tuesday 15 March 2016 |
| 8.00 - 9.00am | Registration |
| 9.00 - 9.15am | Welcome Remarks |
| 9.15 - 10.15am | Session 1 - The Evolving Role of the GI Actuary
Presenter(s): Jeremy Wall, Group Managing Director, JPWALL
The speaker will share his experiences having lived and worked in Asia for over 15 years on the varying role of the general insurance actuary in different markets and times.
The presentation will include a mixture of technical and non-technical discussions. Wall will touch on pricing, reserving, capital modeling, mergers and acquisitions, as well as reinsurance.
At the conclusion of the session, attendees will be able to appreciate the role of the actuary in various markets. |
| 10.15 - 10.45am | Coffee Break
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| 10.45 - 11.45am | Session 2 - A Guide to Motor and Fire Detariffication
Presenter(s): George Kong Hoi Kau, Head of Actuarial Services, Takaful Ikhlas Berhad
This presentation will address the following questions raised by the industry in preparation for the detariffication of fire and motor insurance.
• What is the best way to educate consumers on the different products and features?
• How to manage channel conflicts?
• How to regulate agents without market agreement?
• Will intense competition for business lead to market disorderliness?
• How to ensure market discipline knowing that industry members need not subscribe to any set of rules/regulations drawn up by PIAM/MTA?
• How to ensure availability of credible data for industry’s consumption?
At the conclusion of the session, attendees will be able to understand the significant risk of solvency after the detariffication of motor and fire insurance.
Attendees will be able to develop strategies and communicate the issues to the stakeholders so informed decision can be made.
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11.50 - 12.50pm | Session 3 - Usage Based Insurance: The Future of Motor Insurance in Asia
Presenter(s): Rob Malattia, Director, General Insurance, South East Asia, Willis Towers Watson; Yao Wang, General Manager, General Insurance, China, Willis Towers Watson
Usage-based insurance (UBI) is a promising opportunity for auto insurers that embrace telematics. UBI helps these auto insurers gather and effectively convert relevant data. This allows them to better segment, facilitate customer feedback and improve driving behavior.
This presentation will provide an overview of how UBI insurance has recently developed in markets such as the United States and EU.
Presenters will provide an outlook on the progress of UBI in Asia and will discuss the status of the insurance markets, technology and economies. They will address how this could sustain the proliferation of UBI programs, presenting a case study in an Asian market.
They will discuss some of the challenges and critical success factors in implementing UBI. Then, they will outline the reasons why they believe Asia has great potential for the development of UBI and why Asia could leapfrog the United States and EU in terms of number of UBI programs, in a not too distant future.
At the conclusion of the session, attendees will be able to identify the critical aspect of telematics, evaluate underlying technology and design a UBI solution. |
| 12.50 - 2.05pm | Lunch |
2.05 - 3.05pm
| Session 4 - Cyber Risk Mitigation and Resilience
Presenter(s): David Piesse, CRO, Guardtime
Mandatory regulation leading to fines is a temporary solution to cyber risk. Resilience is a more long-term solution that enables organizations to prevent, resolve and recover from cyber issues in a fast manner while reducing reputational risk.
The blurring of territorial boundaries by the cloud and the threat to data integrity become challenging to maintain and define. This makes it difficult to audit cyber risk. David Piesse will dive a little deeper into the data-centric security standard to show how a “digital chain of command over events” can remove this weak link. Operating data centric standard in conjunction with Blockchain technology is considered as a major change in Information Technology for the future 50 years, David will thus also explain how Blockchain technology can aid in data security and be a major part of the resilience process.
Resilience is an initial focus of raising the cyber standards. It provides better capability in handling events when managing and controlling electronic data in a digital, intangible and cyber environment. Loss of data integrity results in economic loss and deterioration of the organization’s reputation.
At the conclusion of the session, attendees will be able to see the value of creating data-centric security standards and the use of Blockchain technology to the process of the mitigating systemic risk caused by disruptions to the insurance industry.
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| 3.10 - 4.10pm | Session 5 - Man-made risk management
Presenter(s): Kun Cheng, Assistant Vice President, Analytics, PeakRe
The session will start with catastrophe. Moreover, catastrophic events will be the key message that flow through the whole presentation.
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| 4.10 - 4.40pm | Coffee Break
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| 4.40 - 5.40pm | Session 6 - From capital modelling to capital management
Presenter(s): Karsten Wantia, Practice Leader Asia Pacific, Willis Towers Watson
Capital is an important and often scarce resource for any insurer. Karsten Wantia will discuss how to efficiently balance economic demands and regulatory requirements. She will present a capital management toolbox of potential measures companies have to increase the efficiency of their capital use and integrate these aspects into their decision making.
She will also discuss a number of real world examples of how companies around the world, and specifically in Asia, integrate capital management into their steering.
Attendees will be able to understand the drivers for more focus on capital and how changes in the macroeconomic environment, as well as in the reporting and regulatory landscape (Solvency II, SST, RBC2 and IFRS 4 Phase 2) are driving the insurance industry to use capital as efficiently as possible.
They will be able to identify how the three main requirements (enough capital for the strategic needs, decrease in the volatility of the solvency level and efficient use and upstream of capital) shape the organization they work in.
Finally, they will develop an appreciation of the breadth of potential solutions and tools that can help managing capital efficiently. |