Events
Deloitte insurance experts speaking at the Joint Regional Seminar (JRS) 2022
20, 22, 29 September
About the event
The Joint Regional Seminar (JRS) is an annual Life and Health Insurance event co-organized by the Institute and Faculty of Actuaries and Actuaries Institute Australia with the support of the local actuarial societies in the region. It is designed to assist actuaries and other professionals to gain insights across the APAC markets and support their continuous professional development (CPD) requirements.
Insurance is one of the largest global industries, holding a significant portion of global economic assets and liabilities on their balance sheets. As a corporation, risk manager, insurer and investor, the insurance industry can play a role to develop a climate-resilient community and accelerate the transition to a net-zero emissions economy. Hence, this year’s theme is “Sustainability – The Ecosystem for the Insurance Industry”.
Deloitte's perspective
As the speakers, Deloitte China Insurance directors Christopher Tam and Anthony Bentley will host three sessions at the i. Regional program, ii. Bangkok program and iii. Taipei program respectively, sharing their insights on i. product upselling opportunities post IFRS17 implementation and ii. ERM transformation. Don’t miss out! Register Now
More details
Unleashing insurance upsell opportunities by leveraging post-IFRS17 insurance data granularity
Date: 20 September 2022 (Regional program)
Speaker: Christopher Tam, Deloitte China Insurance director
Under the current insurance ecosystem, insurance companies are facing challenges from i. pressure to grow new businesses post COVID-19 and ii. stringent regulatory requirements. Lower top-line and higher regulatory costs lead to squeezing margin which creates headaches to CEOs and CFOs. Are we sure that regulatory costs are spending just for regulatory compliance only? Have we thought about how to leverage on the granular insurance data generated from regulatory projects to support insurance sales?
Having more granular insurance data means that we can know our existing policyholders better. The question is how.
In this presentation topic, we will explore how insurance companies can analyze the granular contract and cash flow data with a proper data analytic approach and capability, and answer the following questions:
- What are the coverage gaps of our existing policyholders?
- What are the preferred product combination to fill the gaps?
- How insight generated from point 1-2 can be fed to our front office staffs, as a basis to target existing policyholders for upselling purpose with usage of appropriate technology?
ERM transformation under new insurance ecosystem
Date: 22 September 2022 (Taipei program), 29 September 2022 (Bangkok program)
Speaker: Christopher Tam and Anthony Bentley, Deloitte China Insurance director
In a post-COVID19 world, insurance companies have learnt several key lessons from a risk perspective:
- Risk landscape can evolve rapidly - Pandemic risk can surge to a very material aspect in a short time horizon together with risk contagion effect e.g. economic downturn, interest rate and equity volatility
- ERM is strategically important and dynamic framework to ensure insurance companies can operate effectively under new normal e.g. work-from-home arrangement. This is beyond a phrase for regulatory compliance.
It is never too late to think about ERM transformation under the new insurance ecosystem. In this presentation topic, we will explore the features of the new normal from a risk perspectives and assess the following questions:
- Are we placing over-reliance on bottom-up controls to flesh out risks and issues when the risk taxonomy is shifting faster than ever?
- Are we placing too much focus on the accuracy of risk information, which turns out impair the usefulness since it takes too long to put the risk reports on the desk of CROs?
- How can we reduce the time lag between two dots i.e. from "finance & actuarial information is ready for risk calculation and modelling" to "risk information is ready for decision making"?
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