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Update from the GI Asia International Working Party

Cyber risk:

  • The WP has been actively involved in sharing the findings of the above at the joint session with the emerging risk working group for the IFoA’s 2019 conference held in Chengdu on 9th May 2019.
  • We are also actively working with the Singapore Actuarial Society’s emerging risk working group in raising awareness of silent cyber by conducting half a day seminar to be confirmed as well as presenting similar theme at the GI Conference in Singapore.
  • The WP also would contribute content in the forms of news bites for IFoA newsletter on cyber latest issues including clauses in both insurance and reinsurance contracts, claims and any coverage gap/overlaps across many insurance products.
  • The WP has submitted for a speaking slot for Asian Actuarial Conference to be held in Singapore in October focusing on cyber risk, but will also consider including a section on moral hazard in automation and whether it can lead to discrimination.
  • The WP will also consider participating in any actuarial seminar across the region where we our members can contribute.

IFRS17 WP

  • The WP will be joining the IFRS17 Working Party’s to collaborate on similar topics for Asian markets of which the IFRS17 WP already has one member from WTW in Singapore.

India Agriculture

  • A paper on current actuarial rate of agriculture insurance will also be drafted with a view of raising awareness of the rate adequacy issues for the market.

Recruitment

  • The WP have accepted a number of applicants to join the WP from various markets and they are as follows:
  • Adam George, Singapore
  • Yuan Tian, Singapore
  • Cynthia Yuan, China
  • Rohan Jain, Hong Kong
  • Ranjeeta Bansal, Hong Kong
  • Charchit Agrawal, Malaysia
  • Saunak Dutta, India
  • Shivam Jain, India