The Society of Actuaries (SOA), in partnership with the Persatuan Aktuaris Indonesia (PAI, also Society of Actuaries of Indonesia), is hosting the Asia-Pacific PAI-SOA Joint Symposium on June 20-22, 2023, with June 23 as an optional tour day. The event will be in hybrid format, with the in-person portion taking place in Denpasar, Bali, Indonesia. The theme of the symposium is Actuaries in Challenging Economics. The event will provide a learning and networking platform for members and non-members in Asia to share their experiences in the actuarial profession, the finance and insurance industries, as well as other fields related to actuaries.
- Professional sessions that will help attendees better prepare for future developments
- An opportunity to earn valuable CPD credits in a variety of practice areas
- The chance to meet and network with industry leaders
A diverse program covering topics in a wide range of areas, such as IFRS, ICS, Macro Economics, Critical Illness, Health Insurance, Technology, Innovation, Product Development, Retirement etc.
Agenda
All sessions will be in English except those indicated as (in Bahasa) which will be in Indonesia Bahasa.
Tuesday, June 20, Symposium Day 1 (Denpasar, Bali Time) 7:30 – 8:45 a.m. Registration and Welcome Break 8:45 – 9:00a.m. Introductions and Opening Indonesian National Anthem: Indonesia Raya 9:05 – 9:10 a.m. Chanting Prayers 9:10 – 9:20 a.m. Opening Traditional Dance 9:20 – 9:30a.m. Opening Speech – Persatuan Aktuaris Indonesia (PAI) (In Indonesia Bahasa) Presenter: Ade Bungsu, FSAI, President of Persatuan Aktuaris Indonesia 9:30 – 9:40 a.m. Opening Speech – Society of Actuaries (SOA) Presenter(s): · Sara Goldberg, FSA, MAAA, Member of the Board of Director, Society of Actuaries · Paul Kartono, FSAI, ASA, Greater Asia Committee Chair, Society of Actuaries 9:40 – 10:00 a.m. Opening Speech – Otoritas Jasa Keuangan (OJK) (In Indonesia Bahasa) Presenter(s): Ogi Prastomiyono 10:00 – 10:20 a.m. Opening Speech – PPPK (In Indonesia Bahasa) Presenter(s): Muhammad Sigit 10:20 – 11:10 a.m. Session 1 – Employee Benefits Trend in Indonesia and Funding Strategy Moderator: Halim Gunawan, FSAI Presenters(s): I Gde Eka Sarmaja, FSAI, MM, AAIJ, Managing Partner KKA GD 11:10 a.m. – 12:00 p.m. Session 2A – Emerging Risks in World Markets Moderator: Billy Wong, FSA Presenter(s): Xiao Xu, PhD, FSA, FIAA, CERA, CFA, Lecturer, School of Risk and Actuarial Studies Academic Mentor, Actuarial Society of UNSW; International Researcher and Research Project Manager, Society of Actuaries Session 2B – Climate Risk and Professionalism Moderator: Courtney Nashan Presenter(s): Sara Goldberg, FSA, MAAA, Board Member, Society of Actuaries, Director, Climate Risk Modeling, PwC 12:00 – 1:00 p.m. Lunch 1:05 – 2:05 p.m. Session 3A – Real Life Experience: IFRS17 Implementation and Subledger Integration Moderator: Dita Hendra Mukti Presenter(s): · Aya Seng, FIAA, Director, Moody’s · Panny Desalasiyanti, FSAI, Appointed Actuary and Deputy Group Head of Actuarial and Product, Asuransi Jiwa Astra (Astra Life) Session3B – Securing Profitability Post Pandemic - A View From Actuarial Moderator: Ira Dewi Elfini, FSAI Presenter(s): Iwan Pasila, FSAI, President Director, BRI Life Session3C – Managing Risk in a Volatile Macroeconomic Environment Moderator: Nadia Suharto Presenter(s): Chris Lim, FCII, CFA, Associate Director, AM Best 2:10– 3:10 p.m. Session 4A – Managing Volatility Under IFRS 17 Moderator: Dita Hendra Mukti Presenter(s): Chong Wen Ang, FIAA, FSAS, Principal & Consulting Actuary, Milliman Session 4B – Health Insurance: Overlooked Risks Moderator: Jhon Mart, FSAI Presenter(s): Francisca M Roeswita, FSAI, Chief Operating Officer, PT Hanwha Life Insurance Indonesia Session 4C – How Reinsurance Can Sharpen the ALM Strategy of Life Insurers Moderator: Nadia Suharto Presenter(s): Donat Piras, FIA, CERA, FASHK, FRM, Vice President, SwissRe 3:10 – 3:40 p.m. Afternoon Coffee Break 3:40 – 4:40 p.m. Session 5A – New Way to Present Group Medical Outcome to Employer Clients Rather Than "Loss Ratio" Moderator: Yudhistira Dharmawata, FSA, CFA, FRM Presenter(s): · Billy Wong, FSA · Kelby Chan, Actuarial Consultant, GUM Session 5B – ESG for Underwriting Moderator: Evi Tedjasukmana, FSA, FSAS Presenter(s): Andrew Waters, CFA, FRM, PRM, CAIA, Senior Director, Moody’s Session 5C – Navigating the Evolving Landscape of Critical Illness Insurance Pricing in Asia Moderator: Maria Zefanya Sampe, S.Si., M.Si., M.M Presenter(s): Ivan Lee, FSA, Head Pricing SEA, Swiss Re 4:40 – 4:50 p.m. Closing & Photo Session 6:00 – 8:00 p.m. Gala Dinner Wednesday, June 21, Symposium Day 2 (Denpasar, Bali Time) 7:30 -8:30 a.m. Registration and Welcome Break 8:30 – 8:40 a.m. Introductions and Opening 8:40 – 8:45 a.m. Sponsor Remarks 8:45 – 9:45 a.m. Session 6 – Long Term Contract and Guarantee Risks Moderator: Gatot Herliyanto, FSAI Presenter(s): Rianto Ahmadi Djojosugito, FSAI, CERG, QRGP, S.Si, MS, Ph.D, Technical Director, Indonesia Financial Group (IFG) 9:45 – 10:45 a.m. Session 7: IFRS 17/PSAK 74 - The New Economic Reality Moderator: Evi Tedjasukmana, FSA, FSAS Presenter(s): · Alexander Aeberli, Actuarial Associate Director, EY · Steve Cheung, FSA, Partner, EY 10:45 – 11:00 a.m. Morning Coffee Break 11:00 – 12:00 a.m. Session 8 – IFRS 17 and Its Implications on (Re)Insurance Industry Moderator: Daniel Hutahaean, FSAI Presenter(s): Min Liang Liew, Head of Life APAC1 (Ex India) Valuation, Munich Re 12:00 – 1:00 p.m. Lunch 1:05 – 2:05 p.m. Session 9A – Risk Management on Covering Loan for Credit Life Insurance (In Bahasa) Moderator: Ira Dewi Elfini, FSAI Presenter(s): · Ibnu Hasyim, FSAI, Chief Executive Officer, PT Asuransi Jiwa Taspen (TASPEN Life) · Vincentius Wilianto, FSAI, AAIJ, Technical Director, PT Asuransi Kredit Indonesia (Askrindo) · Delil Khairat, Managing Director - Technical & Operation, PT Reasuransi Indonesia Utama (Persero) Session 9B – Professionalism – Bias Moderator: Yudhistira Dharmawata, FSA, CFA, FRM Presenter(s): Victor Chen, FSA, FCIA, CERA, Chief of Staff – Asia, RGA Session 9C – Leveraging Machine Learning for Insurance Risk Prediction: Insights from Non-Traditional Factors Moderator: Fiona Tang, FSA Presenter(s): Te Jia Hau, FSA, CERA, Manager, Data Science, Pacific Life Re 2:10 – 3:10 p.m. Session 10A – What is Claims Investigation and Its Contribution in Actuary? Moderator: Francisca M Roeswita, FSAI Presenter(s): Alvin Ayodhia Siregar, SE, SH, MM, MH, AAIK, ANZIIF (Fellow), CIP., Managing Partner, Alvin Ayodhia Siregar & Associates Session 10B – Actuarial Study in New Area: Non-Government Organization Moderator: Dita Hendra Mukti Presenter(s): · Billy Wong, FSA Kelby Chan, Actuarial Consultant, GUM Session 10C – Green Computing on Cloud Moderator: Fiona Tang, FSA Presenter(s): Taik Ki Lee, FSA, Managing Director and Head, AON PathWise Solutions Group (PSG), APAC Region 3:10 – 3:25 p.m. Afternoon Coffee Break 3:25 – 4:25 p.m. Session 11A – Post-pandemic Morbidity Trends on Medical Reimbursement in Indonesia Moderator: Yudhistira Dharmawata, FSA, CFA, FRM Presenter(s): · Brad Wallis, FSA, FCIA, Chief of Product and Inforce Management, Manulife · Ryan Dermawan, FSA, Head of Health Pricing, Manulife Session 11B – Challenges in Implementing IFRS17 for Syariah Business Presenter(s): Farzana Ismail, FIA, FASM, Principal & Consulting Actuary, Milliman Mohamad Muzzakir Abd Ghafar, FIA, Consulting Actuary, Milliman Session 11C – Underwriting Transformation Roadmap: From Automation to Augmented with AI and Machine Learning, Risk Management, and Technology Enablement Moderator: Maria Zefanya Sampe, S.Si., M.Si., M.M Presenter(s): · Evi Tedjasukmana, FSA, FSAS, Chief Business Officer, Munich Re · Ryan Gaughan, Senior Data Scientist, Munich Re 4:30 – 5:30 p.m. Session 12A – Adjusting Insurance Pricing Models: Using Bayesian GLM to Incorporate Distribution Channels and Stay Competitive Moderator: M. Ivan Faizal, FSAI Presenter(s): Nanang Susyanto, Dr., S.Si., M.Sc., M.Act.Sc., Lecturer, Universitas Gadjah Mada Session 12B – Highlights from Global Mental Health Survey Moderator: Billy Wong Presenter(s): Arthur Lee, Head of Creation Re, Southeast Asia Markets, RGA · Vaibhavi Mehta, ACII, Market Development in Regional Marketing, Asian Markets, RGA Session 12C – Staying ahead of the Curve - Adapting Propositions to a Shifting Landscape Moderator: Kelby Chan Presenter(s): · Amanda Chen, FSA, Country Manager, Indonesia, Gen Re · Tze Leong Chan, FIA, Head of Maritime Southeast Asia, Gen Re 5:30 – 5:45 p.m. Closing & Photo Session Thursday, June 22, Symposium Day 3 (Denpasar, Bali Time) 7:30 -8:30 a.m. Registration and Welcome Break 8:30 – 8:40 a.m. Introductions and Opening 8:40 – 8:45 a.m. Sponsor Remarks 8:45 – 9:45 a.m. Session 13 – Professionalism Moderator: Lan Long, FSA, FCIA Presenter(s): Nicholas Yeo, FSA, FIA, FASM, FSAS, Founder & Actuary of Nicholas Actuarial Solutions 9:45 – 10:45 a.m. Session 14 – The Role of Actuaries in Strengthening Pension Funds in Indonesia Moderator: Gatot Herliyanto, FSAI Presenter(s): I Gde Eka Sarmaja, FSAI, MM, AAIJ, Managing Partner KKA GD 10:45 – 11:00 a.m. Morning Coffee Break 11:00 a.m. – 12:00 p.m. Session 15 – ChatGPT: Risks and Opportunities Moderator: Taik Ki Lee, FSA Presenter(s): · Victor Chen, FSA, FCIA, CERA, Chief of Staff – Asia, RGA · Linhui Dong, Ph.D., CSPA, Vice President, Data Science, Global Data Analytics, RGA 12:00 – 1:00 p.m. Lunch 1:05 – 2:05 p.m. Session 16A – A Practical Bottom-Up Approach for the Indonesian Market Moderator: Edwin Jingga, FSAI Presenter(s): Rifqa Fadhli, M.M., FSAI, Krungthai-AXA Life Insurance, Thailand Session 16B – What is Driving the Growth of Asset Intensive and Lapse Reinsurance? Presenter(s): Watson Teo, FIA, Executive Director, Special Projects, Asia Pacific, Gallagher Re Session 16C – Emerging Opportunities in Asia Retirement Moderator: Victor Chen, FSA, FCIA, CERA Presenter(s): Elvin Tharm, FSA, Senior Managing Director, Head of Retirement Proposition, Strategy &Transformation, Asia Retirement, Manulife Investment Management 2:10 – 3:10 p.m. Session 17A – Navigating the Changing Tides: The Impact of IFRS17 and new Solvency Regime on L&H Reinsurance in Asia, with a Focus on Korea Moderator: Lan Tong, FSA, FCIA Presenter(s): Douglas Kim, FSA, Assistant Vice President, Swiss Re Session 17B – Optimizing Portfolio : Actuary vs Underwriter Presenter(s): · Ronald Sajuti, FSAI, Head of Actuarial Division, Indonesia Financial Group (IFG) Yustinus Rinaldo Ari, Head of Insurance Operation, Indonesia Financial Group (IFG) Session 17C – Product Innovation in a Changing Landscape Moderator: Victor Chen, FSA, FCIA, CERA Presenter(s): Ouling Lu, FSA, MAAA, Head of Products, Greater Asia Life, Milliman 3:10 – 3:25 p.m. Afternoon Coffee Break 3:25 – 4:25 p.m. Session 18A – Fair Market Valuation for Life Insurers Moderator: Douglas Kim, FSA Presenter(s): Will Halley, CFA, Director, Advisory Services, Moody’s Session 18B – Actuarial Aspects in Sharia Insurance Management Moderator: Rina Elvi Roza, FSAI Presenter(s): Paul Kartono, FSAI, ASA, Chief Financial Officer, Prudential Syariah Session 18C – Predictive Analytics: Modeling Techniques, Modeling & Statistical Methods: Simulation Moderator: Kelby Chan Presenter(s): · Maria Zefanya Sampe, S.Si., M.Si., M.M, Faculty, Member of Business Mathematics, Prasetiya Mulya University 4:30 – 5:30 p.m. Session 19A – An Assessment of Model Risk in Pricing Wind Derivatives Moderator: Jhon Mart, FSAI Presenter(s): Giovani Gracianti, PhD (Cand.), Researcher, University of Melbourne Session 19B – Strategy Asset Allocation for Syariah Business Moderator: Rina Elvi Roza, FSAI Presenter(s): Liestya Sulaeman, FSAI, Chief Actuary, AXA Mandiri Financial Service Session 19C: Implementation of MAIPARK Catastrophic Modelling for Pricing and Reserving Moderator: Bukit Rahardjo Presenter(s): Ruben Damanik, S.Si, M.T, M.Si., PT. Reasuransi MAIPARK Indonesia 5:30 – 5:45 p.m. Closing & Photo Session Friday, June 23, Symposium Day 4 (Denpasar, Bali Time) 7:30 -8:00 a.m. Briefing 8:00 -9:00 p.m. Full Day Optional Tour
Educational Objectives
Share best practices with participants and create opportunity for the growth in the actuarial profession.
Audience Experience Level: All levels of experience
Target Audience
Actuaries, insurance, finance and investment practitioners, along with other industry professionals practicing in Asia-Pacific region, as well as all interested professionals from all around the world.
Primary Competencies: C, P, EF, L, RM, TS, SI, RO
LOCATION
Denpasar, Bali, Indonesia
In partnership with:
Thank you to our 2023 Sponsors
Diamond Sponsor
Gold Sponsors
Networking Sponsor
Presenter(s)
Arthur Hap-Yan Lee FSA
Head of Medical and Integrated Health
BLUE CROSS
Elvin Seet-Yeow Tharm, FSA
Head of Retirement Proposition, Asia Retirement
Manulife Asset Management
Yuk Lun Billy Wong FSA
Mercer
Paul Setio Kartono ASA,MAAA
Prudential Syariah Indonesia
Taik-Ki Lee FSA
Aon
Sara Wiese Goldberg, FSA, MAAA
VP, Actuary
RGA
Evi Tedjasukmana FSA
Chief Business Officer, Digital Solutions - Asia, Africa, and Middle East
Munich Reinsurance Company
Victor Chun Chiu Chen, FSA, FCIA
RGA Reinsurance Co
Hung Pan Cheung FSA
Ernst & Young Actuarial Services Ltd
Hiu Fai Lee FSA
Assistant Vice President
Swiss Reinsurance Company
Bradley Michael Wallis FSA,FCIA
Chief of Product and Inforce Management
PT Asuransi Jiwa Manulife Indonesia
Linhui Dong
VP - Data Science
RGA
Xiao Xu FSA,CERA
Lecturer
UNSW Business School
Lele Chen FSA
Gen Re Singapore Branch
PANNY DESALASIYANTI
AIA FINANCIAL
Ouling Lu FSA
Deok Jung Kim FSA
Swiss Re Korea
Ryan Dermawan FSA
Manulife Indonesia
Jia Hau Te FSA,CERA
Pacific Life Re Limited Singapore Branch
Nicholas Yeo, FSA
Nicholas Actuarial Solutions
Gion Donat Daniel Piras
KPMG AG
Andrew Waters
Moody's Analytics
Chong Wen Ang
FIAA
Zurich Shared Services Malaysia
Tze Leong Chan
FIA
Ammetlife
William Halley
Moody's
Kelby Chan
Alexander Aeberli
Maria Zefanya Sampe
Faculty Member
Universitas Prasetiya Mulya
Ryan Gaughan
Senior Data Scientist
Munich Re
Aya Seng
Chris Lim
Associate Director
A.M. Best Asia-Pacific (singapore) Pte Ltd
Vaibhavi Mehta
Director, Market Development, Regional Marketing
RGA Reinsurance Company
Moderator(s)
Lan P Tong FSA,FCIA
Director
Moody’s Analytics
Yuk Lun Billy Wong FSA
Mercer
Evi Tedjasukmana FSA
Chief Business Officer, Digital Solutions - Asia, Africa, and Middle East
Munich Reinsurance Company
Victor Chun Chiu Chen, FSA, FCIA
RGA Reinsurance Co
Lusia Anindita Hendra Mukti FSA
Manulife Indonesia
Fuk Yee Tang FSA
Associate
Swiss Re
Deok Jung Kim FSA
Swiss Re Korea
Yudhistira Dharmawata FSA
AXA Financial Indonesia
Kelby Chan
Nadia Suharto ASA
Nicholas Actuarial Solutions
Maria Zefanya Sampe
Faculty Member
Universitas Prasetiya Mulya
Registration
For PAI members, they must register to the PAI registration system which will be open around early May.
Registration Fees 22.40 credits (including 3.00 Professionalism CPD credits)
Include entire Meeting (June 20-22 and optional half-day tour on June 23) but exclude hotel guest room fee.
Virtual Registration Fees
|
SOA Member |
Individual (one access code, no broadcasting) |
$380.00 |
|
Non-Member |
Individual (one access code, no broadcasting) |
$480.00 |
Registration Fees for Physical
|
SOA Member |
$520.00 |
|
Non-Member |
$650.00 |
Payment Information
- Register online, via credit card, no later than June 14, 2023.
- 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.
- order confirmations are emailed upon completion of registration. Mail-in registration confirmations are emailed after the order has been processed. If you do not receive a confirmation, please click here, select "View Order History" and log in to confirm your order was placed. To request another copy of the confirmation order or to update the registration form, please contact Customer Service at customerservice@soa.org. By e-mailing customerservice@soa.org, you may make changes to your registration until June 2, 2023.
Cancellation Policy and Process
- To cancel an order, please contact customerservice@soa.org.
- The SOA reserves the right to cancel any seminar if conditions warrant. In the event of such cancellation, registration fees will be refunded in full. We are not responsible for any discounted airfares or hotel penalties that an attendee may incur due to cancellation.
- An attendee may transfer his/her registration to another individual without a processing fee; however, the transfer must occur within the same meeting or seminar.
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.
Continuing Professional Development Credit
The SOA Continuing Professional Development (CPD) Requirement was effective on Jan. 1, 2009, and members must report compliance annually as of each Dec. 31. Members must meet the Basic Requirement provisions of Section B or one of the Alternative Compliance provisions of Section C of the SOA CPD Requirement in order to be deemed compliant.
The sessions at this seminar meet the basic SOA requirements and may be suitable to meet the provisions of an Alternative Compliance standard (please consult the appropriate standard).
Below is the maximum number of credits you could receive, based upon your attendance.
- 22.40 credits (including 3.00 Professionalism CPD credits) may be applied toward the “Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion” and the “SOA Continuing Professional Development Requirement.”
- 18.67 credits may be applied toward “The Canadian Institute of Actuaries Qualification Standard—Continuing Professional Development.”
Ultimately, it is the member’s responsibility to make a reasonable, good-faith determination as to whether a continuing professional development event meets the CPD Requirement.
For further information on these requirements, visit SOA.org.
U.S. Qualification Standards
The Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States took effect Jan. 1, 2008, and were developed by the American Academy of Actuaries’ Committee on Qualifications on behalf of the five U.S. actuarial organizations.
The SOA believes that sessions at this meeting may be suitable for filling this requirement as continuing education under the U.S. Qualification Standards. Ultimately, it is an actuary’s responsibility to make a reasonable, good-faith determination of what continuing education opportunities will enhance his or her ability to practice in a desired field.
For further information on this requirement, please visit the https://www.actuary.org/content/us-qualification-standards
Contact Us
If you have any concerns or questions, please contact the SOA Customer Service Center Monday through Friday, 8 a.m. to 5 p.m. CT at +1-888-697-3900 or Monday through Friday, 9 a.m. to 6 p.m. Hong Kong Time at +852-2147-5966. You can also e-mail the SOA Customer Service Center at customerservice@soa.org or apac@soa.org.
Room Booking
Hotel room reservation, please visit the hotel website below:
- Pullman Bali Legian Beach
Bali, 80361 Legian, Indonesia - Wyndham Garden Kuta Beach Bali
Pantai Kuta No 99X, Kuta, Bali, 80361, Indonesia - Mamaka by Ovolo
Pantai Kuta No.32, Legian, Kuta, Kabupaten Badung, Bali - Sheraton Bali Kuta Resort
Pantai Kuta, Kuta, Bali, Indonesia, 80361 - Mercure Bali Legian
Legian No 328, Legian Kelod Kuta, Kuta, Bali, 80361 BALI, Indonesia - Hard Rock Hotel Bali
Pantai Kuta, Banjar Pande Mas, Kuta, KabupatenBadung, 80361Indonesia