6th General Insurance Conference

29-30 May 2014

6th General Insurance Conference

29-30 May 2014

Programme Day One – 29th May 2014

Time Topic Name Company 8:30 Registration

9:00 Introduction and Welcome Matthew Maguire SAS 9:10 Opening Address Mr Derek Teo GIA 9:30 Hazard Game: Intro and Round 1 William Liang SAS

10:10 Demystifying Urban Myths William Song & Felicia Er MSIG 10:40 Morning Tea 11:10 Actuarial Pricing – Theory and Deviation Dr Asha Joshi 11:40 Hazard Game: Round 2 William Liang SAS 12:00 Reinsurance Myths Colin Priest Aegeas 12:30 Session 1 Q&A

12:45 Lunch 14:00 Hazard Game: Round 3 William Liang SAS

14:20 Recruitment Panel Discussion Richard Burfitt Clare Berthell & Jason Sykes Jim Qin

IPS hfg SAS

15:35 Afternoon Tea 16:05 Hazard Game: Round 4 William Liang SAS 16:25 Catastrophe Bonds Saanya Jain, Ankit Goyal Towers Watson 16:55 WP: Nat Cat Pools Darren Ma SAS 17:10 WP: Risk Transfer Fred Boulliung SAS 17:25 Session 2 Q&A 17:40 Hazard Game: Wrap Up William Liang SAS 18:00 Dinner and Cocktails at The Lawn 22:00 Close

Day Two – 30th May 2014 Time Topic Name Company 8:30 Registration

9:00 Intro to Behavioural Analysis Jim Qin SAS 9:15 Empowering Customer Segmentation Matthias de Ferrieres Axa 9:45 What is ‘Big Data’? David Hardoon E&Y

10:15 Customer Analytics – Propensity Modelling Frankie Chan Ageas 10:45 Session 3 Q&A 11:00 Morning Tea 11:30 Singapore’s Got Talent 12:30 Lunch 13:45 RBC2 – Panel Discussion 14:15 WP: Diversification Benefit Jim Qin SAS 14:45 WP: PAD Margins Matthew Maguire & William Liang SAS 15:00 Reinsurance: A cap on capital Hussain Ahmad Swiss Re 15:30 Afternoon Tea 16:00 Transformation of Motor Insurance Yuen Ling & Sheng Chieh NMG 16:30 Session 4 Q&A 16:45 Behavioural Analysis Jim Qin SAS 17:15 Quiz Results 16:20 Closing Keynote Speaker George Attard Aon Benfield

Introducing the Speakers William Song William is the regional actuary of MSIG Asia, based in Singapore. He is originally from South

Korea but grew up in Sydney, Australia. William has thirteen years of insurance experience from different insurance markets around Asia-Pacific.

His experience includes insurance liability valuation, capital modeling, risk management, technical premium rating, mergers and acquisitions and insurance analytics.

William earned a bachelor's degree in Actuarial Studies at Macquarie University in Sydney, Australia and an MBA with Honors at the University of Chicago Booth School of Business from Chicago, USA.

Felicia Er Felicia joined MSIG Asia in October 2012. Prior to this, she worked in the analytics team at Aon Benfield Asia and as a consultant in the general insurance actuarial department at Ernst and Young, London. Felicia has a range of experience in reserving, reinsurance optimisation, reinsurance pricing, capital modelling, Solvency II implementation, preparation of financial condition report and profitability analysis.

Felicia is a Fellow of the Institute of Actuaries in the UK and a Fellow of the Singapore Actuarial Society

Dr Asha Joshi Mrs. Asha Joshi has done graduation in Physics. She developed interest in Economics and has done post-graduation and then PhD in it from University of Pune. She started actuarial studies while working in Life Insurance Corporation of India; Became Associate of Institute of Actuaries London and then Fellow of Institute of Actuaries of India.

For the past 8 years she is Appointed Actuary of Bajaj Allianz General Insurance Company; second largest general insurer in private sector. During this period she has done IBNR certification for Allianz Insurance Lanka ltd. for 5years. She was Actuary of Employees State Insurance Corporation from 1989 to 2003. ESIC is a major social security organization providing sickness, employment injury benefits and medical care to industrial workers.

She was Associate professor at National Insurance Academy for3 years.

Colin Priest Colin is an Australian actuary with more than 25 years of experience in general insurance, including more than 4 years in Asia. Even though Colin’s actuarial work has included practically all lines of business and all types of actuarial roles, Colin has also enjoyed his experience in non-actuarial roles such as CEO of a high-tech start-up company, relationship management, portfolio management, marketing, customer analytics and artificial intelligence for video security systems. If you ask him, he will tell you an amusing story involving his project work for a pharmaceutical company…

Colin currently works in a regional role for Ageas. He used to live and work in Singapore, but now his work tends to take him to other Asian countries. Nevertheless, he comes back to visit Singapore every few weeks to have fun with his Singaporean friends and enjoy the Singaporean lifestyle.

Richard Burfitt Richard Burfitt is a Manager in the IPS Group’s Singapore office. After graduating from Cardiff University with a degree in Business Management, the early part of his career saw Richard working in the London market on Senior Appointments placements within the Financial Services sector.

Richard moved to Singapore in 2010 to help establish the IPS office by focusing on assignments in the General and Life Insurance sectors including GI Actuaries and CAT Modelers.

SINGAPOREACTUARIALSOCIETY

SINGAPORE ACTUARIAL SOCIETY

1976

Colours Fonts

R: 217G: 217B: 217Code: #D9D9D9

R: 194G: 14B: 26Code: #C20E1A

For SAS Text: Book Antiqa

For “1976”: Century Gothic

Logo Breakdown

Clare Bethell Clare has built the International division at HFG, establishing a team focused on the recruitment of Actuaries predominately in Asia. In 2013 HFG opened a Singapore office and Clare has been travelling between the UK and Asia assisting in the set up, meeting clients and candidates and helping the team to settle in.

Clare trained as a Chartered Accountant at PwC within the Insurance and Investment Management Division, she was seconded to Australia and worked in their Sydney offices before moving into recruitment. In Sydney, Clare joined an insurance and banking recruitment specialist where she established the Chartered Accounting division. In 2008 with their support Clare established her own business, Destination Recruitment, specialising in the recruitment of qualified accountants to work overseas before she made the move to HFG’s actuarial team in 2009.

As a consultant Clare has an in-depth industry knowledge, an excellent international network of contacts, a professional, diligent work ethic and an approachable manner. She expects to go the extra mile in assisting clients and candidates in order to find the right person or position.

Clare holds a Bachelor of Arts degree in Politics from Newcastle University, and is a qualified Chartered Accountant with the Institute of Chartered Accountants of Scotland (ICAS).

Jason Sykes Jason was a founding Director of HFG bringing his extensive network and experience to develop the company into a leading insurance recruitment business. With over ten years experience in both search and contingent recruitment Jason has been instrumental in developing the HFG brand into a leading name in the industry. In December 2013 Jason re-located to Singapore to lead HFG’s Asia business and recreate the business model which has been so successful in the UK. In addition, Jason still has responsibility in the UK and maintains a number of key client relationships as well as delivering parts of HFG’s bespoke and leading in-house training programme.

Jason is a father of two children, Coco and Juan Pablo, enjoys travel and is a keen sportsman. He has played cricket at County standard with Yorkshire and also represented Loughborough University at First XI level. Jason completed the 2009 Flora London Marathon, holds a private pilot’s license (PPL) and is Captain of Sunbury Galaxy Football Club.

Jim Qin Jim has been working in the general insurance industry for more than 13 years having been responsible for actuarial, risk, product, pricing and capital management functions at various international insurers and consultancies.

Jim joined Tokio Marine Asia in June 2012. He currently has a variety of responsibilities including risk management, P&C Actuarial and Motor Business across Tokio Marine companies in Asia Pacific. Jim has been involved in many ERM projects in the region, including Stress Testing, Economic Capital Model, and implementation of ICAAP and ORSA framework.

Prior to joining Tokio Marine, Jim worked for Towers Watson as a Director and Head of General Insurance Consulting Practice in Southeast Asia.

Jim is a Fellow of the Institute of Actuaries Australia and a Chartered Financial Analyst. Jim is currently a council member of the Singapore Actuarial Society, and Chair of the General Insurance Committee.

Saanya Jain Saanya Jain is an actuarial analyst with the Risk Software and Consulting practice of Towers Watson with three years of experience. She provides consultancy services to clients across the UK, US, Japan and India.

Her capital modelling work spans the design, development, documentation, implementation and stress testing stages. Her interest and expertise also lie in reserve assessments, and not surprisingly, she is a member of the ‘Pragmatic Stochastic Reserving’ working party of IFoA. She has co-authored a paper on ‘Climate Change – Role of an Actuary’.

Ankit Goyal Ankit Goyal is a senior analyst with the Risk Software and Consulting practice of Towers Watson with more than four years of experience. Over the years, he has carried out various projects for large (re)insurance firms and Lloyds syndicates in varying capacity helping them with model build and design, stress testing, reserves assessment, embedding Own Risk and Solvency Assessment (ORSA) and group capital assessment.

He has a keen interest in research and has co-authored an article and a research paper. He is also a member of the ‘Risk: Elephants in the Room’ working party group.

Frederic Boulliung

Frederic BOULIUNG is French fellow actuary and has been working in the reinsurance industry for 14years.

Before moving in Singapore 2 years ago, he has been working in Switzerland, Canada, Belgium and France. His current responsibilities are risk & pricing assessments of APAC reinsurance businesses. He is also working with the European global head office in respect of portfolio modelling.

He has obtained the CERA qualification in 2011 and he is external teacher of the Actuarial Master at the University of Strasburg since 2009.

Matthias de Ferrieres

Matthias is a French citizen married with a Chinese Singaporean and has 2 Children (2008, 2010). He is living in Asia since 1999. Economist & Legal background (Chicago University, Sydney University), he has over 12 years of experience in AXA P&C insurance in South-East Asia.

He joined the Actuarial team in AXA Singapore in 2001. From 2003 to 2007, he set up and managed the Technical teams in Singapore. In 2008, he sets up the Technical team in Thailand. In 2010, he is appointed Regional Head of the Business Services team that focuses on Business development. In 2011, he joins the team that opens the Indonesian JV between AXA & Mandiri Bank as a head of Operations.

In 2012, Matthias is appointed to lead the Marketing for GI. In 2013, he also invited to head the digital team for the region.

His team is responsible to develop a more customer centric business approach for all GI lines yet with a strong focus on Retail, Motor and SME. His objective is to come up with innovative & differentiating value proposition on both products and services to serve all distribution channels: traditional, direct and bancassurance, with a strong focus on digital.

David Hardoon Dr. David R. Hardoon is an Associate Director at Ernst & Young Advisory Pte. Ltd. where he is leading the advanced analytics practice and is responsible for the positioning of business analytics advisory and services to clients across different business sectors. Previous to his current engagement he had established expertise in developing and applying computational analytical models for business knowledge discovery and analysis through his involvement in a number of research projects in the domains of taxonomy, neuroscience, aerospace and finance. He received a B.Sc. in Computer Science and Artificial Intelligence with first class honors at Royal Holloway, University of London in 2002 and a PhD in Computer Science in the field of Machine Learning from the University of Southampton 2006. He is currently an Adjunct Faculty at School of Information Systems, Singapore Management University and an Honorary Senior Research Associate at the Centre for Computational Statistics & Machine Learning, University College London.

David regularly tutors, advises and provided consulting support in Analytics and Business Analytics. More can be found on www.davidroihardoon.com

Frankie Chan Frankie is an Australian actuary with over 10 years of experience across General Insurance and Retail Banking. Frankie has a passion in applying analytics and modelling techniques in solving business problems, with a focus on value add. Frankie spent the first 7 years of his career in General Insurance, specializing on pricing and capital modelling. Prior to joining Ageas Frankie was enjoying himself as the only actuary in the pricing analytics function of a major retail bank in Australia, where his job involves setting customer level interest rates for deposit and lending products.

Ageas brought him to Asia in 2013 in a regional role based in Hong Kong, where he provides mentoring and support to Ageas’ joint venture partners in Asia.

William Liang William is an Associate Director from Ernst & Young based in Singapore where he leads the general insurance actuarial team in South East Asia. He has over 13 years of consulting experience and specializes in liability valuation, due diligence support & appraisal valuation, business strategy, portfolio management, operational improvement, capital and risk management for insurers.

William is a Fellow of the Singapore Actuarial Society and the Institute of Actuaries of Australia, and serves as part of the General Insurance Committee of SAS.

Matthew Maguire

Matthew is a Partner with NMG Consulting, based in Singapore and Kuala Lumpur since May 2008. Matthew has over 20 years working in general insurance in Australia, the United Kingdom, Hong Kong, Singapore, Malaysia, Sri Lanka, Thailand and Indonesia.

Matthew’s prior experience includes: Personal lines insurance pricing and reserving, Non-Life reinsurance structuring and pricing, London market insurance business pricing and reserving, Operational risk modelling for banks, Internal risk based capital model development and implementation, Business planning and forecasting, Company valuation and pricing.

Hussain Ahmad Hussain Ahmad is a Structurer and Casualty Actuary at Swiss Re in Singapore. He currently advises Swiss Re clients on effectively using reinsurance to achieve strategic objectives.

Hussain has had over a decade of consulting experience prior to joining Swiss Re, and has worked across various markets advising clients on wide-ranging issues including capital management, liability valuation, M&A, distribution strategy and others. He has a keen interest in the area of risk and capital management, and has been addressing various aspects of the topic at the SAS GIC over the last few years.

Hussain holds a MFin degree, with Distinction, in Financial Engineering from The University of Hong Kong; and a BSBA, with Magna Cum Laude, in Actuarial Science from Drake University. He is a Fellow of the Casualty Actuarial Society, Singapore Actuarial Society and the Actuarial Society of Malaysia.

Yuen Chin Yuen joined NMG Consulting in Kuala Lumpur as a Consultant in 2013. Since joining NMG, she has been involved in the stress-testing and statutory valuation of insurance liabilities for various General Insurance companies in Southeast Asia.

Prior to NMG, Yuen was a Consultant within the Deloitte’s Actuarial and Insurance Solutions Practice in London, where she worked extensively on risk capital quantification projects (model building, parameterisation and validation) and reserving.

Yuen is a Fellow of the UK Institute and Faculty of Actuaries (FIA).

Sheng Chieh Loh

Sheng Chieh is a Consultant with NMG’s Actuarial Consulting Solutions practice and is based in Kuala Lumpur. She has been involved in statutory valuation and stress testing of insurance liabilities for various General Insurance companies around the South East Asia region since joining NMG.

Prior to NMG, Sheng Chieh was the Manager of the Enterprise Risk Management & Actuarial Department for a large general insurance company in Malaysia, where she worked extensively on ICAAP and stress-testing.

Sheng Chieh is an Associate of the Institute of Actuaries Australia.

George Attard George joined Aon in July 2008 and is based in Singapore.

George has over 23 years of experience in financial services including property & casualty (re)insurance, banking and finance, life (re)insurance and pensions in various roles including consulting, pricing & product actuarial, underwriting and management.

As Head of Aon Benfield Analytics, Asia Pacific, George is responsible for the coordination and provision of Aon Benfield’s analytical capabilities to meet our client’s strategic risk and capital objectives. This includes the Catastrophe Management, Actuarial, Regulatory and Rating Agency Advisory teams in addition to the APAC Impact Forecasting catastrophe model development team.