You are here

Four actuaries from South-East Asia tell their story

Four actuaries in South-East Asia tell us what inspired them to take on this challenging career and what they enjoy about being an actuary.

Chris Lim Shen: Senior Analyst, Singapore

Works for: JLT Re

Chris Lim ShenWhy did you decide to become an actuary?

Analytics is becoming increasingly central to the insurance business and insightful analytics advice often forms a cornerstone of successful insurance placement. My first role at JLT Re was a catastrophe analyst, modelling natural catastrophe exposures. I had to understand natural hazard risks, modelling techniques and model sensitivities, as well as insurance market practices. As during my role, I had a keen interest to gain further exposure in risk quantification and be more involved in the business aspects of insurance so becoming an actuary became a natural progression for me.

What do you enjoy in your role?

I work in a small team in a reinsurance broker and the scope of work can be very diverse. Given the backdrop of maturity in the data science field, the increasing sophistication of the insurance industry in Asia, and the shifting insurance regulatory regimes in the region, it is clearly an exciting time to be an actuary. I enjoy making sense of numbers, applying novel ways of solving problems, and the client-facing element as that requires me to put forward analytical advice and recommendations.

What advice would you give to students who are just about to embark on their career as an actuary?

The William Bruce Cameron quote, 'not everything that counts can be counted…” is especially true for actuaries. Actuaries spend a lot of time exploring data, crunching numbers and performing analyses. However, we function best when these are coupled with a broad (qualitative) understanding of their companies, clients and industries. The ability to deliver insightful and well-structured analyses is more important than ever in a world where we have so much data.

E-Lynn Tan: Assistant Manager, Financial Risk Management and Risk Assurance Services, Malaysia

Works for: PricewaterhouseCoopers 

E-Lynn TanWhy did you decide to become an actuary?

I've always had a passion for numbers and the stories that a simple set of figures might be able to tell. Being an actuary gives me an opportunity to have a clearer understanding of different industries and how the various elements within it are interrelated.

What do you enjoy in your role?

In this role, there has never been a dull day as there are various projects that I have been placed on. From these experiences, I have been able to learn a variety of new skills as well as further develop knowledge I already have. Besides that, being able to meet different people, be it clients or even colleagues, is another perk of this job.

What advice would you give to students who are just about to embark on their career as an actuary?

Always stay passionate in this journey you are about to embark on. It will be trying at times and require a lot of hard work, but with passion you will achieve your goal.

Albertus Teddy Setiadi: Director, Business Development Actuary, Singapore

Works for: Reinsurance Group of America (RGA)

Albertus Teddy SetiadiWhy did you decide to become an actuary?

My high school teacher, whose wife works as a manager of operations in a life insurance company, introduced me to the profession.

It promised decent pay and an ability to play a central role in managing the insurance industry by combining mathematical / statistical skills with business acumen.

As a young high school graduate who loves mathematics, the idea intrigued me and led me to pursue an actuarial course at university.

What do you enjoy in your role?

I enjoy getting exposure to strategic overviews in running both reinsurance and insurance business. This comes from various sales meetings with both senior internal and external stakeholders. It gives me insight on dynamic challenges in managing and running a successful company. Something I hope will be a handy skill one day in running my very own business.

I personally enjoy developing a positive working relationship with my clients. It gives me positive motivation when I am able to solve their problems and as a result, become their "first-to-go-to" contact. This makes my work feel more meaningful.

I also enjoy the opportunity to apply my technical actuarial skills to creatively deliver innovative solutions for my clients whilst ensuring robust risk management practice. I feel a sense of personal pride when I see this solution being applied and delivering meaningful value to the client, distribution channel and policyholders. Of course, in doing so, I enjoy being supported and working alongside my helpful colleagues from actuarial pricing, product development and underwriting departments.

What advice do you give to students who are just about to embark on their career as an actuary?

Keep your eyes on the end reward and use that as a drive to complete the exams. Personally, the reward that my high school teacher mentioned came true with a lot of other upsides as well, such as a sense of personal pride and satisfaction. I could only wonder what other exciting opportunities the career might bring given the role of ‘the actuary’ is likely to expand.

Charlotte Man Yin Shan: Senior Executive, Actuarial Pricing, Singapore

Works for: Prudential Assurance Company Singapore

Why did you decide to become an actuary?

During high school, my ambition was to become a doctor or a pharmacist. It was a popular choice among my fellow classmates. When I was studying A Levels in college, I came across this term – Actuarial Science - it was something new. All that we knew about this course was that it involves risk calculation, statistical analytics and probability simulation. I thought it was quite cool and challenging, so I did more research and then I became really interested. So, I embarked on my study of actuarial science at Heriot-Watt University, Scotland. In May 2015, I graduated with a first class honours degree and with eight full exemptions from the IFoA’s exams.

What do you enjoy in your role?

I started my career as a fresh graduate in the Prudential Assurance Company Singapore. My main portfolio is group business pricing and I have dealt with all kinds of tailor-made group business quotations. Most of the time, we have to ensure the competitiveness of our pricing, while making sure that it passes the financial requirement set by the Company and also Regulators. What I enjoy most in my role is that I can interact with different stakeholders and learn what part each role plays. As an actuarial graduate, I felt accomplished that we could use our strong numerical sense and fundamental analytical skills to add value to the whole organisation.

What advice would you give to students who are just about to embark on their career as an actuary?

Data science is emerging and the importance of the actuary will also continue to grow in this era as while the robot helps you to do the ground work you will still need expert judgement. So, if you think actuarial science is something for you, do it and don’t be afraid! Last but not least, one cannot deny the fact that an actuary can have both a personally rewarding and a well-paid career!

Filter or search events

Start date
E.g., 11/07/2020
End date
E.g., 11/07/2020

Events calendar

  • Spaces available

    This webinar is intended to raise awareness of the shifting landscape of climate liability risk and what it means for actuaries, including how it impacts on their professional and legal duties. Presentations will cover the legal risks around climate change for investment consultants and actuaries advising DB pension schemes as well as consideration of climate risk for insurers.

  • Spaces available

    Climate change risks are likely to become material for many risk management and investment decisions. This will require to incorporate explicitly climate change in the tools used for risk management and investment decisions. At present existing climate change tools are often too crude for decision making.

  • Current Issues in Life Assurance (CILA) Webinar series

    Webinar Series
    15 July 2020 - 3 August 2020

    Spaces available

    CILA is one of the pre-eminent events in the annual 'Life' calendar. Due to COVID-19 we are running the programme as a series of webinars covering topics aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries and those who work in or advise on, the life assurance market in the UK and Europe.

  • Spaces available

    Current Issues in Life Assurance

    For annuity writers, a key challenge is the need to fund capital-consumptive new business strain (NBS) as a consequence of writing the business intended to fund future distributions.

    Reinsurance, investment strategy and capital provision all have roles to play. Here, we:

  • Spaces available

    Current Issues in Life Assurance

    Mortality in 2020 is now dominated by one thing, although – in our future-focused world – the pandemic is just one of many mortality considerations.  In this session, three well-regarded mortality/longevity specialists provide an overview of:

  • Spaces available

    Because of Covid-19, forecasters predict a severe recession in 2020, followed by a V or U-shaped recovery. This impacts both individuals and companies. However, compared to previous recessions, the impact on banks of higher credit losses should be mitigated to some extent by government actions. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    This session will provide an overview of the Population Health Management Working Party's research including defining impactability and impactability modelling, discussing some examples of specific modelling approaches, considering the practical challenges across the NHS as well as wider public perception and ethical issues.

  • Spaces available

    Many actuaries consider career opportunities in the Finance and Investment practice area after having started off in more traditional actuarial roles such as valuations, capital management or pricing. This session is aimed at helping actuaries to better understand roles in Finance and Investment and how they can fine tune their skills to pursue such careers.

  • Mortality and Longevity Webinar Series 2020

    Webinar Series
    22 July 2020 - 10 August 2020

    Spaces available

    Due to COVID-19, we are running this programme via a series of webinars commencing 22nd July.

    This webinar series will provide topical and practical updates and discussion on the latest thinking and innovations in mortality and longevity, and is designed to be very accessible to a broad range of experience.

     

  • Spaces available

    Predictive risk assessment and risk stratification models based on postcode-level consumer classification are widely used for life insurance underwriting. However, these are socio-economic models not directly related to health information. Similar to precision medicine, precision life insurance should aim to tailor policy pricing/reserving to the individual health characteristics of each client.

  • Spaces available

    As insurers look towards their internal model calibration process for 2020 final year financials and statutory returns, actuaries need to deal with the complexity of adequately modelling their business in 2020 and beyond. This discussion will look at what poor model selection and calibration could look like – using inappropriate historical data; using incorrect 2020 mortality data; inappropriate stochastic model recalibration (or lack thereof). What about being prudent vs setting a best estimate? How do you allow for tail risks during a tail risk event?  This is the fourth webinar in the Extreme Mortality Events series presented by Chair of the Life Board of the Institute and Faculty of Actuaries, Colin Dutkiewicz. 

  • Spaces available

    This webinar has been re-scheduled from its original date of the 1st July. Although ESG has many buyers across the asset allocation community, from pension funds to sovereign wealth funds, it still hasn’t found its place within the core asset management strategy desks where the money is actually invested. The problem as well as the opportunity is Fixed Income. Plenty of strategies exist for incorporating ESG within Equities, from screening, integration to a combination. ESG has picked up relatively quickly within Equities with rating,indices created using ESG factors. This talk will discuss how we price a quantifiable ESG credit risk premium and make it alpha worthy in a strategy. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    With the rising prevalence of dementia, how can we manage this risk effectively and can insurance do more? Matt Singleton, Ageing Lead at Swiss Re, will cover these topics and demonstrate how insurance could help people address their concerns.

  • Spaces available

    Current Issues in Life Assurance

    This talk will look at a range of such techniques (e.g. mass lapse risk transfer, contract boundaries, risk margin relief, non-standard longevity risk transfer) that have been applied or considered by UK and EU insurers, and the pros and cons of each.

     

  • Spaces available

    Current Issues in Life Assurance.

    The International Association of Insurance Supervisors announced on 14 November 2019 the adoption of v2.0 of the global Insurance Capital Standard (ICS) which will undergo confidential reporting for 5 years starting from 2020. This session will include specific experiences from Legal and General (L&G) as well as global industry perspectives from EY.

  • Spaces available

    Current Issues in Life Assurance

    This session will cover the PRA supervisory statement on financial impacts related to climate change, industry insights into PRA climate risk business plans, examples climate risk strategy setting out key workstreams and activity steps for successful execution, an overview of a climate risk strategy execution timeline and the future.     

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. Using new and unique research and data from the UK, US, Sweden and China, this presentation investigates how consumers use the internet through their insurance journey and analyzes the role culture and generation plays in their online behaviour. We use this research to show the online landscape for insurance sales in the UK and suggest ways to shape new products and effectively engage with the consumer who is buying them.

  • Spaces available

    Chief Medical Officer (CMO) for Gen Re Life/Health Research and Development, Dr John O'Brien, will discuss the impacts of Gene Modification for life/health insurance. 

  • Spaces available

    As an industry, it has been important to be able to look to the future to identify the next quantifiable risk. In this session, I will explore some of the less tangible, but none-the-less concerning risks to future health, such as the health risks associated with exposure to pesticides, ingestion of plastic in the food chain, and the hazards of indoor air pollution through exposure to volatile organic compounds.

  • Spaces available

    The working party will help the industry to update and enhance how potential risk from diabetes and excess mortality is considered, including the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. 

    The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC.