Actuarial Systems: what lies ahead

Perspectives

Actuarial Systems: what lies ahead?

Financial Services Forum 2016

The purpose of the presentation is to explore the future of actuarial systems driven by both regulatory change as well as the business need to improve efficiency.

This presentation will compare current actuarial systems to potential future state systems companies use, focusing on life insurance companies in Australia. The aim is to understand key gaps and how they can be bridged, and to identify common issues that users encounter in getting there. We also review the needs of recent and upcoming regulatory changes (such as stress testing, IFRS4 and 9) and explore how these might impact the design of the future actuarial system. The presentation will also consider some of the operational aspects of making changes to actuarial systems – such as the cost versus benefits of enhancing actuarial systems, and the role of technological developments and offshoring.

The Presentation is available here.

The Audio is available here.

About the presenters

Ting Fang Lim

Ting is a Director in Deloitte Actuaries & Consultants. She has over 10 years of experience in financial services, with a focus on life insurance. She has experience in a variety of areas including modelling, valuation, product development and pricing and merger & acquisition.

She has led a number of projects on reviewing and redesigning actuarial modelling system and process over the years.

Peter Baker

Peter is a Director in Deloitte Actuaries & Consultants, and has been working in the life insurance industry since 2005. His experience covers a range of areas including: modelling, valuation, capital, risk management and merge & acquisition.

He has led a number of actuarial modelling system end to end reviews for Australian life insurers, with a particular focus on the Prophet Professional modelling system.

 

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