Kuala lumpur s joint Regional Seminar 2017

Transcription

1 Kuala lumpur s joint Regional Seminar 2017 Divergent The Devil is in the Details Venue: DoubleTree by Hilton Kuala Lumpur Organized by: Co-sponsored with:

2 OBJECTIVE Welcome to the Joint Regional Seminar 2017 The Joint Regional Seminar (JRS) is an annual event co-organized by the Institute & Faculty of Actuaries, Actuaries Institute Australia and Society of Actuaries with the support of the local actuarial societies in the region and designed to assist actuaries and other professionals in meeting CPD requirements. THE SEMINAR The JRS 2016 attracted a turnout of 740 participants in total. Thank you to all for your support! We are keen to put on another great seminar this year and it is with pleasure that we invite you to join us in the JRS in one of the following locations: Mon - Tue 31 Jul - 1 Aug Taipei (1.5 days) Wed 2 Aug Hong Kong Fri 4 Aug Bangkok Mon - Tue 7-8 Aug Kuala Lumpur (1.5 days) Given that actuaries like details and last year s seminar feedback called for more detailed and advanced applications, the Committee decided to build on last year s theme (Back to the Basics - Evolving Technical Matters) and to provide attendees a glimpse of the different approaches that could exist in the detailed application of various regimes and bases that Actuaries in the region are currently exposed to or will be facing in the future. Hence the theme of this year s seminar is Divergent The Devil is in the Details. The programme will feature the more traditional actuarial topics such as IFRS17, Asian market and product development, as well as sharing of advanced development such as new investment ideas, insurance analytics, etc. In line with this year s theme, speakers will focus on the detailed application where practice can diverge between countries/companies despite the approach being similar on the surface. This JRS will bring our audience to focus on understanding the core actuarial technical applications required to adapt to the new and changing landscapes, regulations, technology. We are confident that this will be a seminar that all levels of actuaries could benefit from. CPD The Joint Regional Seminar qualifies for (Actuaries Institute Australia / IFoA / SOA / ASM) Continuing Professional Development (CPD). Actuarial members may find it a useful contribution to their personal professional development. A maximum of 8.4 CPD hours* can be claimed from the Kuala Lumpur JRS. The amount of hours recorded is left to the discretion of the individual. * 1 CPD hour = 60 minutes

3 Dustin Ball Partner, APAC Insurance Transactions Leader, EY Dustin Ball is a partner and the EY Asia-Pacific Insurance Transactions Leader for Transaction Advisory Services bringing a full range of services to insurance clients of EY firms in Asia. He brings years of experience in strategy development, M&A, market entry, distribution channel transformation, partnerships, joint ventures and portfolio optimization. Based in Hong Kong, Dustin has been living and working in Asia since Prior to joining EY, Dustin was the CEO of BIDV MetLife, a joint venture between MetLife and BIDV in Vietnam. He led the formation of the joint venture, licensing and start-up of the company, and then served as CEO until Before working at BIDV MetLife, Dustin was the Asia-Pacific head of strategic development for several leading multinational insurers, where he was responsible for overseeing mergers and acquisitions in Asia, as well as developing new market-entry strategies. Dustin holds a Bachelor of Science in Chemical Engineering from the New Jersey Institute of Technology and an MBA in Finance and International Business from New York University s Leonard N. Stern School of Business. Dion Heijnen, AAG Senior Consultant, Willis Towers Watson Dion has more than 12 years working experience in the insurance industry. He has expertise in the following areas: Embedded value reviews in Europe and Asia, including MCEV, EEV and TEV, Merger and acquisition / Initial public offering. Supported on M&As and IPOs with due diligence and valuation in Europe and Asia, including: Due diligence of an insurer in the Philippines and South Korea, and Valuation support for an insurer in Malaysia and Taiwan. Solvency II (mainly Pillar 1) & internal economic capital reviews, Asset-liability management, including implementation of an asset-liability management model for a Hong Kong-based insurer and Appointed actuary reviews in Europe. Dion is a Senior Consultant in the Life insurance practice of Risk Consulting & Software in Hong Kong. He has been seconded to Hong Kong from the Netherlands since March Dion holds an MSc in Econometrics from the VU Amsterdam (2004), an MSc in Financial and Actuarial Engineering (2005) and an MSc in Insurance (2006) from the Katholieke Universiteit Leuven. He has been awarded the Charter Financial Analyst Charterholder (2014). And he is also a member of the Dutch Society of Actuaries ("Actuarieel Genootschap"). Ken Liang, ASA Assistant Director, Moody s Analytics Ken Liang is an assistant director at Moody s Analytics based in Hong Kong, responsible for the insurance segment in the Asia-Pacific region. In his current role, he provides insightful advice and solutions to clients on areas including risk management, quantitative methodologies, economic scenario simulation, market risk and economic capital modeling. Prior to his current role, Ken led stochastic model team of AXA Hong Kong and has served in actuarial area of life insurance for more than 15 years. He is an Associate of Society of Actuaries and Chartered Enterprise Risk Analyst. He holds BSc degree in applied mathematics from Sun Yat-Sen University.

4 James Lin Senior Manager, EY James is a Senior Manager in EY's Asia-Pacific Insurance Advisory Services Group. He has led multiple projects in strategy development, business analytics, investment analytics, risk and capital management with banks and insurance companies in Australia and Asia. David Lu Deputy Regional Chief Medical Officer, Vice President, Life & Health Products, Swiss Re David Lu joined Swiss Re in January 2013 as the Deputy Regional Chief Medical Officer of Asia. He is responsible to assist the Chief Medical Officer in supporting our clients to solve all medical risk challenges related to underwriting, claims and product designs cross Asia, with focus on Greater China region. Prior to joining Swiss Re, David was the head of medical underwriting and medical consultant for Bupa in Hong Kong. David is the member of AAIM (American Academy of Insurance Medicine), and ALUCA (The Australasian Life Underwriting and Claims Association). David is an orthopedic surgeon, received his Bachelor degree at Beijing Medical University, PhD degree at Hokkaido University in Japan. He has written extensively on his research areas and was the Best Paper winner in 2001 SICOT in Paris, and 2009 SPINE Young Investigator Research Award winner. Paul Manson Director, Moody s Analytics Paul Manson is a Director, ERS Insurance at Moody's Analytics. He joined Barrie and Hibbert (acquired by Moody's Analytics in 2011) in He has participated in many projects relating to life insurance solutions, specialising proxy modelling. Paul has work with a number of insurers to implement proxy model solutions for their internal capital models and to support the Own Risk and Solvency Assessment (ORSA). Since 2015, Paul has been located in Tokyo, responsible for advisory and business development, including implementation of ESG, proxy modelling, and stochastic investment planning solutions. Paul holds a Bachelor degree in Computer Science from University of Aberdeen and is also a CFA Charterholder. Craig Turnbull, FIA Standard Life Investments Craig Turnbull joined Standard Life Investments in March 2015 after a fifteen-year career at Barrie & Hibbert. At B&H, he was Head of Research and Advisory, overseeing industry-leading work in insurance asset -liability modelling, economic capital, Solvency II and the hedging of insurance liabilities. At SLI, Craig leads the Insurance Solutions team, which works closely with Standard Life Investment s global insurance client group to support their insurance asset management requirements. Craig qualified as a Fellow of the Institute and Faculty of Actuaries in In 2013, he was awarded the Institute of Actuaries Peter Clark Prize for best actuarial research paper. He is the author of the recently-published book, A History of British Actuarial Thought.

5 Farzana Ismail Milliman Advisors Sdn Bhd Farzana Ismail heads the Life Insurance and Family Takaful Consulting practice in Kuala Lumpur, Malaysia. Farzana has fifteen years experience in the life insurance and family takaful industry. She was previously a Partner in Actuarial Partners Consulting in Malaysia. Prior to this, she was a senior consulting actuary in Milliman London. Farzana has worked on client assignments in Europe, US, Middle East and Asia Pacific. Farzana has significant experience in par business management both in the UK and Malaysia. She worked on the management of participating par business for a mutual in the UK for nearly a decade, including developing the Principles and Practices of Financial Management for the par fund and a stochastic assetliability management model with dynamic management action, which was subsequently used for Solvency II reporting purposes. She was also involved in a large number of Part VII transfers of par business in the UK which requires an independent assessment on the fairness of the scheme and its potential impact to the level of security and expected benefits payouts to the par policyholders. In Malaysia she has been involved in the review of the Management of Par Business policy for many multinationals in light of the new par regulations. Hassan Scott Odierno Actuarial Partners Consulting Hassan Scott Odierno is an American who has been a partner with Actuarial Partners Consulting in Malaysia and involved in insurance consulting and Risk Based Capital (RBC) since He was part of industry discussions with the Monetary Authority of Singapore to develop RBC there. He was also an industry representative to Bank Negara Malaysia in developing RBC regulations. His role as appointed actuary to insurers in countries such as Malaysia, Sri Lanka, Kenya, Brunei and Mauritius has allowed him to understand the challenges of taking RBC regulations from the developed world. He is a co-author of the World Bank book Takaful and Mutual Insurance, co-author of the book Essential Guide to Takaful and a contributing author to the books Actuaries in Microinsurance and Health Insurance in Asia. He is also the external advisor to two universities in Malaysia to their risk management and actuarial science programs. Hassan is a Fellow of the Society of Actuaries, and has a Bachelor of Science degree with high distinction in Mathematics from Worcester Polytechnic Institute in the USA.

6 Nicholas Yeo Chee Lek FIA FASM FSA FSAS Nicholas Actuarial Solutions Nicholas is the Founder & Actuary of Nicholas Actuarial Solutions, a technology focused actuarial firm, with propositions in artificial intelligence, insurtech and analytics. In June 2017, Nicholas Actuarial Solutions has received official recognition from the Government of Malaysia for its pioneering activities in these fields and its overall contribution towards the development of Malaysia's digital economy. Nicholas qualified as a Fellow of the Institute and Faculty of Actuaries in He is also a Fellow of the Actuarial Society of Malaysia, Fellow of the Society of Actuaries and Fellow of the Singapore Actuarial Society. He is a council member of the SOA's entrepreneurial and innovation section. George Kau FSA FASM Takaful Ikhlas Berhad He is a fellow of the Society of Actuaries, USA (FSA) and fellow of the Actuarial Society of Malaysia. Beside his participation in the Greater Asia Committee that coordinates Society of Actuaries activities and advises on strategy in the Greater Asia region, he is also an external assessor panel for Actuarial Science and Risk Management Programme for Snway University, Universiti Sains Islam Malaysia (USIM) and National University of Malaysia (UKM). George joined Takaful Ikhlas Berhad since 2014 as the Senior Vice President / Head of Actuarial Services. His main responsibility is to certify the valuation of actuarial and other certificate liabilities in accordance with the generally accepted actuarial principles and practices. He leads the Actuarial functions and advise the Company on solvency matters.

7 Theme: Divergent The Devil is in the Details 7 Aug 2017 (Day 1) Registration Welcome Remarks Actuarial Society of Malaysia Representative Insurance Investment: Global Trends - Local Solutions Divergent Investment Trends across Asian Insurance Markets Craig Turnbull, Standard Life Investments Morning Coffee Break Seeing the Future? How Genetic Testing will Impact Life Insurance Dr. David Lu, Swiss Reinsurance Undiscovered Opportunities - Advanced Analytics for Insurance Distribution Lunch James Lin and Dustin Ball, EY Asset Liability Management Best Practice in Insurance Paul Manson and Ken Liang, Moody s Analytics Participating business and its management in Asia - A divergent trend? Farzana Ismail, Milliman Advisors Sdn Bhd Afternoon Coffee Break Takaful 2.0: Continuing convergence or divergence as a strategic option Hassan Scott Odierno, Actuarial Partners Consulting An Actuarial Journey in Insurtech Nicholas Yeo Chee Lek FIA FASM FSA FSAS, Nicholas Actuarial Solutions

8 Theme: Divergent The Devil is in the Details 8 Aug 2017 (Day 2) Registration classic pricing pitfalls of group insurance and how to avoid them George Kau, Takaful Ikhlas Berhad Practical Application of the New International Financial Reporting Standard for Insurance Contracts Dion Heijnen, Willis Towers Watson Morning Coffee Break IFRS 17 Panel Chair: Dion Heijnen, Willis Towers Watson Panelists: To be announced Closing Remarks Actuarial Society of Malaysia Representative 1210 Lunch End of seminar

9 Sign up online at: Registration begins on 11 July 2017 Deadline for registration: 26 July 2017 RM 600 per person for early bird (before 18 July 2017) RM 700 per person thereafter Cancellation Policy Cancellations should be made by contacting and also confirmed in writing. No refunds will be made for cancellations after 26 July The Society reserves the right to cancel the seminar if conditions warrant. Date : 7 8 August 2017 Venue : DoubleTree by Hilton Kuala Lumpur The Intermark, 348 Jalan Tun Razak, Kuala Lumpur, Malaysia Organized by: Institute and Faculty of Actuaries Actuaries Institute Australia Society of Actuaries Co-Sponsored with: Actuarial Society of Malaysia