- Monday 21 Oct
- For more information, please click on the individual boxes to find out more.
Click here to download programme in PDF
Download - Welcome Cocktails
- Tuesday 22 Oct
- Opening Ceremony
- Keynote I
- Tea Break
- Keynote II
- Lunch
- Parallel I
- Tea Break
- Parallel II
- End of Day 1
- Wednesday 23 Oct
- Parallel III
- Tea Break
- Parallel IV
- Lunch
- Plenary I
- Tea Break
- Plenary II
- Gala Dinner
- Thursday 24 Oct
- Plenary III
- Tea Break
- Plenary IV
- Closing Ceremony
- Lunch
- Afternoon Activities
Welcome Cocktails
Welcome Cocktails
Venue: Resorts World Sentosa, S.E.A. Aquarium
Registration & Entry to S.E.A. Aquarium: 6.00pm
Opening Speech: 7.30pm
Evening closes: 10.30pm
Dress code: Business Casual
Sponsored by:
Opening Ceremony
Opening Ceremony | |
Opening Performance: Lion Dance | |
Welcome Speeches | |
Frederic Weber, President, SAS | |
Tony Cheng, EVP, RGA | |
09.00am – 09.50am | |
“Belt and Road” macro economics under the changing political environment | |
The Belt and Road initiative is perhaps both the most significant and least well understood foreign policy initiative of the 21st century. This talk will explore the logic behind the BRI and its expanding scope — now encompassing more than half the world’s population and GDP. With the BRI’s focus on infrastructure investment, the priorities for investment will be explored. Financing these investments has raised concerns about debt sustainability in recipient countries, but these appear to be exaggerated. But there are constraints in China’s ability to continue to finance the bulk of BRI investments, which call for greater participation by other countries and international financial institutions. | |
Michael Spencer, Managing Director and Chief Economist, Deutsche Bank APAC |
Tuesday - Keynote I
Keynote I | |
09.50am – 11.00am | Rejuvenation biotechnology: the end of extrapolation |
Moderator: Danny Quant, Consulting Actuary, Milliman Private Limited | |
Dr. Aubrey de Grey, Chief Science Officer, SENS Research Foundation, USA |
Tuesday - Keynote II
Keynote II | |
11.30am – 12.30pm | IFRS17 from the IASB |
Moderator: Akash Gupta, Head of Valuation, Munich Re’s Life and Health, Asia | |
Darrel Scott, IASB |
Tuesday - Parallel Session I
Life & Health Parallel | Moderator: Sunil Sharma, President, Institute of Actuaries of India |
Understanding the challenges of ageing: Meeting the needs: | |
With the ageing population growing faster than ever, especially in Japan (36 million in 2025), many are seeking new and innovative ways to address these unmet elderly needs. Currently, the Japanese government estimates that by 2025, 7 million people in Japan will be diagnosed with dementia. While dementia is not a normal part of ageing, it is becoming more prevalent among the older population. With this we are also seeing an emerging need for dementia health protection solutions across Asia.
In this session Yosuke Fujisawa will take us on a journey to envision the expectations and needs of a dementia patient. So we can understand how to best apply technology in the design of innovative and holistic dementia protection solutions to meet the needs of our future customers. Then, drawing from his actuarial experience, he will dive into analysing some of the in-market dementia protection solutions and provide more insights on how we can better manage new and emerging dementia risks. |
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Yosuke Fujisawa, Vice President L&H Solutions, Swiss Re, Japan | |
2.00pm – 3.45pm | Insights of ageing policies in a few Super-Aged countries – Be responsive to secure the opportunities |
This presentation compares and contrasts the public policies and plans for ageing in Singapore, Hong Kong and Japan. Insights on the ageing culture of the countries of interest, and ageing practices, policies and plans at the individual, community, and national levels will be revealed. As each system evolves to adapt to its unique societal needs, common public health challenges may inevitably be encountered; this analysis serves to inform on best practices on managing the ageing situation, and provide fruit for thoughts for insurers and reinsurers to develop and innovate solutions to capitalise on the opportunities of the ageing society. | |
Joey Zhou, Director Product Development, RGA, Singapore | |
Disability Income – Crazy Rich Products | |
Disability Income (DI) is a growing area of need in addressing the gap in protection all across Asia. One third of people will have experienced some illness or accident that prevents them from working before their retirement age. We will take you through the journey of successful products from mature markets, as well as some learnings and lessons. A successful product journey is a well-balanced finesse between customer needs and risk.
Can’t be too crazy, can’t be too rich. In this presentation, through case studies and pricing journey line, we will all together, discover the right path for DI in Asia going forward. |
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Yan Sun, AXA, Australia | |
General Insurance Parallel | Moderator: Ronald Kozlowski, Lead Consultant, RTK Actuarial |
Loss prediction model accuracy comparison of motor extended warranty insurance | |
This paper will discuss the difficulty of motor extended warranty rate-making and review existing approaches to tackle current difficulties. It will also compare the prediction accuracy of GLM, SVM, and deep learning methods using data from Korea and China. | |
JiSun Park, Pricing Manager, Scor, North Asia | |
2.00pm – 3.45pm | Leveraging insights |
Dynamic economies, regulatory shifts and digitalisation – all pose new challenges for insurers. How can a reserving actuary today leverage insights from the multiple valuations to help stakeholders make better decisions? | |
Michael Eves, Certifying Actuary, Swiss Re Asia, Singapore/UK | |
The Smaller General Insurance Markets in Asia | |
The insurance markets in the Asian countries will have a significant contribution to the global market growth in the coming years. Developing countries such as China, India and Indonesia are expected to experience strong growth due to higher demand for insurance from an expanding middle class. Singapore, Japan and Hong Kong are considered to have a more mature market in the region. In addition, they also have better resources and expertise. In contrast, there are very new and lesser known markets such as Brunei, Cambodia, Lao and Myanmar. They are very small in size. The objective of this paper is to provide insight into these markets (despite certain information possibly not being available). The paper covers the following sections: – Market overview – Regulation (including capital and solvency requirements) – Availability of actuarial staff | |
Leng Diep, Chief Actuary, LC Brokers, Cambodia | |
Society of Actuaries Parallel | Moderator: Dr. Yung Wai Ling, Asia Pacific Lead, Society of Actuaries |
Are you ready? How AI and other technologies are changing the work of actuaries | |
This presentation will discuss how big data and new technologies are changing how actuaries work: by creating new insights to data, new opportunities for actuaries’ and new challenges to how actuarial work is done. The session will share information the SOA Board of Directors has used in its discussions of long-term growth strategy for the SOA and the future of the actuarial profession. | |
Andrew Peterson, Senior Director, International, Society of Actuaries, USA | |
2.00pm – 3.45pm | The Evolving Use of Big Data and Data |
Analytics: Risks and Opportunities in Asia Pacific – An SOA Research Study | |
There is a rapidly developing environment with respect to the use of Big Data and Data Analytics in the Asia-Pacific region. Insurers and regulators in the region have an awareness of and appreciation for the potential benefits of Big Data and Data Analytics. This presentation will feature key learnings from a recently completed research report by the Society of Actuaries titled: The Use of Big Data and Data Analytics to Enhance Insurer Operations in Asia-Pacific. | |
Dr. Alfred Ma, Adjunct Professor, Hang Seng University of Hong Kong and City University of Hong Kong – Hong Kong |
Tuesday - Parallel Session II
Human Touch Parallel | Moderator: Velda Tan, Senior Analyst, AXA XL, Singapore |
Thinking Fast & Slow for Actuaries | |
This paper will examine improving decision making in insurance risk underwriting. A key component of insurance risk underwriting decisions is qualitative judgement, in addition to quantitative analytical modelling. In the training of actuaries, great strides have been made on the analytical side. However, the training of judgement, both intuitive and deliberate, has largely been ignored. The aim of this research proposal is to design and test training programmes to improve judgement in insurance underwriting. I firstly plan to extend the script training concept, used extensively in medical training, to the domain of insurance underwriting. I will look to capture the scripts of experienced underwriters; contrast this with novices and then use these data to develop a training invention program for training intuition. I then look to extract the simple rules that underlie the intuitive judgements and use these to train more deliberate judgements. | |
Gavin Maistry, Chief Actuary & Chief Risk Officer, Munich Re, Singapore | |
4.15pm – 6.00pm | Becoming Human-Centric – Using Design Thinking to Innovate In Insurance |
How can actuaries leverage human-centric design to create new products and services that are relevant to the customer? Learn the design-thinking framework and see how it can be applied to insurance. | |
Justin Yiu, Product Manager, Solaria Labs, Liberty Mutual, Singapore | |
Creating a High Performance Team Culture | |
When a team culture feels right then the team will naturally perform optimally. We will explore what a company, team manager and team member can do to create a high performing team culture. Be the change you want to see. The environment we create is a reflection of our thinking and behaviour. | |
Jas Singh, Founder, SKL Actuarial, Australia | |
Kate Bleakley, Actuary, SKL Actuarial, Australia | |
IFRS17 Parallel | Moderator: Steve Hui, Council Member, Institute of Actuaries of Australia, Australia |
IFRS 17 implications in General Insurance | |
IFRS 17 poses a significant change to the financial reporting for the insurance industry, spanning actuarial modelling, data, technology and finance processes. We will explore the implications on GI, which has historical not had as much emphasis. | |
Mehul Dave, Director, Deloitte, Singapore | |
4.15pm – 6.00pm | Implementing IFRS 17 discount curves: theoretical and practical challenges |
Gavin Conn, Director, Moodys, United Kingdom | |
Lessons learnt from the ongoing IFRS 17 implementation | |
Steve Cheung, Senior Consulting Actuary, EY, China | |
Institute of Faculty of Actuaries Parallel | |
Leading Change in New Paradigms | |
Moderator: Suee Chieh Tan, President-Elect, IFoA | |
Anusha Thavarajah, CEO Life & Health APAC (Dec 19), Allianz, Singapore | |
4.15pm – 6.00pm | Azim Mithani, EVP, Singapore Life, Singapore |
Charles Hung, CEO & Executive Director, Blue (Aviva Life), China | |
Ofir Shalev, Chief Data Officer, GoJek, Singapore | |
Wednesday - Parallel Session III
Innovation Parallel | Moderator: Hitesh Shah, Managing Director & Actuary, Shah Advisory Pte Ltd |
Augmenting underwriting | |
Other economic sectors such as healthcare are fast developing to incorporate artificial intelligence and advanced analytics as an aid to (augment) medical professionals. The question of how AI will be incorporated across the insurance chain and actuarial roles is still evolving. This presentation provides a practical demonstration of how machine learning / AI can tangibly support insurers in underwriting while meeting the requirements of interpretability and risk management. | |
Lee Sarkin, Head Data Analytics, Munich Re | |
9.00am – 10.45am | InsurTech – How actuaries can contribute |
While InsurTechs are good at technology, their solution can reach to the wider group only when they collaborate with re/insurers. Who better than actuaries to help InsurTechs in this journey? But are actuaries ready? What do they need to learn & do? | |
Sumit Ramani, Consulting Actuary, Actuaria Consultants | |
Cyber Protection via Detection-less Paradigm | |
Today’s cyber landscape is radically different from the past. Advanced threats are stealthy and lethal. They are difficult to detect. Unfortunately, cyber protection technologies continue to progress in a detection-oriented framework. It is therefore not uncommon for malicious codes to reside in a plant or enterprise network and stay undetected for hundreds of days, exfiltrating data in complete silence. Traditional methods are no longer working. Detect nothing does not mean it is safe. A detection-less strategy is imminently needed. This sharing session focuses on addressing the common gaps in today’s cyber protection strategies collectively and offers the thought leadership to fill these gaps from a highly operational, practitioner’s perspective. In summary, with an effective protection paradigm, cyber insurance could possibly underwritten with more competitive premium since relatively higher cyber security posture becomes achievable. |
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Raymond Cheung, Actuary – Risk Consultant, Bayswater Consulting, Singapore | |
Ewen Lim, Regional Vice President, Athena Dynamics, Singapore | |
Health Parallel | Moderator: Anuj Behl, Senior Manager, Strategy, Management and Investment Reporting, Aviva Ltd, Singapore |
VHIS – A product from over 3 decades of public consultation | |
Covering background & history of VHIS driven by HK Government, launched 1 Apr 19, details of the scheme, risk management and issues surrounding the scheme, early learning, and a comparison between government driven schemes from HK, China & Singapore. | |
Orchis Li, General Manager, Gen Re’s Hong Kong Branch, China | |
9.00am – 10.45am | Chronic Diseases and Diet |
Both scientists and doctors have found convincing evidence linking many chronic diseases with diet, but competing interests have prevented the progress we might otherwise expect. Actuaries can help. | |
Mark O’reilly, Senior Advisor, Deloitte, China | |
CI insurance for the (once) uninsurable – Diabetics | |
This session aims to share the findings from Voice of Customers (VOC) and Voice of Distributors (VOD), diabetes management program, as well as the product design of CI products for the diabetics in Singapore. | |
Shong Kay Ying, Director, Product Development, RGA | |
Actuaries Institute Parallel : | Moderator: Andy Yang, Chair of Asia Sub-Committee, Actuaries Institute Australia, China |
Lessons Learnt from the Royal Commission | |
Australian financial institutions have been criticised for failing to meet public expectations. However, this is not just a domestic issue. Many modern Institutions do not seem to be effectively managing the risks that come from swiftly changing social attitudes and the power of new social capabilities. Managing these ‘social risks’ needs a fresh approach and the Royal Commission’s report will spark even greater scrutiny of the performance and culture of financial institutions. What does the Royal Commission mean for you as an actuary and what should you do differently in future? As an actuary working in the modern business environment affected by corporate culture, media pressure, and societal issues, how can you as a professional effectively deal with ethical dilemmas? Find out how you can drive positive outcomes for your team, your organisation and consumers. |
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Nicolette Rubinsztein, President of Actuaries Institute Australia, Actuaries Institute Australia, Australia | |
Caroline Bennet, National Leader, Deloitte Actuaries and Consultants, Australia | |
9.00am – 10.45am | |
Australian Data Actuaries | |
Actuaries are increasingly identifying themselves as working in “data”. Actuaries have analytical and business knowledge skills as well as ethical and professional standards that are valuable in this field. Andy will provide a few case studies of actuaries from the Actuaries Institute Australia and what they are doing within the data science field. The case studies will give the audience a short bio of each person, offer a quote from each of them, show how they are engaged in these industries, and to provide some information about where they work.By showcasing data actuaries, other actuaries may be inspired to enter the data field and are encouraged to be entrepreneurs. |
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Andy Yang, Chair of Asia Sub-Committee, Actuaries Institute Australia, China | |
Wednesday - Parallel Session IV
Life Re Parallel | Moderator: Vitaly Beliavski, Director – Life, A&H Reinsurance, Aon Benfield, Singapore |
Crazy Responsive Experience Studies | |
Developing mortality, morbidity and lapse rate tables can be fun! In his presentation, Kai Kaufhold, a recently joined member of the SAS, will demonstrate how statistical analysis at the level of the individual can make the crazy responsive actuary even more responsive and provide in-depth insights into the experience of the portfolio of a life or health insurer at a granular level. The statistical methods used in this case study form the missing link between traditional actuarial analysis and predictive modelling.
Retaining information at the level of the individual insured life makes it possible to combine ‘small data’ which is already in the companies’ policy administration systems with ‘big data’ from external data sources to generate powerful predictions on the performance of insurance risks and policyholder behavior. Kai will give a brief introduction into the theory of advanced portfolio analytics, and then demonstrate a case study in R. |
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Kai Kaufhold, Partner, NMG, Germany | |
11.15am – 1.00pm | Market Responsive Reinsurance |
How can the Life & Health reinsurance market respond to the primary industry challenges? Low interest rates: can reinsurance meet historically unmet needs? How to use reinsurance capital and shift to capital-lighter business? | |
Pierre Vende, Head of Accident Health and Life RI solutions, AON | |
Claim Scoring Models: Creating scale and improved outcomes | |
Managing health disability claims means constantly triaging cases, deciding which cases currently need attention and who should be working on which cases and when. In this talk, PartnerRe will show how use of advanced analytical techniques helps claims teams improve allocation of cases to claims managers, better assess their team’s capacity, and increase efficiency within their processes.
The talk, which is based on over a decade of practical experience, highlights the analytical techniques we apply, and also describes on how this capability is delivered to the insurer. |
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Mariette Thulliez, Chief Pricing Actuary, Partner Re, Singapore | |
Mohamed Faye, Head of Business Development, Partner Re, Singapore | |
Innovation Parallel | Moderator: Chua See Ju, Head of Reserving and Capital, Sompo Holdings, Asia |
How the Actuarial Industry Can Get Ready to Face an Increasingly Unpredictable Future | |
Design for flood resiliency to transcend current flood analysis approaches which are conducted in siloed, non-repeatable and non-integrated manner, and not integrated with real-time inputs or natural events. | |
Dr. Victor Sim, Head of Resiliency (Sustainability and Resiliency Office ),Surbana Jurong, Singapore | |
11.15am – 1.00pm | How AI is transforming Insurance |
The traditional Actuarial skillset and mindset finds itself in no-man’s land with the rise of Artificial Intelligence and the explosion of digital technologies. To navigate the increasing complex insurance landscape, the modern Actuarial skillset needs to be reimagined and refined with Artificial Intelligence. This talk aims to inform the modern Actuary about what is AI, where is humanity at with AI, what are its current capabilities and how AI can be used to reimagine insurance. | |
Karthikan S/O Selvaraj, Data Scientist, Aviva Asia, Singapore | |
Unlocking Telematics with AI and Proactive Engagement | |
Roberto Malattia, Head APAC pricing & portfolio management, AIG, Singapore | |
Casualty Actuarial Society Parallel | Moderator: Jim Christie, President of CAS, Casualty Actuarial Society |
Actuarial Quantification of Cyber Risk for Organisations | |
Shaun will discuss actuarial models for quantifying cyber risks for organisations, with some case examples. Shaun also will discuss cyber risk propagation along the supply chain and implications for cyber insurance. | |
Shaun Wang, Professor, NTU, Singapore | |
Dr. Goh Jing Rong, Adjunct Faculty, Singapore Management University, Singapore | |
11.15am – 1.00pm | |
Analysing the disconnect between the Reinsurance Submission and the Global Underwriters Needs | |
In comparison with pricing and ratemaking of primary insurers, there are more uncertainties in pricing of reinsurers in the world. What’s more, in emerging markets such as some countries in Asia, the situation is even more serious. The uncertainties caused by data quality and usability of some methods/models bring many difficulties to reinsurance pricing in those markets. What special problems should be paid more attention to? How could those problems be overcome and solved? What are the implications for actuaries and underwriters at the primary insurance companies, and for actuaries and underwriters at the reinsurance companies? This session will discuss those points, based on an award-winning paper of the CAS-IFoA Joint Reinsurance Pricing Working Party, “Analyzing the Disconnect between the Reinsurance Submission and the Global Underwriter’s Needs”. | |
Xiaoxuan Li, Head of Actuarial, China P&C Reinsurance Co, China | |
Lawrence Cheng, CUO, Peak Re, China | |
Pricing a Portfolio of Large Commercial Risk | |
Large commercial risk portfolios present unique challenges to the pricing actuary – heterogeneity, for instance, in the nature of risks, the coverage structures, and participation shares among other things. This presentation will provide a comprehensive discussion of the adjustments to bring all the risks at a common level for pricing, produce basic rates at this level and then restating the prices at individual levels. A blend of experience rating and distribution fitting will be presented, in particular exploring the mixed curves that lend themselves well to these objectives. The discussions will demonstrate how to use the experience rates on the credible working layers while calibrating the fitted mixed distributions to produce experience adjusted expected claims for higher layers. | |
Aditya Khanna, Head of Pricing, RSA Group, India |
Wednesday - Plenary Session I
2.30pm – 4.00pm | Leading Through Change |
Moderator: Alex King, Founder and CEO of Actuaries on Tap | |
Nishit Majmudar, CEO, Aviva, Singapore | |
Bernhard Kaufmann, Group CRO, Munich Re | |
Scott Ryrie, Co-CEO APAC, Am Best, Singapore |
Wednesday - Plenary Session II
4.30pm – 6.00pm | Take a stand! |
Moderator: Jill Hoffman, Head of Internal Audit, Munich Re, Asia-Pacific, Middle East & Africa | |
Hassan Scott Odierno, Partner, Actuarial Partners Consulting, Malaysia The rise of the Right Brained Actuary – using creativity and emotions in your job. |
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Dr. Frank Ashe, Non-executive Director Actuaries and AI |
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Colin Priest, Vice President, DataRobot, Singapore Defining an Insurer’s AI Ethics Policy Guidelines |
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Nicolette Rubinsztein, President, Actuaries Institute of Australia, Australia Gender diversity in actuaries |
GALA DINNER
Gala Dinner
Venue: Resorts World Convention Centre, Central Ballroom
Cocktails: 6.15pm
Dinner: 7.30pm – 10.30pm
Dress Code: Business Casual
Theme: Crazy Rich Asians
Entertainment: The Common People (Live Band)
Sponsored by
Thursday - Plenary Session III
9.00am – 10.30am | Public Interest: Regulation and Professionalism |
Actuaries are far more than number crunchers and insurers are more than a pooling mechanism. The Actuary brings a Professional Code of Conduct to their work while Insurance Companies are usually heavily regulated entities.
How can Professionalism and Regulations assist in protecting the Public Interest? |
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Moderator: Chi Cheng Hock, Executive Director, Singapore Actuarial Society, Singapore | |
Tan Suee Chieh, President-Elected, IFoA, Singapore | |
Andrew Peterson, Senior Director, International, SoA, USA | |
Jim Christie, President, CAS | |
Dr. Bruce Porteous, Investment Director, Aberdeen Standard Investments, UK | |
Lee Wai Yi, Director & Head of Supervisory Analytics Division, Insurance Department, Monetary Authority of Singapore, Singapore |
Thursday - Plenary Session IV
11.00am – 12.30am | The World is Changing |
Can incentives really change physical activity? | |
Moderator: Matthew Maguire, Actuary, Pineapple Consultants, Singapore | |
Alain Peddle, Deputy CEO, Ping An Health, China | |
Peter Ohnemus, Founder, Dacadoo, Australia | |
Nick van der Nest, Regional Production Innovation – Asia, Munich Re, China |
CLOSING CEREMONY
12.30pm – 1.00pm | Closing Ceremony |
Afternoon Activities
Communication for the Actuaries Workshop**
Connect@HardRock*
Crazy Rich Asians Tour*
Vintage Vespa Tour*
iFly Singapore*
Mega Adventure Park: Zip, Climb & Jump*
S.E.A. Aquarium*
Universal Studio Singapore*
Note:
*Time to gather will be at 2.00pm at the Resorts World Convention Centre, Central Ballroom Foyer
**The Communication for Actuaries Workshop will be held at Resorts World Convention Centre, West Ballroom 1
Timing may change without notice. Please check back on the AACSG website or the conference app.
Collection of tickets for the following activities: Universal Studios Singapore, Mega Adventure and S.E.A. Aquarium is on Thursday, 24 October 2019 from 8.00am to 1.00pm at the Registration Counter.
Tea Break
11.00am – 11.30am | Tea Break |
Tea Break
3.45pm – 4.15pm | Tea Break |
Tea Break
10.45am – 11.15am | Tea Break |
Tea Break
4.00pm – 4.30pm | Tea Break |
Tea Break
10.30am – 11.00am | Tea Break |
Lunch
12.30pm – 2.00pm | Lunch
Sponsored By |
Lunch
1.00pm – 2.30pm | Lunch
Sponsored By
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Lunch
1.00pm – 2.30pm | Lunch
Sponsored By |