Highlights from the PARIMA Singapore Conference 2017: Sustainability, Resilience and Intelligent Future

The Pan-Asia Risk and Insurance Management Association (PARIMA) held their final and largest of their three regional conferences for 2017 in Singapore, with the theme ‘Sustainable, Resilient and Intelligent Future’ last 14 November 2017 at the JW Marriott South Beach. A total of 291 delegates have attended the conference.

Risk managers representing companies such as AirAsia Bhd, CapitaLand, Changi Airport, Lazada, Resorts World, Rolls-Royce, Singtel, Volvo Group and many more joined the conference. They attended various educational sessions tackling on topics such as Cyber Security, Business Continuity Planning, Talent Risk, Risk Culture, Three Lines of Defense, Business Interruption, Internet of Things and Regulatory Risks. Other attendees included senior leaders from the insurance and risk industry.

The Welcome Address was given by PARIMA Chairman Mr. Franck Baron, who recognizes how far risk management has improved in the region, and encouraged all in attendance to contribute in making risk management more than it is today. Stacey Huang, Executive Director of PARIMA followed up with a recap of how members can best make use of their PARIMA membership and initiatives of 2018 that include a training program to complement the PA-CRP, more local events, a career portal and a mentoring program. PARIMA also featured 2 new research guides they have collaborated on; Shining a light on Business Interruption with Swiss Re Corporate Solutions and Targeting a Technology Dividend in Risk Management with MMC Asia Pacific Risk Centre.

This was followed by the C-Suite Panel discussion moderated by Mr. Jonathan Rake, CEO Asia Pacific of Swiss Re Corporate Solutions, with Mr. George Attard, Head of Analytics International in Aon, John Teo, Chief Risk Officer of Singapore Pools, and Pablo Viejo, Chief Technology Officer of V&V Innovations as panelists. The panel exchanged insights on how the pace of technology and digitization is becoming a major key risk factor. They agreed that there is an increasing importance for CEOs and risk managers to re-assess how they could use the best out of data and technology to capture opportunities and re-frame their understanding of risks.

Delegates expressed positive feedback regarding the conference. ‘PARIMA has done an excellent job from it first began. With what Stacey have briefed us on the mentoring, seminars, certification and careers, PARIMA basically have covered most of it,’ a senior risk manager from the audience has remarked. Another delegate had expressed how he found the conference. ’Overall a great and very interesting and insightful conference,’ he said. Delegates also heard from Ms. Tracy Riddell, Regional Risk Manager (Asia Pacific) of LaSalle Investment Management K.K. and Andrew Bisconte, Regional Director for Strategic Account Management of Aon during the ‘Risk Management – Getting a Seat at The Table’ session, who emphasized that ‘Education and Transparency’ is the key for risk managers to get inside the C-Suite doors.

Ms. Jessica Cheam of Eco-Business closed with a Keynote Speech ‘Why Sustainability Is a Key Risk Issue’, followed by a panel discussion with Ms. Victoria Tan, Head, Group Risk Management Unit of Ayala Corporation and moderated by broadcaster & journalist Mr. Teymoor Nabili.

Industry key players such as Aon, Swiss Re, AIG, AXA, Brokerslink, XL Catlin, Zurich, Lloyd's, Willis, AGCS, Allied World, Arengi, Belfor, EY, Generali, HDI, Int'l SOS, JLT, Lockton, Ventiv supported the event. PARIMA would be going to Bangkok and Tokyo for its 2018 Regional Conferences. The next conference would be held in Bangkok, Thailand on 21-22 May 2018. PARIMA also announced their partnership with Strategic Risks to launch 4 co-branded conference series in 2018 for risk managers in Singapore, Hong Kong, Malaysia and Australia.

PARIMA partners with 30 companies from the insurance, broking and consulting sectors. It aims to strengthen and enhance the culture of risk management by creating opportunities for education and dialogue within the community and spreading best practices and knowledge. It currently has more than 1,300 members representing more than 800 companies across the Asia-Pacific region. For more information on PARIMA and its activities, please visit www.parima.org.

For partnership and conference sponsorship opportunities, please contact Ms. Stacey Huang at stacey.huang@parima.org.