Taiwan Insurance Tenders

Taiwan's insurance market is a powerhouse, with a whopping $78.3 billion in gross written premiums for non-life insurance alone in 2022. That's a lot of coverage! This growth is fueled by a tech-savvy population, rising disposable incomes, and a focus on innovation.

The Taiwan government is a major insurance buyer, seeking coverage for everything from employee health to construction projects. This opens doors for insurers, with an estimated $1.2 billion spent on insurance procurement annually.

Health insurance tops the list, followed by property and casualty, auto, and even cyber insurance. Sustainability is also a buzzword, with green initiatives driving demand for environmental risk coverage.

The Financial Supervisory Commission (FSC) is the insurance mastermind, setting the rules and guiding procurement. But don't forget the Central Government Procurement Office, they handle the bidding and contract awards.

Local players like Cathay Life and Fubon Insurance are dominating, but global giants like AIG and Allianz are also vying for a slice of the pie. Innovation and digital savvy are key to winning these government deals.

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