CILA is one of the pre-eminent events in the annual 'Life' calendar. Due to COVID-19 we are running the programme as a series of webinars covering topics aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries and those who work in or advise on, the life assurance market in the UK and Europe. Topics covered in the webinars include actuarial data science modelling, ICS v2.0, climate risk strategy, capital management toolkits, and 2020 mortality developments.
Webinars can be booked individually by selecting the 'Programme' tab below and clicking on the webinar title.
Price: Members £15.00 | Non-Members £35
Each webinar will be 60 minutes to allow time for Q&A.
Contact Niki Park for more information.
020 7632 2152
Further sessions TBC. The booking links are hyperlinked in the below titles.
|Date: 15 July|
12.00-13.00: Growing Pains: Taking the Strain
For annuity writers, a key challenge is the need to fund capital-consumptive new business strain (NBS) as a consequence of writing the business intended to fund future distributions.
Reinsurance, investment strategy and capital provision all have roles to play. Here, we:
Speakers: Andrew Kenyon, Natwest Markets and Owen Griffiths
|Date: 16 July|
09.00-10.00: 2020 Mortality Developments Across the Profession
Mortality in 2020 is now dominated by one thing, although – in our future-focused world – the pandemic is just one of many mortality considerations. In this session, three well-regarded mortality/longevity specialists provide an overview of:
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.
|Date: 29 July|
A huge increase in data generation, data capture and data storage combined with significantly increased computing power is providing insurers with a unique opportunity to re-evaluate the value that their data can provide; and the technologies available to do that. Enabling actuaries to embrace modern day data science tools and to work closely with data scientists is an important link that could give strategic advantages to insurers in the further development of actuarial modelling software. Looking forward, the actuary will continue to evaluate key sources of data and need to find ways to incorporate data science that uses state of the art machine- learning and data technologies together with the actuary’s business insights. We need to refresh our methods and make use of emerging technological advances. Some are turning to programming languages like Julia, Python and R; among others. With the rise of open-source execution environments computational notebooks, programming is becoming more accessible and easy to use. This provides an interesting alternative for actuaries to execute large amounts of statistical calculations and see the results with the latest data visualisation techniques. Join us for an exploration session on the use of data science in insurance companies today.
During this presentation we will be exploring among other:
• Examples how insurers are making sense of and using new data sources and technologies
Speakers: Valerie Du Preez, Dupro Advisory and Rodwel Mupambirei, Lloyd's Banking Group
11.00-12.00: The Capital Management Toolkit
Efficient capital management has become a key value driver and source of competitive advantage for life insurers, particularly with the flow of private equity money into the sector.
A range of innovative capital optimisation approaches have been developed, using capital markets or structured reinsurance.
This talk will look at a range of such techniques (e.g. mass lapse risk transfer, contract boundaries, risk margin relief, non-standard longevity risk transfer) that have been applied or considered by UK and EU insurers, and the pros and cons of each.
Speakers: Paul Fulcher and Tom Bulpitt, Milliman
|Date: 3 August|
The International Association of Insurance Supervisors announced on 14 November 2019 the adoption of v2.0 of the global Insurance Capital Standard (ICS) which will undergo confidential reporting for 5 years starting from 2020. This session will include specific experiences from Legal and General (L&G) as well as global industry perspectives from EY.
This session will cover the following:
Speakers: Kenny Cheng, EY and Anthony Buck, Legal & General
12.00-13.00: Developing and Executing a Climate Risk Strategy
This session will cover:
Speakers: Ryan Allison, EY and Sandy Trust
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