A virtual conversation between the head of the insurance research institute and the head of the actuarial association of Pakistan
According to the financial news report, citing the public relations and international affairs of the Insurance Research Institute, in this meeting on Wednesday, January 6, 1402, with the presence of Mohammad Mehdi Asgari, the head of the Insurance Research Institute, Mohammad Osama Dangra, the head of the Pakistan Actuarial Association (PSOA).[1] Falak Soomro, insurance consultant of the Securities and Exchange Commission of Pakistan (SECP) [2] and Umar Khan, Secretary of Pakistan Actuarial Association, there was a discussion and exchange of views regarding the start of joint cooperation in the field of actuarial education and research in the field of insurance and takaful.
At the beginning, the head of Insurance Research Institute, while thanking Pakistan Actuarial Association for attending this meeting, introduced Insurance Research Institute as the only research and specialized training authority in the country’s insurance industry.
Explaining the actions taken by the Insurance Research Institute in line with the establishment of Takaful in Iran since the beginning of 1401 and obtaining the license to provide Takaful products in the country by 10 insurance companies, Asgari pointed out the emphasis of the Central Insurance of the Islamic Republic of Iran on holding specialized insurance courses and requested to hold The specialized training courses in actuarial insurance and takaful became common in person and online for Iranian insurance industry activists.
The head of the Insurance Research Institute announced and clarified the readiness of this group to host the professors of this association to hold face-to-face training courses in Pakistan, United Arab Emirates, Turkey and Iran; Holding face-to-face training courses for activists in fields related to the insurance industry, especially short-term specialized training courses in the field of actuarial assessment, is a priority for the actions of the Insurance Research Institute.
He further mentioned the holding of series of educational webinars in cooperation with the International Islamic University of Malaysia (IIUM) and expressed his hope that in the near future, along with concluding a joint cooperation agreement with the Pakistan Bimsenji Association, the first series of educational webinars will also be held with the participation of this association.
Referring to the presence of experts in the field of new technologies in the insurance research institute, Asgari announced the readiness of this group to cooperate with the association in the field of new technologies.
He added at the end; According to the request of the CEOs of the insurance companies present at the 1402 Insurance and Development Conference to expand international cooperation in order to benefit from the world-class knowledge and the capacity of the insurance and takaful industry of the countries in the region, cooperation with the Pakistan Actuarial Association in the field of reinsurance and takaful reinsurance is also Other areas of joint cooperation between the two collections will be.
In the continuation of this meeting, the head of the Pakistan Actuarial Association, while announcing his readiness for any cooperation with the Insurance Research Institute, stated; In addition to using its internal capacities to hold training courses designed by the insurance research institute, especially in the field of actuarial measurement at the intermediate and advanced levels of Iran’s insurance industry, Pakistan Actuarial Association is ready to invite other prominent experts and experts in the field of actuarial measurement of Pakistan to hold Training courses for Iran’s insurance industry were invited.
Mohammad Osameh Dangra, expressing his satisfaction with the start of cooperation between Iranian and Pakistani actuarial experts, announced that the Pakistan Actuarial Association is the intermediary for holding tests of other organizations and institutions active in the insurance and takaful industry of this country, and the possibility of cooperation in the field of insurance and takaful industry tests is also available.
Falak Soomro, Insurance Consultant of Securities and Exchange Commission of Pakistan (SECP) was also present in this meeting.[3] And the member of the Pakistan Actuarial Society introduced the field of activity of the association and noted that this association is working as a professional unit consisting of experts in the field of actuarial studies and has close cooperation with international experts in this field, especially from the United Arab Emirates and Saudi Arabia. has it.
Falak Soomro named car insurance reserves as one of the other areas of cooperation between Pakistan Actuarial Association and Insurance Research Institute and added that researches on car insurance reserves in Saudi Arabia, Pakistan and Iran are currently being conducted by the experts of the association.
At the end, the member of the Pakistan Actuarial Association invited the head of the insurance research institute to attend in Islamabad, and asked to determine the details of the training courses and announced that the Pakistani actuarial market consists of 50% life insurance and 50% non-life insurance, and the knowledge and capacity of Salam Company Takaful of Pakistan in the field of insurance software can also be exploited in the cooperation of the insurance industry of Iran and Pakistan.
It is worth mentioning that Pakistan Actuarial Association represents the actuarial profession in Pakistan, which currently has more than 200 members (including student members). The association’s activities include holding face-to-face and online conferences and events for its members, and the target community for its events is actuaries, the insurance industry, and pension funds/post-retirement benefits.
Among the duties of this association, equipping the beam surveyors and the organizations that serve them in order to measure and effectively manage risk, developing and upgrading the knowledge base of beam surveyors with the aim of providing practical solutions for business problems related to future uncertain events, improving the standards of competence and behavior A professional in actuarial profession, strengthening existing relationships and creating new opportunities with employers, increasing the value of FPSA credentials in order to attract the best options, introducing more actuarial profession among people and conducting research to develop studies based on historical experiences.