THE ACTUARIAL PROFESSION IN AGE OF artificial intelligence AND ESG
Overview
This session delves into the transformative impact of Artificial Intelligence (AI) and Environmental, Social, and Governance (ESG) factors on the actuarial profession. It explores how AI is revolutionizing traditional actuarial practices, from risk assessment and pricing to fraud detection and process automation, while also addressing the growing importance of ESG considerations in risk management. The session highlights the role of actuaries in navigating climate risks, sustainability challenges, and regulatory frameworks, emphasizing their contribution to building resilient financial systems in an era of rapid technological and environmental change.
Target audience
- Actuaries and Risk Professionals
- Insurance and Financial Industry Leaders
- Academics and Researchers
- Students and Early-Career Professionals
Time : 09.00 – 13.00 (IST)
Venue : Auditorium – Student Service Center, FAculty of science, university of Colombo, Sri lanka
Jointly Organizing by
Faculty of Science
Department of Mathematics
University of Colombo
Actuarial Association of Sri Lanka
Financial Stability and Risk Management
This segment focuses on the critical role of solvency requirements and risk-based capital frameworks in ensuring financial stability, particularly during economic crises. Using Sri Lanka’s insurance industry as a case study, it explores how extreme value theory, diversification, and hedging strategies help insurers manage liability risks and withstand financial shocks. The discussion underscores the importance of robust regulatory measures and actuarial expertise in building resilient financial systems.
Navigating Climate Risk and Sustainability: An Actuarial Perspective
With environmental risks topping global concerns, this highlight delves into the actuarial profession’s role in addressing climate change, pollution, and biodiversity loss. It examines how actuaries can leverage their expertise in risk management to help global leaders navigate sustainability challenges. The session emphasizes the integration of climate risk into actuarial models and the profession’s responsibility to act in the public interest for a sustainable future.
Revolutionizing Insurance Through AI-Driven Innovations
This segment explores how AI is transforming the insurance industry, from enhancing predictive analytics and underwriting processes to automating claims and fraud detection. It highlights the use of advanced techniques like machine learning, deep learning, and Bayesian inference in optimizing pricing models, customer segmentation, and operational efficiency. The discussion showcases how AI-driven innovations are enabling insurers to make data-driven decisions and develop innovative solutions for complex challenges.
Resourece Persons
Ms. Devindi Samaranayaka
Milliman
Mr. Theodore Kotelawala
Union Assurance PLC
Currently serving as Manager – Pricing at Union Assurance PLC, he specializes in pricing, product development, and data analytics. With a career spanning equity research, transaction advisory, and actuarial roles, he brings diverse expertise. He holds a BSc in Mathematics and Economics from LSE, an MSc in Business Analytics from RGU, and a Master of Financial Economics from the University of Colombo. Currently pursuing an MSc in Actuarial Science, he is passionate about data science and AI, having developed a GPT tailored for actuarial tasks, aiding in work, academics, and research. His work blends technical acumen with innovative solutions.
Ms. Shashini Abeygunawardena
Scyne Advisory
Shashini has eight years of experience consulting for clients within the financial sector across Asia Pacific. As a consultant, she leverages her actuarial skills to help clients solve strategic, business, and regulatory problems and manage risks.
At Scyne, she supports the public sector and public purpose clients in identifying and managing risks associated with climate change as well as designing and implementing ESG strategies and incorporating sustainability principles into decision-making.
Shashini is a sustainability advocate who contributes toward addressing issues such as climate change, education, employment, and inequalities through her professional, volunteering, and personal life.
Registration
Contact details
Department of Mathematics
University of Colombo
liyanage@maths.cmb.ac.lk
+94767241657