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CMI Working Paper 151

Working Paper 151: Accelerated critical illness experience by cause of claim, 2015-2018

Working Paper 151 was published in June 2021. The paper contains analysis of accelerated critical illness experience under non-rated term assurance policies for the years 2015 to 2018 by cause of claim. The paper provides an overview of the dataset, describes the methodology used to derive cause-specific rates, and compares the cause-specific experience against the proposed “16” Series accelerated critical illness tables in Working Paper 150, as well as the latest cause-specific population tables (CIBT08).

There are two Excel spreadsheets issued alongside this paper:

  • The derived cause-specific diagnosis rates.This spreadsheet contains the derived cause-specific diagnosis rates and, for users’ convenience, the rates from the CIBT02 and CIBT08 population tables used in the analysis.
     
  • The dataset underlying the analysis.This dataset covers a wider age range and more causes than we considered appropriate for the derivation of the diagnosis rates and allows users to derive their own cause-specific rates.

Note: this paper and the spreadsheets are available to Authorised Users only

The Committee hosted a webinar in June 2021, which gave an overview of the proposed “16” Series tables and briefly covered the cause of claim analysis and analysis of term assurances experience to mid-2020. A recording of the webinar is now available to Authorised Users only.

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  • CILA 2022

    23 May 2022 - 24 May 2022

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    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.

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    In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.

    The Business of the AGM

  • The IFoA Conference 2022

    133 Houndsditch, London EC3A 7BX and Online
    22 June 2022 - 23 June 2022
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    We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.

     

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    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

  • Spaces available

    This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on  the expected future changes. Through examining  the transformation, we will highlight how the sector is and can use actuarial  expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.