Kenneth CHENG

BSc in Risk Management Science
PartnerRe Limited

PartnerRe Limited is a US-based reinsurance company that underwrites non-life reinsurance treaties with major insurance companies worldwide. As an intern on the actuarial team, I helped pricing actuaries based in the UK to price motor and liability treaties on a day-to-day basis. I was responsible for analysing reinsurance treaties and developing initial pricing results for the actuaries. I was also tasked with consistently monitoring and improving the pricing models used for various treaties. As most of the pricing models were sophisticated statistical models, I was able to use the concepts taught in some of my statistics courses to improve them.

During this internship, I gained a broader understanding of how to model risk using statistical models. For example, some of the price reinsurance treaties I worked with had extra features that behaved just like options in finance, so I could apply the principles underlying financial options to the treaties. It was inspiring to see the link between derivative pricing and the reinsurance world. Various statistical techniques were used daily to update the existing pricing model, which was also a great opportunity for me to demonstrate what I had learned in lectures. Lastly, my day-to-day tasks relied heavily on efficient communication with UK-based actuaries, so it was essential for me to work well with colleagues from different cultures. There was also one Korean intern in the Hong Kong office. I am grateful to have had the opportunity to work in this multicultural environment.

Kam To CHOW

BSc in Risk Management Science
Aston University, United Kingdom

I had the incredible opportunity to participate in an exchange programme at Aston University in Birmingham, United Kingdom. My choice of the UK as the exchange destination was influenced by the historical ties between the UK and Hong Kong, as well as my passion for football and the renowned Premier League. Additionally, Aston University’s reputation in engineering and statistics made it the ideal choice for my academic pursuits.

One of my favourite modules at Aston University was CS3DM_Techniques for Data Analysis (Data Mining). This course delved into the various techniques used in data mining, such as classification, regression, clustering, data processing, and model building. The course’s practical approach, balanced with theoretical concepts, was particularly appealing. The professor incorporated real-life examples and datasets, allowing us to apply our knowledge meaningfully. Weekly tutorial tasks sharpened my data analytics and visualisation skills using Python, providing valuable hands-on experience.

Moreover, the course highlighted the significance of data mining across various industries. We explored how data mining can be used in finance, healthcare, and marketing, among other fields. This broadened my perspective on the potential applications of data analysis and provided insights into the practical implications of the techniques learned. It was fascinating to see how data mining has become an indispensable tool for decision-making and problem-solving in today’s data-driven world.

In conclusion, my exchange experience at Aston University was a remarkable adventure that provided me with valuable academic and cultural experiences. From the engaging modules to the study freedom and interactions with individuals from around the globe, I am grateful for the opportunity to explore the UK and expand my knowledge in the field of statistics. This exchange programme broadened my horizons and allowed me to develop a deeper understanding of the world. The memories and lessons from this experience will forever hold a special place in my heart, shaping my personal and academic growth.