In October 2018, the IFoA hosted a webinar on the UN’s Sustainable Development Goals (SDGs). The webinar was chaired by Marjorie Ngwenya, immediate past president of the IFoA, and included a presentation from Bigknown Shiriyapenga and Ronald Mukanya.
Topics covered in the webinar included:
- An introduction to the UN’s SDGs
- IFoA’s SDG campaign
- The role for actuaries in achieving the SDGS
- Suggestions for how the contribution for actuaries can be maximised
Some important case studies showcased how actuarial work can help achieve the SDGs:
The Environmental Risk Solutions in China case study: China’s rapid industrialisation and urbanisation has resulted in widespread man-made water pollution. It has caused damage to wildlife and nature, crop failure and health consequences for those who do not have access to safe drinking water. Mr Xiaoxuan (Sherwin) Li, FIA, and his actuarial team used actuarial and catastrophe modelling methodologies to evaluate and place a cost on environmental risk. This cost is to be recouped from the entities causing the pollution via an insurance premium.
Road Safety in India case study: The UN’s SDGs include a target to halve the number of road accident-related deaths and injuries by 2020. This target is particularly relevant in India where road safety presents a significant problem. In 2013, the World Health Organisation (WHO) estimated the number of fatalities which resulted from road accidents to be 238,562. WHO also estimates that India loses 3% of its GDP annually due to road accidents.To address this, actuarial expertise can support the development and application of innovative motor insurance produces which incentivise and encourage good driving behaviour in India and other developing nations.
You can download our webinar presentation or watch our video to hear more about these topics.