Asad Irshad

Asad has over 15 years of actuarial experience on a wide range of property and casualty projects across Europe, Asia, the Middle East, and the United States. He is a recognized speaker on telematics and digitalization in the insurance sector.

Before joining Milliman, Asad was a director within the Financial Services team at KPMG in London, where he worked with insurers and banks to provide regulatory and actuarial services. He was the lead on many Solvency II projects and started the IFRS 17 initiative.

• Supported non-life insurers and reinsurers with regulatory approvals, particularly during Solvency II implementation. This included review of business plans, internal model, standard formula, reserving, capital, pricing, and governance frameworks, etc.
• Conducted model validations for capital calculations under different regulatory regimes. This also included looking into dependencies framework, stress and scenario testing, and reverse stress testing.
• Assisted large global reinsurance firms with their CAT models.
• Led a team of specialists on providing model validations for most of the major banks in the UK on their conduct risk agenda. Conducted motor review of the market for various regulators to identify issues within the market and recommend solutions.
• Implemented machine learning and AI solutions for big data use in insurance.
• Assisted start-ups with their business plans, digital strategies, and capital raising. Provided support on design and implementation of risk management and internal governance frameworks.
• Conducted actuarial audits and independent reserve reviews for a number of large insurers and Lloyd’s syndicates writing a wide range of business. Developed auditing and reviewing algorithm designs for calculating safe driving scores by one of the leading telematics providers in the world.
• Worked with the regulators and relevant ministries of a large Middle Eastern country on designing a scalable telematics solution.
• Led IFRS 17 implementation for multiple clients in the GCC region.