Events Library

Commercial insurance has long been a people and SME driven business, where success depends on underwriter expertise and effective management of client relationships. While the rise of Generative AI is transforming many processes, the underwriter’s role as a trusted expert remains central. In this insightful webinar hosted by the Data Analytics Virtual Forum (DAVF) held on October 21st, 2025, speakers explore how technology is reshaping commercial underwriting reducing process friction, enhancing decision-making, and enabling underwriters to focus on risk quality, portfolio health, and client engagement.

The International Sustainability Standards Board (ISSB), overseen by the IFRS Foundation, published IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures in June 2023. These standards are effective for annual reporting periods beginning on or after January 1, 2024, subject to national adoption. With their expertise in quantitative and qualitative analysis of contingent and uncertain events, actuaries are uniquely well-positioned to contribute to the identification, modeling, assessment, and disclosure of climate-related risks and opportunities as required under IFRS S2. To support this role, the International Actuarial Association (IAA) is developing the International Standard of Actuarial Practice 8 (ISAP 8), a model standard designed to guide actuaries in providing services that support the preparation of climate-related disclosures in line with IFRS S2. In parallel, the IAA is also preparing International Actuarial Note 200 (IAN 200), an educational resource offering practical examples of how actuaries may apply their expertise in the context of IFRS S1 and IFRS S2. This webinar aims to raise awareness of the IAA’s work related to the IFRS Sustainability Standards and to highlight how actuaries can play a meaningful role in advancing sustainability reporting and governance.

Following the works of Intergovernmental Panel on Climate Change (IPCC) in 2022, many climatologists have now accepted the notion of climate change. Despite all the research done, it is still a very complex concept to put into actionable models in the insurance industry. Such difficulty lies, among others, primarily in the short-time horizon that commercial companies contemplate. Typically, a business plan will not project any developments beyond a 5-year horizon, while climate change moves more slowly, where the IPCC typically looks at horizons of dozens of years. Through the application of Extreme Value Theory, this presentation intends to bridge the gap by attempting to see how the parameters of a Generalized Pareto Distribution (hereinafter “GPD”) fit into the estimated damage values of major catastrophes that evolve over the period of time 1946 – 2023. Based on the time dependency of the GPD parameters, this presentation will predict the exact year after which climate will become unpredictable and chaotic (see Smith (2003) and Bishop (2017)) hence bringing "the end of times”.

The microinsurance market is an area with a need for insurance solutions to help manage the risks of low-income and underserved populations. Although there is high demand and a growing market, the microinsurance market has limited tools and actuarial expertise applied in the space. A microinsurance-focused pricing toolkit was developed as part of the Global Actuarial Initiative (GAIN) partnership between Milliman and the United Nations Development Programme (UNDP) to build actuarial expertise in developing countries. The intention of this tool is to equip microinsurance practitioners on the technical aspects to be considered when pricing life and hospital-cash health products. It is not intended to be used to derive or determine the rates to be charged in any one market. Objective This session introduces and provides a technical overview of the microinsurance pricing models (one for hospital cash and one life) developed through GAIN and focuses on key principles of pricing in microinsurance with considerations inherent in pricing a sustainable inclusive insurance product. Audience: • Actuaries and actuarial students • Technical staff (i.e. data management, underwriting, product development) working in microinsurance • Insurtech innovators • Microinsurance providers and distributors

The fundamental question that the Internal Capital Adequacy Assessment Process or ICAAP seeks to address is: “Will the board be able to distribute its forecasted dividend payout to ordinary shareholders, whilst meeting its regulatory constraints (across capital, liquidity, funding and leverage)?” In order to address this question, the bank must assess the Institutions: • Business model and operating environment • Material risk profile • Risk Appetite statement • Capital planning and forecasting • Enterprise-Wide Stress Testing (EWST); and • Management action (risk mitigation plan) to provide a sufficient level of assurance to The Board that the Institution’s reputation will be preserved in-light of the forward-looking market disclosure.

This webinar explores the vital role actuaries play in the microinsurance sector, with a focus on developing and pricing sustainable and inclusive products. Speakers discuss the challenges of limited actuarial capacity and data in low- and middle-income countries, and how these gaps impact affordability and access. The session highlights practical actuarial tools and resources that can support inclusive insurance solutions while addressing risk management needs. It also examines how actuaries can help bridge the capacity gap to better serve vulnerable populations. This event serves as a launchpad for a more technical session on microinsurance pricing tools. Speaker: Lorenzo Chan Moderator: Queenie Chow Panelist: Jeff Blacker, Diana Almoro, Iker Llabres, Liza Maru-Chelimo, and Roelof Coertze