The Specialist Delegation from the Joint Project between the United Nations Development Program (UNDP) and Milliman Company, US working and sharing at UEH

05 Sep, 2023

On the afternoon of August 21, 2023, UEH College of Technology and Design welcomed and worked with the specialist delegation from Milliman Company and the United Nations Development Program (UNDP) on the project of developing capacity for risk management and actuarial science in 27 IRFF (Insurance and Risk Finance Facility) countries, including Vietnam.

As one of the few universities in Vietnam with specialization in Risk Analysis and Actuarial Science, UEH College of Technology and Design (CTD) is honored to be one of the destinations of the specialist delegation from the UNDP-Milliman Project represented by Ms. Queenie Chow - Project Director and Mr. Jerry Trung, Mr. Danh Mai and Ms. Kelly Alcock - Project consultants. The CTD delegation attending the reception and working session included: Dr. Thai Kim Phung, Deputy Head of CTD; Dr. Ha Van Son, Vice Dean of School of Mathematics - Statistics, CTD; Dr. Tran Thi Tuan Anh, Vice Dean of School of Mathematics and Statistics; MSc. Bui Thi Le Thuy, Deputy Head of Department of Economic Mathematics cum Director of the specialized program in Risk Analysis and Actuarial Science, School of Mathematics - Statistics, CTD; MSc. Nguyen Thi Phuong Thao, Head of CTD General Department, and lecturers of the School of Mathematics - Statistics, CTD.

The goal of the UNDP-Milliman Project is to enhance global sustainable development through expanding risk management and actuarial science and expertise in developing countries by building capacity and expertise in risk management and actuarial science of local actuaries; increase data availability through regulators and the insurance industry; assist countries in adapting to more resilient risk management under the impacts of climate change and provide support. At the same time, we encourage the government, insurance companies and other stakeholders to act together to achieve the above goals.

Overview of the meeting

Speaking at the working session, Dr. Thai Kim Phung, Deputy Head of CTD, affirmed that with the vision of becoming one of the most prestigious educational institutions in Southeast Asia in education, training and research in the field of technology and design, CTD always strived to expand relationships and cooperation domestically and internationally. The quality of training and research has always improved, and learners were equipped with the latest knowledge and skills to become global citizens. Therefore, Dr. Thai Kim Phung highly appreciated the significance of the project that Milliman and UNDP had been implementing and hoped that through this meeting, UEH in general and CTD, in particular, could contribute to the goals of improving risk management capacity and valuing human resources insurance in developing countries, for the sustainable development of the community.

Dr. Thai Kim Phung - Deputy Head of CTD - presenting at the meeting

UNDP-Milliman specialist delegation (from the left): Mr. Danh Mai; Mrs. Queenie Chow; Mr. Jerry Trung and Ms. Kelly Alcock

The program consisted of two parts: a discussion between the specialists and CTD representatives and a sharing of practical experiences on actuarial science and risk management by specialists from Milliman for UEH students.

The main content of the first session was professional information related to the major of Risk Analysis and Actuarialism at UEH. MSc. Bui Thi Le Thuy introduced the training program, counseling and enrollment methods, and clearly stated the advantages and disadvantages of specialized training in Risk Analysis and Actuarialism at UEH, in particular, and the current insurance sector in Vietnam, in general. Thereby, the delegation had a clearer view of the training of actuaries in Vietnam, and the gap between training quality and recruitment requirements of enterprises, from which the delegation proposed suitable solutions. From the comments and the practical suggestions of the delegation, representatives of the Leadership Board of the School of Mathematics and Statistics, in particular, and the College of Technology and Design, in general, had new perspectives on improving the quality of the specialized program in Risk Analysis and Actuarial Science, promising effective adjustments in the future.

Dr. Tran Thi Tuan Anh - Vice Dean at School of Mathematics and Statistics, CTD - thanking the suggestions from the project’s specialist delegation.

At the end of the first session, Ms. Queenie Chow, representing the delegation from Milliman Company, expressed her gratitude to the Board of Directors and the lecturers of UEH College of Technology and Design for taking the time to discuss and work with the UNDP-Milliman project specialist delegation. She was also very impressed with the hospitality that the delegation received when coming to UEH, as well as the enthusiasm and quality of the training program of the UEH faculty in general and CTD in particular.

Dr. Thai Kim Phung, Vice Principal of CTD, presenting souvenirs to experts.

Delegates attending the working session took photos.

Right after the first session, the delegation had an in-person exchange with UEH students on the topic "Actuarial Consulting and The Future of Actuarial Work" in Hall B1.302 and online in Room B1.205. Experts from Milliman brought interesting and equally practical sharings concerning the field of actuarial and risk management consulting as well as the future of the actuarial profession to nearly 400 students. The exchange with experts was of special interest to the students through interesting questions that were continuously asked to the guests.

MSc. Bui Thi Le Thuy - Deputy Head of Department of Economics Mathematics cum Director of the training program specializing in Risk Analysis and Actuarial Science, School of Mathematics - Statistics, CTD - announcing the rationales and introducing the speakers of the session.

The specialists sharing their practical experiences in the field of actuarial and risk management consulting as well as the future of the actuarial profession.

Students' questions to the specialists.

The specialists presenting souvenirs to students.

The specialists taking photos with students.

After the sharing session, the specialists also had a private discussion with students majoring in Risk Analysis and Actuarial Science, School of Mathematics - Statistics, College of Technology and Design to learn more about their perceptions, abilities and aspirations for this field. Afterthat, the students enthusiastically shared their stories and received practical advice from the specialists.

The specialists discussing privately with students majoring in Risk Analysis and Actuarial Science, School of Mathematics and Statistics, CTD.

The working session with the specialist delegation from Milliman Company, US is part of the program "Community Connection - Spreading Knowledge - Sustainable Action" of UEH. With the strategy of developing into a multidisciplinary and sustainable university, UEH has been promoting activities to connect the university with state agencies, academicians, associations, businesses and the alumni community to contribute intellectual and sustainable values to the development of the community and society.

News and photos: UEH School of Mathematics and Statistics, CTD General Department, UEH Department of Marketing and Communications.