Chong Wen has 14 years of experience in the life insurance industry. Prior to Milliman he worked in a variety of roles covering actuarial valuation, product development, embedded value reporting, and modelling.
Chong Wen has extensive experience in Prophet modelling, having worked on Prophet development and coordination roles during his time with direct life insurers, and having led several Prophet development projects at Milliman.
Chong Wen is active in the development and implementation of IFRS 17 across the life insurance industry, and is a regular speaker on IFRS 17 at industry conferences.
His relevant experience at Milliman includes:
- Leading Prophet IFRS 17 implementation work for a number of life insurers across South East Asia, covering conventional and Syariah business.
- Providing IFRS 17 methodology development advice and support for companies across the Asia-Pacific region.
- Leading the actuarial workstream of an end-to-end IFRS 17 implementation project for a Brunei Syariah insurer, in collaboration with an accounting firm. Milliman also provided and implemented the CSM engine.
- IFRS 17 time value of money (TVOG) assessments using stochastic models.
He also has broad life insurance valuation experience, which includes:
- Buy- and sell-side support on life insurance mergers and acquisitions
- Appointed actuary support for a Singapore life insurer
- European Embedded Value (EEV) and Market Consistent Embedded Value (MCEV) reporting and review for Malaysia, Singapore, Indonesia, and Japan
- Development of an analysis of profit/source of earnings methodology and process from scratch
- Development and production of mortality, morbidity, and lapse experience studies
