Jo, Hyun Min L.

(AnYeong)

10929576

PIRA Talk The Philippines Insurers and Reinsurers Association or the PIRA was a great seminar that made me realize the importance of the existence of insurance. First of all, Ive learned that there are two types of insurance company; Life and non-life. Life insurance companies deal with insurance that involve threat on the health of the people. On the other hand, non-life insurance companies deal with insurance that involve threat on the assets of the people. In the talk, we only talked about the non-life insurance and one of the many great things that was unforgettable was when the speaker said that non-life sees better ROE than life. The PIRA talk also talked about why we should consider going into insurance corporate world in the future. Insurance industry in the US involves bigger market and money than the banking industry. And I think the speakers were anticipating that the Philippines can be like the US in any time soon. And also, insurance companies pay their employees very well together with many other privileges. Insurance in our lives is very importance. For me, I think it is one of the finest inventions people have ever created. It is insurance that help us live with lesser burdens in life because it enables us to be protected from losing a bulk amount of assets of what we have accumulated. To put it in different way, it allows us to have more liquidity. Before, I used to have a negative perception about insurance that insurance companies are unethical because they think people lives as a commodity. But now, I think

differently. Everyone must be informed and should utilize the benefits of insurance.

FISPETO K31