Arab Actuarial Conference 2024

With changing consumer habits, new insurance pricing methods are needed. This panel will discuss current pricing challenges, including the impact of new models of mobility, collaborative consumption and data sharing.

This panel will discuss the prospects and future trends of the actuary profession in Arab markets, taking into account recent developments such as the implementation of the ‘IFRS 17. It will discuss key skills for Arab actuaries to stay relevant and seize growing opportunities. These topics will allow Arab actuaries to discuss in depth the ramifications of IFRS 17 as well as the work opportunities available to them in the ever-changing Arab market.

This panel will discuss the possibilities offered by AI in the field of risk modeling and forecasting, as well as the new skills necessary for players in the sector to adapt to this technological development. The session will cover new technologies (such as AI and Chat GPT) that might impact the future of insurance industry.

With climate change posing new challenges in weather-related loss forecasting, this panel will explore the actuary's role in identifying and climate risk assessment, as well as the resulting innovative insurance solutions.

Pension, social insurance, and social security funds managed by government agencies across MENA region and around the world are plagued with chronic actuarial deficits for several years, if not decades. From an actuarial perspective, what is the extent of risks that might await such funds if the situation continues? Are there plausible and workable solutions? What ideas do actuaries offer to governments in this regard? Can the insurance/reinsurance industry be part of the solution?

Age, as a rating factor for insurance products, is slowly losing its undisputed place as a leading rating factor. Some researchers view it as a disease with cause and effect; a treatable and reversable disease. If they are right, a correct measure of your biological age can be a better predictor of your health and might even replace chronological age completely. Some specialists believe that instead of looking at the genes themselves, insurance companies can look at gene expression. Gene expression is proteins that your genes make under a certain environment, and gene expression is up to you mostly, and not your parents. Under such an insurance scheme a member can reduce his premium if he changes his behavior. As such, older people might pay less than younger people if they are healthy. Hence, we ask: what is the effect of improved health indices on and healthcare costs? Others look at the patient journeys and interactions with the Health and Aged Care sectors to quantify their effects. And finally, are we prepared to cover a future pandemic?

As the frequency and severity of cyber events increases, 1he cyber insurance world is undergoing profound changes. Cybersecurity professionals must know what security changes are being required by cyber insurance companies, and why those changes require early communication and notification throughout their entire organization. Every organization seeking cyber insurance wants not only to qualify for a policy, but also demonstrate they have the technologies in place necessary to obtain the most favorable premium. So, what does it take to meet the requirements of a cyber insurer? Finally, what models/ parameters are actuaries using to price cyber risks insurance?