vol. XVI no. 1

				Harold Skipper Skipper, C.V. Starr Chair of International Insurance, is a world traveler in the Department of Risk Management and Insurance (RMI). An expert on both the educational and research aspects of insurance, Skipper is an internationally renowned teacher, researcher, author and speaker. One of his greatest ties to China is his involvement with the Asia-Pacific Risk and Insurance Association (APRIA), which Skipper helped create in 1997. The association, the first of its kind in Asia, allowed academicians in Asia to meet their peers and share their research and interests in RMI. Skipper visited China most recently in July 2002 and communicates regularly with many Chinese scholars and insurance executives in China. What is the history of insurance education in China? In the early '90s, hardly any university in China offered insurance or actuarial education. Then the government opened the insurance market to competition, which creates demand for more and better education. As the markets evolve, there is greater interest in the educational and regulatory components, which we've seen in China, Russia and India. Today, at least 10 universities in China have major insurance programs. What sort of impact has APRIA had in China? How has risk management changed? Through APRIA conferences, Chinese scholars have been exposed to some state-of-the-art research on risk and insurance issues, they have developed a much better appreciation for what constitutes sound research and teaching excellence, and they have networked with scholars from numerous other regions, including the United States and western Europe, and in the process have exchanged ideas and knowledge. I believe that APRIA has had the effect of enhancing meaningfully the quality of risk and insurance education in China and other countries in the region. It has also exposed Chinese scholars to the possibility of acquiring additional education through visiting other universities, including Georgia State. A majority of students in the Robinson College's PhD program in RMI are from China. Why are Chinese students interested in this area and why do they choose to study in the United States? Risk management as we understand it in the United States is not well developed in China. Instead, a much greater emphasis is placed on insurance as a risk financing tool. As such and with a nascent insurance market, the demand for well-educated employees is quite high and growing, particularly in technical aspects such as actuarial science. Chinese students come here to study because they hope to secure a quality education that will benefit them throughout their lives, including the important aspect of enhancing their cross-cultural understanding. How will RMI continue to develop in China? I believe increasing emphasis will be placed on risk management. At present, several Chinese educational programs in insurance are more akin to what we would consider training programs rather than true educational programs. This is changing with time. Demand for insurance will continue to grow at a rate twice that of economic growth, so opportunities will continue to be strong in insurance, as will demand for professors in risk management and insurance and for their students. As a world power, how will China grow and develop in the next five years? China will continue to make a mark for itself as a world power. Absent major disruptions, economic development will continue at a strong pace, with the result that China will command both greater attention and respect. Its demographic problems resulting from the single-child policy will not hit hard during the next five years but will pose problems later as the population ages. The disparity in living standards and education between urban and rural citizens will continue to grow along with pressures to address the disparity. We can expect and hope that the Taiwan issue will do no more than simmer over this period. I also think pressures will continue for greater economic and political freedoms. Top | Back | Next Page

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