2020 Young Actuaries in Asia Essays on Societal Impact Winners Announced!

The Society of Actuaries is honored to announce the three essays that were selected as winners for the 2020 Young Actuaries in Asia Essays on Societal Impact contest:

• Actuarial Volunteers in a Kids Charity Program by Fan Xiao, ASA, Jiangang He, FSA and Jun (Forest) Wang, FSA. While social medical care in China has increased in recent years, treatment for critical diseases is still too costly for many low-income families. This team set out to help with this issue by designing an insurance plan, calculating medical costs and monitoring and analyzing the data. Their efforts lead to a plan that provides each child with sufficient insurance coverage at the lowest cost while mitigating risks for the insurance companies efficiently.

• An Introduction of Targeted Drugs Insurance for Breast Cancer in China by Zhang Ji, FSA and Lin Jing, FSA. China is one of the fastest growing countries in breast cancer incidence rate so the number of cancer patients is increasing. This team developed a product that provides drugs and services to breast cancer patients, which account for a large portion of the cost for cancer treatment and provides them with access to advanced medical resources.

• Cambodian Insured Lives Mortality with Data Science by Nicholas Yeo Chee Lek, FSA, founder and actuary at Nicholas Actuarial Solutions. This firm has developed the first publicly available insured lives mortality table for Cambodia using data science methods. Nicholas Actuarial Solutions believes that using their mortality tables in pension valuation will help ensure that pension benefit promises are adequately funded and accurately accounted for.

Congratulations to the winners and thank you to all those who submitted essays for this year’s contest. We received a number of great essays, but we could only select three finalists.  Stay tuned for opportunities to read the essays and hear the authors present their ideas in a free webcast.

Congratulations!