Latest IFoA news
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Southampton Data Science Academy to deliver IFoA Certificate in Data Science
23 January 2020
The IFoA is delighted to announce that they will be working with the Southampton Data Science Academy (SDSA) to deliver our certificate in data science.
This new standalone credential, launches in the first quarter of this year, and will offer our members a practical introduction to the concepts, tools and techniques of data science within an actuarial context.
Autonomous Vehicles and their impact on the wider insurance market
21 January 2020
The IFoA and the Autonomous Vehicles working Party hosted a sessional on the subject of “Autonomous Vehicles and their impact on the wider insurance market”. The sessional was well attended with a format which induced active participation by the audience and the panel.
GIRO 2020 in Liverpool
21 January 2020
The GI Lifelong Learning Committee is delighted to announce the IFoA’s GIRO 2020 conference will take place on 19-21 October at ACC Liverpool.
With a mixture of workshops and plenary sessions, GIRO 2020 is a great opportunity to keep up to date with emerging research, discuss key issues in the insurance market and build your network with other professionals in the industry.
Practical Data Science for Actuarial tasks- A practical example of data science considerations
21 January 2020
Actuaries are increasingly looking to explore data science techniques as a way to deliver new insights, utilise new datasets and develop complex models efficiently. However challenges remain to integrate these new techniques into the standard actuarial toolkit. A key challenge for actuaries is to understand the steps involved in a typical data science project, including how to create a robust framework for developing and reviewing advanced statistical models.
Feedback from Health and Care Hot Topics – November 2019
20 January 2020
On 4 November 2019 I chaired a Sessional meeting for the Health and Care practice area. Hot Topics in Health and Care is an established annual event covering two or three varied topics. Authors write a short paper which is made available before the event and they present their findings to attendees from the actuarial profession and more widely.
ESMA: short-termism in securities markets
17 January 2020
The European Securities and Markets Authority (ESMA) released their report on short-termism in securities markets in December. The report makes recommendations in disclosures of ESG factors and institutional investor engagement, in response to a request made by the European Commission to investigate sources of undue short-termism on corporations.
Bank of England publishes details of climate stress test
17 January 2020
The Bank of England recently published a discussion paper which sets out its proposed framework for the 2021 Biennial Exploratory Scenario (BES) exercise. The objective of the exercise is to test the resilience of the largest banks and insurers to the physical and transition risks associated with different possible climate scenarios, and the financial system’s exposure more broadly to climate-related risk.
FCA updates pensions regulations to include ESG and climate change
17 January 2020
The FCA has published a policy statement confirming its decision to extend the remit of independent governance committees (IGCs) following a consultation period. The proposals are aimed at helping protect consumers from investments that may be unsuitable because of environmental, social and governance (ESG) risks including climate change and to make sure consumer concerns are taken into account.
Climate change, sustainability and finance: how do I keep up?
17 January 2020
Join the Sustainable Finance Community, run by the IFoA Resource and Environment Board. Every week, environment and sustainability interested actuaries provide a weekly update containing related news, reports and webinars. This newsletter is suitable for anyone with an interest in climate change and sustainability and how these issues interact with finance and business. The purpose of this community is to encourage members to read, share and discuss content. Sign up here.
How IFoA volunteers create our outputs
16 January 2020
The IFoA is always trying to create an impact, influencing the public, policy-makers and the industries actuaries work in. We couldn’t do that without members like you driving our programme of reports, research, and guidance.
It’s no exaggeration to say that everything the IFoA does is driven by volunteers – working in partnership with our executive staff.
To show how this happens, we asked IFoA Senior Policy Analyst, Catherine Burtle, to tell us about a recent high-profile policy project, run as a partnership between volunteers and the IFoA executive.
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Other actuary news
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Costliest decade of natural disasters recorded
Added: Wed, 22/01/2020 - 11:31Natural disasters have resulted in more economic losses over the last 10 years than in any other decade on record, research from insurance firm Aon has found. -
Insurers agree deal to protect disabled customers
Added: Tue, 21/01/2020 - 16:30A pact between UK insurers, brokers, charities and other stakeholders has been agreed to help people with disabilities and medical conditions access protection insurance. -
More than 1,000 European financial firms to open UK offices after Brexit
Added: Mon, 20/01/2020 - 16:56Over 1,000 insurers, asset managers, banks and other financial services companies intend to set up an office in the UK for the first time after Brexit. -
Car insurance prices rise three times faster than inflation
Added: Mon, 20/01/2020 - 10:28UK car insurance prices increased by 5% in 2019, rising three times faster than the rate of inflation for the year, research by Willis Towers Watson (WTW) has found. -
Cyber incidents top business risks in 2020
Added: Fri, 17/01/2020 - 11:41A growing reliance on data and IT systems has seen cyber incidents shoot to the top of the most pressing risks facing businesses worldwide, research by Allianz has uncovered. -
Actuaries call for auto-enrolment reform timetable
Added: Thu, 16/01/2020 - 13:33The UK government must set out a timetable for automatic enrolment (AE) pension reforms over this parliament, the Association of Consulting Actuaries (ACA) has said. -
Almost half of US and UK firms expect recession in 2020
Added: Thu, 16/01/2020 - 11:16Just under half of US and UK firms expect their country to go into recession this year, although Chinese companies predict solid growth, a global survey of senior executives has uncovered. -
WEF publishes top 2020 global risks
Added: Wed, 15/01/2020 - 15:24The top five long-term risks facing countries over the next decade are all linked to the environment, the World Economic Forum (WEF) has warned today. -
UK could have £37bn in unclaimed pensions
Added: Wed, 15/01/2020 - 15:16Nearly a quarter of UK adults below the age of 55 may have lost track of at least one of their pensions, equating to a huge £37bn in unclaimed retirement savings. -
Climate change to trigger 'fundamental reshaping of finance' BlackRock
Added: Tue, 14/01/2020 - 15:02BlackRock the world's largest asset manager has today warned that climate change will trigger a fundamental reshaping of finance, with a substantial capital reallocation imminent.