In November, the Pakistan Society of Actuaries (PSOA) held a conference entitled International Issues, Trends and Professionalism. Speakers included Dr Dermot Grenham of the UK's Government Actuary's Department, representing the IFoA, and PSOA members.
Samee ul Hassan provided an overview of the new retirement paradigm in Pakistan and the implications of increasing life expectancy; Mohammed Ali Ahmed discussed how insurance will have to evolve to keep up with IT developments, including artificial intelligence; and Muhammad Hussain Boricha gave a summary of the regulatory environment for health insurance, including microinsurance, comparing Pakistan with India and Malaysia.
Grenham gave a summary of developments in the UK in social security, pensions and insurance. He also ran an interactive session on professionalism, using IFoA case studies.
Before the conference, Grenham and PSOA president Nauman Cheema gave a presentation to a group of 100 students interested in actuarial careers. Cheema pointed out the challenges they would face, while Grenham outlined the IFoA's Certified Actuarial Analyst qualification and presented a session on the actuarial control cycle. Grenham also attended a meeting with representatives from insurance companies, the PSOA council and the insurance regulator to discuss how the IFoA could support the development of the profession in Pakistan.
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