An Actuary’s Journey to a Meaningful SDGs Future

Exploring Sustainable Development Goals (SDGs) from the Actuarial Perspectives forum involves using numbers as tools for positive change through complex calculations, paving the way for a healthier planet and a more equitable society. This is the exciting intersection of Actuarial Science and the United Nations Sustainable Development Goals (SDGs).

The Asia Pacific University of Technology & Innovation (APU) Actuarial Science Club (ASC) collaborated with the Institute and Faculty of Actuaries (IFoA) to present a lively session titled ‘Exploring Sustainable Development Goals (SDGs) from Actuarial Perspectives’ on 14th December 2023.

This event brought together industry leaders, aspiring actuaries, and passionate advocates for a sustainable future at the state-of-the-art APU campus in Kuala Lumpur.

Prof. Dr. Ho Chin Kuan, Vice Chancellor of APU, gave an encouraging speech to kick off the event. His words set the stage for a day of insightful discussions, highlighting the critical role that actuaries play in tackling complex issues such as climate change, poverty, and inequality.

The event was then continued with a forum session moderated by Mr. Muhammad Fadhirul Anuar Mohd. Azami, Senior Lecturer at the School of Mathematics, Actuarial and Quantitative Studies (SoMAQS).

The heart of the forum lay in the panel discussion, with renowned industry leaders giving their invaluable perspectives on how actuarial expertise can be used to achieve the SDGs.

Mr. Junaid Iqbal, AIA Berhad. Director of Sustainability (ESG) discussed how actuaries can identify and manage environmental, social, and governance (ESG) risks, ensuring responsible and sustainable business practices.

Mr. Yew Khuen Yoon, Director of Actuarial Services at PWC Malaysia, emphasised actuaries’ role in designing innovative insurance solutions that bridge the protection gap and promote financial inclusion.

Ms. Yip Shin Li, Head of Financial Risk at Allianz General Insurance Company (Malaysia) Berhad., demonstrated the effectiveness of actuarial modelling in mitigating climate-related risks and building resilient communities.

The discussion was not just about numbers; it was about human stories, real-world challenges, and the unwavering determination to make a difference.

The panellists openly shared their own experiences overcoming hurdles and navigating the ever-evolving landscape of sustainability.

The forum, nevertheless, was not only for experienced professionals but also for future generations of actuaries to visualise their path to a sustainable future.

The speakers provided invaluable advice, stressing the importance of lifelong learning, ethical decision-making, and a genuine passion for creating positive change.

Some of the students also participated in the Q&A session before the forum session ended, and our participants had some important takeaways from this session.

After a short break, the event continued with an introduction to IFoA by Ms. Shaun Lee, Market Support Specialist, and Ms. Prisheeni Prakas, Regional Manager of Southeast Asia at IFoA.

The audience was also introduced to the Student Ambassador Programme, which aims to benefit actuarial science students.

It continued to the prize giving for the LinkedIn Race, which is a monthly race between participants on LinkedIn until February 2024 and was introduced by Tan Jun Hong, Assistant Operations Manager of ASC.

Ms. Prisheeni presented the certificates of achievement to Peyton Ong and Lim Yee Ching, the winners of the second and third LinkedIn races.

In addition, Lim Ming Jun, Lim Siaw Ting, Yap Huai Qian, Sherilyn Lim, and Chai Jia Juin awarded with the IFoA Foundation China & Southeast Asia Awards (CSEA) and Sir Edward Johnson Awards (SEJ) for the top five students and best academic student from university.

The APU ASC committee members of 2023 were also recognised for their remarkable efforts in the LinkedIn Race, a one-of-a-kind competition aimed at encouraging actuarial science students’ engagement and information sharing.

Lee Jay Wyn, Tan Jie Fei, Kee Zi Ching, William Ling Din Yeo, Thea Ee Shuen, Ethan Choo Lit Eng, Wong Xiao Hui, Lim Yee Ching, Tey Jin Hwei, Wong Yee Woon, Tan Jun Hong, Wong Jia Jian, Goh Yen Rui, and Minerva Witama Putri Widjaja was awarded by IFoA.

The ‘Exploring Sustainable Development Goals (SDGs) from Actuarial Perspectives’ forum was more than just an event; it was a vibrant tapestry woven from knowledge, passion, and a shared commitment to a better tomorrow.

It brought together the expertise of seasoned professionals, the enthusiasm of aspiring actuaries, and the unwavering support of institutions like IFoA and APU.

As the final curtain fell, one thing was clear: the future of sustainable development hinges on collaboration. By harnessing the power of numbers and channelling their unwavering dedication, actuaries can play a pivotal role in building a world where sustainability is not just a goal, but a lived reality.

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