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The five year Actuarial Research Centre (ARC) funded programme Modelling, Measurement and Management of Longevity and Morbidity Risk has now drawn to a conclusion.
In 2021, the GI Board would like to recognise James Orr for his outstanding contribution to non-life actuarial profession.
Recently high inflation has hit the headlines. Rising prices have been affecting general insurance reserving. After years of benign inflation in many classes, intrinsically projected forward by chain-ladder-based techniques, the switch to high inflation is something to be acutely aware of this year. Have you considered the contrast between historical inflation and future prospects in these uncertain times? What claim costs are rising in your lines?
Jenni Stott provides an update on the latest Sustainability Board activities.
2021 had been a massive year for Sustainability and the IFoA Sustainability Board always knew that the 2022 agenda going to be bigger, so was hot to trot with its first meeting on 12 January 2022.
The conversation centered on
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Today’s updates cover week 52 of 2021 (25 to 31 December) and the fourth quarter of 2021, based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 11 January 2022.
The key points of these updates are:
The IFoA is delighted to announce that three members have been honoured in the UK’s New Year Honours List.
These honours are bestowed by Her Majesty the Queen in recognition of outstanding contributions to society and the public interest over the past year.
Stuart McDonald MBE
Following the introduction of Curriculum 2019 by the IFoA, the IFoA undertook a review of all our Mutual Recognition Agreements (MRA), a reciprocal agreement between actuarial bodies, which recognises each other’s professional qualifications.
Peter Tompkins provides an update from the latest board meeting
The Risk Management Board is responsible for developing and delivering the value of IFoA membership, for actuaries who work in risk management practice or who want to know about this field. The Board recently met on 14 December.
The General Insurance Insurtech Working Party has published its report "Insurtech - Applications in General Insurance". The report is a primer on recent and anticipated future developments in Insurtech, examining the likely impacts on actuarial work and the opportunities and threats it creates. It then hones in on four major insurtech themes of particular relevance to actuaries: the Internet of Things; Image, Video