IFoA, Asia Conference 2016
Matthew Maguire and Yuen Leng Chin
Matthew and Yuen presented at the 2016 IFoA Asia actuarial conference in Kuala Lumpur on quantifying reserves uncertainty using non-traditional techniques, encouraging actuaries to continue to innovate and explore better ways to solve actuarial issues.
With the Asian market expected to continue to experience tremendous financial growth in the next decade, the conference provided an ideal platform to discuss key issues in these Asian markets, share experiences and introduce new techniques to tackle the current market issues.
>> Click here to read more about the two day IFoA Conference.
With the high profile plenaries, thought-provoking workshops and over 400 attendees, the event has provided an excellent opportunity to develop relationships with actuaries from all levels. It also highlighted the importance of knowledge sharing and how it can help to further shape business ideas and opportunities covering all practice areas.
The 2016 IFoA Asia conference opened with a welcome address by Patrick Cheah, the Chair of the Organising Committee. This was followed by a plenary session from Colin Wilson, President-elect of the IFoA on how to raise the awareness of the actuarial profession through innovation.
There were a series of workshops throughout the day covering a wide range of topics, such as wearable technology and health insurance, big data, the changing landscape for General Insurance in Asia, Enterprise Risk Management in emerging markets, foreign currency exposure management etc. The first day brought two additional plenary talks by Dr. Khoo Kah Siang from Great Eastern Singapore on the public perception of Life Insurance industry and Zainal Mohd-Kassim from Actuarial Partners on his take on the future of Takaful. The first day rounded off with drinks and dinner accompanied by the captivating traditional Malay dances.
Day two sessions started with a panel discussion on harmonising solvency frameworks across a region by Professor Karel Van Hulle with his extensive experience on Solvency II, Wai Yi Lee from Monetary Authority of Singapore and Yoon Yew Khuen from Bank Negara Malaysia moderated by Mark Saunders from AIA Group. There were further workshops sessions covering behavioural economics, professional responsibility of an actuary, the state of current reinsurance market etc. The final plenary was an interesting session by Peter Banthorpe from RGA discussing Big Data and how this trend will become the key basis of competition and innovation in the today’s world. Patrick Cheah closed the event with thanks to all the sponsors and delegates in attendance and the announcement that the IFoA Asia conference would be returning next year.
If this topic interests you, download a copy of Matthew and Yuen’s presentation here: IFoA Conference 2016 – Reserving with Simulation