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, and emerging trends in the Pakistani insurance sector.
The conference provided a remarkable platform for thought-provoking discussions, expert insights, and valuable networking opportunities, fostering an environment for collaboration and growth within the industry. We extend our heartfelt gratitude to all those who participated, helping to make this event a success.
Distinguished Speakers and Sessions
The conference featured a stellar lineup of speakers, each bringing a wealth of knowledge and experience from their respective fields.
Mr. Shoaib Javed Hussain – CEO, State Life Insurance Corporation of Pakistan
With over two decades of global experience in insurance and consultancy, Mr. Shoaib Javed Hussain, a Fellow of the Institute of Actuaries (UK), captivated the audience with his insights. Having previously held leadership roles at renowned organizations such as AIA, Milliman, Prudential, EY, and HSBC, Mr. Hussain shared his vast expertise in shaping the future of the insurance industry.
Mr. Aamir Khan – Commissioner SECP
Mr. Aamir Khan’s session highlighted his 30+ years of experience in financial markets and institutional banking. As Pakistan’s Commissioner of Insurance, he shared his perspective on the sector’s evolution and the launch of Pakistan’s first 5-year strategic plan aimed at transforming the insurance landscape.
Panel Discussions on Healthcare and Insurance
The conference also featured an insightful panel discussion on the development of an integrated healthcare framework, where experts explored both local and international perspectives.
Representing Pakistan’s health insurance sector were:
- Muhammad Ashar – Division Head (Health Insurance), State Life
- Muhammad Makkani – Head of Actuarial, CNHI
- Dr. Mairaj Shah – COO, Aga Khan Secondary Hospital
- Falak S.H. Soomro – Advisor, SECP
This session delved into two important programs: Pakistan’s Sehat Sahulat Program and Saudi Arabia’s healthcare system, examining their potential to serve as models for Pakistan’s future healthcare landscape.
The discussion was moderated by Zahny Amlany, FSA CERA, who expertly guided the conversation about the roles of various stakeholders—government, hospitals, and insurance companies—in driving health equity and ensuring long-term sustainability through analytics, financial planning, and risk management.
State of the Insurance Sector
The conference also explored the current state of the insurance sector, featuring top industry figures such as:
- Mohammad Ali Ahmed – CEO, EFU Life Insurance
- Jahanzaib Zafar – CEO, Askari Life Insurance
- Azfar Arshad – COO, Jubilee General Insurance
The session, moderated by Shiraz Anwar, discussed Pakistan’s 5-year insurance strategic plan, led by Mr. Waseem Khan, Director of the SECP’s Insurance Division. The plan’s focus on increasing insurance penetration in Pakistan was a central theme, and the session examined the opportunities and challenges in achieving an insured Pakistan.
A Lineup of Distinguished Experts
The conference was also privileged to hear from several renowned experts in the field:
- Paul Sweeting – Senior Advisor at Hassana Investment and Honorary Professor at the University of Kent, shared his expertise in enterprise risk management.
- Hatim Maskawala – Managing Director of BADRI Management Consultancy, with over 20 years of experience in optimizing profitability and improving risk management.
- Ronald T. Kozlowski – A consulting actuary with over 35 years of experience in pricing, reserving, and M&A due diligence.
- Ms. Khalida Habib – Head of SECP’s Specialized Companies Division, known for strengthening financial stability and investor protection.
- Rosmery C. – A data and behavioral science expert at RGA, enhancing decision-making in the insurance industry.
Their sessions provided deep insights into the future of risk management, financial planning, and the role of actuaries in shaping the industry’s future.
Thank You to Our Sponsors
We would like to express our sincere gratitude to the sponsors who made this event possible, including:
- State Life Insurance Corporation of Pakistan (Official Sponsor)
- EFU Life Assurance Ltd.
- Society of Actuaries
- Institute and Faculty of Actuaries
- Casualty Actuarial Society
- BADRI Management Consultancy
- SHMA Consulting
Their support played a crucial role in bringing together the brightest minds in the industry, contributing to the success of this event.
Looking Ahead
The PSOA Conference 2024 was an invaluable experience for everyone involved, providing an in-depth look into the future of Pakistan’s insurance sector. With industry leaders, professionals, and experts collaborating, the event successfully highlighted the key trends, challenges, and opportunities that lie ahead.
