Thailand Prepares for ‘4.0’ with PARIMA Bangkok 2018

By Asia Insurance Review

The Pan-Asia Risk and Insurance Management Association (PARIMA) held its first of two regional conferences for 2018 in Bangkok on 22 May 2018, with the theme ‘Overcoming Uncertainty – Preparing for 4.0'.

Representing Thailand’s regulator Office of Insurance Commission (OIC) was deputy secretary-general Mr Chuchatr Pramoolpol, who was one of the opening speakers. He expressed the OIC’s support for PARIMA’s work. PARIMA chairman Franck Baron delivered opening remarks, highlighting how diverse the risks are for each region and how PARIMA is determined to help further develop the risk community in Thailand, with board members Supaporn Chatchaisaeng and Mujalin Boonrod expounding on why it is important for risk managers to take advantage of educational opportunities such as these.

A panel on “C-Suite Perspectives: Keeping Up with The Needs of Senior Management”, moderated by PARIMA General Secretary Steve Tunstall and with Brian Delaney, corporate chief financial officer of Minor International PCL, David M. Johnson, regional senior vice president, regional manager – Asia operations of FM Global, and Andrew C. Bentley, CEO of Aon Thailand Ltd as participants discussed  how important it is for risk managers to understand their company's pain points and help take the load off the C-Suite. The audience were also reminded to keep a holistic view of risk, focusing on prevention and not just relying on insurance for protection.

The morning keynote on “Digital Transformation in the 4.0 Age” saw Lloyd’s Asia’s senior manager, market development Pavlos Spyropoulos speaking on how the sharing economy is booming in this era, and what it means for companies. Leslie Chacko, director, emerging technologies – Global Risk Center of Marsh & McLennan Companies then further expanded on this topic and pinpointed six practical steps that risk managers can do to help their companies remain resilient through the waves of digitalisation.

Addressing “A Risk Manager’s Journey from A To Z”, Jane Drummond, Aon's regional head of sales, marketing and global client network, spoke with AirAsia’s group head of risk and insurance Suchitra Narayanan on how the latter’s role as a risk manager has developed over time and geography, what is currently on her risk agenda and her outlook on the future of risk management. Ms Narayanan emphasised how important it is for risk managers to be open to learning and to make the best out of educational opportunities for professional progression.

PARIMA executive director Stacey Huang said, “I am left in awe seeing how supportive and knowledge-hungry the risk management community in Thailand is. We at the PARIMA core team are stirred up to do more for risk managers in Thailand. I believe that the PARIMA Bangkok 2018 had set the momentum for the further development of the risk profession in this region,”

A total of 265 delegates attended the event, including risk professionals coming from companies such as CP Group, Minor Group, Bangchak Corporation, Siam City Cement, Air Asia, Lazada, Toyota Tsusho, INPEX, Mitsubishi Heavy Industries, BASF and other senior leaders and experts from the risk and insurance industry.

The next PARIMA Regional Conference will be held in Tokyo, Japan on 30 October 2018.