This is a half-day workshop introducing the concepts of IFRS17 for general insurance and takaful, and interpreting it to the Malaysian market. Participants are not assumed to have a working knowledge of IFRS17 nor is there a need to be an actuary. Concepts will be shown through hands-on working examples. By the end of the workshop participants will have created spreadsheets with working IFRS17 concepts.
As this is a hands-on workshop, participants will be required to bring a laptop in order to participate in the exercises.
8:45am – REGISTRATION
Introduction and Overview of IFRS17
How it affects the local insurance industry? Statutory reserving vs. IFRS17.
10:30am – COFFEE BREAK
Products: Discussion of the Types of Potential Long Term General Insurance and Takaful Products
In Depth Look at the Concepts and Calculations: Single Premium Long Term Houseowner Insurance Plan
This is a hands-on session where participants will do a review of basic cash flows and work through the fulfillment cash flows (best estimate and risk adjustment). Participants will then continue to calculate the contractual service margin.
Implementation Issues and Game Plan
12:30pm – LUNCH BREAK & END OF WORKSHOP
Early Bird Rate: MYR 945 (valid until 5 April 2018)
Normal Rate: MYR 1,745
(All rates stated are not inclusive of GST)
Registration Closing Date: 16 April 2018
Nurul Syuhada Nurazmi, FCAS, FASM
Actuary and Partner, Actuarial Partners Consulting
Syuhada joined Actuarial Partners after completing her BA in Actuarial Science and Risk Management & Insurance at University of Wisconsin, Madison (USA). She has been with the company since May 2004 and is among the first in Malaysia to qualify as a Fellow of Casualty Actuarial Society (FCAS).
She has performed reserving for Incurred But Not Reported (IBNR) claims and Risk-Based Capital (RBC) works for general insurers and takaful operators in Malaysia, Brunei, Mauritius and Bahrain. Her experience in appraisal valuation ranges from due diligence of the general insurers/takaful operators to determining the potential value of a bancassurance general operations of a Malaysian insurer. She has also assisted in the feasibility study for the set-up of a family takaful operations in Malaysia and was involved in the modelling of a stress testing tool for a retakaful company in Malaysia. Furthermore, she had performed a review of the insurance and takaful operations of a banking entity in Malaysia with focused areas on profitability, capital allocation, accounting treatment, rating and underwriting processes.
Syuhada is also involved in the pricing and certification of Medical and Health insurance and takaful products in Malaysia. This includes the industry pricing of Life Insurance Association of Malaysia’s and Malaysian Takaful Association’s Critical Illness Scheme for the Employee Provident Fund and the National Insurance Association of Malaysia’s Sihat Malaysia and Cergas Malaysia products.
She is currently the Appointed Actuary for several general insurers and takaful operators in Malaysia and Brunei.
Led by Experienced Practitioner
Practical & Relevant
Hands-on Interactive Exercises
Networking Opportunity with Fellow Professionals
Who Should Attend
Middle to Senior Level Actuarial Executives