To strengthen the connection between universities and enterprises in the Greater Bay Area and Hong Kong, and to integrate the advantageous resources of all parties, the Hang Seng University of Hong Kong (HSUHK) and Guangdong University of Finance and Economics (GDUFE) signed a memorandum of cooperation in May 2023. The MoU aims to, inter alia, promote cooperation between the two sides in the fields of actuarial science and insurance industry. In this connection, HSUHK and GDUFE jointly establish “粵港澳大灣區精算和保險產業學院 (“產業學院”) ” to enhance teaching in actuarial and insurance, to carry out joint research and to further promote the integrated development of the insurance industry in Guangdong and Hong Kong.

產業學院 is currently conducting the following three research projects, including:
• 粤港澳大湾区保险市场一体化研究-基于监管制度的分析
• 内地与香港社会保险制度模式比较研究
• 演化信度理论的拓展

These projects aim to explore the development of Hong Kong’s insurance and social security systems and examine the integration of the insurance market in the Guangdong-Hong Kong-Macao Greater Bay Area. To facilitate effective project research, the School has invited a group of six research team members, including the Associate Dean of School of Economic, Director of Insurance Professional Master Education Center, Associate Head of Department of Economic Statistics and representatives from the Guangzhou branch of China People’s Insurance Company, to visit Hong Kong conducting a 5-day field research study from January 6 to 10, 2025.

During a welcome luncheon, GDUFE presented a plaque “粵港澳大灣區精算和保險產業學院理事長單位” to HSUHK, this not only symbolizes the cooperative relationship between the two universities but also emphasizes the commitment to long-term collaboration. Discussions were held regarding research projects and programmes collaboration in the insurance field. After the luncheon, the team had a campus visit to understand how our School promotes data-driven decision-making applications and business model innovation in research and education, enhancing the scientific basis for strategic decision-making and operational management, and striving for high-quality and impactful applied research.

To gather insights from key stakeholders of local insurance industry on the integration of Greater Bay Area insurance market and comparison of social insurance models between Mainland China and Hong Kong, the team also visited several companies, including Consolidated Marketing Group International Wealth Management Ltd., Chow Tai Fook Life Insurance Company Ltd., HSBC Hong Kong, the Insurance Authority, and AXA Hong Kong.

In summary, this field research study has been highly fruitful, and we believe it will bring up unique content and insights into the research projects. We look forward to achieving remarkable results and having a significant impact on the insurance market in the Guangdong-Hong Kong-Macao Greater Bay Area.