IFoA Middle East Conference 2024: Professionalism

Speaker: Imran Haider

IFoA Middle East Conference 2024: Exploring the future of general insurance pricing in the Middle East

Amidst a dynamic landscape influenced by factors like inflation, shifting regulations, and competitive pressures, general insurance pricing continues to evolve, presenting intriguing opportunities for actuaries.

This session presents an insightful session tailored for the Middle East insurance markets. It delves into the exciting prospects shaping the future of general insurance pricing.

Among other topics, the talk covers:

real-time portfolio monitoring: stay ahead of the curve by leveraging cutting-edge techniques to monitor risk outliers seamlessly

machine learning applications: discover how machine learning algorithms can revolutionise non-risk models, from predicting propensity-to-buy to clustering vehicle brands for targeted segmentation strategies

AI-assisted modelling: overcome resource constraints without compromising regulatory compliance; explore the integration of AI-assisted functionalities into traditional GLM/GAM modelling processes for enhanced efficiency

Dawid Kopczyk and Mikołaj Skraburski, Quantee

IFoA Middle East Conference 2024: IFoA President update and keynote address 

IFoA President Kalpana Shah and H.E Mr Abdullah Al-Homid, Deputy of Supervision, Saudi Arabia Insurance Authority (IA)

IFoA Middle East Conference 2024: Professionalism

Speaker: Imran Haider

IFoA Middle East Conference 2024: Regulatory panel

Moderator: Priyank Gupta, Principal and Consulting Actuary, Lux

Jaffar Iqbal, Actuary and IFRS 17 Lead, QFCRA 

Hany Helmy, Senior Manager, Supervision, DFSA

Falak Soomro, Advisor Insurance, Securities and Exchange Commission of Pakistan

IFoA Middle East Conference 2024: Solvency II: a useful background to risk-based capital and ORSA process

Risk-basked capital and own risk and solvency assessment (ORSA) are matters of current interest in the Middle East with regional implementations underway. Some overlaps exist with the requirements of the EU’s solvency regime for insurers and reinsurers (Solvency II), which has been in effect since 2016.

This presentation provides a theoretical background to Solvency II and highlights some practical considerations in relation to its application by actuaries.

It covers the aims and pillars of the regulation (quantitative requirements, qualitative requirements, and reporting and disclosure), and how the pillars interact.

The presentation is tailored for a wide audience and is:

a refresher for actuaries who work in areas other than risk-based capital

an essentials guide for non-actuarial senior executives in insurance companies

a technically accessible introduction for actuarial students

By the end of the presentation the speaker aims for the audience to have an understanding of the purpose, structure, and outputs of each pillar of Solvency II (for example solvency capital requirements, ORSA, and public and private reporting).

Yasmeen Husain

There is a lack of knowledge which many financial institutions have about infrastructure investment. This working party will undertake research to uncover information about the risks and rewards which investing institutions are likely to experience 

Many financial institutions still believe that they do not know enough about infrastructure investment. The working party undertakes research to uncover information about the risks and rewards that investors are likely to experience. 

The working party since its inception has collaborated with the policy team on its policy work on Infrastructure. 

Chair: Chris Lewin 

Members: 12 

Established: 2014

Published Content:

• PPPs – opportunities for investment
  
• Telecom Infrastructure Primer
  
• Risks and returns infrastructure investment paper
  
• Resilience study scoping consultation - IFoA response to National Infrastructure Commission
  
• Infrastructure Finance Review, IFoA response to HM Treasury
  
• National Infrastructure - Assessment consultation
  
• Risk and Investment Conference
  
• Momentum Conference: Infrastructure – a sensible investment?
  
• Infrastructure investment - an introductory guide
  
• Infrastructure Risks - presentation for KSS event
  
• Resilience Assessment Methodology for National Infrastructure Commission
  
• Infrastructure Finance Policy Briefing
  
• Private Finance for Public Infrastructure
  
• Public private partnerships - why the time is ripe for a new generation of smarter PPPs to flourish
• Managing infrastructure resilience and adaptation
• Blog post: Is it time for a new generation of public-private partnerships? November 2024
  
• An introduction to some key issues for long term institutional investors investing in infrastructure
  

PPPs

public-private partnerships 

This panel discussion will explore key issues and challenges in AI risk management from an actuarial perspective based on discussions and outcomes from a transregional industry focus group. The session will define the gaps and challenges faced when it comes to implementing and using modern modelling techniques from a risk-perspective, in the context of regulation. They will also discuss best practice guidelines and how to take a practical approach to AI risk management. Practical outcomes include: an overview of key issues related to data science and AI regulation and risk management from an actuarial perspective; industry examples of the key modelling issues in practice in traditional and non-traditional actuarial work; best practice guidelines for data science and AI risk management; practical tips for data science and AI risk management; This discussion is aimed at participants who are looking to implement AI or data science within their functions or looking to improve their risk management in these domains. No prior technical knowledge on the topic is required. Research findings from the working group is available on request at info@actuartech.com. Comments on the panel discussion are invited either before or during the session.

Speakers: Valerie duPreez, Dupro Advisory Actuartech, Richard Galbraith, Canada Life, Charles Cowling, Mercer, Perry Thomas, Chair of the AI Ethics Working Party, Kalpana Shah, IFoA President-elect

Speakers Alan Marshall, IFoA