Program Snapshot, Papers and Presentations

Sunday 13 November 2016

6.30pm Cocktail Party                                    

Monday 14 November 2016

8.00am Registration Opens

Lindsay Smartt
President, Actuaries Institute

Plenary 1 – Challenges of Today (Part 1) - audio 

Introductions: Michael Pascoe, Facilitator

Win-Li Toh - Presentation - video
Kate Mackenzie  - Presentation - video
Dr Katie Spearritt - video

Q&A - audio - video

Plenary Session 1A consists of three speakers who will focus on the “Challenges of Today’s General Insurance Market”.

Win Li Toh, a Principal of Taylor Fry, will begin with an overview of the current GI market by summarising the key findings of the latest JP Morgan Taylor Fry General Insurance Barometer. She will focus on the important challenges faced by the industry, the outlooks and concerns for various insurance products, as well as the recent disruptions to the industry including but not limited to digital innovation and catastrophic events.

Then Kate Mackenzie, Investment & Governance Manager of the Client Institute, will speak about the effect of climate change and the resulting risks and challenges faced by actuaries and insurers. She will also give an overview of the implications of various environmental risks on the GI market, including why climate change should be of concern to us, the consequences of these risks on the wider insurance industry, opportunities therein and how we may exploit these.

Finally Katie Spearritt, CEO and founder of Diversity Partners with over 20 years of experience in planning and executing diversity strategies for Australian and global companies, will complete the session by discussing the importance of diversity in the actuarial and wider insurance industry and how improvements may be achieved.


Plenary 1 – Challenges of Today (Part 2)

Estelle Pearson  - Presentation - video
Stuart Bingham  - Presentation - video
Mark Valena - video 

Q&A - video

The role of the Appointed Actuary has been a matter of some debate within the profession and more broadly, with APRA recently releasing a discussion paper in relation to the role within both general insurers and life insurers, At the heart of this discussion is whether actuaries fill a compliance role, a strategic role or both within their organisations. These proposals will have impacted for actuaries, insurers, and APRA themselves. This session will provide a range of perspectives on this important topic - Estelle Pearson from Finity Consulting, Mark Valena from GMHBA and Stuart Bingham from APRA will each provide their thoughts on this important topic.  

Morning Tea
Concurrent 1

Chasing the Tail: The Changing Lifecycle of a Short-Tail Claim and Impacts on Reserving
Sonia Tripolitano, Ryan Anderson
Presentation  - Audio

From Actuarial Science to Data Science - Advice for Actuaries Considering the Move into Analytics
Genevieve Hayes 
Presentation - Audio

Insurance Fraud - Are we Winning, or are the Odds Stacked Against Us?
Raj Kanhai, Jacob Mamutil, John Jeaitani 
Presentation  - Audio

The Rise and Fall of Inflation Indices
Hugh Miller
Paper  - Presentation  - Audio
12.15pm Concurrent 2 

Robustness in Reserving

Benjamin Avanzi, Mark Lavender, Greg Taylor, Bernard Wong 
PaperPresentation - Audio

Impacts of Frequency Contagion on Pricing of Catastrophe Excess of Loss Reinsurance for Australian Natural Perils
Will Gardner
Paper - Presentation - Audio

The NDIS; Today and Tomorrow
Sarah Johnson
Presentation - Audio

International Motor Trends

Kitty Ho
Presentation - Audio
1.55pm Concurrent 3

Catastrophe Model Assumptions and Uncertainty and Reinsurance Structure Response
Charles Pollack
Presentation  - audio

A Field Guide for Actuarial Analytics in General Insurance
Amanda Aitken, Yifan Fu, Jonathan Cohen, John Connor
PaperPresentation  - audio

Insuring Cyber Risk – Intro & More

Cyber Working Group
Presentation  - audio

Possibly the Biggest Risk in the World: Culture
Sharanjit Paddam, Brad Oldridge, Gloria Yu
Presentation   - audio 

Concurrent 4

Blockchains, Smart Contracts and Possible Insurance Applications 
Dimitri Semenovich  
PaperPresentation - audio

Review of Government-Sponsored Insurance Schemes
John McAneney 
Presentation - audio
Additional material

ICAAP Best Practice
Gae Robinson, Francis Beens, Patrick Zhang
Paper - Presentation  - audio
Self-Assembling Insurance Claim Model 
Hugh Miller - Presentation - audio

Afternoon Tea

Plenary 2 – Solutions for Tomorrow - audio

Introductions: Michael Pascoe, Facilitator 

Fergus Brooks - Presentation - Video
Graeme Adams - Presentation - Video
Donna Walker - Video
Nick Sordon - Presentation - Video

Q&A -
Audio - Video

Central to the theme of this seminar is the future of the industry. We know disruption is present today and is going to be the new normal for tomorrow. Digitisation, the Internet of Things and the sharing economy have given birth to new tools to enhance the way we live, work and play, as well as to new risks and customer expectations.

While white collar crime and political conflict are not new phenomena, cyber crime is increasingly used to target businesses and governments and is not restricted within geographic boundaries. The insurance sector is responding to these risks with new insurance products such as cyber insurance and peer-to-peer insurance.

According to research, Generation Y is driving down customer satisfaction scores within the insurance industry as the technology within the insurance industry is not meeting their expectations.

Solutions for tomorrow need to consider a wide range of issues covering risk mitigation, products to cover emerging insurable risks, data insights, IT systems, distribution channels, and customer experience, in a fast paced and fast changing environment. It is critical for the infrastructure and culture within the insurance sector to keep pace in this changing environment.


End of Conference Sessions Day 1
7.00pm Gala Dinner

Tuesday 15 November

8.00am Registration Opens
Plenary 3 – Your Role in Data Analytics - audio

Introductions: Michael Pascoe, Facilitator

Alan Greenfield - Presentation - Video
Craig Price - Presentation  - Video
Paul McCarney - Presentation  - Video
Simon Reid - Presentation  - Video

Q&A - Audio  - Video

The use of data analytics to gain insight and enhance business decision making, is rapidly growing both inside the general insurance industry and beyond.  The prominence of data analytics has seen the emergence of analytic departments, specialist advice and new roles within insurance organisations such as the “Chief Analytics Officer”.

The role of the actuary in data analytics, will be examined in this plenary, with the help of plenary speakers Alan Greenfield, Paul McCarney, Craig Price and Simon Reid.  They will consider issues such as:

  • Social policy: balancing insight gained against privacy considerations
  • Challenges and practicalities of implementing big data technology
  • Using analytics to improve/tailor customer service
  • Cross organisation data sharing issues
  • Practical applications and possibilities of analytical technology within the GI industry
  • How actuaries can progress the capabilities within their organisations


Morning Tea
Concurrent 5

Mythbusters: Busting Insurance Industry Myths by Venturing into the External Data Universe
Ashish Ahluwalia, Andrew MacKessack, Marcello Negro
Presentation - audio

Commercial Insurance - When Will the Cycle Turn?
Kevin Gomes, Tim Yip
Presentation - audio

Prediction of Australian Flood Claims and Calculation of Solvency Capital using Generalised Linear Models
Kevin Fergusson
Presentation - Paper - audio

Actuaries of Tomorrow
Andrew Huszczo, Tim Andrews, Jenny Lyon Elaine Collins
Presentation - audio
11.30pm Concurrent 6

Back to the Future - Thriving in a World of Digital Disruption
Scott Duncan, Dean Marcus
Presentation - audio

Building the World's Largest Insurer (Without Capital)
Kent Wong, Weihao Choo, Vincent Chen
Presentation - audio

The Future of Liability Insurance
Alice Huang, Estelle Pearson
Presentation - audio

Risk Appetite for General Insurers: The Fallacy of Certainty
Andy White, Andy Cohen
PaperPresentation - audio
12.15pm Concurrent 7

Actuarial Operations - How Should we Structure our Actuarial Teams, Processes and Systems into 2030
Gloria Yu
Presentation - audio

Keep Digging: Getting the Most out of Publicly Available Information
Luke Cassar, David Wilheim
Presentation - audio

A Week can be a Long Time in Football but is 10 Years a Long Time in Builder’s Warranty?
Daniel Smith
Presentation - audio

Today's Alternative Capital is Tomorrow's Traditional Reinsurance
Bo Jiang
Presentation - audio
1.50pm Concurrent 8

How Digital Disruption will Reshape the Motor Insurance Industry
Alice Huang, Graeme Adams, Jessie Wang
Presentation - audio
Claims Management of the Future
Steven Girvan, Melissa Yan
Presentation - audio

Climate Risk Management for Financial Institutions - A Report of the Actuaries Institute's Climate Change Working Group
Sharanjit Paddam, Stephanie Wong
PaperPresentation - audio

How to Improve Capital Management, ICAAP and Capital Performance - A Local and Global Experience
Chao Qiao, Stephanie Bower
Presentation - audio

Concurrent 9

External Data - Best Practice Use in Insurance Operations
Abhijeet Agarwal, Andrew Thompson

Natural Disasters Working Group 2016
Richard Yee, Tim Andrews, Sharanjit Paddam
PaperPresentation - audio

Maximising Opportunities in a Rapidly Cyber Risk Environment
David Millar, Robert Menzies
Presentation - audio 

Controlling Solvency in a Mutual Insurance Company
Julie Sims
Presentation - audio

Afternoon Tea

Plenary 4 - Innovation - audio

Michael Pascoe, Facilitator 

Tracy Green - Presentation - Video
Guy Russell - Presentation  - Video
Samantha Cockfield - Presentation  - Video
Vicki Mullen - Presentation  - Video

Q&A - Audio  - Video

Technological advances are occurring at a phenomenal rate. Most industries are facing wholesale changes in the way that consumers transact and interact with service providers, and insurance is no exception. While insurers have, in the past, been relatively slow to step up to the challenges and opportunities posed by the shifting digital landscape, recent developments suggest that the industry is starting to catch up. Incumbents and challengers alike are approaching many aspects of the traditional insurance value chain in new and innovative ways. From product design, to claims management, to gamification of customer engagement and even “connected” assets – the way insurers operate in a day-to-day sense is changing rapidly. The changes happening (and to come) will change the insurance landscape markedly, and insurers must have strategies in place to ensure their businesses remain relevant. This session will explore the big changes that are happening around the industry, look ahead to the major changes to come and how insurers can keep pace with the evolving marketplace. Insurers need to continue to not only meet customers’ expectations, but also be responsive and “wow” them.


Closing Remarks
Lindsay Smartt, President
5.20pm Bus to leave for Melbourne Airport

Capability Framework Functions

Contribution to Business Strategy Contribution to Business Strategy
Leadership Leadership
Actuarial Approach to Problem Solving Actuarial Approach to Problem Solving
Valuing Uncertain Future Cashflow Valuing Uncertain Future Cash Flow
Risk Management Risk Management
Professional Governance Professional Governance
Product Development, Management and Pricing Product Development, Management and Pricing
Investment Advice and Governance Investment Advice and Governance