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

To find out more, contact the Communities Manager for Life.

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

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Events calendar

  • Autumn Lecture 2020: Professor Elroy Dimson

    Online webinar
    14 October 2020

    Spaces available

    Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.

  • GIRO Conference 2020 Webinar Series

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.

  • Life Conference 2020 Webinar Series

    Online
    16 November 2020 - 27 November 2020

    Spaces available

    This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.

  • Spaces available

    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

  • Spaces available

    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.