Bridging theory and practice

Published on: 29-Jun-2016

Earlier this month – 16 and 17 June 2016 – Nanyang Business School’s (NBS) Insurance Risk and Finance Research Centre (IRFRC) hosted the 5th Annual Insurance Risk and Finance Research Conference at the Goodwood Park Hotel, Singapore. Led by Shaun Wang, NBS’ Professor of Banking and Finance and Director of the IRFRC, the theme for the conference was “Emerging Risks and Emerging Markets: The New Actuarial Frontier”.  It provided opportunities for professionals and academics from the insurance and finance industries to exchange ideas on current developments.

In his welcome address, NBS Associate Dean of Research and Professor of Information Technology and Operations Management S Viswanathan said, “Asia is experiencing rapid economic growth, and at the same time, the region is riddled with several pressing issues including an ageing population, climate change, and cyber security. Academic research coupled with professional expertise can help the insurance industry to play a key role in tackling all these issues.”

According to Group CEO of AIA Mr. Mark Tucker, lifestyle choices and diseases today are responsible for over 60 per cent deaths worldwide, leading to a pressing need for designing incentives for people to adopt healthy lifestyles. AIA Vitality – a wellness programme that motivates participants by offering benefits for healthy choices is an example of an initiative that encourages healthy living through financial incentives.

Michael J. Morrissey, CEO of the International Insurance Society, announced the Insurance Development Forum, which is a joint initiative with the United Nations and the World Bank. Leaders from the Geneva Association and the Institute and Faculty of Actuaries also presented their research initiatives at the conference. NBS’ Canon Professor of Finance Kang Jun-Koo was recognised for his work and leadership as the former executive director of the Insurance Risk and Finance Research Centre.

A platform for dialogue and exchange of ideas, the conference drew top industry practitioners and the brightest minds in academia from 14 countries across the world. The Annual Insurance Risk and Finance Research Conference represents a global effort to bridge theory and practice in actuarial science and insurance research.