Life

Videos and audio files of selected events and conferences relevant to Life.

If you have already paid to watch a webinar or attend an event, please follow the instructions below:

IFoA members – Please log in to the IFoA's Virtual Learning Environment (VLE) and watch the recordings there. You can access specific recordings on the VLE by clicking on the individual titles below.
If you are not a member of the IFoA please contact vle.admin@actuaries.org.uk to request access to our recordings

Life Conference Webinar Series 2021
November 2021 To read the full synopsis of each webinar please visit the Life Conference 2021 website and select the 'Schedule' tab. Plenary: The sustainability of the Insurance industry? It's debatable! – Session sponsored by Host: Ewen Tweedie, PwC – Speakers: Matt Saker, Aviva and IFoA President-Elect; Katya Maclean, Guardian Financial Services; John Taylor, IFoA Past President; Peter Heffernan, PwC Merging With-Profits Funds: Scottish Amicable and Prudential Speakers: Phil Roberts, Prudential and Stephen Makin, Hymans Robertson Healthcare Innovation: What to Expect for the Future Speakers: Dr Jack Halligan, Pacific Life Re and Ian Rowe, Pacific Life Re Approaching IFRS 17 Transition Speakers: Richard Olswang, Prudential; Ian Boyd, Deloitte; Lionel van Niekerk, Deloitte How can we help retirees achieve a sustainable income in retirement? Speakers: Fyona Murphy, Hymans Robertson; Karen Brolly, Hymans Robertson M&A - A view for Europe Speakers: Peter Ford and Richard Baddon, Deloitte Bringing analytics to life – maximising the upside, minimising the downside – Session sponsored by Speakers: Speakers: Matthew Edwards, Alastair Black and Chris Halliday, Willis Towers Watson Milliman Hot Topics Session – Session sponsored by Includes PRA QIS Exercise with Milliman Speakers: Russell Ward & Sihong Zhu • IFRS17 Fair Values with Milliman Speakers: Philip Simpson & Dilesh Patel • Equity Release Mortgages with Milliman Speakers: Robert Bugg & Florin Ginghina The crucial role of scenario and stress testing Speakers: Kanchana Kahakachchi, Peter Ford, Deloitte and Jenny Elliott, Aviva IFRS: Just over one year to go until it is (finally) live! Guest speakers: Peter Drummond, Senior Project Director at the UK Endorsement Board; Darren Clay, Senior IFRS 17 Actuary at Phoenix Speaker from the FRG: Anthony Coughlan (Chair) and Kamran Foroughi The CMI and Covid-19 Speakers: Matthew Edwards and Cobus Daneel, CMI Climate Change Assessment Exercises in the UK and EU Speakers: Natalia Mirin, Grant Thornton; Marcus Page, Grant Thornton; Conal Shirazi, Grant Thornton Waking up to Nature – the biodiversity imperative in financial services Speakers: Sandy Trust, EY and Ryan Allison, Phoenix Group Developments in Part VII transfers and Schemes of Arrangement from the point of view of legal experts and the Independent Expert Speakers: Oliver Gillespie, Milliman and Hammad Akhtar, Pinsent Masons Hidden depths – why the PRA is looking again at the liquidity premium Speakers: Dan Georgescu, Wendy Fu and John Taylor, Bank of England

Life Conference Webinar Series 2021

November 2021

To read the full synopsis of each webinar please visit the Life Conference 2021 website and select the 'Schedule' tab.

Plenary: The sustainability of the Insurance industry? It's debatable! – Session sponsored by

Host: Ewen Tweedie, PwC – Speakers: Matt Saker, Aviva and IFoA President-Elect; Katya Maclean, Guardian Financial Services; John Taylor, IFoA Past President; Peter Heffernan, PwC

Merging With-Profits Funds: Scottish Amicable and Prudential
Speakers: Phil Roberts, Prudential and Stephen Makin, Hymans Robertson

Healthcare Innovation: What to Expect for the Future
Speakers: Dr Jack Halligan, Pacific Life Re and Ian Rowe, Pacific Life Re

Approaching IFRS 17 Transition
Speakers: Richard Olswang, Prudential; Ian Boyd, Deloitte; Lionel van Niekerk, Deloitte

How can we help retirees achieve a sustainable income in retirement?
Speakers: Fyona Murphy, Hymans Robertson; Karen Brolly, Hymans Robertson

M&A - A view for Europe
Speakers: Peter Ford and Richard Baddon, Deloitte

Bringing analytics to life – maximising the upside, minimising the downside – Session sponsored by
Speakers: Speakers: Matthew Edwards, Alastair Black and Chris Halliday, Willis Towers Watson

Milliman Hot Topics Session – Session sponsored by
Includes PRA QIS Exercise with Milliman Speakers: Russell Ward & Sihong Zhu • IFRS17 Fair Values with Milliman Speakers: Philip Simpson & Dilesh Patel • Equity Release Mortgages with Milliman Speakers: Robert Bugg & Florin Ginghina

The crucial role of scenario and stress testing
Speakers: Kanchana Kahakachchi, Peter Ford, Deloitte and Jenny Elliott, Aviva

IFRS: Just over one year to go until it is (finally) live!
Guest speakers: Peter Drummond, Senior Project Director at the UK Endorsement Board; Darren Clay, Senior IFRS 17 Actuary at Phoenix
Speaker from the FRG: Anthony Coughlan (Chair) and Kamran Foroughi

The CMI and Covid-19
Speakers: Matthew Edwards and Cobus Daneel, CMI

Climate Change Assessment Exercises in the UK and EU
Speakers: Natalia Mirin, Grant Thornton; Marcus Page, Grant Thornton; Conal Shirazi, Grant Thornton

Waking up to Nature – the biodiversity imperative in financial services
Speakers: Sandy Trust, EY and Ryan Allison, Phoenix Group

Developments in Part VII transfers and Schemes of Arrangement from the point of view of legal experts and the Independent Expert
Speakers: Oliver Gillespie, Milliman and Hammad Akhtar, Pinsent Masons

Hidden depths – why the PRA is looking again at the liquidity premium
Speakers: Dan Georgescu, Wendy Fu and John Taylor, Bank of England

Chief Actuaries webinar series
Hybrid working and how it affects actuarial teams This session examines the megatrends and themes driving the Future of Work across the Financial Services industry, and how Covid-19 has accelerated new future work priorities with a particular focus on hybrid work and leadership mindset and capabilities. This session is recommended for leaders who are interested in learning more about the emerging future of work implications, what this means for your organisation, and practical next steps. Assumption setting in the light of COVID In this session, Andrew Gaches, Stuart McDonald and Dan Ryan of the COVID-19 Actuaries Response Group discuss actuarial work in the light of the COVID-19 pandemic, with a particular focus on assumption setting. What will be the medium term impacts of the pandemic and our response to it? What use can currently be made of techniques like experience analysis, that have historically served actuaries well, if recent data is exceptional and the future does not look like the past? This session is aimed at senior actuaries and will be of particular interest to those involved in setting, reviewing, approving or auditing actuarial assumptions.

Chief Actuaries webinar series

Hybrid working and how it affects actuarial teams
This session examines the megatrends and themes driving the Future of Work across the Financial Services industry, and how Covid-19 has accelerated new future work priorities with a particular focus on hybrid work and leadership mindset and capabilities. This session is recommended for leaders who are interested in learning more about the emerging future of work implications, what this means for your organisation, and practical next steps.

Assumption setting in the light of COVID
In this session, Andrew Gaches, Stuart McDonald and Dan Ryan of the COVID-19 Actuaries Response Group discuss actuarial work in the light of the COVID-19 pandemic, with a particular focus on assumption setting. What will be the medium term impacts of the pandemic and our response to it? What use can currently be made of techniques like experience analysis, that have historically served actuaries well, if recent data is exceptional and the future does not look like the past? This session is aimed at senior actuaries and will be of particular interest to those involved in setting, reviewing, approving or auditing actuarial assumptions.

CILA 2021
IFRS 17 Discount Rates – Insights and Implications Members of the IFoA IFRS 17: Future of Discount Rates Working party will present key highlights from their research on discount rate related issues arising under IFRS 17. The webinar will be interactive, with live polls, and an opportunity for Q&A. The session will: Provide a brief overview of the requirements of IFRS 17 on discount rates. Highlight some key topical challenges practitioners are likely to encounter in setting discount rates, for example: The alignment between discount rates for direct business and reinsurance held. The extent to which economic assumptions other than discount rates need to be locked-in under the General Model. Approaches to reflect the characteristics of insurance liabilities in determining the liquidity premium. Operational considerations in determining and implementing discount rates Illustrate the implications of the requirements, for example: The impact of using a locked-in rate for the CSM for annuity business. How the income statement will be affected by the discount rate methodology. Meeting the IFRS 17 disclosure requirements Insights on corporate responses to mitigate climate risks Developing an awareness of how firms are reacting to the challenge of climate change, and hence their long term profitability, is a key building block to understand how asset values will react going forward and in different climate change scenarios. Simon Miller and Tom Curtis, co-founders and Partners of 3Keel LLP, will provide an overview and examples of the current actions from corporates, ranging from fast moving consumer goods to utilities. They will explain corporate science-based targets, and what the recent advent of 'net zero' commitments means in practice. From their perspectives as sustainability advisors, they will share insights on the drivers for action from a corporate point of view, including how heightened interest from institutional investors in climate exposure is becoming a material influence on decision-making. Innovation in insurance – what does the future look like? Do you hear lots of technology-related buzzwords? Do you ever wonder how these may relate to Life Insurance and your day job? Do you consider why Life Insurance seems to lag between other areas of Insurance with respect to innovation and embracing technology? During this interactive session, we will unpack these questions and discuss how this is all relevant to us as Life practitioners. We will highlight some live applications of new technologies and techniques that are currently in use, or in development, within the Life Industry which have addressed real issues which could easily apply to you too. These use cases will range from the adoption of some of the latest technologies offered by vendors, through to in-house application development and the use of Blockchain, natural language programming and advanced analytics. We will look at GI and whether there are lessons that we can learn. And we will look at the growing insure-tech market and discuss the rate at which life insurers may need to innovate in order to compete in the future. LIBOR transition: The final countdown The discontinuation of LIBOR is rapidly approaching. While several financial service operators are exposed to the reform only on the asset side, insurance firms operating under Solvency II present also an indirect exposure because of the methodology used to derive Solvency II risk-free rate curves. We will share our perspectives on the status of insurance firms’ transition programmes, the overall level of preparedness and biggest areas of focus to date. We will finally illustrate how technology can help with identifying LIBOR dependencies in spreadsheets, in particular, to determine the extent of exposure to LIBOR related calculations and then interpret this exposure into actionability and an informed remediation plan. Equitable Life: Case Study The speakers will provide a practical case study of Equitable Life's (ELAS) with profits conversion and transfer to Utmost life. It provides background and context for the conversion of With-Profits business to Unit-linked, including de-risking actions taken since the 2000 landmark court judgement and alternatives that were considered. The speakers will discuss key considerations when designing, developing and implementing the scheme and the engagement with stakeholders including the regulators, lawyers, independent experts, policyholders etc. The talk will comment on some of the issues and challenges faced throughout this process (a simultaneous scheme of arrangement, change in articles and Part VII transfer) which was an industry first. It will also cover some practical measures taken to navigate these for the diverse portfolio of UK, Irish and German With-Profits business against a rapidly changing background including Brexit and the Pru-Rothesay judgement. CIO Discussion Panel – lessons from COVID and looking to the future In this panel discussion, we get expert views from three leading investment professionals in the UK insurance industry. We take a look at how they and their firms have been impacted by COVID-19, growth ambitions for illiquid assets and the increasingly important role of ESG in portfolio construction and governance. Global Insights for Improving UK Solvency II Following the Treasury consultation on reforming Solvency II in the UK, a selection of areas have been identified as warranting further investigation. We look at how risk-based capital regulations are emerging globally for insights into potential ways that the UK industry may wish to take these areas forward, with a particular focus on Hong Kong where the life and health insurance market is thriving and the new regulations promote strong risk management but allow insurers to remain commercial and competitive.

CILA 2021

IFRS 17 Discount Rates – Insights and Implications
Members of the IFoA IFRS 17: Future of Discount Rates Working party will present key highlights from their research on discount rate related issues arising under IFRS 17. The webinar will be interactive, with live polls, and an opportunity for Q&A. The session will: Provide a brief overview of the requirements of IFRS 17 on discount rates. Highlight some key topical challenges practitioners are likely to encounter in setting discount rates, for example: The alignment between discount rates for direct business and reinsurance held. The extent to which economic assumptions other than discount rates need to be locked-in under the General Model. Approaches to reflect the characteristics of insurance liabilities in determining the liquidity premium. Operational considerations in determining and implementing discount rates Illustrate the implications of the requirements, for example: The impact of using a locked-in rate for the CSM for annuity business. How the income statement will be affected by the discount rate methodology. Meeting the IFRS 17 disclosure requirements

Insights on corporate responses to mitigate climate risks
Developing an awareness of how firms are reacting to the challenge of climate change, and hence their long term profitability, is a key building block to understand how asset values will react going forward and in different climate change scenarios. Simon Miller and Tom Curtis, co-founders and Partners of 3Keel LLP, will provide an overview and examples of the current actions from corporates, ranging from fast moving consumer goods to utilities. They will explain corporate science-based targets, and what the recent advent of 'net zero' commitments means in practice. From their perspectives as sustainability advisors, they will share insights on the drivers for action from a corporate point of view, including how heightened interest from institutional investors in climate exposure is becoming a material influence on decision-making.

Innovation in insurance – what does the future look like?
Do you hear lots of technology-related buzzwords? Do you ever wonder how these may relate to Life Insurance and your day job? Do you consider why Life Insurance seems to lag between other areas of Insurance with respect to innovation and embracing technology? During this interactive session, we will unpack these questions and discuss how this is all relevant to us as Life practitioners. We will highlight some live applications of new technologies and techniques that are currently in use, or in development, within the Life Industry which have addressed real issues which could easily apply to you too. These use cases will range from the adoption of some of the latest technologies offered by vendors, through to in-house application development and the use of Blockchain, natural language programming and advanced analytics. We will look at GI and whether there are lessons that we can learn. And we will look at the growing insure-tech market and discuss the rate at which life insurers may need to innovate in order to compete in the future.

LIBOR transition: The final countdown
The discontinuation of LIBOR is rapidly approaching. While several financial service operators are exposed to the reform only on the asset side, insurance firms operating under Solvency II present also an indirect exposure because of the methodology used to derive Solvency II risk-free rate curves. We will share our perspectives on the status of insurance firms’ transition programmes, the overall level of preparedness and biggest areas of focus to date. We will finally illustrate how technology can help with identifying LIBOR dependencies in spreadsheets, in particular, to determine the extent of exposure to LIBOR related calculations and then interpret this exposure into actionability and an informed remediation plan.

Equitable Life: Case Study
The speakers will provide a practical case study of Equitable Life's (ELAS) with profits conversion and transfer to Utmost life. It provides background and context for the conversion of With-Profits business to Unit-linked, including de-risking actions taken since the 2000 landmark court judgement and alternatives that were considered. The speakers will discuss key considerations when designing, developing and implementing the scheme and the engagement with stakeholders including the regulators, lawyers, independent experts, policyholders etc. The talk will comment on some of the issues and challenges faced throughout this process (a simultaneous scheme of arrangement, change in articles and Part VII transfer) which was an industry first. It will also cover some practical measures taken to navigate these for the diverse portfolio of UK, Irish and German With-Profits business against a rapidly changing background including Brexit and the Pru-Rothesay judgement.

CIO Discussion Panel – lessons from COVID and looking to the future

In this panel discussion, we get expert views from three leading investment professionals in the UK insurance industry. We take a look at how they and their firms have been impacted by COVID-19, growth ambitions for illiquid assets and the increasingly important role of ESG in portfolio construction and governance.

Global Insights for Improving UK Solvency II
Following the Treasury consultation on reforming Solvency II in the UK, a selection of areas have been identified as warranting further investigation. We look at how risk-based capital regulations are emerging globally for insights into potential ways that the UK industry may wish to take these areas forward, with a particular focus on Hong Kong where the life and health insurance market is thriving and the new regulations promote strong risk management but allow insurers to remain commercial and competitive.

2021
Transactions and fund restructuring - maintaining momentum in a changed landscape This discussion revolves around the latest industry developments including introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events) insights and lessons from recent with-profit transactions and restructurings (including Equitable Life and Pru-Rothesay) how firms can apply these learnings to future arrangements the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)
The price is righter This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models).
Integrated resilience: The future of Recovery and Resolution Planning [RRP] This webinar focuses on Recovery and Resolution Planning (RRP) including the evolution of the regulatory landscape, a view of current market practices and consideration of what lessons can be learned from Covid-19. The talk also considers whether going forward there may be value in integrating financial and operational resilience activity.
Implications of Climate Change for Life Insurer's Risk Modelling and Strategic Asset Allocation In this webinar we discuss the strengths and weaknesses of various climate-based scenario analysis methodologies, assess the long-term macroeconomic effects of climate change across a range of countries and highlight the use of carbon prices as a financial factor to help assess the impact of transition risk on the economy and investment portfolios.
Guarantees in Retail Products – Do they have a Future in the UK? This webinar presented the findings of the Working Party, including: whether long term insurance guarantees have a future in the UK what, if anything, could be done to make them more attractive to customers.

2021

Transactions and fund restructuring - maintaining momentum in a changed landscape

This discussion revolves around the latest industry developments including introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events) insights and lessons from recent with-profit transactions and restructurings (including Equitable Life and Pru-Rothesay) how firms can apply these learnings to future arrangements the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)

The price is righter

This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models).

Integrated resilience: The future of Recovery and Resolution Planning [RRP]

This webinar focuses on Recovery and Resolution Planning (RRP) including the evolution of the regulatory landscape, a view of current market practices and consideration of what lessons can be learned from Covid-19. The talk also considers whether going forward there may be value in integrating financial and operational resilience activity.

Implications of Climate Change for Life Insurer's Risk Modelling and Strategic Asset Allocation

In this webinar we discuss the strengths and weaknesses of various climate-based scenario analysis methodologies, assess the long-term macroeconomic effects of climate change across a range of countries and highlight the use of carbon prices as a financial factor to help assess the impact of transition risk on the economy and investment portfolios.

Guarantees in Retail Products – Do they have a Future in the UK?

This webinar presented the findings of the Working Party, including: whether long term insurance guarantees have a future in the UK what, if anything, could be done to make them more attractive to customers.

2020
Life Conference 2020 To read the full synopsis of each webinar please visit the Life Conference 2020 website and select the 'Programme' tab. Organising Committee Chair and Presidential Welcome Free to view Life Board update for Life Conference 2020 Free to view Pre-recorded sessions exclusive for Life Conference 2020 2030 – a view from the future - lessons in resilience and climate change risk management Speakers: Russell Bowdrey, Aviva and Sandy Trust, EY Covid-19 – where are we now? A medical and an actuarial perspective Speakers: Adele Groyer and John O'Brien, Gen Re IFRS 17: So far, but we have another year to 2023! Speakers: Anthony Coughlan, PwC, Kamran Foroughi, Willis Towers Watson and Darren Clay, Phoenix Group Recent CMI activity: Implications of COVID-19 for future mortality Speaker: Matthew Edwards, Cobus Daneel and Steve Bale Shining a light on the “black box” of price optimisation Speakers: Stephen Carlin, Montoux and Ewen Tweedie, PwC Part VII transfers in the current environment Speakers: Oliver Gillespie, Milliman and Hammad Akhtar, Pinsent Masons LLP Onboarding With-Profits: All in to last out Speakers: Craig Burns, Scottish Friendly and Stephen Makin, Hymans Robertson GBP inflation & the RPI curve: A tale of two halves Speakers: Harriet Dunscombe; Carina Lindberg, Natwest Markets and Kelly Moohan, The Pension Protection Fund AI in an actuarial world: training a machine to assess matching adjustment eligibility Speakers: Rachael Armitage, Deloitte and Simone Bohnenberger-Rich, Eigen With-Profits - current areas of focus: A panel discussion Speakers: Catherine Thorn, ReAssure, Kris Overlunde, PwC, Jonathan Welsh, Wesleyan and Wei Tham, KPMG Chair: Philippe Guijarro, PwC Sustainability and climate change: I’d like to help – but I’m an actuary Speakers: Sandy Trust, EY, Patrick Cleary, PRA, Matt Saker, Aviva and Wendy Walford, Legal & General An alternative take on how to be 'professional' Speaker: Peter Heffernan and Rod Bryn-Hussey, PwC Changes in insurers investment strategies Speakers: Richard Wilson, Charlie Hibbert and Sam Tufts, EY Weathering the Climate storm - creating an enhanced disclosure and climate scenario testing Speaker: Dhiran Dookhi, Willis Towers Watson IFRS17 – how do we explain ourselves better? Tackling analysis of change Speakers: Patrick Rowland, Zaid Hoosain and Richa Mathur, KPMG The greatest threat to with-profits Speaker: Stephen Dixon, Steve Dixon Associates LLP and Peter Green, Healthy Investment ESG and climate change integration – the journey for life insurers Speakers: Clarence Er, Hymans Robertson and Sindhu Krishna, The Phoenix Group Application of machine learning techniques to financial reporting Andrii Buriak, EY and Rodwel Mupambirei, Lloyds Banking Group What's a 1-in-200 year stress when you're in a market downturn? Speaker: Shaun Lazzari, Legal & General Integrating ESG into long-term strategic asset allocation Speaker: Craig Mackenzie, Aberdeen Standard Investments
The IFRS 17 Contractual Service Margin: A Life Insurance Perspective Delivered by the IFRS 17 Contractual Service Margin working party. Over the past two years, in the backdrop of an evolving standard, the IFRS 17 Contractual Service Margin (CSM) Working Party has been analysing the various approaches, impacts, and challenges that life insurers will need to carefully work through when calculating the CSM. Over the course of this time, the Working Party has amassed a strong global following by regularly sharing its findings on a number of topics and with the issuance of final amendments to IFRS 17, presented their sessional paper in this webinar that covered topics including coverage units, reinsurance contracts held, treatment of with-profits, and of course, the different transition approaches. Speakers: Wijdan Yousuf Brendon Thorpe Joanna Stansfield Kruti Malde Natalia Mirin Rob Walton Leong Tan.
Revised IFRS 17 – Implications for Insurers and Actuaries The session addressed questions such as ‘What are the latest changes’ and ‘What does IFRS 17 mean for the insurance industry?’ Keynote speaker: Darrel Scott, IASB Board member Other speakers and Chair from FRG: Anthony Coughlan, Kamran Foroughi, Alice Boreman
Current Issues in General Assurance (CILA) 2020 Webinar Series July/August 2020 To read the full synopsis of each webinar please visit the CILA 2020 webinar series page and select the 'Programme' tab Developing and Executing a Climate Risk Strategy Speakers: Ryan Allison and Sandy Trust, EY Global Capital Standards – What does the Adoption of ICS v2.0 Mean? Speakers: Kenny Cheng, EY and Anthony Buck, Legal & General The Capital Management Toolkit Speakers: Paul Fulcher and Tom Bulpitt, Milliman Are we in the Era of Actuarial Data Science Modelling? Speakers: Valerie Du Preez, Dupro Advisory and Rodwel Mupambirei, Lloyd's Banking Growing Pains: Taking the Strain Speakers: Andrew Kenyon, Natwest Markets and Owen Griffiths Mortality Developments Across the Profession Speakers: Matthew Edwards is Chair of the CMI and co-leads the COVID-19 Actuaries Response Group; Steve Bale is a member of the Mortality Projections Committee and is coordinating the CMI’s COVID-19 response; Sacha Dhamani is Chair of the MRSC.
FTI Consulting Webinar in partnership with the IFoA: Insurers – How to Win on the Rebound 16 July 2020 This webinar discussed the strategic, operational and capital challenges insurers are facing and how careful, considered communication is now more vital than ever as part of a thoughtful debate amongst senior, experienced industry practitioners. Led by some of FTI Consulting’s sector experts; Lance Burbidge, Angela Darlington, Allister Fowler, and Graham Handy.
Extreme Mortality Events Webinar Series Extreme Mortality Events – How Bad is Coronavirus? This topical webinar presented by Chair of the Life Board of the Institute and Faculty of Actuaries, Colin Dutkiewicz, explored what is an extreme mortality event and how does the current Covid-19 outbreak compare with other extreme mortality events. It also looked at the impact of this outbreak for insurers – and the wider economy and what we can expect to happen next. What to look out for in Terms of Poor Model Selection and Calibration This discussion looked at what poor model selection and calibration could look like – using inappropriate historical data; using incorrect 2020 mortality data; inappropriate stochastic model recalibration (or lack thereof). What about being prudent vs setting a best estimate? How do you allow for tail risks during a tail risk event? Speakers: Maksud Patel and Colin Dutkiewicz Why R0 is the Most Dangerous Number to Use? This discussion will have a look at the much talked about R0 number. It will dissect why this average number is so poorly understood, and why it is a bad indicator of the pandemic progression. In particular, it will discuss how serious errors in decision making can be made by relying on this number. Challenging Conventional Wisdom – What Currently Accepted ‘Truths’ About COVID-19 Are Wrong? Every scientific expert you ask about COVID-19 will preface their comments by the fact that SARS-CoV-2, the virus that leads to COVID-19, is a novel virus and we just don’t know. But this doesn’t stop us from grabbing onto pieces of information and building our understanding around these ‘assumed facts’. What if people aren’t asymptomatically infectious? What if herd immunity is in fact strong? What if children can get sick from the virus? This presentation aims to discuss many of these ‘assumed truths’ and challenge them as a way of helping us think more broadly about the pandemic and its impact on society and the narrower topic of insurance company experience.
Highlights of the Life Conference 2019 11 March 2020 If you attended this conference you cannot claim CPD for watching the conference videos online. To read the full synopsis of each session please visit the Highlights of the Life Conference 2019 page and select the 'Programme' tab Plenary 1: Embedding climate change risk – experiences and insights B1: IFRS 17 – Where are we and what are the key issues facing the UK life industries? C2: Are we really all the same? Evolving baseline and longevity improvement trends D2: Dementia and insurance: cognitive protection Plenary 2: Unlocking the Code: Speaking Up, Conflicts of interest and AMS

2020

Life Conference 2020

To read the full synopsis of each webinar please visit the Life Conference 2020 website and select the 'Programme' tab.

Organising Committee Chair and Presidential Welcome
Free to view

Life Board update for Life Conference 2020
Free to view

Pre-recorded sessions exclusive for Life Conference 2020

2030 – a view from the future - lessons in resilience and climate change risk management
Speakers: Russell Bowdrey, Aviva and Sandy Trust, EY

Covid-19 – where are we now? A medical and an actuarial perspective
Speakers: Adele Groyer and John O'Brien, Gen Re

IFRS 17: So far, but we have another year to 2023!
Speakers: Anthony Coughlan, PwC, Kamran Foroughi, Willis Towers Watson and Darren Clay, Phoenix Group

Recent CMI activity: Implications of COVID-19 for future mortality
Speaker: Matthew Edwards, Cobus Daneel and Steve Bale

Shining a light on the “black box” of price optimisation
Speakers: Stephen Carlin, Montoux and Ewen Tweedie, PwC

Part VII transfers in the current environment
Speakers: Oliver Gillespie, Milliman and Hammad Akhtar, Pinsent Masons LLP

Onboarding With-Profits: All in to last out
Speakers: Craig Burns, Scottish Friendly and Stephen Makin, Hymans Robertson

GBP inflation & the RPI curve: A tale of two halves
Speakers: Harriet Dunscombe; Carina Lindberg, Natwest Markets and Kelly Moohan, The Pension Protection Fund

AI in an actuarial world: training a machine to assess matching adjustment eligibility
Speakers: Rachael Armitage, Deloitte and Simone Bohnenberger-Rich, Eigen

With-Profits - current areas of focus: A panel discussion
Speakers: Catherine Thorn, ReAssure, Kris Overlunde, PwC, Jonathan Welsh, Wesleyan and Wei Tham, KPMG
Chair: Philippe Guijarro, PwC

Sustainability and climate change: I’d like to help – but I’m an actuary
Speakers: Sandy Trust, EY, Patrick Cleary, PRA, Matt Saker, Aviva and Wendy Walford, Legal & General

An alternative take on how to be 'professional'
Speaker: Peter Heffernan and Rod Bryn-Hussey, PwC

Changes in insurers investment strategies
Speakers: Richard Wilson, Charlie Hibbert and Sam Tufts, EY

Weathering the Climate storm - creating an enhanced disclosure and climate scenario testing
Speaker: Dhiran Dookhi, Willis Towers Watson

IFRS17 – how do we explain ourselves better? Tackling analysis of change
Speakers: Patrick Rowland, Zaid Hoosain and Richa Mathur, KPMG

The greatest threat to with-profits
Speaker: Stephen Dixon, Steve Dixon Associates LLP and Peter Green, Healthy Investment

ESG and climate change integration – the journey for life insurers
Speakers: Clarence Er, Hymans Robertson and Sindhu Krishna, The Phoenix Group

Application of machine learning techniques to financial reporting
Andrii Buriak, EY and Rodwel Mupambirei, Lloyds Banking Group

What's a 1-in-200 year stress when you're in a market downturn?
Speaker: Shaun Lazzari, Legal & General

Integrating ESG into long-term strategic asset allocation
Speaker: Craig Mackenzie, Aberdeen Standard Investments

The IFRS 17 Contractual Service Margin: A Life Insurance Perspective

Delivered by the IFRS 17 Contractual Service Margin working party. Over the past two years, in the backdrop of an evolving standard, the IFRS 17 Contractual Service Margin (CSM) Working Party has been analysing the various approaches, impacts, and challenges that life insurers will need to carefully work through when calculating the CSM. Over the course of this time, the Working Party has amassed a strong global following by regularly sharing its findings on a number of topics and with the issuance of final amendments to IFRS 17, presented their sessional paper in this webinar that covered topics including coverage units, reinsurance contracts held, treatment of with-profits, and of course, the different transition approaches. Speakers: Wijdan Yousuf Brendon Thorpe Joanna Stansfield Kruti Malde Natalia Mirin Rob Walton Leong Tan.

Revised IFRS 17 – Implications for Insurers and Actuaries

The session addressed questions such as ‘What are the latest changes’ and ‘What does IFRS 17 mean for the insurance industry?’
Keynote speaker: Darrel Scott, IASB Board member Other speakers and Chair from FRG: Anthony Coughlan, Kamran Foroughi, Alice Boreman

Current Issues in General Assurance (CILA) 2020 Webinar Series

July/August 2020

To read the full synopsis of each webinar please visit the CILA 2020 webinar series page and select the 'Programme' tab

Developing and Executing a Climate Risk Strategy
Speakers: Ryan Allison and Sandy Trust, EY

Global Capital Standards – What does the Adoption of ICS v2.0 Mean?
Speakers: Kenny Cheng, EY and Anthony Buck, Legal & General

The Capital Management Toolkit
Speakers: Paul Fulcher and Tom Bulpitt, Milliman

Are we in the Era of Actuarial Data Science Modelling?
Speakers: Valerie Du Preez, Dupro Advisory and Rodwel Mupambirei, Lloyd's Banking

Growing Pains: Taking the Strain
Speakers: Andrew Kenyon, Natwest Markets and Owen Griffiths

Mortality Developments Across the Profession
Speakers: Matthew Edwards is Chair of the CMI and co-leads the COVID-19 Actuaries Response Group; Steve Bale is a member of the Mortality Projections Committee and is coordinating the CMI’s COVID-19 response; Sacha Dhamani is Chair of the MRSC.

FTI Consulting Webinar in partnership with the IFoA: Insurers – How to Win on the Rebound

16 July 2020

This webinar discussed the strategic, operational and capital challenges insurers are facing and how careful, considered communication is now more vital than ever as part of a thoughtful debate amongst senior, experienced industry practitioners. Led by some of FTI Consulting’s sector experts; Lance Burbidge, Angela Darlington, Allister Fowler, and Graham Handy.

Extreme Mortality Events Webinar Series

Extreme Mortality Events – How Bad is Coronavirus?
This topical webinar presented by Chair of the Life Board of the Institute and Faculty of Actuaries, Colin Dutkiewicz, explored what is an extreme mortality event and how does the current Covid-19 outbreak compare with other extreme mortality events. It also looked at the impact of this outbreak for insurers – and the wider economy and what we can expect to happen next.

What to look out for in Terms of Poor Model Selection and Calibration
This discussion looked at what poor model selection and calibration could look like – using inappropriate historical data; using incorrect 2020 mortality data; inappropriate stochastic model recalibration (or lack thereof). What about being prudent vs setting a best estimate? How do you allow for tail risks during a tail risk event? Speakers: Maksud Patel and Colin Dutkiewicz

Why R0 is the Most Dangerous Number to Use?
This discussion will have a look at the much talked about R0 number. It will dissect why this average number is so poorly understood, and why it is a bad indicator of the pandemic progression. In particular, it will discuss how serious errors in decision making can be made by relying on this number.

Challenging Conventional Wisdom – What Currently Accepted ‘Truths’ About COVID-19 Are Wrong?
Every scientific expert you ask about COVID-19 will preface their comments by the fact that SARS-CoV-2, the virus that leads to COVID-19, is a novel virus and we just don’t know. But this doesn’t stop us from grabbing onto pieces of information and building our understanding around these ‘assumed facts’. What if people aren’t asymptomatically infectious? What if herd immunity is in fact strong? What if children can get sick from the virus? This presentation aims to discuss many of these ‘assumed truths’ and challenge them as a way of helping us think more broadly about the pandemic and its impact on society and the narrower topic of insurance company experience.

Highlights of the Life Conference 2019

11 March 2020

If you attended this conference you cannot claim CPD for watching the conference videos online. To read the full synopsis of each session please visit the Highlights of the Life Conference 2019 page and select the 'Programme' tab

2019
Life Conference 2019 20-22 November 2019 If you attended this conference you cannot claim CPD for watching the conference videos online. Didn't attend the seminars? Plenary 4 – Professional Skills – The Trusted Actuary Workshop B1 - Impact of IFRS 17 for the UK Insurance Market Workshop D6 - Disruption in the Life sector: How are UK Life insurers turning threats into opportunities? Workshop F1 - Deep dive into liquidity risk management – developing a robust framework Workshop G2 - Data science: Practical applications in Life (re)insurance Workshop H5 - Distant emerging risks

2019

Life Conference 2019

20-22 November 2019