Date 14/06/2022
Time 3:00 pm to 4:00 pm
Venue: Microsoft Teams Webinar
CPD Hours: 1.0
Member Charge: 0
Non-Member Charge: 0
Max No. Attendees:
Invitation Type: Members only
Sign up link: Registration Closed
Sign Up Start Date: 12/05/2022
Sign Up End Date: 10/06/2022
Write-Up File Download:
Presentation Slides: Not available.
Synopsis: As 2023 draws near, most insurers are on the final stretch to have their IFRS17 implementation completed. In this presentation, we take a look at how different insurers have gone about their IFRS17 roadmap over the past few years in Asia, which were the success stories, what were the lessons learnt, how challenges were overcome, and what are the key steps remaining. We will also discuss the influence from IFRS17 to the future of transformation with our industry.

The presentation will cover the early stages of IFRS17 program design back 3-4 years ago when the standards were still being finalized; then moving onto financial impact and business impact analyzes whereby the IFRS17 concepts were first introduced to senior management of insurers; then moving onto defining portfolios in the IFRS17 categories and requirements; before the data, modelling and assumptions setting were in place. Lastly, and where most insurers are still working on, the testing, transition and parallel run phases. We will discuss how actuaries have been involved and interacting with accountants and data technology specialists in all parts of the journey.

The presentation will draw on experiences from different type of insurers: Life Insurance, General Insurance, Reinsurance, whilst also observing multi-national programs whereby insurers have subsidiaries throughout Asia.

Featured Speakers

Louis Lee

Insurance Consulting Partner, Deloitte China

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Ka Hei Choi

Insurance Consulting Partner, Deloitte China

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  • Louis Lee

    Insurance Consulting Partner, Deloitte China

    Louis is a qualified actuary and a Partner in Deloitte’s Actuarial and Insurance Solution practice based in the Hong Kong office, where leads the practice for the General and Health Insurance sector. He joined the firm in 2020, and has more than 20 years experience in the insurance and reinsurance industry across Asia and Australia, for both General and Life & Health Insurance companies.

    Louis was the Asia Pacific CFO for a top 5 global reinsurer. He led the operations on financial reporting, planning, actuarial reserving, value of new business, capital management, IFRS17, and finance transformation.   Louis has worked for 2 large General Insurance companies in Australia on pricing and product proposition, and has extensive experience in leading the price optimization framework for personal lines products including Motor Insurance, CTP, Home, and Travel Insurance.  He led a team to execute end-to-end price optimization techniques comprising of competitor analysis, risk models, demand elasticity models, new/renewal models, and retro-fitting optimized rates into a structure.

    Louis is currently the Certifying Actuary for a number of General Insurance companies in Hong Kong and South East Asia. In addition to actuarial reserves, Louis is engaged on Risk Based Capital and ORSA.

  • Ka Hei Choi

    Insurance Consulting Partner, Deloitte China

    Ka Hei is a Partner of Deloitte Actuarial Practice based in Hong Kong. He joined the firm in 2007 and has spent 5+ years working overseas covering the US, UK and European markets. His actuarial specialism also includes complex asset modelling, business planning & projections, and asset-liability management.

    Ka Hei is a specialist of finance transformation. He has extensive experience on transforming enterprise finance system to adapt regulatory changes such as Solvency II and IFRS 17.  He has been the actuarial lead of multiple global finance transformation programme, ranging from global actuarial system moderisation to UK with-profits fund E2E system & process reform.

    Ka Hei is currently leading the IFRS17 program delivery for one of the major life insurers in Hong Kong. He has been the actuarial solution lead on multiple IFRS17 implementation programs across Asia and also been functional testing lead for the IFRS17 implementation program of a Pan-Asian insurer.