Actuaries Institute Podcast

In the latest episode of ConverseAI, host Tong Zhang speaks with Estelle Liu about how data science can help address key challenges in superannuation, including large-scale projections, understanding customer lifetime value and predicting member behaviour.

In our latest episode of ConverseAI, host Aidan Sussman chats with actuaries Ean Chan and Minh Phan, and data scientist William Zheng on the large language model (LLM) applications they use to assist, from text summarisation to assisting classification for pricing and cost models.  They also discuss the recent developments within the LLM industry and the benefits of using retrieval augmented generation (RAGs) versus fine-tuning to guarantee your output aligns with your intentions.🎧 Listen now.View the transcript.

In our latest episode of ConverseAI, host Meg Yang chats with industry experts Jacky Poon, Jon Shen, and Andres Villegas Ramirez on the integration of generative AI within the actuarial profession.Listen now.View the transcript.

Actuaries Institute Fellow Meg Yang brings together Victor Bajanov, Jacky Poon and Sam Zheng to discuss the potent capabilities of AI in driving businesses' efficiency and growth.In this podcast, they discuss:the efficiency and growth ChatGPT and LLMs can offer;how industry leaders can leverage AI for better customer service and decision support;the challenges of data security and workforce adaptation;how to balance AI tools with human expertise; andtips on implementing AI with a forward-thinking mindsetTune in now.View the transcript.

In our latest podcast, Superannuation and Investment Practices Committee (SIPC) members Christine Li and Hendrie Koster delve into the pressing issue of greenwashing within the superannuation and investment industry and what it means for superannuation and investment firms and consumers.Listen to the podcast now. View the transcript.

Explore the intersection of generative AI and education with Kriti Khullar in a new Actuaries Institute podcast. Joined by Amanda Aitken, Andres Villegas, and Jon Shen, this episode explores how AI tools like ChatGPT are impacting learning and the actuarial profession.Listen now to find out how AI is affecting the world of actuarial education now.View the transcript.

In the rapidly advancing world of artificial intelligence, the conversation around ethics has never been more critical. In this podcast, Kriti Khullar, an Associate of the Actuaries Institute and lead at IAG, discusses this digital conundrum with Victor Bajanov of Quantium and Tiberio Caetano from the Gradient Institute.Listen now.View the transcript.

One year on from our publication, Home Insurance Affordability and Socioeconomic Equity in a Changing Climate, home insurance affordability remains a significant concern. To highlight and address this issue, the Institute has published new research, Home Insurance Affordability Update and Funding for Flood Costs: Affordability, Availability and Public Policy Options. The second report, Funding for Flood Costs: Affordability, Availability and Public Policy Options, examines riverine flood risk, which plays a significant role in the current pressure on home insurance affordability. The report outlines a package of short, medium, and long-term policy measures that should be considered by governments, insurers, and other stakeholders to reduce affordability stress for households who are also facing the highest risk. In this episode, lead author Evelyn Chow speaks to Actuaries Institute Executive General Manager of Public Policy and Professionalism Vanessa Beenders about:Why solutions for flood risks are so crucialThe suite of potential solutions, including:risk reduction;cost sharing; andgovernment direct cost reduction.

One year on from our publication, Home Insurance Affordability and Socioeconomic Equity in a Changing Climate, home insurance affordability remains a significant concern. To highlight and address this issue, the Institute has published new research, Home Insurance Affordability Update and Funding for Flood Costs: Affordability, Availability and Public Policy Options. Home Insurance Affordability Update examines home insurance affordability in the context of all natural perils, and found that the proportion of “affordability stressed” households – those that spend more than one month’s worth of their gross annual income on home insurance – rose from 10 to 12% in the year to 31 March 2023. These households spend on average 8.8 weeks of their income on home insurance, which is more than seven times what the average household spends. In this episode, lead author Sharanjit Paddam and Actuaries Institute Executive General Manager of Public Policy and Professionalism explore:The meaning of extreme affordability pressure and its drivers.Affordability by local government area (LGA).How the different types of natural perils impact insurance affordability.The expected impact of the Cyclone Reinsurance Pool on insurance affordability.

The deep economic divide between Australia’s rich and poor is in danger of worsening unless wide-ranging government policy reform is undertaken, a new Green Paper released by the Actuaries Institute warns. In the latest episode of the Actuaries Institute podcast, Vanessa Beender discusses some of the Paper’s findings with one of the authors, actuary Dr Hugh Miller, including:the meaning of inequality;the relationship between inequality and health, education, housing and environmental outcomes;policy recommendations to address this issue.

In our latest podcast, Risk Management Practice Committee (RMPC) members Jason Yu and Srikar Velivela come together to review RMPC’s achievements and accomplishments during 2022.RMPC consists of experienced actuaries with expertise in various areas of risk management including insurance, banking and finance. The committee works together to develop guidance and resources that help actuaries effectively manage risks in their respective industries and provides input and advice on regulatory and legislative matters relating to risk management. In this episode, members of RMPC share:An introduction to the committee and their mission.Updates from the latest Enterprise Risk Management Fellowship course.Insights gained from recent CPD sessions.Valuable inputs on regulatory matters.How the committee adapted to the challenges of the COVID-19 pandemic.Listen to the podcast below ⬇Read the transcript.

As data science and artificial intelligence continue to break new grounds, the need for data scientists continues to grow stronger and stronger by the minute. But what does a career in data science look? And more important, how do you get there?In this episode, Tong Zhang speaks with Kelly Chu President of the UNSW Actuarial Society and Rohan Dixit, Data Science Executive, Quantium to discuss their careers in data science across the different career stages. In this episode they share:Parallels between actuarial science and data scienceWays to explore data science pathways as a studentInsights from working within the data science sectorThe conversation is followed by an exclusive interview with Jas Singh, Senior Recruiter for SKL who shares insights on the top skills and traits employers are looking for. Listen to the podcast: https://api.spreaker.com/v2/episodes/53067593/download.mp3Read the transcript.

With its roots in a ride hailing up, Grab Insure Business is not an insurance company. It’s not a bank a consultancy firm but rather something completely different.Grab Insure Business is part of a NASDAC listed, unified conglomerate multinational company based in Singapore. Being the first decacorn in Southeast Asia, it has a simple mission of providing financial empowerment and creating economic opportunities by bringing users into the digital age by expanding their business.But how exactly does Grab Insure Business work? How is it different to traditional insurance platforms? And will we see more business Grab Insure Business emerge as the digital revolution continues?To discuss these questions, actuary Iwan Juwono (Head of Insurances at Grab Insure Business) joins industry-peer Louis Lee (Fellow Actuary and Partner at Deloitte Consulting) on the Actuaries Institute Podcast.

Today the Actuaries Institute releases its latest Green Paper, Cyber Risk and the Role of Insurance.Australians are more dependent than ever on technology and cyber risk cost the Australian economy $33 billion last financial year.The paper, written by actuaries Win-Li Toh and Ross Simmonds, and technology expert Michael Neary, notes while the first line of defence against cyber risk will always be good cyber hygiene and security, cyber insurance is an important second line of defence.There are gaps, however, in achieving the best practice ideal, especially a severe skills shortage, limited understanding among Boards of the role of cyber insurance, limited education among SMEs of cyber risks, and capacity and profitability challenges in the market including for accumulation risks.This Green Paper offers several solutions-focused discussion points, as we examine the complementary roles of government, business and insurers in creating a robust best-practice framework, where cyber insurance can thrive and offer better protection against cyber risk.GREEN PAPER: https://www.actuaries.asn.au/Library/Opinion/2022/CyberRiskGreenPaper.pdfTRANSCRIPT: https://actuaries.logicaldoc.cloud/download-ticket?ticketId=9e9ff004-86b0-44ad-b626-7d661f888319ABOUT THE ACTUARIES INSTITUTE:As the sole professional body for Members in Australia and overseas, the Actuaries Institute represents the interests of the profession to government, business and the community. Actuaries assess risks through long-term analyses, modelling and scenario planning across a wide range of business problems.This unrivalled expertise enables the profession to comment on a range of business-related issues including enterprise risk management and prudential regulation, retirement income policy, finance and investment, general insurance, life insurance and health financing.Find out more about actuarieshttps://www.actuaries.asn.auhttps://linktr.ee/ActuariesInstituteFollow the Institute of Actuaries on our social channels;LinkedIn: https://www.linkedin.com/company/792645/Facebook: https://www.facebook.com/pages/Actuaries-Institute/183337668450632Instagram: https://www.instagram.com/ActuariesInstTwitter: https://www.twitter.com/ActuariesInst

The Actuaries Institute recently launched its latest Green Paper, introducing the Australian Actuaries Home Insurance Affordability (AAHIA) Index.Affordable insurance is a key part of ensuring resilient communities.The paper, written by actuaries Sharanjit Paddam, Calise Liu and Saroop Philip, highlights that one million Australian homes (approximately 10%) spend more than four weeks of their gross annual income on home insurance, classified as vulnerable on the AAHIA Index. These vulnerable households are concentrated in the Northern Territory, Queensland and Northern NSW.Affordability pressure is projected to intensify with climate change, and the impact will be greater for these already vulnerable households. The paper presents results under both a low and high emissions scenario.Policy solutions to address home insurance affordability and the socioeconomic inequities of climate change are wide-ranging and include multiple stakeholders.Prior to the paper's launch, Sharanjit Paddam and Calise Liu joined the Actuaries Institute podcast to discuss the key points of the Green Paper.GREEN PAPER: https://actuaries.asn.au/public-policy-and-media/thought-leadership/thought-leadership/home-insurance-affordability-and-socioeconomic-equity-in-a-changing-climateTRANSCRIPT: https://actuaries.logicaldoc.cloud/download-ticket?ticketId=e5faa1a5-ffd7-4fad-82d3-e225cf688052ABOUT THE ACTUARIES INSTITUTE:As the sole professional body for Members in Australia and overseas, the Actuaries Institute represents the interests of the profession to government, business and the community. Actuaries assess risks through long-term analyses, modelling and scenario planning across a wide range of business problems.This unrivalled expertise enables the profession to comment on a range of business-related issues including enterprise risk management and prudential regulation, retirement income policy, finance and investment, general insurance, life insurance and health financing.Find out more about actuarieshttps://www.actuaries.asn.auhttps://linktr.ee/ActuariesInstituteFollow the Institute of Actuaries on our social channels;LinkedIn: https://www.linkedin.com/company/792645/Facebook: https://www.facebook.com/pages/Actuaries-Institute/183337668450632Instagram: https://www.instagram.com/ActuariesInstTwitter: https://www.twitter.com/ActuariesInst

Takaful insurance has witnessed a remarkable rise throughout Southeast Asia in recent times. On a global scale, the takaful insurance market is worth an estimated US$55 billion and is expected to grow by a further 14% between 2022 and 2028.But, what is takaful insurance? How is it different to traditional insurance products? Is it likely to emerge in the Australian insurance space?To discuss these questions and more, actuaries and takaful experts Peter Tan (Chief Operating Officer, RGA – Asia) and Aiza Benyamin (Partner, Actuarial Partners Consulting) join Yan Sun (Head of Solutions, Resolution Life) on the Actuaries Institute Podcast.TRANSCRIPT: https://80.211.53.10/download-ticket?ticketId=7c8b813c-8ced-46ba-86fb-cdf28bd28803ABOUT THE ACTUARIES INSTITUTE:As the sole professional body for Members in Australia and overseas, the Actuaries Institute represents the interests of the profession to government, business and the community. Actuaries assess risks through long-term analyses, modelling and scenario planning across a wide range of business problems.This unrivalled expertise enables the profession to comment on a range of business-related issues including enterprise risk management and prudential regulation, retirement income policy, finance and investment, general insurance, life insurance and health financing.Find out more about actuarieshttps://www.actuaries.asn.auhttps://linktr.ee/ActuariesInstituteFollow the Institute of Actuaries on our social channels;LinkedIn: https://www.linkedin.com/company/792645/Facebook: https://www.facebook.com/pages/Actuaries-Institute/183337668450632Instagram: https://www.instagram.com/ActuariesInstTwitter: https://www.twitter.com/ActuariesInst

The potential uses of artificial intelligence (AI) expand on a near-daily basis. And throughout his influential actuarial career to date, Chris Dolman has researched the vast possibilities of AI and how it can be used in an ethical manner. Chris joins Meg Yang on the Driven by Data podcast to discuss his background as an actuary, his extensive AI research, and the benefits and the pitfalls of AI.Tune in for the latest in the world of data analytics as experts from within and beyond the actuarial profession join Meg Yang for exclusive interviews.Chris Dolman:Chris Dolman is currently Director, Data and Algorithmic Ethics at IAG, helping to ensure that modern decision-making algorithms and other advanced uses of data are designed and implemented in an ethical, responsible and thoughtful way.Prior to this, Chris held a variety of senior management positions in the insurance industry and consulting, in Australia and the UK. Chris is a Fellow of the Actuaries Institute, a Gradient Institute Fellow and an active member of the Actuaries Institute’s Data Analytics and General Insurance Practice Committees.TRANSCRIPT: https://actuaries.logicaldoc.cloud/download-ticket?ticketId=6e68aedd-9373-43e8-8d9b-914eb95ddda8ABOUT THE ACTUARIES INSTITUTE:As the sole professional body for Members in Australia and overseas, the Actuaries Institute represents the interests of the profession to government, business and the community. Actuaries assess risks through long-term analyses, modelling and scenario planning across a wide range of business problems.This unrivalled expertise enables the profession to comment on a range of business-related issues including enterprise risk management and prudential regulation, retirement income policy, finance and investment, general insurance, life insurance and health financing.Find out more about actuarieshttps://www.actuaries.asn.auhttps://linktr.ee/ActuariesInstituteFollow the Institute of Actuaries on our social channels;LinkedIn: https://www.linkedin.com/company/792645/Facebook: https://www.facebook.com/pages/Actuaries-Institute/183337668450632Instagram: https://www.instagram.com/ActuariesInstTwitter: https://www.twitter.com/ActuariesInst

With NAIDOC Week kicking off next week, it’s a time to celebrate and recognise the history, culture, and achievements of Aboriginal and Torres Strait Islander peoples. It’s also a time to reflect on these significant cultures and how their stories can be used to empower us in our professional and personal lives. To help us improve our understanding, Clare Hughes from the Institute's Public Policy and Professionalism team sat down with two great guests to talk about the Institute's Indigenous Engagement Plan and their connections with indigenous Australian culture. Guests include Christa Marjoribanks, EGM Product Pricing and Governance at IAG andKate Lyons, Group Head of Sustainability at QBE Insurance. In this episode, the three talk about their journeys in the Northern Territory on the Larapinta Trail, learning and understanding indigenous Australian culture, and much more.NOTE: In this podcast, Kate Lyons and Christa Marjoribanks make reference to a book titled 'Red Emu'. The correct title of this book is 'Dark Emu'.TRANSCRIPT: https://actuaries.logicaldoc.cloud/download-ticket?ticketId=4b374206-53fc-4e31-bc39-f73d7a4449beABOUT THE ACTUARIES INSTITUTE:As the sole professional body for Members in Australia and overseas, the Actuaries Institute represents the interests of the profession to government, business and the community. Actuaries assess risks through long-term analyses, modelling and scenario planning across a wide range of business problems.This unrivalled expertise enables the profession to comment on a range of business-related issues including enterprise risk management and prudential regulation, retirement income policy, finance and investment, general insurance, life insurance and health financing.Find out more about actuarieshttps://www.actuaries.asn.auhttps://linktr.ee/ActuariesInstituteFollow the Institute of Actuaries on our social channels;LinkedIn: https://www.linkedin.com/company/792645/Facebook: https://www.facebook.com/pages/Actuaries-Institute/183337668450632Instagram: https://www.instagram.com/ActuariesInstTwitter: https://www.twitter.com/ActuariesInst

The superannuation industry is currently facing major legislative changes alongside other financial service industries. From ‘Your Future, Your Super’ reforms to the recent retirement income covenant, actuaries working in super are now having to manage legislative changes at the same time focus on improving customer and member outcomes.In our latest episode, we sat down with three prominent actuaries working in superannuation to get further insights and gain a better understanding of the challenges those in the industry are currently facing.Speakers:Naomi Edwards is an actuary and a professional company director. Following an executive career with Trowbridge Consulting and then Deloitte, Naomi became involved with the wider actuarial fields, including acting as adviser to the Australian Greens on various projects and advising a wide group of environmental organisations.Naomi then embarked on a career as a company director, chairing the listed Australian Ethical Investments and sitting on the boards of funds managers, ASX listed companies and superannuation funds. She is currently Independent Chair of Spirit Super where she has led the fund through three mergers in the last four years. She joined the Council of the Actuaries’ Institute in January 2020.Andrew Boal is an experienced financial services professional who specialises in providing actuarial and strategic consulting advice to leading companies and superannuation funds. During his career, Andrew has driven research and public policy in various areas of interest, including retirement adequacy, retirement income products and solutions, member disclosure and advice, member engagement and digital solutions, governance and risk management. Andrew is also regular speaker at industry events such as the annual ASFA conference and the Conexus Post-Retirement Conference. Christine Li is a Superannuation Product Analyst at Spaceship. She is also currently Secretary to the Institute’s Superannuation and Investments Practice Committee and hosts the That's Super podcast series. Christine is involved in helping the younger generation be more engaged in their superannuation and improving their financial literacy.ABOUT THE ACTUARIES INSTITUTE:As the sole professional body for Members in Australia and overseas, the Actuaries Institute represents the interests of the profession to government, business and the community. Actuaries assess risks through long-term analyses, modelling and scenario planning across a wide range of business problems.This unrivalled expertise enables the profession to comment on a range of business-related issues including enterprise risk management and prudential regulation, retirement income policy, finance and investment, general insurance, life insurance and health financing.Find out more about actuarieshttps://www.actuaries.asn.auhttps://linktr.ee/ActuariesInstituteFollow the Institute of Actuaries on our social channels;LinkedIn: https://www.linkedin.com/company/792645/Facebook: https://www.facebook.com/pages/Actuaries-Institute/183337668450632Instagram: https://www.instagram.com/ActuariesInstTwitter: https://www.twitter.com/ActuariesInst

Housing affordability and the growing inequality around buying a home was one of the big issues expert speakers tackled at this year’s All-Actuaries summit.Speakers dived into the nuances and specifics of some of the biggest challenges we face as an industry and as a society.In this episode of the Actuaries Institute Podcast, we gathered some of the key Summit speakers who touched on this topic. This episode covers the current housing situation, affordability among the younger generation, flow-on effects such as lower fertility rates and homelessness, shifts in sentiment across industries, possible solutions to relieve affordability stress, and much more.Speakers:Anthony Asher is currently a member of the Actuaries Institute Board and the Retirement Strategy Group, and the Convenor of the Retirement Incomes Working Group.Richard Lyon is a recently retired actuary with more than 40 years’ actuarial practice under his belt – mostly in life insurance. He’s the co-editor and co-author of the textbook that teaches students about the actuarial approach to problems. Richard has served on the Institute’s Council and on many of its committees, task forces, and working groups.Hugh Miller is a principal at Taylor Fry, where he has worked for 15 years. Over the past five years, he has been working almost exclusively in government analytics, modelling in sectors such as welfare, housing, homelessness, disability and suicide prevention. He holds a PhD in statistics, has a keen interest in actuarial research, is part of the Institute’s Public Policy Council Committee, and is also the Data Analytics Editor of Actuaries Digital. TRANSCRIPT: https://actuaries.logicaldoc.cloud/download-ticket?ticketId=d63d7f38-6b35-45db-a865-fca79a6b3885 ABOUT THE ACTUARIES INSTITUTE:As the sole professional body for Members in Australia and overseas, the Actuaries Institute represents the interests of the profession to government, business and the community. Actuaries assess risks through long-term analyses, modelling and scenario planning across a wide range of business problems.This unrivalled expertise enables the profession to comment on a range of business-related issues including enterprise risk management and prudential regulation, retirement income policy, finance and investment, general insurance, life insurance and health financing.Find out more about actuarieshttps://www.actuaries.asn.auhttps://linktr.ee/ActuariesInstituteFollow the Institute of Actuaries on our social channels;LinkedIn: https://www.linkedin.com/company/792645/Facebook: https://www.facebook.com/pages/Actuaries-Institute/183337668450632Instagram: https://www.instagram.com/ActuariesInstTwitter: https://www.twitter.com/ActuariesInst