The CMI collects information from insurance companies and actuarial consultancies in order to carry out research into the mortality and morbidity experience of various classes of insured lives, annuitants and pensioners

The purposes for which the CMI uses the information it collects are to:

  • compare the actual mortality and morbidity experience with the expected experience based on one or more published tables
  • construct tables of mortality and morbidity functions based on analysis of aggregated data primarily for use by members of the actuarial profession
  • make estimates of future developments in mortality and morbidity rates
  • carry out other statistical investigations and research that may be useful to actuaries with regard to the conduct of long term assurance, annuity and pension business, of sickness and related insurances and of self-administered pension schemes.

The CMI uses this data to produce:

  • a summary of the data and the mortality / morbidity experience of that dataset. This is returned to the relevant data contributor and it is an integral part of CMI’s data validation, to ensure we have interpreted the data appropriately; and
  •  an anonymised dataset, in which no individual can be identified, which is used with other relevant data for further research,

The CMI makes available the results of its research by a number of means:

  • Subscribers and other Authorised Users receive an analysis of the aggregated experience of a number of data submissions, usually for a single year or for several years combined.
  • The CMI also releases the results of some of these aggregated analyses and the results of other research to Subscribers and other Authorised Users in Working Papers and other documents

In certain circumstances the CMI may supply data to universities, and others, for non-commercial research

This will be done under a Research License  which sets out the obligations of the researcher(s) and the CMI

All requests for data for research should include the following:

  • confirmation that the terms of the Research Licence will be met
  • information about what data is required
  • a summary of the purpose of the data request and the intended output.

Data will only be released for research purposes where the CMI Management Committee agrees that the proposed research may provide a worthwhile addition to actuarial knowledge. The CMI reserves the right to levy a charge for the handling of such data requests.

Any data provided for research will have been de-personalised in such form that they can no longer be considered personal data or sensitive personal data within the context of the data protection legislation. In addition, any data provided will normally be aggregated so as to preserve the confidentiality of information relating to individual life offices or pension schemes.

Occasionally the CMI may make available data that indicates, via anonymous codes, the data from individual life offices or pension schemes. Such research will only normally be undertaken at the instigation of the relevant investigation committee and the Research License requires that:

  •  published work based on the data will not include any figures that might allow an individual life office or pension scheme to be identified; and
  • a draft copy of the report will be submitted to the CMI prior to publication for approval.

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

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Events calendar

  • Spaces available

    The purpose of this research paper is to explore enterprise risk management lessons which can be learnt from the Covid-19 pandemic in preparation for potential future pandemics as well as other “gray rhino” or “black swan” events. This paper is not intended to be an all-encompassing solution to the issues presented by Covid-19; rather, the content has been provided to help drive discussions regarding how risk management processes may need to evolve in line with the dynamic nature of the underlying risks that they sometimes need to capture.

  • Spaces available

    This session is for new candidates and existing candidates where we will be discussing the practical steps you need to take leading up your exam and on the day. We will be discussing how to testing the online exam platform, downloading and uploading your paper and key information from the Exam Handbook.

    The exam webinar is for candidates, new to IFoA exams and returning candidates, sitting in the September 2022 exam session.

  • Spaces available

    The role of Non-Executive Directors has become increasingly challenging and critical over the past few years.

    Big picture thinking, Governance knowledge, Independent mindset, Ambassador potential and Energy and commitment: these are the essential skills sought in a successful NED, according to the Chartered Governance Institute (UK & Ireland).

    In parallel, Environmental, Social and Governance (ESG) criteria are increasingly key and used by investors to measure the sustainability and ethical impact of investing in an organisation.

  • Spaces available

    This webinar will cover:

    • Some background on the risks of misselling in an ESG context, including the DWS case

    • Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities

    • This tension can be resolved with a concept called Universal Ownership

    • Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities

  • How do CDC pension schemes smooth members' pensions?

    Online webinar
    23 September 2022

    Spaces available

    In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. Our recent research on CDC plans investigates the sources of the putative benefits of CDC schemes: the smoothing of pensions for members.  Using an attribution analysis to burrow into the scheme design, the reason for the smoothing of members' pensions is explained and understood.

  • Spaces available

    The IFoA's Infrastructure Working Party, led by Chris Lewin, will present its new introductory guide to infrastructure investment, which will be published on the IFoA web-site prior to the webinar.   Those readers whose institutions have already taken the plunge into infrastructure will know that it is a highly complex and diverse field of activity.   This guide does not explore all the matters which investors take into account, but it does discuss many of the more important points, including the risks and past returns, benchmarking, and ESG and SDG considerations.    Attendees will be invi

  • Social Care Agenda

    Online webinar
    11 October 2022

    Spaces available

    Social care reform has long been on the to-do list for successive governments over the last two decades. In February, the government’s proposed reforms to adult social care [including cap on care costs] was published. Against this backdrop of funding promise and rising National Insurance taxation, in this session we will debate the resilience of these new proposals, the impact of future demand for care services and what role for the insurance industry and the important role it has played in long-term care funding in other countries where public-private partnership works.

  • Health – Our Greatest Asset

    Online webinar
    2 November 2022

    Spaces available

    Health contributes to happiness at the personal, family, community and societal level.  Health, importantly underpins all our economic security. This talk will explore the drivers of our health, the measurement of health and the steps we can take to improve health – most of which lie outside the NHS.

  • GIRO Conference 2022

    ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP  
    21 November 2022 - 23 November 2022
    Spaces available

    We are delighted to announce the return of GIRO as an in-person conference, giving you an opportunity to connect with actuaries in your practice area. Join leading experts to discuss key issues, emerging ideas, and new research across the General Insurance sector.

  • Life Conference 2022

    ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP
    23 November 2022 - 25 November 2022
    Spaces available

    Life Conference returns as an in-person conference in 2022, giving you an opportunity to connect with your peers and fellow actuaries in your sector, in person. You will also hear leading experts discuss key issues, emerging ideas, and new research across the Life insurance sector.

  • Spaces available

    Mortality and morbidity risk varies by variables such as age, sex and smoking. In traditional actuarial experience analysis, these variables, and certain combinations thereof can be explored. However, with the wealth of data now available it is becoming increasingly challenging to identify the key drivers of experience and account for the interaction between different variables. A univariate approach often compares apples and pears, for example males are more likely to smoke and have larger policies than females. Likewise, variable interactions are missed unless specifically included.