The Life Asia Sub-committee ensures a strong research output in the life practice area through member-led research

The Life Asia Sub-committee is the first regional Sub-committee of the IFoA formed outside the UK, with the specific purpose of supporting Life actuaries in the APAC region (particularly regarding their career growth), deliberating issues in the region as well as promoting and raising awareness of the profession in the region as a whole. This will provide strong foundation for similar forums for other regions outside the UK, and for other actuarial disciplines.

Purpose

  • Review existing CPD available to the actuarial community in Asia, and propose suitable IFoA CPD, including local provision and online content.
  • Respond on behalf of the Life Board and the IFoA to life assurance focused consultations which are Pan-Asian.
  • Collate existing research materials relating to the relevant fields of insurance risks of the Asian market, and identify gaps for new research ideas.
  • Develop links with IFoA Regional Societies in Asian locations, and use these to promote local CPD and research.
  • Present relevant research findings at relevant IFoA and non-IFoA conferences, such as the IFoA Asia Conference or other suitable regional actuarial events.

Research survey to identify consumer protection needs in Asia, and the extent to which these are being met in the Asian market

Working with its members, the IFoA has commissioned a piece of research that will identify consumer protection needs, and explore the extent to which these are being met in the Asian market.  The Life Insurance markets in Asia are diverse with different levels of private and Government-backed coverage. We are taking a deeper look into selected Asian markets to compare and contrast the level of development and customer needs. A key focus will be on what customer needs exist and how these are being met with the current insurance offering in each market.  Further to this, the research will consider the experience where customer outcomes have been unsatisfactory and how this has shaped the development of the markets.

It is expected that the outputs of this research will provide the IFoA and its members with an independent (non-commercial) and focussed set of data points to enable a better understanding life insurance customer’s risk appetite, challenges, expectations, experiences, knowledge and requirements, by social demographic class.  The research outputs should provide timely and relevant population sample data to enable conclusions and make recommendations regarding the topic, fit for today’s forward looking environment. 
 

Membership: 2020/2021

  • Chantal Bond (Chair) -Singapore
  • TBC (Deputy Chair)
  • Bharat Khurana - India
  • Kai Zhu - China
  • Raju Seetharaman – India
  • Leong Soon Tan - Australia
  • Aman Sanganeria - India
  • Ashish Ranjan - India
  • Yuki Ishikawa - Japan
  • Thomas Sutcliffe - Hong Kong
  • Kelvin Kwok - Hong Kong
  • Suhui Wang - Hong Kong

To find out more, contact the IFoA Communities team.

Related documents

Contact Details

If you have any questions about a practice area, its working parties, Member Interest Groups or Board and sub-committees, please contact the Communities Team:

professional.communities@actuaries.org.uk

Filter or search events

Start date
E.g., 04/12/2021
End date
E.g., 04/12/2021

Events calendar

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Fully booked.

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    Actuaries need to take action now - but how?  With a focus on climate change, this session will provide informed insight to enable you to improve your knowledge and understanding of the issues involved, demonstrate how it will impact advice to your clients, and highlight prospective opportunities for actuaries within pensions and wider fields.

  • Spaces available

    A joint webinar from the CMI Mortality Projections and SAPS committees that will cover: recent mortality experience in the SAPS dataset and the general population; the CMI Model benchmarking survey; the MPC 2021 interim update paper; plans for CMI_2021; and initial thoughts on possible "S4" Series pensioner mortality tables.

    The webinar will be presented by Cobus Daneel (Chair of Mortality Projections Committee) and Matthew Fletcher (Chair of SAPS Committee).

  • Spaces available

    Pension scams have become more prevalent as a result of the pandemic, and Trustees have increased responsibilities to protect members, which means that actuaries need to be in a position to provide advice in this area. Our specialist panel will include a professional trustee, an IFA and head administrator, two of whom are members of PASA.

  • Spaces available

    The Covid-19 pandemic creates a challenge for actuaries analysing experience data that includes mortality shocks.  To address this we present a methodology for modelling portfolio mortality data that offers local flexibility in the time dimension.  The approach permits the identification of seasonal variation, mortality shocks, and late-reported deaths.  The methodology also allows actuaries to measure portfolio-specific mortality improvements.  Results are given for a mature annuity portfolio in the UK

  • Spaces available

    In this webinar, the authors of the 2021 Brian Hey prize winning paper present a new deep learning model called the LocalGLMnet. While deep learning models lead to very competitive regression models, often outperforming classical statistical models such as generalized linear models, the disadvantage is that deep learning solutions are difficult to interpret and explain, and variable selection is not easily possible.

  • Spaces available

    The dominant underwriting approach is a mix between rule-based engines and traditional underwriting. Applications are first assessed by automated rule-based engines which typically are capable of processing only simple applications. The remaining applications are reviewed by underwriters or referred to the reinsurers. This research aims to construct predictive machine learning models for complicated applications that cannot be processed by rule-based engines.

  • Spaces available

    With the Pension Schemes Act 2021 requiring a long term strategy from Trustees and sponsors, choosing a pensions endgame strategy has become even more critical. However, it is important that the endgame options available are adequately assessed before choosing one. With an ever-increasing array of creative and innovative options available, this decision may not be straightforward.