A significant event for 2015 which a majority of organizations have been diligently preparing for is the implementation of the ASEAN Economic Community (AEC). The ASEAN region comprises some of the fastest growing economies in the world and the formation of the AEC will help encourage rapid market growth, capital free flow, provide new investment opportunities in member countries, and help the region to play a leading role in shaping a world trade and financial system that is more responsive to its future needs. The World Bank has indicated that it plans to promote Thailand as the insurance centre of ASEAN to assist in providing professional services while also promoting and improving the industry in neighboring countries.