The Assurances Committee released the proposed “16” Series tables for mortality (including terminal illness) and for accelerated critical illness under term assurances, based on experience data for the period 2015 to 2018, for consultation alongside Working Paper 150 in April 2021.
Working Paper 154 was released in August 2021. This paper summarises the feedback received and sets out the Committee’s response. The one aspect of the proposed rates that attracted feedback warranting further consideration was in relation to the variation in mortality experience by sum assured band. Additional analysis has therefore been undertaken, which is also set out in this paper.
An Excel spreadsheet containing the final “16” Series tables is issued alongside this paper. (The final tables are unchanged from the proposed tables.)
The Committee hosted a webinar in June 2021, which gave an overview of the “16” Series tables and brie\fly covered the cause of claim analysis and analysis of term assurances experience to mid-2020. A recording of the webinar is available to Authorised Users only.
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Cancer incidence and mortality vary by region and socioeconomic status. Modelling the structure development and trends of cancer risk is important for insurance purposes and can impact pricing and reserving in related health insurance fields such as critical illness insurance and care provision.
A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.
This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.
How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.
This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.
The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.
Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.