With actuarial conferences beginning again in the fall of 2022 in parts of Asia, Roosevelt Mosley (then president-elect) and Frank Chang (current president-elect) learned firsthand about the growing general insurance markets in Asia. They travelled with the CAS’s Asia Ambassador, Ron Kozlowski, attending local actuarial association conferences, meeting with local CAS members, regulators, employers, university faculty and students.
During the first week of October, Mosley and Kozlowski attended the Singapore Actuarial Conference 2022, “Economic Sustainable Governing Actuaries,” presenting on the topics of race and insurance, the state of big data and analytics in insurance and corporate social responsibility. The CAS also hosted an employer’s breakfast that gave Mosley insight into the local market, the good reputation of the CAS credential in Singapore and the need for the development of CAS members’ soft skills. Mosley, Kozlowski, Jeremy Lian (ARECA president) and others visited Nanyang Technological University (NTU) and Singapore Management University (SMU), raising the interest in students to consider general insurance after graduation.
“I am more encouraged than ever about our opportunities to influence the practice of general insurance in Asia,” Mosley said. “The reputation of CAS is strong in Asia, and we can build on that strength in partnership with local actuaries to lift the visibility of the value that general insurance actuaries bring.”
Over Thanksgiving week, Chang and Kozlowski attended the ASM-CAS General Insurance Seminar where Chang gave a talk on actuaries in nontraditional roles and Kozlowski and Chor Leong Aw Yong facilitated a two-hour professionalism session at the ASM Annual Dinner. Chang, Kozlowski, Yong and Shze Yeong Ong visited Malaysia’s University Malaya and Sunway University. Chang was encouraged by the developing course content on general insurance but recognized the need for raising the profile of general insurance among college students in Southeast Asia.
“It’s encouraging to see the growth in the number of general insurance practitioners in Malaysia as well as to spend time with the next generation of casualty actuaries,” Chang said. “At the same time, we need to continue to improve awareness of the value of the CAS curriculum to our university partners abroad.”
Chang and Kozlowski followed up the Malaysia trip with a visit to Hanoi, meeting with the local regulators, insurance associations and the Hanoi National Economic University. Chang and Kozlowski were met on the first night in Hanoi by a group of local students currently taking from the concepts underlying P&C ratemaking course. The enthusiasm of the local general insurance students was encouraging. Chang is interested in supporting other endeavors in Vietnam.
Based on these visits, both Mosley and Chang promised to be champions of the CAS’s opportunities in Southeast Asia.
Ronald Kozlowski, FCAS, is the lead consultant with RTK Actuarial & Professional Services in San Francisco. He is involved in numerous CAS international working groups and task forces as well as the Professionalism Education Working Group and helps plan continuing education events around the globe.