEVITY AND SOCIAL ASPECTS OF AGEING POPULATIONS IN ASIA Life expectancies amongst countries diverged until 1950. Thereafter, we observe a convergence to best-practice levels from the countries with low life expectancy, but a divergence from those at the top of the distribution of the world population. Today’s highest levels of life expectancy can only be achieved by reducing the mortality of the elderly, and it may be that some countries will find this harder to achieve than