Keynote and Plenary Sessions
Keynote Day 1 – Thriving though shared value
This session will tell the story of two young actuaries, entrepreneurs, who saw a problem and wanted to solve that problem. They wanted to solve it because it needed solving, because it would give them freedom to pursue interesting careers and run their own business and, frankly, because it would help change their country.
The story will tell why they did it, how they did it, the challenges overcome and how, over 25 years, it has produced a unique business model that has successfully expanded into adjacent industries and across the globe. It’s based on the concept of shared value and behavioral economics and demonstrates how sticking to a values based core purpose can drive success.
Keynote Day 2 – Longevity in the 21st century: when medicine truly trumps extrapolation
Aubrey De Grey
Forecasts of life expectancy have historically underestimated its rate of increase, partly because the factors that influence rising longevity change over time, with new drivers arising as older ones reach diminishing returns. In the next few decades, it is likely that medical advances will have an impact on old-age health, and thus longevity, that far exceeds what has been seen thus far. I will discuss these prospective advances in general terms and explain why their effects will be so enormous. I will also explain why this is a development on which actuaries must focus at once, rather than awaiting its arrival, so that those industries whose effectiveness relies on good longevity forecasts can not ony anticipate, but also anticipate their clients’ anticipation of, the end of aging as we know it.
Plenary 1 – Australia and the Global Economy
Market volatility has lifted; the US Federal Reserve has indicated an intention to continue raising rates; China is warning of strong measures to slow leverage; and Europe appears to be losing some momentum. Australia’s growth is stuck below potential; inflation and wages are benign; and fiscal policy is consolidating. Housing is slowing; and the consumer remains uncertain.
How will all these different forces interact and evolve over the course of the next year?
Plenary 2 - Uncovering Fin Tech – Is there a Bite with the Bark?
Erik Heller, Stuart Stoyan, Professor Rod Maddock
Plenary 3 – Technology Trends – What’s Certain, What’s Less Certain and What’s the Alpha Trend?
Plenary 4 – Social Risks and Social Capital – Tales from the World’s First Social Risk Officer Ian Laughlin, Haydn Bernau
Financial institutions have been regularly subjected to public opprobrium – in the press, in politics, on social media – for attitudes and behaviour which the community finds unacceptable. This may be partly because institutions have not managed the risks that come from changing social attitudes and norms, and the power of new social capabilities. Such risks need a fresh approach.
One emerging area of practice has something to offer - social capital management. It identifies, measures and manages the drivers of the relational tension between an institution and its stakeholders (eg the public, customers, staff, media, Government), such as power imbalances and misalignment of objectives and values. Social capital—the total value of a company’s relationships—forms a large portion of an institution’s 'true' balance sheet and value, yet very little science and rigour has been applied to its management to date.
Plenary 5 – APRA’s Data Analytics Evolution – From Information to Insights
Helen Rowell, Katrina Ellis
Increased volumes of data and computing power are driving rapid advancements in the use, impact and flow of data across industries. Like many organisations, APRA is undergoing a data transformation. We will describe what APRA is doing and how APRA is transforming its use of data and analytics to shape the way it supervises. Into the future, how will actuaries’ use of data and analytics continue to evolve and shape the insights you provide?
Plenary 7 – Royal Commission
Anthony Asher, Paul Howes, Michael Vrisakis
Plenary 6 – ASIC Regulatory Update – Expectations in the Current Environment