Sally Tsui

Discover how AINSURCO combines actuarial excellence with IT innovation to drive success in the UK insurance industry. Get in touch with Neha Agarwal, FIA, or Rishav Bajaj, FIA, CERA  for more information. #InsuranceConsultants #UKInsurance #Ainsurco

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◻ Empowering Female Actuaries: Round table Roundup! ◻ Yesterday, Oliver James hosted another successful "Empowering Female Actuaries" round table session at One Lombard, chaired by the distinguished Jenny Segal—an actuary, author, and NED who is featured in The Actuary Magazine this month! We were delighted to host an inspiring group of professionals, including Tripat Riyait, Karina L., Orla Ward FIA, Sarah O'Sullivan, Tasneem Harnekar, and Abigail Fairhurst, along with my colleagues Laura Sharkey and Naomi McGee. Our discussions covered critical topics such as the Authority Gap, male allyship, and the importance of positive role models in the industry. Positive role models come in all forms, whether it's a senior stakeholder being vulnerable and discussing mental health, or a male stakeholder promoting the benefits of taking their six-month paternity leave on their career and family. It was noted that females are more likely to make changes to their career with a view of family planning, well in advance of their male counterparts. They often ask themselves, "Is this the place where my career can flourish as a parent?" Many of the areas we discussed pertain to workplace cultures and the improvements that can be made. (Jenny has written a wonderful book on this topic: Building Better Workplace Cultures!). Women are sometimes given conflicting advice about how to progress their careers in a male dominated industry, some being told to "behave like a man", with the effect then as being seen as "too bossy" rather than seen as being "authoritative". We rounded off by talking about the importance of bringing one's authentic self to work and seeking connection through friendships, support networks, and networking groups. However, it was noted that networking events should be more inclusive, allowing those with evening caring responsibilities to attend as well. One important takeaway: please don't ask a parent returning to the office how they feel "returning to work," as they haven't stopped working while on leave—they've just had a different manager 😉 , and parental leave isn't just a "nice break." #EmpoweringWomen #Actuaries #Leadership #DiversityAndInclusion #WorkplaceCulture #MaleAllyship #PositiveRoleModels #Networking #WorkLifeBalance

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In early April, the AI Summit in Singapore brought together more than 50 actuaries from 17 countries to discuss AI's transformative impact on the actuarial profession. 🤖 Sponsored by the International Actuarial Association (IAA), the event highlighted how AI is creating new roles and solutions for actuaries. Explore key takeaways from the summit in a new article by Jing Lang, FCIA, to learn how the IAA's AI Task Force is gearing up the profession for the future. And, with interviews featuring AI Task Force members and FCIAs Tim Bishop and Bernice Lim, discover the future implications of AI on the industry. 💡 Matt Bartley, FSA, FCIA #ActuarialExcellence #AI #ArtificialIntelligence #ProfessionalDevelopment #AIforActuaries

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🚨 Weekly Life Actuarial Readings 🚨 Here is one of the top trends and topics life actuaries are focusing on this week: 🔹 Longevity Risk and Financial Planning The Actuaries Longevity Illustrator just got a makeover! This tool now offers a more user-friendly mobile version, helping retirees and actuaries alike assess the impact of longevity on retirement plans. A must-use for anyone working in retirement planning! https://lnkd.in/dzdHYaBW 🌍 Keep up with these insights to stay ahead of the curve in life insurance innovation! #ActuarialScience #LifeInsurance #LongevityRisk #RetirementPlanningg

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Big news in the UK car insurance market: Aviva's offer to acquire Direct Line Group (DLG) has been accepted. This merger unites the second and third largest players, creating an entity nearly twice the size of its nearest rival. The result? Almost a quarter of all UK car insurance policies will now be underwritten by a single provider. This development raises important questions about competition in the market. In the FCA’s final report on Pricing Practices - that introduced the General Insurance Pricing Practices (GIPP) reforms - “competition” was mentioned 55 times, underscoring its vital role in delivering better outcomes for consumers. Yet here we are, three years on, and instead of fostering more customer choice, the market seems to be moving in the opposite direction. What does this mean for the future of car insurance in the UK? Will fewer, larger players ultimately benefit consumers - or does this signal a worrying trend for competition and pricing? I’d love to hear your thoughts.

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October marks Cyber Security Awareness Month, no better time to ensure your organisation is secure and resilient........ https://ow.ly/KAYp50TEr7N #CyberRisk #CyberThreat #OperationalResilience #WTWPerspective

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The skills needed for #insurance professionals are changing - and our Digital Minds delegates demonstrate what can be achieved when given the right opportunities by their future-focused organisations. For too long, #innovation has been seen as niche, but last week's Digital Minds Showcase proved otherwise as they brought innovation out into the open. Our fantastic Cohort 6 was populated by underwriters, claims experts, business analysts, engineers, product experts and much more. This group, hailing from a wide range of some of the biggest future-focused organisations from across the market, showed what can be achieved with dedicated support and the future-focused skills we work to develop; design thinking, curiosity, creative problem solving, leading to game-changing prototypes that could bring the market on in leaps and bounds. Here at EDII, over the last four years, we’ve seen 100s of insurance professionals thrive under the guidance of our team. They’ve thrown themselves into new challenges, learned new skills and built new and valuable relationships. Each time, we’ve been so proud to watch the teams come to life throughout the programme, presenting their ideas with enthusiasm, confidence and gusto. If we could bottle that attitude – it would surely be a recipe for success! Addressing some of the market’s greatest challenges, Cohort 6's fantastic teams focused on some of the biggest challenges facing insurance today, including: -           Resilience, skills and talent -           Global economic influences -           IoT and Sensor Technology -           Climate change -           AI in claims handling Stay tuned for a detailed dive into each next week. Congratulations to Elizaveta Zagarina, Kyle van der Boon, Mark Nevison, Duncan Betts, Adam Keith, Chris Conyard, @danielle knight, Danielle Elkin, Rob Cheetham, Jessica Haughey, Sarah More, David Holt, Ryan Cooper, Aidan Cox, Joe White, Alfred Salva, Pippa Merry Joshua Harris, Morgan White, Joseph H., Joanne Sandell, Adam Gillard, Adobea A., Heidi Burrows, Marcus Tighe-Jones, Nav Dhuti Jasmine Shell Caroline Bedford Hélène Stanway Paul Willoughby #DesignThinking #FutureFocus #ProfessionalDevelopment #Innovation

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In this Actuaries Institute article, we get to know one of MNC’s “Designer Actuaries”, Constance Shan a little better…

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The Increasing Demand for Health Actuaries: A Critical Role in Today’s Healthcare Landscape 🏥📊 As the healthcare industry undergoes rapid transformation, the role of actuaries is becoming increasingly vital. The demand for health actuaries is on the rise, driven by several compelling factors that highlight their critical expertise in navigating the complexities of health-related risks. One significant driver of this demand is the ongoing evolution of healthcare systems worldwide. 🌍 With the advent of value-based care models, health actuaries are essential in analyzing the financial implications of these changes. Their expertise enables healthcare organizations to assess and manage risks associated with patient outcomes, cost containment, and financial sustainability. By providing valuable insights based on robust data analysis, health actuaries help ensure that organizations make informed decisions that enhance patient care while maintaining fiscal responsibility. 💡 Additionally, as healthcare costs continue to soar, insurers and providers are looking for innovative ways to mitigate financial risk. 💸 Health actuaries utilize their skills in statistical modeling and predictive analytics to assess trends, manage reserves, and predict future healthcare costs accurately. Their ability to forecast the financial implications of chronic diseases, emerging health technologies, and demographic shifts is invaluable in an industry where uncertainty is the norm. Moreover, the rise of big data and advanced analytics in healthcare is creating new opportunities for actuaries. 📈 With access to vast amounts of health data, actuaries can employ sophisticated algorithms to identify patterns and risk factors, enabling healthcare organizations to tailor their services effectively. This data-driven approach not only enhances decision-making but also contributes to improved patient outcomes. 🤝 Finally, the COVID-19 pandemic has underscored the importance of health risk assessment. As healthcare systems globally adapt to the challenges posed by pandemics, actuaries are crucial in modeling potential scenarios and preparing for future health crises. 🌐 In conclusion, the increasing demand for health actuaries reflects their indispensable role in the evolving healthcare landscape. As organizations strive for innovation and sustainability, actuaries will continue to be at the forefront, shaping the future of health financing and management. For those considering a career in this field, the opportunities are not just abundant but also impactful, making it a rewarding path in today’s dynamic environment. 🚀✨ Please reach out to me for a private discussion if you are interested in knowing more about the Actuarial recruitment market! #ConnectedGroup #CGActuarial #stayconnected #healthactuary

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Hiscox USA is transforming their underwriting process. In Convr’s latest case study with Hiscox you can learn how Convr enables them to improve technical excellence in their underwriting, know more about their risks and more efficiently rate policies. Read about it here.

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Data and Artificial Intelligence are hot topics for insurance professionals 🔥 To learn about data science and AI techniques, check out this popular Introduction to Data Science & AI for Insurance course from the Chartered Insurance Institute and Southampton Data Science Academy. 📅 Course start date: 23 September 2024 Find out more: https://ow.ly/5alv50SJZ5U #CII #CPD #CIITraining #CIICourses #DataAnalytics #DataScience #AI #Insurance

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Data and Artificial Intelligence are hot topics for insurance professionals 🔥 To learn about data science and AI techniques, check out this popular Introduction to Data Science & AI for Insurance course from the Chartered Insurance Institute and Southampton Data Science Academy. 📅 Course start date: 23 September 2024 Find out more: https://ow.ly/5alv50SJZ5U #CII #CPD #CIITraining #CIICourses #DataAnalytics #DataScience #AI #Insurance

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As midsize UK companies face an increasingly complex risk landscape, we expect cell captives to become more popular https://ow.ly/nEBw50SZwyj #ASmarterWayToRisk #CaptiveInsurance #Captives #RiskManagement #WTWPerspective

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35% of the UK population currently have a life insurance policy. This support can come through various ways: namely lump sums or regular payments. But what are the main drivers behind people who get life insurance? What personal factors influence your policy? How much does it cost? Swipe below for all the relevant information. #lifeinsurance #insuranceuk #lifecover

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Aviva has managed to strengthen its exposure management capabilities through a partnership with Symfos. By using their software solution, Orchestra, the company has improved its ability to visualise risks and automate data processing. Karen Dayal, (pictured) Chief Underwriting Officer of Commercial Lines at Aviva, praised the new technology, stating: “As a business we’re always keen to enhance risk decisions, harness efficiencies, and embrace new technologies to stay innovative, and this is exactly what we’ve been able to achieve here.” Bao Cam, Managing Director and Founder of Symfos, commented on Aviva’s mission in the (re)insurance industry: “Our mission is to provide the (re)insurance industry with the best-in-class pricing and portfolio management solution through our Orchestra platform. Through the collaborative work in extending Orchestra with Aviva, we are one step closer to achieving our goal. Read the full story here 👉 https://lnkd.in/e657aidd #InsurtechInsights #InsuranceNews #Partnerships

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