28 TH NOVEMBER 2014 NAIROBI SAFARI CLUB EZEKIEL MACHARIA

AGENDA 1. Specialization Areas 2. Role of an Actuary 3. Focus on Kenya and East Africa 4. Role of TASK 5. Using New Technology 2

SPECIALIZATION AREAS  Health  Life  Pension  Property & Casualty  Risk Management  Investment 3

ROLE OF AN ACTUARY  Technical Provisions  Pricing, Rating & Product Development  Sensitivity & Stress Testing  Data Quality  Advise on Investment & Reinsurance  Report on Solvency  Risk Management  ……..more 4

FOCUS ON KENYA AND EAST AFRICA  Insurance Penetration of 3.5% (huge opportunity)  Technology – Mobile Money & Cloud Computing (easy access)  Consolidation of East Africa Federation – 120m lives need actuaries  Frontier Markets have the highest growth – Kenya recorded 2 nd highest growth in Insurance in 2014  Untapped Areas – Banking & Risk Management 5

ROLE OF TASK  Professional body for actuarial professions in Kenya  Increased activity in 2015 and beyond  New look and feel  Supporting the student body  Focus on technical support 6

USING NEW TECHNOLOGY  Access to the latest technology at your fingertips  Cognitive Computers – IBM Watson  Microsoft Office vs Google/Oracle/Apps  Rise of Freelance Opportunities – connected world  Free Statistical/Actuarial tools – R, STATA, etc 7

QUESTIONS ? 8