Timetable - Asian Actuarial Conference (AAC) Singapore 2019

Monday 21 Oct
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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.
	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.
	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.
	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.
	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.
	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.
	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.
	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

Plenary

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

Plenary

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.

	Dr. Frank Ashe, Non-executive Director Actuaries and AI

	Colin Priest, Vice President, DataRobot, Singapore Defining an Insurer’s AI Ethics Policy Guidelines

	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

Plenary

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?
	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

Plenary

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

3.45pm – 4.15pm

Tea Break

10.45am – 11.15am

Tea Break

4.00pm – 4.30pm

Tea Break

10.30am – 11.00am

Tea Break

Lunch

12.30pm – 2.00pm

Lunch

Sponsored By

Lunch

1.00pm – 2.30pm

Lunch

Sponsored By

Lunch

1.00pm – 2.30pm

Lunch

Sponsored By