A group of students consisting of Celestie Liew Huey Yin from the Faculty of Management (FOM), Lee Wen Xin, Tay Chang Jun, Nurfirzana Mohd Izat, and Nurul Hasnah Ibrahim from the Faculty of Business (FOB) qualified for the grand final round of Heriot-Watt University Malaysia Society of Actuarial Science (HWUMSAS) Case Competition 2023. The final round was held at Heriot-Watt University Malaysia on 29 March 2023.

The preliminary round was participated by 3 teams from MMU, whereby teams were required to deliver a written report on their detailed analysis and ideas. Team 5Technemorrow was shortlisted as the top 7, which qualified them for the final round together with other finalists from Asian Pacific University (APU), Heriot-Watt University, and Sunway University.

The finalists were required to pitch their idea followed by a 5-minute Q&A session by the judges, who were industry experts in the actuarial industry, representing esteemed insurance firms in Malaysia. Mentored by Mr. Vincent Chan from the Faculty of Business (FOB), the team impressed the judges with their strategic and innovative pitch. The team proposed the ACTS-uary Framework as the solution for insurance firms and financial institutions to effectively integrate digital solutions while creating environmental, social, and governance impact at the same time.

The competition is a national-level competition that aims to explore the impact of advancements of emerging technologies on the role of actuaries in the insurance industry, and their ability to analyse and mitigate risk in a rapidly evolving market that is increasingly influenced by technological advancements and ESG considerations. The case also challenges the participants to identify any challenges and opportunities that these advancements present for the future of actuarial science and the insurance industry.

Well done!