South Asian Actuarial Conference 2017 kicks off in Colombo tomorrow

The upcominginaugural South Asian Actuarial Conference (SAAC) aims to generate new ideas on the role of actuaries in creating value for stakeholders of insurance companies.  It is a forum to discuss and learn from thought leaders in the fields of risk management, technology, education and regulatory standards.Eminent actuaries around the globe will gather to take their seats at the two-day conference organised by the Actuarial Association of Sri Lanka (AASL) from 12 to 13 Julyin Colombo.

Tom Terry, President of the International Actuarial Association (IAA), will grace the special occasion as the chief guest.  He is a fully credentialed actuary and an active leader in the actuarial profession globally.  It is the first time a president of IAA will be visiting Sri Lanka. IAA is the apex body of all professional actuarial associations worldwide.

A total of 24 sessions will covertopics on risk, innovation, regulation and education.A keen participation is expected for sessions on IFRS 17 and its operational challenges. This new accounting standard for insurance contracts will be effective from 2021 and these sessions will assist insurers and auditors to understand the upcoming wide-ranging implicationsonbusiness operations.

Dr. Jules Gribble representing the International Association of Insurance Supervisors(IAIS) will speak on the challenges faced by regulators on inclusive insurance. As inclusion of low-income population into financial services system is a key challenge faced by the region, this session is expected to grasp the interest of all.

Delegates will be offered an opportunity to evaluate current growth trends in artificial intelligence in the insurance space.  Sessions on innovation, disruption and data science will help create awareness and also assist the insurance industry to be in par with global technological developments.

Free educational sessions will be conducted to undergraduates alongside the conference to introduce and promote actuarial education in Sri Lanka.

AASLwas set up in 2008 to govern and safeguard the code of professional ethics of its members and has been instrumental in promoting the actuarial profession in Sri Lanka. Actuaries use their skills and knowledge to measure and manage risk and uncertainty.  

The actuarial profession is consistently being ranked as one of the most desirable in various global studies, while being an actuary is ranked number one or two multiple times.Further information may be requested by emailing [email protected].