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.

AGENDA

8:45am – REGISTRATION

9:00am

Introduction and Overview of IFRS17

How it affects the local insurance industry? Statutory reserving vs. IFRS17.

10:30am – COFFEE BREAK

10:45am

Products: Discussion of the Types of Potential Long Term General Insurance and Takaful Products

11:00am

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.

12:15pm

Implementation Issues and Game Plan

12:30pm – LUNCH BREAK & END OF WORKSHOP

REGISTRATION FEE

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

COURSE LEADER

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.

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Led by Experienced Practitioner

Practical & Relevant

Hands-on Interactive Exercises

Case Studies

Networking Opportunity with Fellow Professionals

Who Should Attend

  • Actuaries

  • Middle to Senior Level Actuarial Executives

  • Regulators

  • Researchers

In-house Training

If you are looking for an in-house training program, kindly send your request of proposal to learn@actuarialpartners.com

Registration Form - IFRS17 FOR GENERAL INSURANCE HANDS ON WORKSHOP
Registration is on a first come first serve basis. The capacity of this workshop is 24 participants. We will issue an invoice upon receipt of your registration form and payment shall be due before the workshop. We shall reserve the right to decline entry for registered but unpaid participants. Should the workshop be cancelled for any unforeseen circumstances, we shall endeavor to reschedule the workshop or refund the workshop fees. Registration fee includes participation in the workshop plus all tea breaks, lunches and workshop documents. For cancellation in writing made at least 5 working days before the closing registration date, the workshop fees may be refunded or the entire amount may be used as credit for any future learn@AP events. Substitutes may be nominated.

ENQUIRIES

M Khairul Izad

mkhairul.ishak@actuarialpartners.com
+603-21610433 ext 240