In the complex world of insurance, consumer behavior plays a critical role in shaping purchasing decisions. The decision-making process involves navigating emotional factors, cognitive biases, and uncertainties that can influence how individuals assess their insurance needs. For instance, a parent might choose life insurance driven by love for their family, while fear of financial instability...

In recent years, the term *social inflation* has gained prominence, particularly within the insurance industry. While typically associated with property and casualty (P&C) lines, its impact is now extending to life insurance. Social inflation refers to rising claim costs driven by litigation, societal changes, and evolving consumer expectations—often outpacing traditional economic inflation. As life insurers...

SHMA Consulting had the honor of hosting two prominent figures in the global actuarial profession—Paul Sweeting, President-Elect of the Institute and Faculty of Actuaries (IFOA), and Ronald T. Kozlowski, CAS Asia Ambassador. Their visits, just days apart, provided our team with invaluable insights into the actuarial field, with each leader offering unique perspectives on the...

Ronald T. Kozlowski, the Casualty Actuarial Society (CAS) Asia Ambassador, recently embarked on a visit to three of Pakistan’s most prestigious universities: the Institute of Business Administration (IBA), University of Karachi (KU), and the Institute of Business Management (IoBM). His visit facilitated through a partnership with SHMA Consulting, aimed to inspire and guide future actuaries...

SHMA was proud to be an official sponsor of the Pakistan Society of Actuaries (PSOA) Conference 2024, which took place on September 24th, 2024, at the Mövenpick Hotel in Karachi. The event brought together a distinguished group of industry leaders, innovators, and experts to explore the “Insurance Landscape of Tomorrow” and discuss key challenges, opportunities,...

On September 5, 2024, SHMA hosted an unforgettable Sports Day at Urban Turf, where employees came together for an evening filled with action, camaraderie, and healthy competition. From 6:00 PM to 11:00 PM, the venue buzzed with excitement as teams battled it out in four high-energy sports: Cricket, Badminton, Volleyball, and Futsal. It was a...

On July 25th, 2024, we gathered for our much-anticipated Mango Day—an event that perfectly combined the joys of summer with everyone’s favorite tropical fruit. The afternoon was filled with delicious mango treats, friendly competition, and plenty of sunshine, creating a day to remember from 3 pm to 6 pm. Mango Delights: Shakes and Ice Cream...

In today’s rapidly evolving business environment, data has become the driving force behind strategic decisions, innovation, and growth. Yet, as organizations gather massive amounts of data, the ability to manage it effectively becomes increasingly complex. Traditional data management approaches often fall short, creating bottlenecks that hinder progress. To keep pace, companies need an agile approach...

Super crunching isn’t just a tech buzzword; it’s a transformative approach to analysing vast data sets, with applications in numerous fields—from healthcare advancements to personalised marketing strategies. In the insurance industry, super crunching has completely transformed risk assessment and pricing strategies. Traditionally, insurance companies relied on historical data and generalised risk factors to determine premiums....

Actuaries are the sentinels of the financial world, constantly assessing risk, predicting future events, and creating strategies to minimise uncertainty. While the role is often seen as methodical and mathematical, there are moments when randomness, that elusive force, plays a much larger role than expected. Nassim Taleb’s book “Fooled by Randomness” explores this concept, and...