AIA, SMU ink work-study elective MOU to give actuarial science students head start

INSURANCE company AIA Singapore and the Singapore Management University (SMU) have teamed up to launch a work-study elective programme, aimed at providing actuarial science students with on-the-job training experiences.

AIA and SMU signed a memorandum of understanding (MOU) to formalise their first collaboration, according to a Monday press statement. The partnership will allow students from the university’s School of Economics to undergo a 20-week apprenticeship.

As part of their track requirement work-study elective, selected students will get to pick up industry best practices from professionals at AIA and be exposed to actuarial functions covering product pricing, valuation of insurance liabilities and reinsurance, AIA said. 

The new elective supports efforts by the Institute of Banking & Finance in upskilling and transforming the workforce.

“This partnership also supports the national priority of growing our local talent pool by developing good skills and capabilities within the financial industry,” said Aileen Tan, chief human resource officer of AIA Singapore.

Professor Hoon Hian Teck, dean of SMU’s School of Economics, said: “Our curriculum constantly seeks to blend theory with the real world… The opportunity to glean insights from AIA leaders and professionals during the programme will stand our graduates in good stead to thrive in their future careers in the actuarial field.”