The insurance industry must continuously attract high-caliber professionals and should no longer follow the old path of blindly pursuing quantity. During the 2026 National People's Congress and Chinese People's Political Consultative Conference sessions, Yung Wai-kee, Vice Chairman of the CPPCC Economic Committee and Executive Director and Honorary Advisor of AIA Hong Kong, emphasized that as insurance products grow increasingly complex and client needs diversify, only practitioners with advanced education, professional knowledge, and integrity can provide services such as risk management and wealth planning. This is essential for driving the industry toward high-quality development.

Reflecting on the evolution of Hong Kong's insurance sector, Yung noted that the industry has progressed from having no entry barriers or examinations to requiring secondary school graduation or equivalent qualifications, mandatory industry exams, and now predominantly employing university graduates, including those with master's or doctoral degrees, and even professionals like accountants and bankers. This progression signifies industry maturity, and insurers should raise entry thresholds.

Yung expressed strong support for the ongoing transformation and consolidation of the insurance agent workforce in mainland China. He highlighted that the growing high-net-worth demographic requires comprehensive services encompassing risk management, wealth management, and succession planning, rather than simple insurance sales. This often involves collaboration with lawyers, accountants, and other professionals to offer marriage planning, tax planning, and family office services, demanding exceptionally high professional competence from agents.

With nearly 45 years in the insurance industry, Yung outlined five essential qualities for outstanding insurance agents: First, educational background, suggesting a university degree as a baseline for new entrants to ensure sufficient comprehension and learning ability. Second, a positive attitude, as insurance requires long-term commitment and dedication. Third, integrity, which is fundamental to the industry, necessitating transparent sales practices. Fourth, an outgoing personality with strong communication skills. Fifth, a professional appearance that reflects competence.

Regarding the trend of bankers in mainland China transitioning to insurance agent roles, Yung offered a positive assessment. He stated that their extensive financial knowledge and network resources make them highly effective in insurance, and their willingness to switch careers itself demonstrates the significant growth potential within the insurance sector.

However, alongside the robust development of the insurance markets in mainland China and Hong Kong, Yung pointed to problematic practices such as some agents engaging in恶性竞争 by offering direct rebates or referral fees to secure clients. He views this as severely disrupting market order and fundamentally undermining the industry's professional image. The core value of insurance agents lies in providing professional risk management, wealth management, and claims services; their income should stem from expertise and diligent work, not from price wars or improper benefits. Rebates essentially negate the professional value of agents. He urged regulators in both regions to strictly combat rebating to maintain a fair and transparent market environment.

Confronting changes brought by AI technology, large language models, and big data, Yung asserted that the insurance industry must proactively embrace technology, leveraging the synergy between AI and big data to reshape business processes. Firstly, AI robots can handle basic inquiries and support tasks, significantly reducing manual workloads and shortening training periods. Secondly, leveraging big data's rapid processing capabilities can accelerate policy approval and claims settlement. Thirdly, AI can effectively identify违规操作 and fraud risks. Lastly, AI can assist managers in more precisely monitoring agent activity and improving efficiency.

When addressing the question of whether AI will replace insurance agents, Yung answered in the negative. He emphasized that the essence of insurance sales is built on trust and emotional connections between people. While AI is efficient, it lacks the empathy, emotional resonance, and proactive care inherent to humans. AI is passive—it won't approach you unless you initiate contact—whereas excellent agents are proactive,敏锐察觉 client needs and offering assistance accordingly.

Discussing the current National People's Congress and CPPCC sessions, Yung stated his primary focus is on the draft outline for the 16th Five-Year Plan. The draft outlines China's development blueprint for the next five years, covering crucial economic, social, and livelihood issues vital for achieving high-quality development. Looking ahead to the 16th Five-Year Plan period, Yung believes Hong Kong should proactively align itself, leveraging its strengths in finance, education, international talent, and innovation to contribute to national development.

Yung sees significant potential for Hong Kong to contribute to building China into a strong financial power, a leader in science and technology, and an educational powerhouse.

Regarding building a "financial powerhouse," Yung detailed Hong Kong's core advantages. He noted that Hong Kong's capital markets are highly mature with strong fundraising capabilities. Data shows that in 2025, Hong Kong regained its position as the global leader in IPO fundraising, reaching HK$285.8 billion; over the past 15 years, Hong Kong has ranked among the top five global IPO markets for 14 years. Currently, nearly 500 companies are queuing for listing in Hong Kong, including many high-tech enterprises from mainland China.

He believes that Hong Kong's mature capital markets can effectively support national industrial transformation and technological innovation, providing mainland enterprises with an international fundraising platform. Furthermore, Hong Kong holds immense potential in wealth management, maintaining its position as the third-ranked global financial center in the Global Financial Centres Index. In recent years, significant achievements have been made in Hong Kong's securities and insurance sectors, particularly in areas like catastrophe insurance, captive insurance, and life insurance. The "Connectivity" mechanisms can be utilized to promote the diversified development of mainland financial markets.

In contributing to an "educational powerhouse," Yung pointed out that Hong Kong is home to five universities ranked among the world's top 100, making it a hub for international high-end talent. Hong Kong can leverage its international advantages to attract global experts and scholars, and through the talent mobility mechanisms of the Guangdong-Hong Kong-Macao Greater Bay Area, channel intellectual resources to the mainland, helping cultivate more scientific research and innovation talent for the nation.

Regarding building a "科技强国," and the national strategy to "promote the deep integration of technological innovation and industrial innovation," Yung considers the Greater Bay Area the ideal location for establishing an international science and technology innovation hub. He stated that building an international sci-tech innovation center requires three key elements: First, talent aggregation, where the Greater Bay Area can foster an efficient ecosystem for the flow of talent from the mainland, Hong Kong, and internationally. Second, capital support; as an international financial center and Asia's second-largest hub for private equity and venture capital funds, Hong Kong can provide full lifecycle funding support for tech startups. Third, innovative thinking; Hong Kong is a highly open international city with a solid research foundation and strong emphasis on intellectual property rights. Coupled with cooperation with mainland cities in the Greater Bay Area, scientific and technological achievements can be rapidly translated into industrial applications.