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., 17/06/2022
End date
E.g., 17/06/2022

Events calendar

  • Spaces available

    At retirement, it has become very popular for those with Defined Contribution (DC) pensions to choose drawdown rather than an annuity, but drawing a sustainable lifetime income in this way is an impossible challenge for most people. We consider a Decumulation Pathway for the typical consumer, where a small part of the DC fund is set aside for any flexible access and legacy requirements. The bulk is then used to provide a lifetime income, utilising the pooling or insuring of longevity risk.

  • CILA 2022

    23 May 2022 - 24 May 2022

    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.

  • Spaces available

    In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.

    The Business of the AGM

  • The IFoA Conference 2022

    133 Liverpool St, London EC3A 7BX and Online
    22 June 2022 - 23 June 2022
    Spaces available

    We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.