The science of epidemic handling and response has long been an area of actuarial expertise.
With an increasingly connected and complex world a pandemic can impact our health, wellbeing, and livelihood from many different perspectives and in ways that can be difficult to predict. The multi-faceted influence of Covid-19 reflects the extent to which the work of actuaries and the industries that we work in are also impacted; this is an extreme event that actuaries from all Practice Areas may need to consider carefully in their work – from the obvious healthcare aspect to the wider economic fallout through falling asset values and challenging investment markets, to the non-life insurance industry facing claims for business interruption, travel disruption and legal liability challenges, to risk management practitioners trying to bring it all together.
As the global response to the COVID-19 (coronavirus) gathers pace, our IFoA Pandemics Hub aims to provide the actuarial perspective on epidemic mitigation and control. Gathering together the most relevant research, articles, and insight on the subject from recognised experts; this resource is designed to ensure our members are fully appraised as to the actuarial approach.
"At times like this, the IFoA has a significant role to play in both supporting our members and responding to the wider societal challenges. The IFoA COVID-19 Action Task Force aims to provide a range of outputs to support our members across all practice areas. We also seek to provide actuarial insight that could help and inform our members and others and contribute towards managing the impacts of this crisis."
Dr Louise Pryor
Incoming IFoA President-elect
Please see the IFoA’s Coronavirus Policy for our latest operational response to the current COVID-19 epidemic.
Resources and debate
Find out more about how the profession is responding to the COVID-19 pandemic.
Filter or search events
This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.
This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.
Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.
Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.
Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year
The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.
Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.
We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.