2023 Board Member Candidate
Achille Sime Lanang, FSA 2015, MAAA 2009, CERA 2013, AQIAF 2006
SL FINANCIAL, Inc.
Principal/CEO
Coral Gables, Florida
Introduction
I am honored to be an endorsed candidate for Elected Board Member. I am running for this position to contribute to the expansion of the actuarial profession around the world and particularly in the developing countries. The good news is that the SOA is already a recognized global leading provider of actuarial education. Having a Board that deeply understand challenges faced by various communities, would allow the SOA to attract the best candidates from a more diversified pool of talents, prepare them to solve local societal issues and provide the educational content that is relevant and needed for them to be successful actuaries and business leaders.
I am excited for the opportunity to serve. As Board Member, I will bring over 20 years of experience from around the world and from different areas of practices and 10+ years of volunteering experience for the profession. I am proud to say that I was the first FSA to complete the General Insurance track and was subsequently approved by the Casualty Practice Council of the American Academy of Actuaries to sign NAIC P/C Opinions. That experience prepared me to contribute significantly by accepting a call for nomination to represent the SOA at the NAIC Appointed Actuary Job Analysis Project that laid to the new definition of a P/C Appointed Actuary.
Given my background and experience, I truly believe I am the right person to help lead the organization forward at this time. I welcome the opportunity to discuss any issues with you. I hope to earn your vote!
Brief Description of Current Work
I am Principal/CEO of associated with the firm SL FINANCIAL, Inc. and Founder & CEO of the startup SL DRA, LLC. SL FINANCIAL provides actuarial and risk consulting services to public and private risk financing entities and SL DRA is an InsurTech startup that provides reporting and analytics solutions for (re)insurance companies and regulatory entities in Africa.
Primary Area(s) of Practice
General Insurance/Property Casualty
Bio
Achille has considerable experience in assignments involving reinsurance pricing, risk-based performance measurement, enterprise risk management, capital modeling, catastrophe modeling, funding studies, loss cost projections, captive feasibility studies, commercial lines ratemaking, personal lines rate filings and valuation of property catastrophe exposed insurance-linked securities (ILS). He is also heavily involved in research, with particular focus on the modeling of extreme events and the implications to capital at risk.
Achille received his actuarial credentials in both the United States and France. He is a frequent speaker at industry conferences and has made numerous presentations to professionals on the role of actuaries in the convergence between traditional and alternative reinsurance. His volunteer experience includes serving on the NAIC Educational Standards and Assessment Guidance Project from 2017–2019, as well as on the American Academy of Actuaries’ Extreme Events and Property Lines Committee, the P/C Risk-Based Capital Committee and the Committee on Property and Liability Financial Reporting (COPLFR).
His many roles have included serving as an appointed actuary and loss reserve specialist for USA/Bermuda insurance companies and as an NAIC risk-focused examination actuary. He has also provided actuarial support for rate filings, performed actuarial pricing and catastrophe modeling for reinsurance renewals, and developed loss reserve and funding studies for captive insurance companies and self-insured entities. Furthermore, he has experience in the trucking industry for alternative markets in projects involving loss reserves, funding, retention, and deductible analyses.
He is a Member of the American Academy of Actuaries and meets its qualification standards for issuing Statements of Actuarial Opinion included with NAIC Property and Casualty Annual Statements. He is a Fellow of the Society of Actuaries (General Insurance Specialty Track), an Affiliate of the Casualty Actuarial Society, a Chartered Enterprise Risk Analyst, a Fellow of the Nigerian Actuarial Society, and a Fellow of the Institute of Actuaries of France.