Peak Re, an Asia-based reinsurer, sponsored an Actuarial Case Competition organized by Asia Region Casualty Actuaries (ARECA), a CAS Regional Affiliate group. The competition aims to support and encourage university students in Asia who are interested in the general insurance actuarial field.
This year’s competition focused on researching the impact of electric vehicles (EVs) on the auto industry. Over 40 teams from 21 universities across Malaysia, Singapore, Australia, Hong Kong, Mainland China, Indonesia, Nepal, Taiwan and Vietnam participated.
Five shortlisted teams had the opportunity to present their research to a distinguished panel of judges:
- Alvin Chan, FCAS, co-head of pricing, property & casualty, Peak Re.
- Chihang Wong, FCAS, co-head of pricing, property & casualty, Peak Re.
- Geoff Werner, FCAS, managing member, Werner Advisory LLC.
- Ron Kozlowski, FCAS, lead consultant, RTK Actuarial & CAS Asia Ambassador.
- Aw Yong Chor Leong, FCAS, head of actuarial, Lebuan Reinsurance Berhad and President of ARECA.
The top three winning teams were awarded cash prizes ranging from $600 to $1,800. Each winning team member also received a certificate of achievement and one free CAS exam registration.
Congratulations to all the participants and winners!
Winners’ Testimonials
First place winners: Mooi Chun Yan (Alex), Ethan Lee Jia Hua and Chi Peiqi, Sunway University, Malaysia
“We are incredibly honored and grateful to have been named champions at the Peak Re-Sponsored CAS ARECA Case Competition 2024. We extend our heartfelt thanks to the organizers, sponsors and judges for creating this platform, as well as our mentors and peers who supported us along the way.
This competition pushed us to think critically, collaborate effectively and apply our knowledge to real-world challenges, just like working actuaries. Throughout the journey, we faced many hurdles, from identifying complex problems to crafting innovative solutions, but it was within these challenges where the invaluable learning lies.
This achievement is not just a milestone for our team but a testament to the power of persistence and teamwork. We hope to inspire others to embrace opportunities like this.”
Second place winners: Darrell Lee Yu-Rong, Tan Yew Lu Keefe and Ng Wei Jun Eann, Nanyang Technology University, Singapore
“As a team of first-year students, participating in the Peak Re-Sponsored CAS ARECA Case Competition was a transformative experience. We stepped into the roles of both actuaries and consultants to analyze the impact of EVs on insurers and reinsurers. Learning from the many talented teams across Asia and gaining insights from seasoned judges was truly eye opening. This challenge not only honed our technical skills but also deepened our understanding of how emerging technologies are reshaping risk and sustainability, equipping us with a fresh perspective for the future.”
Third place winners: Kung Zhe Wei, Lim Xao Yang and Yau Zhi Yun, Universiti Malaya, Malaysia
“We are incredibly grateful for the opportunity to participate in this competition. It was an enriching experience that challenged us to think critically about the evolving landscape of the motor industry, particularly the impact of EVs. Through this journey, we gained valuable insights, collaborated as a team and learned from industry experts and fellow participants.
Achieving third place is an honor, and we truly appreciate the effort of the organizers, judges and everyone involved in making this event a success. This experience has further fueled our passion for research and problem solving, and we look forward to more opportunities like this in the future.”
