#7  Models, mistakes and mayhem

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Kavi Pather (Partner at EY) and Idelia Hoberg

Kavi has worked extensively across the industry for more than 10 years. His clients include almost all the short-term insurers of size in the South African market and several large players on the African continent. He has served as a statutory actuary for four short-term insurance licenses in the South African market, is the appointed actuary for a Kenyan general insurer and serves on the board of a large South African Life Insurance Group. He has specialised in the application of actuarial expertise to the industry including reserve valuations, pricing and product development, capital modelling, economic scenario generators, Solvency II and SAM projects, and, more recently, IFRS17. He has extensive experience in model risk management and model validation and has designed a model validation framework as part of the IMAP process. Kavi has also consulted on risk management frameworks, ERM and ORSA over the past 5 years to a large portion of the local market

Idelia started out at EY in Zurich in 2011 and, after various consulting projects with Allianz, moved over to the Risk function at Allianz Group in 2014 and later, in 2016, took on a role of Capital Steering Lead for Life and Health business in the Corporate Finance function of Allianz Group. Idelia set up the internal and technical provision model governance and validation frameworks at Allianz Group. She also worked on the roll-out for the life biometric and business risks as part of the Allianz’s IMAP submission. Within her last role with Allianz she challenged and refined the methodology for the Return on Risk Capital metric and set up processes to embed it into the subsidiaries. Her expertise includes model governance and validation, risk capital calculation, optimised capital allocation, capital management/steering, economic risk capital, product development and risk management processes. She is a Chartered Enterprise Risk Actuary and Fellow of the IFoA
Season 1 / Episode 7 27 Sep 2018 English South Africa Investing

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