Actuaries Institute announces 2020 president

Actuaries Institute announces 2020 president | Insurance Business

Actuaries Institute announces 2020 president

The Actuaries Institute has welcomed its first Asian-born and seventh female president in Hoa Bui.

Bui said she would bring a renewed focus to giving young actuaries a voice in the profession during her term as head of the professional association, as she noted that more than half of the institute’s members are under 35 years old.

“Engaging young members of the institute, harnessing their energy and their knowledge, will help bring about faster change to benefit society and the profession,” said Hoa, who emigrated from Vietnam with her family when she was 18.

Bui identified the environment, climate change, and the digital and data sectors as growth areas for actuaries. She also stressed the role of actuaries in helping policymakers and the society deal with these emerging risks.

During the year, Bui expects the institute to release major papers on intergenerational wealth and equity, and the gig economy. She also expects the profession to actively contribute to discussions on the role of data, privacy, and the ethics around its use.

“Data is the future,” Bui said. “If we manage it wisely, I see a world where actuaries do much more than ‘data’ work. Actuaries have tremendous skill in the design, explanation and interpretation of data and can harness its power.”

“We have an important role to play, to bring evidence-based recommendations to public policy across many sectors,” said Elayne Grace, Actuaries Institute CEO. "Hoa brings business context and rigour to her leadership role. I look forward to working with her.”