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Insurtech - Applications in General Insurance
14 December 2021
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; Imag
Record 22 weeks of excess mortality, says CMI
14 December 2021
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. Today’s updates cover week 48 of 2021 (27 November to 3 December), based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 14 December 2021.
The key points of this update are:
Life Board update - December 2021
14 December 2021
Joshua Waters provides an update on the IFoA Life Board activities.We welcomed Louise Pryor to the Life Board (a day after she met with BoE Governor Andrew Bailey), for an update on:
New podcast series - Net Zero Investment Portfolios
14 December 2021
With the notion of Net Zero popularised by COP26, we are all turning our minds to how to achieve this state in practice – i.e. a world where we have completely negated the amount of greenhouse gases produced by human activity by reducing emissions and implementing methods of absorbing carbon dioxide from the atmosphere. Institutional investors like pension funds and insurers hold the key to achieving this goal through their choices of investments.
Publication of paper by IFoA Matching Adjustment working party: “Fixity of cash flows”
10 December 2021
In June 2020, the UK Government announced that it would review certain features of the Solvency II regulatory regime. The IFoA Matching Adjustment (MA) Working Party provided input to the IFoA’s response to the HM Treasury’s Solvency II Call for Evidence, which closed in February 2021. Following this exercise, the Working Party continued to examine areas of the MA which could be pragmatically modified in order to align with HM Treasury’s objectives for its ongoing review.
IFoA and IAI issue joint statement on signing of mutual recognition agreement
6 December 2021
The Institute and Faculty of Actuaries (IFoA) and the Institute of Actuaries of India (IAI) have issued a joint statement on 06 December 2021 announcing the signing of a Mutual Recognition Agreement.
A mutual recognition agreement (MRA) is a reciprocal agreement between the Institute and Faculty of Actuaries (IFoA) and another actuarial body that recognises each other’s professional qualifications.
Thematic review on equity release mortgages
2 December 2021
The IFoA Review Team has launched the Equity Release Mortgages thematic review, which will consider the work carried out by actuaries in this area – in particular their role in propositions and pricing activity. The market for equity release mortgages continues to grow, and actuaries have an important role to play in this broad and complex area.
Brian Hey Prize 2021: Winner announced
24 November 2021
The Brian Hey Prize has a great history in helping to highlight research that is practical and helpful for members of the IFoA General Insurance practice area.
CMI confirms plans for the CMI_2021 Mortality Projections Model
24 November 2021
The CMI has confirmed its plans for the next version of the CMI Mortality Projections Model, CMI_2021.
It expects to release CMI_2021 in March 2022. It considered whether to delay this because of the release of results of the 2021 England & Wales census over the course of 2022, but decided not to.
It intends to calibrate CMI_2021 to data for 1981-2021, with the Core version of CMI_2021 using 0% weights for 2020 and 2021 data and 100% weights for other years. This is consistent with the approach for CMI_2020.
Sustainability Board update - November 2021
22 November 2021
The November meeting of the sustainability board took place shortly after the end of the COP26 climate conference in Glasgow, an event which – especially for those based in the UK – underlined the extent to which matters of sustainability have become a central theme of political and economic discourse.
Joshua Waters provides an update on the IFoA Life Board activities.Pages
