23 October 2020
The Institute and Faculty of Actuaries (IFoA) is delighted to announce that its prestigious Quality Assurance Scheme (QAS) accreditation has been awarded to AIA Malaysia.
QAS accreditation is designed to provide a level of assurance with regard to an organisation’s commitment to high quality actuarial work.
It has been awarded to AIA Malaysia, a life insurance company and part of AIA’s pan-Asian life insurance group, in recognition of its policies, procedures and practices, which support its staff in the development of a working environment that celebrates the importance of both technical competence and softer skills within its actuarial team.
QAS was first launched in the UK in September 2015 and close to a quarter of UK-based actuaries now work for a QAS accredited organisation. Following a successful pilot in 2017 in Hong Kong, Malaysia and Singapore, the accreditation is now available globally.
Ching Ing Chian, AIA’s Chief Actuary and Lead SQAR, said: “We are very pleased that AIA Malaysia has received the prestigious QAS accreditation from the Institute & Faculty of Actuaries. It is a testament to the fact that we have a professional working environment that is optimised for actuaries to implement best practice.
“The QAS accreditation provides additional confidence to our stakeholders amid the ever-increasing expectations on quality and timeliness of actuarial services.”
Tan Suee Chieh, President of the Institute and Faculty of Actuaries (IFoA), said: “We’re pleased to welcome AIA Malaysia to the IFoA Quality Assurance Scheme and to recognise its commitment to the delivery of high quality actuarial work.
“Membership of the scheme means that an organisation has gone through rigorous, independent assessment in relation to our five key standards of quality assurance (including work review), conflicts of interest, development and training of actuarial staff, speaking up about matters that cause concern, and relationships with service users.
“Membership of our scheme means that AIA Malaysia has met these professional standards, especially in relation to its working environment, which is of such critical importance to both its clients and its employees. We are also delighted that they are eligible to take part in the QAS Continuing Professional Development (CPD) Scheme, our new outcomes-focused CPD scheme.”