INSURANCE INSTITUTE FOR ASIA AND THE PACIFIC
50th President’s Report to the Annual Membership Meeting
Insurance Institute for Asia and the Pacific May 5, 2025
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It is with great pride and gratitude that I present to you the President’s Report for the year 2024 - a milestone year as we celebrated the 50th anniversary of the Insurance Institute for Asia and the Pacific. In a time marked by rapid change, emerging risks, and evolving expectations in the insurance industry, the Institute has remained steadfast in its mission to elevate technical excellence, foster professional growth, and provide relevant, timely education not only to our stakeholders but the broader insurance community.
We are happy to report on the various accomplishments of the Institute during this historic year. As we reflect on a period that has seen both challenges and innovation, we are pleased to highlight the following milestones and initiatives that made 2024 truly meaningful:
The Philippine Insurance Summit 2024
The IIAP successfully mounted its flagship event, bringing together thought leaders, industry executives, regulators, practitioners, and educators from the country and the region. Held on May 30, 2024, at the New World Hotel, Makati, the Summit was a collaboration between IIAP and PIRA, and featured 12 distinguished speakers who delivered high-quality content on the theme "Navigating the Future: Trends, Technology, and Transformation in the Evolving Landscape of Insurance." The highlight was a compelling keynote address from the Insurance Commissioner. A short tribute to Mr. Ronnie De Dios, founder of the Philippine Insurance Summit, was also delivered by the Chairman of the IIAP, Mrs. Ming Jacinto, along with a posthumous recognition presented by Mrs. Jacinto and Ms. Eden Tesoro, Chairperson of PIRA, to the De Dios family.
Asean Professional Insurance Diploma (APID)
The launch of the Asean Professional Insurance Diploma or APID marked a major step in regional certification efforts, offering a robust, ASEAN-recognized qualification to elevate technical competence and career development among insurance professionals. The Asean Professional Diploma was launched in 2024, with the participating Institutes, such as SCI, AII, TII, DAI and the IIAP. The inaugural course for the Philippines was held on April 4 & 5, 2024, with 23 participants for Module 1 on Underwriting and Claims Practices in the Philippines. Module 2 on Environmental & Climate Risk Management (Philippines) was held on September 18, 2024 with 16 participants.
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First Lunch and Learn
We’ve created this innovative learning experience – a dynamic 2-hour session seamlessly integrated with lunchtime. Providing busy insurance professionals with valuable expert insights without disrupting their demanding schedule. Four (4) Lunch and Learn Sessions were held during the year, with the topics:
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Talent Development and Retention
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Impact Speaking
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Insurtech 101
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From Income to Wealth
Collaboration with SCI and AII
We strengthened regional ties through meaningful collaborations with the Singapore College of Insurance (SCI) and the Asian Institute of Insurance (AII) formerly Malaysian Insurance Institute, enabling mutual recognition, resource sharing, and joint learning initiatives. ​
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First Certification Course in Insurance Broking (Singapore & Philippines)
To support the professionalization of insurance broking, we offered our first certification course in broking operations, tailored for those who want to deepen their foundation and knowledge into the broking practice and those transitioning into broking roles. This was held last October 22 to 24, 2024, in collaboration with the Singapore College of Insurance and was attended by 24 participants. -
Electric Vehicle Underwriting Seminar in Kuala Lumpur, Malaysia
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The Institute sent a delegation of 11 underwriters and claims practitioners and one IIAP Faculty to AII to participate in a specialized seminar on Electric Vehicle Underwriting. This initiative allowed our delegates to gain valuable insights into emerging underwriting practices, risk assessment approaches, and regulatory considerations for EV insurance—with the goal of applying learnings to local practice, future training and product development. The seminar was held on October 24 & 25, 2024.
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Electric Vehicle Underwriting and Claims Online Seminar, held in collaboration with SCI
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The Institute, once again in collaboration with SCI, conducted a session aimed at equipping insurance professionals with the essential knowledge and skills to effectively handle the unique aspects of Electric Vehicle (EV) Underwriting and Claims. The event was successfully held on November 20, 2024, and was attended by 40 participants.
Asean Reinsurance Program (ARP) 4th Intake
The Asean Reinsurance Program or ARP continued on its 4th Intake in the Philippines, with the following courses.
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Reinsurance Market Developments, April 30, 2024, with 21 participants
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Reinsurance Pricing, October 28, 2024, with 8 participants
Our neighboring Institutes in the Region on the other hand, delivered eight other reinsurance courses for the rest of the year.
Economic Briefing for Insurance Industry Executives
Last year’s Economic Briefing featured a renowned former senior executive of the Department of Finance, Dr. Felipe Medalla who provided valuable insights on macroeconomic trends, fiscal outlooks, and their implications for the insurance sector. This was done during the Opening Ceremonies of the 50th Anniversary Celebration.
50th Anniversary Celebration
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A historic milestone, the Institute’s golden anniversary was commemorated through a month-long celebration that honored our legacy, recognized our partners, and reaffirmed our commitment to shaping the future of insurance education. With the theme, 50X or 50 raise to the power of X, we declared our ambition to scale, to build on what we have accomplished over the last 50 years, to bring greater impact in the industry and advancing insurance education in the Philippines. The Opening Ceremonies was held on August 9, 2024, with guests from the Insurance Commission and was graced by Senior Executives of the Industry and Presidents of the different Industry Association. It was capped by a Culminating Event on September 11, 2024, a Gala night, honoring the IIAP’s 50-year legacy and recognizing the past and present members of the board of trustees.
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50th Anniversary Free Seminars
As part of the anniversary celebration and advocacy for continuous learning, we conducted a series of free seminars covering relevant and emerging topics, open to all industry professionals.
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Faculty Conference and Recognition
At this year’s Faculty Conference, held on December 5, 2024 we provided a platform for professional exchange among educators and trainers, and proudly honored outstanding faculty members whose dedication, innovation, and impact have helped shape our learning community. With the theme, FROM INSIGHT TO IMPACT: MARKET UPDATES, EFFECTIVE COMMUNICATION AND LEVERAGING AI IN EDUCATION, the Conference featured 2 learning sessions from two (2) distinguished speakers from the Academe, Updates from PIRA, PLIA and NatRe and panel discussion on Shaping Tomorrow’s Curriculum with Tools and Emerging Market Trends.
East Asian Insurance Congress
The Institute actively participated in the East Asian Insurance Congress (EAIC) 2024 held in Hong Kong. Representing the IIAP, Chairman Mrs. Herminia S. Jacinto and Trustee Mr. Michael F. Rellosa both served as distinguished panelists during key discussions at the event. Mrs. Jacinto contributed her insights during the panel discussion on “Diversity, Equity & Inclusion (DEI) in Insurance: Linking Diversity to Innovation and Performance”. Meanwhile, Mr. Rellosa, who also served as President of the EAIC, shared his expertise as a panelist in the session titled “Customer Centricity in Insurance: Empowering Policyholders and Enhancing the Value Chain”.
ASEAN Insurance Council Regional Conference in Brunei
The Institute proudly participated in this key regional event. Our Education Director delivered a presentation at the ASEAN Reinsurance Working Committee, while our Executive Director—serving as Vice Chairman of the ASEAN Insurance Education Committee, was represented by Mr. Mitch Rellosa, IIAP Board of Trustee who delivered the updates to the AIEC and represented the Institute in strategic education discussions with regional counterparts.
SUITS
The Select Universities Insurance Training and Scholarship Program of the IIAP was able to train a total 6 outstanding university graduates who underwent 2 months of extensive training. Last year’s batch was the 8th batch of SUITS scholars since the program began.
In-House and Provincial Courses
The IIAP in 2024 continued to tailor 16 in-house training programs which were delivered to partner organizations to meet their specific learning needs and strengthen internal capabilities in underwriting, claims, risk management, and other technical areas. Public provincial courses were also held in Cebu and Davao.
Total Number of Students
We are proud to report a sustained growth in student participation, with a total of 2,248 learners enrolling in various programs, courses, and workshops across multiple formats. The breakdown of this is as follows:
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The Basic Non-Life Insurance Course – 693 participants
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The Intermediate and Advanced Courses – 437 participants
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The Regional and Soft Skills Seminars and Workshops – 1,118 participants
Life Insurance Exams Administration through LIA-VFE
The IIAP administered the Life Insurance Agents Validating Final Examination (LIA-VFE) to a total of 26,504 examinees in 2024, an increase of 66% from the previous year. In support of our member companies from the life insurance sector, this examination service continues to be a vital contribution to the industry’s efforts to expand and professionalize its agency force. The significant growth in examinee volume reflects the life industry’s continued confidence in the Institute’s academic integrity, operational efficiency, and high testing standards.
2025 First Quarter Accomplishments
At the start of the 2025, the Institute was able to accomplish the following:
1. The release of the 2025 Training Calendar
2. The IIAP’s 2025 Awarding Ceremonies for year 2024 which was held on February 12, 2025 with 116 awardees at the IIAP Function Hall.
3. The 1st Lunch and Learn on AI in Insurance
5. The IIAP’s Newsletter first quarter issue
6. The exclusive courses for Insurance Commission, Standard Insurance and Unicon Insurance Brokers
7. SUITS Batch 9. The recruitment and onboarding of candidates joining the upcoming batch of SUITS is ongoing. The program is due to commence on June 2, 2025 and will run until August 8, 2025.
8. And not to mention the support IIAP provided the Insurance Commission on their free seminars held last March 18 and 19, 2025 in connection with their 75th Anniversary.
NEW MEMBERS
In 2024 the IIAP was pleased to welcome new additions to the membership, namely:
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Eastwest Insurance Brokers, Inc. represented by its President, Mr. Joel Belardo
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Mr. Roderick Cabusao as Individual member.
TOP 5 IIAP PATRONS
On behalf of the Board of Trustees of IIAP, I would like to thank our top five patrons for 2024.
These are:
1. BPI MS Insurance Corporation
2. Liberty Insurance Corporation
3. Pioneer Insurance & Surety Corporation
4. Government Service Insurance System
5. Bethel General Insurance & Surety Corporation
At this point, we wish to express our heartfelt gratitude to all our Members and Patrons, and to the esteemed members of the Board of Trustees, for their unwavering support and continued trust in the Institute and its programs. We also extend our sincere appreciation to the dedicated management and staff of the Institute, whose tireless efforts and steadfast commitment have been instrumental in the successful implementation of our initiatives throughout the year.
As we look ahead, we draw strength from our 50-year legacy and commit to further build on. Your Institute remains dedicated to enhancing its services by offering relevant trainings, meaningful collaborations, and forward-looking activities that will support the growth and advancement of our industry.
Thank you once again, and we wish you a pleasant and productive afternoon!
RAUL B. TAN
President, IIAP