Results of the CMI_2020 consultation

The CMI typically releases an updated version of the CMI Mortality Projections Model each year and we expect to release the next version, CMI_2020, by the end of March 2021.

We proposed two changes in method for the CMI_2020 version of the Model, in Working Paper 137, published in September 2020, and sought feedback from Authorised Users.

Working Paper 143 summarises the responses to the consultation and describes our plans for CMI_2020:

  • Weighting mortality data for 2020: Following broad support from respondents to the consultation, we will modify the calibration process for CMI_2020 so that users could choose to place more or less weight on data for individual years. In particular the Core version of CMI_2020 will use a weight of 0% for 2020 data, and weights of 100% for all other years.
  • Change to calibration age range: Many respondents agreed with our proposal to change the calibration age range to 20-90, based on the supporting analysis in Working Paper 137. However a number of respondents noted that the analysis was sensitive to the period of data considered, and alternative analyses would justify retaining the existing approach. In light of these responses, and our further analysis, we will calibrate CMI_2020 to data for ages 20 to 100 inclusive, as in CMI_2019.

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  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

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    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.

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    The importance of biodiversity for finance, business and policy is being increasingly recognised. While many studies highlight the overall economic impact that biodiversity loss could have, it is much more difficult to quantify and understand the particular impact that is may have on individual businesses or communities. The management and measurement of these risks is a field where actuaries are well placed to contribute.

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    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.

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    This is a free webinar with an expert panel providing their views on the ongoing IFoA consultation for proposals regarding changes to the regulatory framework on climate change and sustainability.

    The regulatory consultation sets out, for feedback some proposed approaches that the IFoA are considering in relation to charter commitments under the UK’s Green Finance Education Charter (GFEC) and the regulatory framework, including the Actuaries’ Code.

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    22 November 2021 - 26 November 2021
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    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.