After a successful event last year, the Society of Actuaries (SOA) is once again conducting their signature event in Asia, the Virtual SOA Asia-Pacific Annual Symposium. We look forward to providing a comprehensive and engaging program in 2020.
This symposium will provide a learning and networking platform for members and non-members in the Asia-Pacific region to share their experiences in the actuarial profession, the finance and insurance industries, as well as other fields related to actuaries.
Take advantage of our 10 percent discount* for groups of 5 or more. This great discount will be applied to the cost for each registrant beyond four registrations. Please choose the Individual 5+ Rate (1 link, with broadcasting) option when making your registration selection. Broadcast streaming to non-registered individuals is not permitted during this meeting.
*Discount only applies to the Full Meeting member and non-member fees.
Don’t miss the opportunity to connect with colleagues, fellow actuaries and industry leaders. We look forward to your participation in this new and exciting experience.
Talent Performance
We are arranging a Talent Performance session in the evening of 28 Sept 2020. This performance will tentatively include singing, dancing and musical instruments. If you are a registrant of the 2020 Asia-Pacific Virtual Symposium and interested in being considered for this performance, we invite you to submit your intent by sending in a video (under 5mins) of your performance by following below instruction. We will contact you by email if you are selected to perform during this session.
Submission Instructions:
· Deadline: August 31, 2020 at 11:59 pm GMT+8.
· Email a video clip no longer than 5 minutes in length of your performance to apac@soa.org
· Subject line should be: ApacSym Performance <YOUR NAME>
· Please indicate <Your selected Type of Performance> + <Your order number for the Symposium> in your email as well.
· Selection criteria will be based on:
o Stage presence (audience appeal, performance)
o Poise (confidence, composure)
o Talent (music, ability, coordination, etc.)
· The selected performers will receive a souvenir as a small token to thank you for your participation.
Thank you to our 2020 Sponsor(s)
Platinum
Monday, September 28
Virtual Symposium Day 1
Theme 1: Economic Capital & risk management
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9:00–9:25 a.m. Opening Remarks and Introductions Presenters: 2020 Asia-Pacific Annual Symposium Organizing Committee; Lisa S. Kuklinski, FSA, MAAA, SOA Board of Directors; Andrew D. Rallis, FSA, MAAA, SOA President |
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9:25–10:20 a.m. Session 1 – Opportunities for Actuaries in the Time of a Pandemic Moderator: Matthew Jordan Mohr, FSA, MAAA Presenters: Robert T. Eaton, FSA, MAAA The coronavirus pandemic has disrupted the traditional business models of insurers and actuaries. Actuaries responded to the advent of the virus in many ways, personally and professionally. Following-up from the article, Actuaries in the Time of Coronavirus, this session will present examples of models that actuaries and their teams have built to address the challenges of coronavirus. The speaker will also discuss ways that actuaries have worked in cross-disciplinary teams, drawing on expertise from traditional insurance backgrounds, medical backgrounds, and other sciences. |
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10:20–10:35 a.m. Concurrent Sponsor Virtual Booths |
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10:35–11:40 a.m. Session 2 – Regulatory Outlook Moderator: Matthew Jordan Mohr, FSA, MAAA Presenters: Rob Curtis, Thanita Anusonadisai FSA, CERA; Wai Yi Lee |
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11:40 a.m.–12:45 p.m. Moderator: Matthew Jordan Mohr, FSA, MAAA Presenters: Charles Hill, FSA, CERA, FCIA, MAAA, Gavin Maistry, FSA, CERA, Hassan Kamil, FSA; Vincent Chen, FSA |
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12:45–1:00 p.m. Break |
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1:00–2:30 p.m. Concurrent Sponsor Virtual Booths |
Theme 2: Innovation & Predictive Analytics
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2:30–3:05 p.m.. Moderator: Boon Yoon Ho, FSA, CERA, FCIA Presenters: Haibo Liu, FSA, CERA; Pu (Paul) Sheng, FSA This session focuses on how digital footprint & big data can allow for better understanding of human behaviors and latent tendencies that are currently not measurable by the traditional underwriting approach. On this topic, the session will introduce various digital footprint use cases in the current insurance industry, it will also cover the depiction of possible big data enabled risk analytic framework and the potential applications. In the end it will also touch on future development of this approach including how AI can be applied in the advancement of this approach. |
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3:05–3:30 p.m. Session 5 – The Link Between Data Analytics and Customer Centricity in Life Insurance Moderator: Boon Yoon Ho, FSA, CERA, FCIA Presenters: Julian Balasingam This session will focus on the increasing importance of customer centricity in life insurance products and how advanced analytics offer the best opportunity for life insurers to implement a more customer centric approach. It will explore what it means to be customer centric, why it’s becoming more important, how this focus affects life insurance products, and what the industry can expect going forward with regards to how advanced data analytics will impact customer centricity. The session will also touch on the important role actuaries and actuarial teams within life insurer companies can expect to play in this transformation in the years to come. |
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3:30–3:40 p.m. Panel Discussion Q&A of Sessions 4 & 5 |
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3:40–4:00 p.m. Break |
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4:00–4:25 p.m. Moderator: Cheryl Liu, FSA, CERA Presenters: Yannick Even Part 1
Part 2
Part 3
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4:25–4:50 p.m. Session 7 – Next Generation Underwriting Moderator: Cheryl Liu, FSA, CERA Presenters: Ting Dai, FSA, CERA The next generation of underwriting is key in order to better control risk and create a smooth process for the client. The presenter will share their experience on how to leverage AI techniques to build innovative underwriting solutions. This session will also address internal (for the insurance companies) and external (for insured) methodologies implemented in different regions of the world. The modeling life cycle, different modeling approaches (GLM vs ensemble methods) and the use state-of-the art techniques to interpret models will also be discussed. |
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4:50–5:00 p.m. Panel Discussion Q&A of Sessions 6 & 7 |
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5:00–5:30 p.m.. Concurrent Sponsor Virtual Booths |
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Tuesday, September 29
Virtual Symposium Day 2
Theme 3: Product Development & Trends
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9:10–9:35 a.m. Session 9 – Aging in Singapore, Implications for Long-Term Care Financing Moderator: R. Dale Hall, FSA, CERA, MAAA Presenters: Joanne Yoong |
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9:35–10:00 a.m. Session 10 – Asia Pension Reform Journey Moderator: R. Dale Hall, FSA, CERA, MAAA Presenters: Elvin Seet-Yeow Tharm, FSA; Calvin Chiu, FSA This is an follow up to a 2019 presentation where the audience learned about the 5 pillars of the retirement model, which require all stakeholders including the government, employers, retirement service providers and individuals to jointly tackle this important yet complicated issue of retirement readiness. This presentation will provide an update on the retirement systems across Asia. Three case studies covering the pension reform journey from China, Malaysia and HK will be presented. Through the case studies, the audience will learn about the different approaches that different markets have taken, the successes they have accomplished as well as challenges going forward. These experiences present valuable insights for other markets and industry practitioners as they think about setting up their pension systems or enhancing their current ones. |
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10:00–10:25 a.m. Session 11 – CI Product Development: What’s Next? Moderator: R. Dale Hall, FSA, CERA, MAAA Presenters: Kay Ying Shong, FSA, CERA Life and health insurers, as well as reinsurers have developed life and critical illness (CI) plans of different forms, in Southeast Asia in the past decade. Currently, many are also trying to develop the next-gen CI products. This session will address the latest developments in the CI product landscape in Southeast Asia and will outline the risk considerations and mitigation as food for thought for the audience. |
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10:25–10:40 a.m. Panel Discussion Q&A for Sessions 9 – 11 |
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10:40–10:50 a.m. Break |
Theme 4: Finance & IFRS17
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10:50–11:20 a.m. Session 12 – Enhancing the Insurance Investment Planning Process Moderator: Paul Setio Kartono, ASA, CFA, FSAI, MAAA Presenters: Paul Manson; William Halley Traditionally, insurers assume constant volatility during the investment process, and do not assume asset-liability interaction. Given the complexity of life insurance liability, a new approach is deemed necessary. This presentation will introduce and elaborate on the approach that utilizes a stochastic ALM model and big data analytics to assess the impact on portfolio risk/return when changing strategic asset allocation. The new approach assumes stochastic volatility and considers asset-liability interaction. This is particularly relevant to life insurance as investment planning assumes a long investment horizon that matches the term of liability. Big data analytics is utilized so that the management can use visualized results to analyze different aspects of the SAA portfolio, make decisions, and monitor the portfolio as it develops. |
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11:20–11:45 a.m. Session 13 – Strategic Use of Reinsurance? When This Tool is Worth Considering Moderator: Paul Setio Kartono, ASA, CFA, FSAI, MAAA Presenters: Valerie Gilles-Coeur; Kenneth Lo The insurance business is built on shareholders' capital and every now and then, bond issuance. Reinsurance is regarded as a volatility protection tool. Little by little with the new reforms ahead of our industry (IFRS17, ICS, new capital regimes) and the disappointing returns delivered by some of us, we observe investors dis-interest for the industry insurance (esp. in Korea). We propose to consider reinsurance as an additional tool to manage companies' financial soundness. On top of enabling insurers to keep their capital requirement under control, reinsurance also provides volatility protection and may help insurers deliver attractive KPIs to investors. This session will discuss when reinsurance would be a "good deal" versus an increase in shareholders' equity. This will be explained through case studies that explain how reinsurance can be used strategically for Life and Health companies, or for a General Insurer to comply with regulatory capital requirements (RBC), or in order to maximize the company valuation (i.e. attractiveness for investors). We will also explain how actuaries should assess the cost / return of different options to help their company select the best solution for them. |
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11:45–11:55 a.m. Panel Discussion Q&A for Sessions 12 & 13 |
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11:55 a.m.–12:20 p.m. Session 14 – Transitioning to IFRS 17 Moderator: Paul Setio Kartono, ASA, CFA, FSAI, MAAA Presenters: Dennis Chiu, FSA After over 20 years of development, the new insurance accounting regime will replace the current IFRS 4 starting 1 January 2023. The transition date, as defined in IFRS 17, will be one year prior to the effective date, i.e. 1 January 2022. Entities are required to “reset” their balance sheet at the transition date. This will be a one-off exercise that may lead to long-lasting impacts. Having the right starting point for the new accounting regime involves a number of strategic decisions that are constrained by accounting requirements, operational feasibility and financial and business objectives. IFRS 17 includes specific requirements for transition but also includes some optionality which gives entities flexibilities in getting to the right starting point. Understanding what is required and where accounting choices exist would enable management to make well-informed strategic decisions. It is crucial that entities develop a transition plan involving all the stakeholders at an early stage in order to ensure a smooth transition to the new regime. |
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12:20–12:45 p.m. Session 15 – IFRS 17/APAC IFRS 17 Health Check Moderator: Paul Setio Kartono, ASA, CFA, FSAI, MAAA Presenters: Ang Sock Sun Insights from APAC entities’ IFRS 17 programme strategy, progress and challenges |
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12:45–12:55 p.m. Panel Discussion Q&A for Sessions 14 & 15 |
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Tuesday, September 29
Virtual Professionalism Seminar
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3:15 – 3:30 p.m. Break |
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4:05 – 4:50 p.m. Moderator: Billy Wong, FSA Presenters: Kitty Ching, FSA; Hassan Scott Odierno, FSA; Raymond Tam, FSA; Billy Wong, FSA |
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Registration has closed.
Registration Fees
Entire Meeting (September 28-29)
SOA Member
| Individual (one access code – no broadcasting) | $185 |
| Individual - Retired/Academic/ Unemployed/ Government Fee (one access code – no broadcasting) | $100 |
| Individual 5+ Rate (one access code, no broadcasting) *Rate only available to individuals from companies with 5+ already registered | $166.50 |
| Individual 15+ Rate (one access code, no broadcasting) *Rate only available to individuals from companies with 15+ already registered | $157.25 |
Non-Member
| Individual (one access code, no broadcasting) | $220 |
| Individual - Retired/Academic/ Unemployed/ Government Fee (one access code – no broadcasting) | $100 |
| Individual 5+ Rate (one access code, no broadcasting) *Rate only available to individuals from companies with 5+ already registered | $198 |
| Individual 15+ Rate (one access code, no broadcasting) *Rate only available to individuals from companies with 15+ already registered | $187.00 |
½ Day Only (Monday AM or PM) or (Tuesday AM)
SOA Member
| Individual (one access code – no broadcasting) | $70 |
| Individual - Retired/Academic/ Unemployed/ Government Fee (one access code – no broadcasting) | $40 |
Non-Member
| Individual (one access code, no broadcasting) | $90 |
| Individual - Retired/Academic/ Unemployed/ Government Fee (one access code – no broadcasting) | $40 |
Professionalism Seminar Only (Tuesday PM)
*seminar included with Full Symposium Registration
SOA Member
| Individual (one access code – no broadcasting) | $25 |
| Individual - Retired/Academic/ Unemployed/ Government Fee (one access code – no broadcasting) | $25 |
Non-Member
| Individual (one access code, no broadcasting) | $40 |
| Individual - Retired/Academic/ Unemployed/ Government Fee (one access code – no broadcasting) | $25 |
Registration Includes
- One access code to the live virtual symposium
- One Internet connection for streaming only
- One set of presentation materials
- Recording of the virtual symposium sesssions based on your purchase
Payment Information
- Register online, via credit card, no later than September 22.
- A confirmation of your registration will be sent by email.
- Full payment is required at the time of registration.
- For information regarding check payment please contact Customer Service. Please allow 10 days for receipt and processing of checks.
- Refunds will not be issued.
Notes
- The SOA is considered a not-for-profit corporation in Canada and therefore needs to collect applicable taxes on virtual seminars. Based upon your primary residency or company address, the appropriate tax will automatically be calculated for you (5% GST, PEI 14%, NB, NL, ON 13%, NS 15% GST/HST) during the online registration process.
- If you do not receive instructions for accessing the virtual seminar by the day prior to the event, please contact the SOA Customer Service Center at +1-888-697-3900 or via email at customerservice@soa.org with the name of the program.
Post-Virtual Seminar Purchase Opportunity
For those who are interested in viewing the virtual symposium, but are unable to participate in the live presentation, access to a recording will be available for purchase approximately 6-8 weeks after the virtual symposium.
2020 Asia-Pacific Annual Symposium Organizing Committee
- Jerome Matrundola, FSA – Organizing Committee Chair
- Boon Yoon Ho, FSA, CERA, FCIA – Organizing Committee Member
- Cheryl Liu, FSA – Organizing Committee Member
- Joseph Kim, FSA, CERA, FCIA – Organizing Committee Member
- Paul Kartono, ASA, MAAA – Organizing Committee Member
Moderators & Advisors
- Billy Wong FSA
- Dennis Ng
- Martin Choo
- Matthew Mohr, FSA
Sponsorship
A wide variety of event sponsorship opportunities are available for the 2020 Asia-Pacific Virtual Symposium. If you are interested in learning more, please view the Event Sponsor Prospectus or email Lscaramella@soa.org.
Frequently Asked Questions (FAQs)
For support, email 2020APACsym@soa.org or call +852 2147 5966
Can I Test my Computer before the Event? Yes
- Please click below to test your computer before the event:
https://support.goto.com/webinar/system-check-attendee - Refer to below page to ensure you have minimum system requirements:
https://support.goto.com/webinar/help/system-requirements-for-attendees-g2w010003 - Please click below to try a test session:
TRY A TEST SESSION - Learn further on Listening and Watching the webinar:
https://support.goto.com/webinar/how-to-join-attendees - General support page:
https://support.goto.com/webinar
Dial in Number? No
There is no dial in number for this event. All audio must be streamed through your computer. Make sure your speakers are turned on and turned up when you join the event. A headset is highly recommended for the best audio experience.
No Sound?
Confirm your computer audio settings by playing a local audio/video file, or going to a website to play audio/video. Make sure your speakers are turned on and turned up. If you continue to have trouble, restart your computer and try relaunching the event link, or use a different computer.
Buffering/Lost Audio?
If you lose audio at any time, leave the meeting and relaunch the event link using a supported web browser and operating system (see Section 1.2 in above). If still an issue, restart your computer or use a different computer.
Continuing Issues?
If you continue having issues after following the above instructions:
- email 2020APACsym@soa.org (recommended) or
- call +852 2147 5966