In May 2012, the Korea Insurance Development Institute held the Asian Ratemaking Organizations Conference in Seoul (hereafter referred to as the "Seoul Conference") and called for the participation of the RSOs from five Asian countries/regions (hereafter referred to as "Five Organizations") in order to exchange opinions and information. The Five Organizations* reached an agreement to alternately convene an annual forum for Asian countries. The concept ofthe IIRFA was thus founded.

* General Insurance Rating Organization of Japan (GIROJ), Insurance Premium Rating Bureau of Thailand (IPRB), Insurance Service Malaysia Berhad (ISM), Korea Insurance Development Institute (KIDI) and Taiwan Insurance Institute (TII).

In accordance with the agreement of the Seoul Conference, IIRFA was held in May 2013 in Tokyo, Japan. The Five Organizations adapted the IIRFA guidelines and discussed the prospect. As the host organization, General Insurance Rating Organization of Japan (GIROJ) welcomed attendees from twelve institutes in eight Asian countries/regions. At a time of unprecedented natural disasters, such as the devastating earthquake in Japan and thecatastrophic flood in Thailand, which had hit Asian countries/regions and had a serious impact on the global insurance industry, GIROJ invited two Japanese academic experts as guest speakers to give commemorative speeches on earthquake and flood hazard evaluation, respectively. Each of the Five Organizations also gave a contributed presentations on respective themes based on their own business experiences.

IIRFA 2014 was held in May in Taipei, Taiwan. As a host organization, Taiwan Insurance Institute (TII) welcomed attendees from twelve institutesof ten Asian regions. Particularly in this meeting, members agreed to operate the Subcommittee to enable more exchanges of information between member organizations. The Insurance Information Bureau of India (IIB) was accepted as the sixth member in this IIRFA. After this forum The Insurance Association of China (IAC) was accepted as the seventh member in this IIRFA.

IIRFA 2015 was held in Kuala Lumpur, Malaysia. Insurance Services Malaysia (ISM) hosted "The Next Big Leap: Liberalization & Fraud Prevention" a seminar in conjunction with the Insurance Information & Ratemaking Forum of Asia (IIRFA) 2015 on the 28th of May 2015. The forum created a platform for participants to exchange information and knowledge on topics such as insurance ratemaking and statistics, fraud detection systems, and methods of coping with challenges faced in changing environments.

IIRFA 2016 was held in Hyderabad, India. Insurance Information Bureau of India (IIB) hosted IIRFA 2016. It had twin themes of Ratemaking and Insurance Analytics & Financial Inclusion in Insurance. Special sessions on Life Insurance Analytics and Disaster Management and Financing were part of the program as were Panel discussions on Fraud Control using Big Data Analytics and the integral linkages between micro-finance and micro-insurance.

IIRFA 2017 was held in Bangkok, Thailand. Health·Life insurance and Big data analysis were two major themes for the open forum.

This executive level meeting was held at Da Nang, Vietnam. Each member delegates had an active discussion about the future direction of IIRFA and shared recent trends of the Asian insurance markets.