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IFoA confirms Tan Suee Chieh as next President-elect
15 February 2019
The Institute and Faculty of Actuaries is delighted to announce that Tan Suee Chieh has been confirmed as the next President-elect.
Call for Papers: Health and Care ‘Hot Topics’ Short Research Papers 2019
13 February 2019
Closing Date: 12 March 2019
The Health and Care Research Sub-committee is looking for volunteers interested in writing and presenting short research papers (approx. 5-10 pages) for thier annual Hot Topics event (4 November 2019), in London. These short research papers are intended to provoke discussion and lead to possible further research and debate.
The committee is open to all current hot topics (which should have a technical actuarial focus), however, there is a particular interest in the following areas:
Present at CILA or Chief Actuaries Workshop in 2019: call for speakers open
13 February 2019
Submission closing date – 12 March 2019
The Life Insurance Lifelong Learning (Life LLL) Sub-committee are busy preparing their Continuing Professional Development (CPD) programme for 2019, and has issued a call for speakers to support the events listed below. Speakers are welcomed from regulatory bodies, consulting firms and industry (both large and small companies). We are particularly interested in finding experienced, confident speakers who are willing to make their sessions interactive and also practical.
Event dates:
Bulk Annuities and Longevity Swaps MIG - get involved
8 February 2019
The Bulk Annuities and Longevity Swaps Member Interest Group (MIG) is seeking to appoint a volunteer Chair and volunteer members of the Managing Committee.
Update from Catherine Jones, Chair of the Pensions Research Subcommittee
7 February 2019
The Pensions Research Subcommittee is an extremely productive group of people. Despite all being volunteers, mostly with demanding day jobs, there are currently 10 active working parties researching an array of topics including the future pensions landscape, the impact of the changes in working patterns, savings in retirement and the taxation of retirement savings.
Several of the working parties have submitted reports, which include responses to consultations on Collective Defined Contribution Schemes (CDC), CDC consultation and the Pensions Dashboard.
New research paper on Consumer Risk Metrics
5 February 2019
The cross practice Consumer Risk Metrics Working Party (Life and Risk Management) has recently published their final report, and now invite you to review the report on their website.
The aim of the working party was to examine the way in which consumers understood risks, and as part of this process, a survey of consumers was undertaken via YouGov. The research report includes the full survey questions and data.
The rise of Quick Response (QR) codes for payments.
4 February 2019
This paper is an addendum to the interim report, “Cashless Society- Benefits Risks and Issues”, published by the Cashless Society Working Party, in December 2017. In the process of researching into the various aspects of a cashless society, Quick Response codes (QR codes) featured as a popular and widely adopted technology as part of the digital economy and payment system.
This paper seeks to understand the phenomenal rise of QR codes use by:
Resource and Environment Consultations and Reports
4 February 2019
The following consultations and reports have recently been launched:
A Cashless Society in 2018: a year of tension
4 February 2019
The 2017 interim report from the Cashless Society Working Party, and its later addendum, focused on the “Cashless Society- Benefits and Issues”, and reported on global developments for the topic during the year. The 2018 version of the “Cashless World in Motion” is now available.
The paper first identifies the driving trends for the year, pointing to structural disruption of the payments ecosystem from conflicting forces. It then reports on regional developments for the topic, with emphasis on India, Kenya, the UK and Australia.
New GI Subcommittees for Lifelong Learning and Research
4 February 2019
Last year we announced that the GI Practice Area was undergoing a restructure and two new subcommittees were forming to replace the General Insurance Organising Committee (GIRO) and GI Education and Continuing Professional Development (GI ECPD) Committee.
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Other actuary news
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Most customers would swap personal data for cheaper financial services
Added: Fri, 15/03/2019 - 16:44Nearly six in 10 consumers would share significant personal information with their bank and insurer in return for cheaper services and products, a worldwide survey has found. -
UK firms warned of no-deal Brexit liability risks
Added: Wed, 13/03/2019 - 14:40Every listed company in the UK faces major liability risks for failing to properly prepare for Brexit, especially if there is a 'no deal' outcome, experts have warned. -
Solvency II rules amended to slash EU insurers' capital requirements
Added: Wed, 13/03/2019 - 12:30The European Commission has slashed capital requirements for insurers investing in equity and private debt after amending key Solvency II rules. -
Financial services firms failing to capture customer feedback
Added: Tue, 12/03/2019 - 14:40The UK's financial services sector is failing to capture feedback from around 17 million customers, potentially breaching a regulatory requirement to show fair treatment of clients. -
Falling life expectancy to slash pension scheme liabilities
Added: Mon, 11/03/2019 - 14:10UK pension schemes could enjoy a significant fall in liabilities after the Institute and Faculty of Actuaries (IFoA) last week slashed its life expectancy projections by almost half a year. -
UK climbs up global rankings for female economic empowerment
Added: Fri, 08/03/2019 - 11:21The UK is the 13th best country in the OECD for female economic empowerment after climbing one position in an annual ranking by PricewaterhouseCoopers (PwC). -
TPR publishes guidance for scheme valuations
Added: Tue, 05/03/2019 - 13:01The Pensions Regulator (TPR) has today published guidance outlining how it expects employers and trustees to approach upcoming scheme valuations. -
Majority of private investors see Brexit 'opportunity'
Added: Mon, 04/03/2019 - 14:18More than half of private investors in the UK view Brexit as an opportunity, with the overwhelming majority confident about the outlook for their investments. -
Insurance sector making steady gender diversity improvements
Added: Mon, 04/03/2019 - 13:30Gender diversity has improved at nearly all levels of the UK's insurance industry, new research has found, although the number of women in senior roles remains low. -
Global FinTech investment doubles
Added: Fri, 01/03/2019 - 16:48Financial technology investment more than doubled across the world last year, with the UK and US both enjoying record levels of fundraising.