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Cathay Financial Holdings (Cathay FHC), represented by President Chang-Ken Lee, has demonstrated a commitment to climate action by participating in the prestigious Climate Investment Summit. Lee emphasized the need for collaboration to address infrastructure challenges for electric vehicles. Asia's role in climate investment, clean energy projects, and global initiatives are key focus areas for Cathay FHC. The company actively engages in sustainability efforts, net-zero targets, and collaborative initiatives to drive the transition to a low-carbon economy.
Moreover, Cathay FHC recently held its Annual Conference on Technology, focusing on integrating major technologies like AI, Blockchain, Cloud, Data, and Ecosystems. The conference emphasized the transformative role of digital technologies in enhancing customer experiences and driving innovation in the financial sector. Cathay FHC unveiled its AI governance principles, strategic projects in Federated Learning and Synthetic Data, and a new large language model with RAG for automated real-time Q&A services. The company's initiatives in blockchain partnerships, insurance cloud platforms, and cloud-based electronic medical records demonstrate its commitment to technological innovation and industry advancement.
Cathay Financial Holdings (Cathay FHC) has partnered with the World Climate Foundation (WCF) for the third consecutive year to enhance climate finance initiatives. In an online ceremony, leaders from both organizations discussed the vital role of financial institutions in supporting sustainable economic development and facilitating investments in green energy transitions. Cathay FHC has been instrumental in promoting climate-risk mitigation in Asia since becoming WCF's first strategic partner during COP26 in 2021. The collaboration aims to address urgent issues at upcoming climate events, including COP28, highlighting the financial sector's importance in achieving a low-carbon economy. Jens Nielsen, CEO of WCF, praised Cathay FHC for its significant impact in the Asia-Pacific region, indicating the need for reform in international financial institutions to boost climate finance.
Cathay Life Insurance, Taiwan's largest insurance company, unveiled a new health-first strategy focusing on risk identification and customer health improvement. The strategy includes the introduction of the wellness program 'FitBack' within the Cathay Life App, incentivizing policyholders to enhance health in exchange for reduced premiums. With over 20 million policies, the company emphasizes proactive health management, particularly for the elderly and those with suboptimal health, partnering with clinics for personalized care. Cathay Life aims to lead the market in spillover insurance profits while adapting to challenges like an aging population and technological advancements.
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