Faculty Research Groups | General Insurance | General Insurance Reserving Oversight Committee | Health and care | Life insurance |

Faculty Research Groups

David Hare (tel: 0131 245 0632, e-mail: David_Hare@standardlife.com).

Faculty Solvency II Research Group - On-going (established 2007)

Membership
Chair: Mark Willder
Other members:
Michael Aitchison, Anne Baxter, Carole Dick, Peng Jin, Susan Morgan, Callum Stuart

Aims and objectives
This group will look at some of the consequences to life insurers of the introduction of the Solvency II regime.

Expected outcome
Presentation at 2008 Life Convention

Glasgow Pensions/Investment Research Group - On-going (established 2007)

Membership
Chair: John Dickson
Other members:
Chris Hurry, Christine McDermott, Alan Watson, Iain McLellan, Paul Hamilton, Richard Warden

Aims and objectives
The group is considering a range of issues associated with DC provision, including sufficiency of pension provision, engagement with DC members and pre/post retirement options.

Mortality Research Group - On-going
Two-dimensional mortality data: patterns and projections

Membership
Chair: Stephen Richards
Other members:
John Ellam, Jennifer Hubbard, Joseph Lu, Stephen Makin, Keith Miller

Aims and objectives
The Group has resolved to present a research paper to the Faculty of Actuaries Sessional Meeting in February 2007. The topics covered by this paper will be two-fold:
1. The application of P-splines to the smoothing and projection of the mortality rates of different countries.
2. The improvements by cause of death implied by different P-spline mortality-rate projections.
This second topic seeks to answer one of the questions most often put to the CMIB Projections Working Party. The Group will liaise with the Working Party during the research.

General Insurance Practice Executive Committee

Contact - Peter Stirling (tel: 020 7632 2177, e-mail: peter.stirling@actuaries.org.uk)

The actuary's role in the ORSA - On-going (established 2009)

Membership
Chair: Visesh Gosrani
Other members:
Veekash Badal, Susie Bowden, Paul Cook, Sarwar Grami, Prit Hanspal, David Johnson, Natasha Regan, Niraj Shah, Chris Smerald, Dean Swallow, Stephen Wilcox 

Objective
To understand the actuary's role in the ORSA

Are actuaries cautious? - On-going (established 2008)

Membership
Chair: James Rakow
Other members:
James Anderson, Yowshern Lau, Julian Leigh, Gary Dunne, Graham Robertson, Lucy O'Brien

Aims and objectives
To explore aspects of the psychology of GI actuaries

Expected outcome
Presentation at GIRO 2009

Defining the scope of your internal models - On-going (established 2009)

Membership
Chair: Martin Cairns
Other members:
Kate Angell, Dhruv Haria, Craig Martindale

Microinsurance - On-going (established 2009)

Membership
Chair: Agrotosh Mookerjee
Other members:
Daniel Clarke, Dermot Graham, Bertha Liverpool, Zameer Mitha, Devjit Roychowdhury, James Sharpe, Daniel Stein 

Terms of reference

An analysis of Crop Micro-insurance in developing countries, including the following sections:

• Importance of agriculture in developing countries and what characterises agriculture in different developing countries e.g. small scale, poor access to rural finance, low levels of irrigation/dependence on rainfall and other weather conditions.
• Brief summary of crop insurance schemes in developed countries (e.g. US, UK, Canada, Spain, France) - lessons learnt from these schemes and why they may not be applicable to Developing countries.
• Risks facing farmers in developing countries (including weather, pests, price, risks etc).
• Role that crop insurance plays/can play in reducing these risks and risks which remain for customer (e.g. basis risk for indexed insurance).
• Risks Insurers face and ways of controlling these risks.
• Different types of crop insurance (e.g. weather indexed, multi peril indemnity) and their benefits, problems.
• Other possible bases of cover (in addition to multi-peril indemnity and indexed insurance).
• Use of rain gauges, satellite imagery and measuring soil humidity as ways of measuring exposure for indexed product. Use of other meteorological data and specific agronomic information.
• Case studies from different countries - product design, performance to date- analysing experience for take up rates, claims, lessons learnt, problems identified, room for improvement, suggested changes to design, practical limitations etc.
• Role of Government and regulation of these insurance products e.g. regulatory intervention on ‘Ambiguity loading’ and use of subsidies. Role of NGOs and other local organisations in explaining these products.
• Role of Reinsurers, use of CAT bonds etc- formulae and pricing methods used by Reinsurers (“Supply side”).
• Role played by other mechanisms e.g. minimum price floors, catastrophe funds, government subsidies, construction of irrigation infrastructure etc.
• Market capacity and role insurers can play in this field in the future - privately and in collaboration with governments.

Non-life insurance - outwitting the fraudsters - On-going (established 2008)

Membership
Chair: Catherine Barton
Other members: Michael Garner, Mark Jones, Robert Allan, Maria Keane, Tony Ray

Aims and objectives
It is difficult to quantify the cost of fraud in the UK but recent estimates place the cost at around £20 billion per year, with insurance fraud contributing around £2 billion to this amount. There are clearly significant financial incentives for insurers to invest time, money and energy to detect and combat fraud perpetrated against them.
This working party is being set up with the intention of collecting information on fraud reducing initiatives currently in place within the market and improving actuarial techniques aimed at reducing fraud.
It is envisaged that full investigation of fraud in the non-life insurance industry necessitates a two year working party with the aims in each year as follows:
Year 1: Understand fraud in the non-life insurance market and the areas in which actuaries can help reduce insurance fraud.
Year 2: Improve the toolkit of the non-life actuary for fraud detection and reduction.
The investigations may range from measures to reduce operational risk within an insurer to detailed analytical investigations like predictive model.

Expected outcome
Presentation to a future GIRO

Periodic payments - practical considerations - On-going (established 2009)

Membership
Chair: Nathan Williams
Other members:
Anthony Carus, Antony Claughton, Avni Gohil, Catherine Pearson, Derek Fuller, Karl Murphy, Laura McMaster, Mark West, Matthew Myring-McCullagh, Nick Ross, Peter Saunders, Sarah Clark, Katy Harrison, Victoria Jenkins, Sarah Macdonnell

Initial themes/topics
Focussing on practical issues and how to deal with the complexities around reinsurance in the context of periodic payments. To report on interim progress at CIGI and submit a paper for GIRO 2010.

Piracy - On-going (established 2009)

Membership
Chair: David Sanders
Other members:
Yves Colomb, Darren Farr, Neil Hilary, Nick Moore, Justyn Harding, Peter Hinton, James Anderson

Quantitative techniques for dealing with sparse data - On-going (established 2009)

Membership
Chair: Ajay Chhabra
Other members:
Tom Day, Prit Hanspal, Shane Latchman, David Menezes, Pietro Parodi, Isobel Prowen, Anna Zlateva

Aims and objectives
The topic of this working party is currently quite vaguely defined as: Best practice in the use of new and existing quantitative (or other) methods applied to sparse data by actuaries in general insurance.
Broadly speaking the working party hopes to examine current practice, and whether current practice can be improved by the incorporation of quantitative or other actuarial techniques that are either not taught under a traditional actuarial syllabus, or are taught but not used much in practice.

Expected outcome
The ideal deliverable would be a paper serving as a 'practitioner’s guide', introducing a toolkit of statistical / quantitative techniques to be found in the academic literature, together with a consideration of the practicality and usefulness of these when applied to different non-life actuarial areas of practice. Mathematical and statistical theory supporting the paper could be supplied as an Appendix to the paper, so as to be available for reference, without overwhelming the key content, which would be primarily aimed at the non-academic practitioner.
Depending on how we progress, we could provide an article in The Actuary prior to the next GIRO, for which we could aim to present a workshop in GIRO 2010, with a view to delivering a paper in 2011.

Ratemaking, with CAS and IAAustralia - On-going (established 2009)

Membership
Chair: James Tanser
Other members:
Oscar Kitasoboka, Rikki Gold, Bhavesh Haria, Jan Iwanik, Jay Stewart, Allan Kaufman, Jordan Rubin (CAS), Julianna Shing, Dave Koob, Peter McCarthy, Louise Francis, John Lewandowski, Jefferson Gibbs, Ruth Loseby, Bart Kling, Sean O'Mara

Expected outcome

• Construct a survey of usage of ratemaking techniques used in the industry
• Analyse and distribute results
• Co-ordinate with CAS and IAAustralia

Solvency II IMAP - On-going (established 2009)

Membership
Chair: Melinda Strudwick
Other members:
Kate Angell, James Armstrong, Andrew Cox, Martin Cross, Vishal Desai, Dhruv Haria, Ian Hilder, Oscar Kitasoboka, Yan Liu, Ewa Machlarz, David Menezes, Tom Rivers, Simon Sheaf

Preliminary objectives

• Focus on practical approaches to IMAP
• Canvassing views of firms outside of the pilot process ("a within 4 walls" approach)
• Identifying how/where the wider profession can add value to the process
• To the extent possible, leverage life/risk management professions

Indicative first stage deliverables include

• Identify the key issues (mid-Nov)
• Compile survey designed to capture views on the above (20-30 questions) (by year-end)

Third Party (formerly Bodily injury) - On-going (established 2009)

Membership
Chair: David Brown
Other members:
Simon Black, Jacques DuPreez, Johathan Edwards, Grant Mitchell, Anita Morton, Karl Murphy, Richard Varley

Aims and objectives
Claims farming is a persistent and growing feature of the UK Motor Third Party claims environment. Whilst its influence was initially felt on the property damage side through Credit Hire Organisations, it is now increasingly felt on the small bodily injury side.
The working party will examine the trends on third party claims, as well examining the operation of the claims farming industry.

UK asbestos II - On-going (established 2007)
UK Asbestos II

Membership
Chair: Robert Brooks
Other members:
Brian Gravelsons, Darren Michaels, Matthew Wilde, Graham Sandhouse, Andy Whiting, Gregory Overton, Peter Taylor, Dan Beard, Charlie Kefford, Dan Sykes, Patrick Nolan, Stephen Robertson-Dunn, John Wilson, Jerome Schilling, Emiliano Ruffini, Matthew Ball, Naomi Couchman

Aims and objectives
To update the data collections as at 31 December 2008
To understand the revised population mesothelioma death data
To develop and make available, a population/insurance claim projection model for mesothelioma claims
To develop and make available, a mesothelioma average cost per claim model
To produce an update of the insurance industry estimates of the cost of UK asbestos-related claims and a comparison to those made in 2004
To produce a paper outlining these market projections, the issues considered, the assumptions made and highlighting the key uncertainties

Expected outcome
Presentation at GIRO 2009

US construction - On-going (established 2009)

Membership
Chair: Alex Panayi
Other members:
Lindsay Brignell

General Insurance Reserving Oversight Committee (GIROC): Contact - Peter Stirling (tel: 020 7632 2177, e-mail: peter.stirling@actuaries.org.uk).

Effectiveness of Reserving Methods Working Party (GI ROC) - On-going (established 2006)
Terms of reference

Membership
Chair: Steven Fisher
Other members:
Justyn Harding, Chris Marinian, David Payne, Shreyas Shah, Derek Newton, Gary Yeates, Andrew Gray, Rob Baritt, Sima Ruparelia, Glen D’Souza, Sean O’Ceallaigh, Tom Wright, Kevin Wenzell

Solvency II reserving (GI ROC) - On-going (established 2008)

Membership
Chair: Kendra Felisky
Other members:
Ayuk Akoh-Arrey, Vincent Robert, Jerome Kirk, Matthew Wheatley

Expected outcome
Presentation at GIRO 2010

Understanding the Business Better for Reserving Working Party - On-going

Membership
Chair: Hanna Kam
Other members:
Nicki Ashbee, Georgina Baker, Richard Barke, Malcolm Cleugh, Helen France, Paul Grimsey, Tim Jordan, Julianna Shing, Richard Winter

Aims and objectives

• Document a number of case studies where certain features of the business made actuarial claims reserving considerably more difficult and the reserve estimates more uncertain
• Explore the key interactions with business for more effective reserving and practical ideas to take forward
• Intended to aid nearly and recently qualified actuaries who are beginning to have significant interaction with the wider business
• Open to other contributions on case studies for documentation

Health & Care Practice Executive Committee

Contact - Pauline Simpson (tel: 01865 268 237, e-mail: pauline.simpson@actuaries.org.uk)

Actuaries' Panel on Medical Advances - On-going
The impact of mortality and lifestyle on mortality
Studying mortality trends: The IMPACT CHD policy model
The impact of medical advances and lifestyle on mortality

Membership
Chair: Howard Waters
Other members:
Angus Macdonald, Bill Baker, Tushar Chatterjee, Richard Croxon, Adrian Gallop, Robert Hangartner, Angus Macdonald, David Paul, Brian Ridsdale, Neil Robjohns

Aims and objectives
This project is a partnership between the Actuarial Profession and members of the Actuarial Mathematics & Statistics Department, Heriot-Watt University, for which funding has been awarded from the EPSRC.
It aims to:
Identify medical conditions to be studied (initially coronary heart disease) Review the literature on each condition.
Review the literature on each condition
Identify appropriate data sets.
Build a mathematical/stochastic model of the epidemiology of the condition.
Quantify, either demographically and/or financially, the effects of new treatments or trends relating to the condition.

Expected outcome
Secure funding from EPSRC by December 2003. Recruit research assistant to undertake actuarial modelling skills. Publish academic papers and disseminate findings at conferences.

Progress to date
The APMA’s project on modelling coronary heart disease completed in 2007 and a final report will be submitted to the EPSRC. Findings were presented to the New University of Lisbon, the Profession’s Health and Care Conference, the Bradford Hill Epidemiology Seminar Cambridge, the Department of Health and the University of Piraeus.
The Panel is now progressing with a new RSC-funded study on the use of Herceptin for breast cancer patients.
The APMA’s recent research and the Profession’s Mortality Scoping Study were presented at the Third Sessional Meeting of the Faculty for the 2007/2008 session held at The Royal College of Physicians, 9 Queen Street, Edinburgh on 14 January 2008.

Chronic Diseases Working Party - On-going
Investigation of the influence of socio-economic status on morbidity status for dread and chronic diseases

Membership
Chair: Joanne Alder
Other members:
Les Mayhew, Simon Moody, Richard Morris, Rajeev Shah

Critical Illness Trends Working Party - On-going
Trends in critical illness risk costs (slides)
Risk factors in insured lives mortality and critical illness experience (slides)
Current Issues in Critical Illness seminar papers (2004)
Current Issues in Critical Illness seminar papers (2005)
Current Issues in Critical Illness seminar papers (2006)

Membership
Chair: Neil Robjohns
Other members:
Dr Richard Croxon, Azim Dinani, Sue Elliott, Hamis Gallway, Richard Morris, Scott Reid, Joanne Wells

Aims and objectives
To examine underlying trends in the factors influencing UK insured CI claims rates and from these to assess:
1) the historic trend in incidence and death rates for the major critical illnesses and
2) any pointers for future trends in stand alone and accelerated CI.

Expected outcome
To produce SIAS paper

Progress to date
Presented at Health Conference 2001, 2002 and 2003
2 articles published in The Actuary
Annual Critical Illness seminars since 2004

Damages Interest Group - On-going
From lump sums to periodic payments and beyond: Conference 2005

Membership
Chair: Robert Owen
Other members:
Anthony Carus, Adrian Gallop, Chinu Patel, John Pollock, Anthony Silverman, Stuart Wilkinson

Aims and objectives
To respond to government proposals to develop income awards and other forms of structured settlements in addition to lump sum awards for personal injuries.
To advance the application of actuarial techniques to the calculation of long standing income awards in judicial settlements.
More information about the Damages Interest Group

Expected outcome
Articles/seminars

Progress to date
Conference March 2007.

Environmental Research Interest Group - On-going
Impacts of climate change on financial institutions’ medium to long term assets and liabilities (SIAS paper, 2005)
Predicting future climate change: lessons from palaeoclimatology (2007)
Other information

Membership
Chair: Nick Silver
Other members:
Finn Clawson, Jean-Bernard Crozet, Colin Czapiewski, Anthony Day, Paul Dickinson, Rebecca Dixon, Andrew Dlugolecki, Tanya Fick, Heeral Gudka, Stephan Harrison, Vanessa Hodge, Keith Lawrence, Trevor Maynard, Paul Meins, Paul Pritchard, Jamie Read, David Rochester, David Sanders, Neelish Tiwari, Paul Warren

Aims and objectives
To identify and research areas in which actuaries can become, or will need to become, involved in environmental issues.
To identify environmental factors connected to fields in which actuaries are already engaged, the potential of environmental change on these areas, and the factors that actuaries should consider when giving advice.
More information about the Environmental Research Interest Group

Expected outcome
To produce articles for The Actuary, raise awareness of the impact of environmental issues upon actuarial science.

Progress to date
A SIAS Paper has been produced on the Impact of Climate Change Upon Financial Institutions' Medium To Long Term Assets and Liabilities.
Funding agreed for production of research document on 'Using palaeoclimatology to predict future climate change'

Health & Care Reserving Working Party - On-going (established 2006)
Healthcare reserving survey initial results
PMI reserving survey results - Draft report, for discussion purposes only (Feb 2008)

Membership
Chair: Sheila Anstead
Other members:
Joanne Alder, Chris Coote, Neil Hilary, Andy Chan, Sue Elliott - consultant

Aims and objectives
Scope:
To study the reserving practices of different firms with reference to the health & care insurance products – namely critical illness (stand alone and accelerated), income protection, private medical insurance (including medical expenses and hospital cash) – with a view to determine good business practice in health & care reserving. Long-term care will be included among the products studied only if it is an interlocking product.
Territory will be UK only (at least initially) and it will cover both individual and group risk.
Issues:
The issues to be considered by the working party will include, among others:
The role of ICAs / implications for ICAs in reserving in relation to preparing for Solvency II
PS06/14 implications
Reserving methodology, for example deterministic versus stochastic
The impact of options and guarantees by product (for example, Waiver of Premiums, buy-back for accelerated CI
Allowance for data issues
FSA regulatory oversight (for example reserving and capital).

Healthcare insurance-treating customers fairly (TCF) - On-going

Membership
Other members:
Geoff Brown, Peter Gatenby, Michael Moliver, George Orros

Aims and objectives
This is a development of the Cash vs Care Working Party reported in the Annual Research Report 2003. Its objectives are:
To focus on the care aspects of healthcare insurance products (short- and long-term)
To identify different definitions of TCF among different parties to healthcare insurance products
To consider the social policy implications of these products.

Expected outcome
To be decided

Income Protection Working Party - isolating occupational, regional and socio-economic influences - On-going (established 2004)

Membership
Chair: Darshan Singh
Other members:
Johann Du Toit, Neil Meldrum, Anna Spender, Shannon Stainwright, Keith Woolnough

Aims and objectives
To deepen the actuarial profession's understanding of risk by investigating the occupational, socio-economic and geographical influences on Income Protection business.
Analyse quantitatively as much as possible using a variety of data sources.
Thorough research of publications from the UK and overseas that might be relevant.
Take into account as far as possible overlaps with other rating factors for IP e.g. gender.

Expected outcome
We aim to produce a paper and presentation for the 2007 Healthcare Conference.
We hope to complete the bulk of the work for this in Q4 2006.

Progress to date
LFS dataset purchased

Isolating the occupation, regional and socio-economic influences - On-going

Membership
Chair: Bill Baker
Other members:
Keith Woolnough, Carl Northover, Neil Meldrum, Jamie Marshall

Pandemics Working Party - On-going (established 2006)

Membership
Chair: Mike Urmston
Other members:
Joanne Alder, Ross Ainslie, Clayton Balkind, Duncan Heald, Deepak Jobanputra, Garth Lane, Chris Lewis, Joseph Lu, Brett McWilliam, David Parmee, Richard Patrick, Cheryl Russell, John P Smith, Dave Smith, Russell Ward, Keith Woolnough

Aims and objectives
1. Identify the key drivers shaping influenza pandemics in the 20th and 21st centuries
2. Consider the implications of influenza pandemics for mortality, morbidity and financial services, including the pensions and insurance industry, in the early 21st Century
3. Review publications in order to identify important and original research and place their citation details on the proposed pandemics website
4. Bring out the underlying assumptions behind different models and the approaches taken by different organisations
5. Communicate the uncertainty underlying these models and define the range of uncertainty underlying different scenarios
6. Contribute to the wider discussion about influenza pandemics among interested parties by holding and attending seminars and drafting papers.

Expected outcome
Produce Working Party reports for the profession which serve as an initial attempt to structure the overall project
Hold a seminar for the profession
Survey the relevant literature and produce a cross-referenced index of publications and internet links
Construct a webpage on the profession’s website that provides actuarial information on influenza pandemics

UK Vaccination Programme - Risk and Reward - On-going
UK vaccination programme: risk and reward (2001 slides)
The UK vaccination programme - risk and reward (2003 SIAS paper)
UK vaccination programme: risk and reward (2003 slides)

Membership
Chair: Monica Cornall
Other members:
Margaret Chan, Jan Sparks

Aims and objectives
To identify what actuaries can contribute to the study of the balance of risks (probability of experiencing adverse effect of vaccination versus risk of contracting illness by refusing vaccination) associated with vaccination programmes.
To investigate, and hence stimulate informed debate and possible further studies on the balance between risk and reward in the current UK vaccination programme from an independently informed viewpoint. We do not aim to carry out any new investigations or studies but to interpret and assimilate existing data and studies. As part of our fact-finding we will try to discover whether any organisation currently monitors the trade-off between risk and reward and what mathematical or statistical models are used.

Progress to date
The Working Party has been in existence since 2001.
Workshops at 2001 and 2003 Health & Care Conferences 'UK Vaccination Programme: Risk and Reward' SIAS Paper.

Life Practice Executive Committee

Contact - Pauline Simpson (tel: 01865 268 237, e-mail: pauline.simpson@actuaries.org.uk)

Actuarial Processes and Controls - On-going

Membership
Chair: Richard Care
Other members:
Richard Budden, Matt Cocke, David Ford, Tim Hartley, John Heenan, Dave Hobbs, Anthony Lee, Mark McCarthy, Sanjeev Pujari, Dominic Veney, Nick Watkins

Aims and objectives
To highlight key risks associated with production of actuarial reported figures
To consider how those key risks might vary between company/type of business
To develop best practice controls, focussing upon the actuarial control aspects

Expected outcome
A paper on best practice

Progress to date
Recently conducted a survey of insurers

Benchmarking for stochastic models - On-going (established 2007)

Membership
Chair: Ralph Frankland
Other members:
Kieran Barnes, Matthew Brownlie, David Dulloway, Andy Holtham, Ian Marshall, Andrew Smith, Craig Turnbull

Aims and objectives
To gain a better and wider understanding of the various methodologies that could be used for developing benchmark figures, including the advantages and disadvantages of each
To develop robust values for a variety of tables

Expected outcome
Sessional paper for presentation to the Institute on 3 November 2008 and the Faculty on 17 November 2008

Life ICA - Non-linearity, scenario testing and diversification issues in life insurance ICA's - On-going

Membership
Chair: Trevor Jones
Other members:
Tewdar Ansell, David Bird, Bryan Blunt, Andy Cope, Rob Green, Greg Pinell, Ed Rayfield, Darren Thorne

Aims and objectives
Building upon the work of the Life ICA working party, to conduct an overview of methods currently used to:
Determine diversification benefits
Allow for the impact of non-linearity
Using scenario testing to justify the diversification of benefits assumed
Consider any risks presented by the effects of a significant drop in the stock market

Expected outcome
A discussion paper suggesting a framework for best practice.

Life Office Taxation Working Party - On-going
CP207 – Tax implications of the proposals for treating with-profits policyholders fairly
Life Office Taxation Working Party report
Other information

Membership
Chair: Paul Turnbull
Other members:
Trevor Fannin, Steve Jones, Matthew Little, Andrew Rendall, Matthew Taylor

Aims and objectives
To keep the profession informed of developments in the field of Life Office Taxation.
1) To keep abreast of new developments
2) To analyse their impact
3) To inform the profession as appropriate
4) As a subsidiary objective, to consider the impact of some of the more complex aspects of UK life office taxation on actuarial work.

Expected outcome
Articles on different aspects of life office taxation in The Actuary magazine.

Progress to date
Sessions at 2000, 2001 & 2004 Life Conventions; a number of articles and columns published in The Actuary.

Management Actions in the context of realistic balance sheets - On-going
Management actions: myth or reality? (slides)

Membership
Chair: Martin Pike
Other members:
Tim Bunch, Adrian Fuller, Jonathan Pears, Ben Rowe, Matthew Lee, Gavin Coates, Iain Baker

Aims and objectives
To consider the consequences of different management actions and the advantages and disadvantages that each action has on future management of with-profits funds

Expected outcome
SIAS paper March 2007

Progress to date
Session at 2006 Life Convention

Reassurance of Mortality and Morbidity in the UK Market - On- going

Membership
Chair: Paul Murray
Other members:
Andy Chan, Andrew Gilchrist, Christopher Hancorn, Jamie Leitch, Joanne Wells, John Williamson

Aims and objectives
To investigate:
Key drivers for reinsurance
Correlation of risk within a reinsurance office
Effectiveness of credit derivatives in offsetting the risk of default
The implications for life companies’ professional guidance

Expected outcome
Session at the 2008 Life Convention

Underwriting - On-going

Membership
Chair: Jason Hurley
Other members:
tbc

Aims and objectives
To identify and quantify the risks and benefits of:
evidence based ratings and how these can be shown to be fair and robust
the impact on claims experience of changes in the underwriting process
the impact of the use of technology in underwriting
claims declined due to non disclosure
the changing regulatory regime