- Advanced Pricing Working Party - exploring new techniques and ideas of pricing in general insurance, including mathematical and statistical techniques, actuarial software and implementation techniques
- Actuarial Function - provided more detail of the work which will need to be undertaken by the Actuarial Function to fulfil the requirements of Article 48 of the Solvency II Directive
- Actuaries and Income Inequality - looked at income inequality caused by (or potentially resolved by) financial services and actuarial responsibility
- Data Visualisation - examined the benefits that visualisations provide in the communication of technical work
- Directors and Officers Insurance - understanding the pricing and reserving risks around this class of business
- Diversity Analytics - asking the question 'What will the insurance industry workforce look like in 10-20 years? How will it develop and will it be fit for purpose?'
- Fairness in Insurance Pricing - reviewed and summarised various issues (past and present) surrounding the discrimination debate
- Getting Better Judgement - developed a set of best practice guidelines for probability elicitation in general insurance
- International Pricing Research - exploring what makes for a good reinsurance underwriting submission
- Investigating the Herd Mentality Amongst Actuaries (GI ROC) - explored the reasons why Actuaries follow the herd
- Liaison with Cat Model Developers - Explored issues of mutual interest between the Institute and Faculty of Actuaries (IFoA) and Catastrophe Model Developers
- Managing Uncertainty with Professionalism - seeks to develop general and simple principles to support actuaries in managing and communicating uncertainty in all fields
- Marine and Energy Pricing - informed and educated the actuarial profession on marine and energy pricing
- Modelling, Analytics and Insights from Data - a cross practice Working Party established to investigate “Big Data” and primarily focused on the latest and emerging thinking associated with modern mathematical tools and techniques
- Peril Based Reserving (GIROC) - developing a universal framework for capturing the emergence and development of insurance claims
- Practical Use of the Clark Cape Cod Method for Stochastic Reserving Working Party - (GIROC) - testing the Clark Cape Cod method in a variety of situations and types of business and compare to other commonly-used methods
- Practising Ruin - introduced practitioners to modern ruin theoretic concepts as part of the toolkit for risk-return assessments
- Reserving Functions Survey (GIROC) - reviewed current reserving practice in the UK
- Risk Elephants in the Room - Identified, considered and communicated large risk issues that currently don't seem to be part of the existing risk conversation
- Solvency II IMAP - investigated the internal model approval process for Solvency II and the specific challenge this presents for GI actuaries
- Spreadsheet Models: Governance Risk and Control - looked at the issues surrounding end user computing (EUC) tools, especially spreadsheets
- Third Party Consultation and Communication - this working party works in tandem with the Third Party Working Party (Data) and the PPO Working Party.
- UK Deafness Claims - facilitating market data collection and investigating claims experience relating to deafness/noise induced hearing loss in the UK
- Uncertainty of 99.5th Percentile - seeking to refine the estimates of uncertainty and consider the practical implications of this work.
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Research working parties active in the General Insurance field
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There will be a prestigious line-up of international speakers discussing the insurance and financial industry’s innovation and change in Asia. The conference will take place throughout September via an online platform. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, Sustainability, Risk Management and Investment.
This will be the perfect opportunity for you to discover,ask questions and be at the forefront of current and developing actuarial/financial topics and trends in Asia.
This free 90 minute webinar is designed to support the IFoA CPD Co-ordinators, and others, involved in supporting our members to achieve their CPD requirements.
The programme will include an overview of the new CPD Scheme; specifically sharing with you key messages to support you implement and embrace the new CPD Scheme for our members within your organisation and regional community; how to arrange a reflective practice discussion; and an interactive reflective practice discussion learning exercise. In addition, delegates will gain information about accessing, and making the most of the IFoA event Toolkits which you can make use of to run your own in-house events and events for regional communities.
“Lifestyle Product” being the key to make insurance a daily necessity rather than a luxury, by having high engagement and interaction with the consumers through:
Consumer expectations are changing Insurance. The Royal Commission in Australia, Design Obligations in the UK, the insurtech ecosystem, and digital-first consumers demanding personalised solutions will all revolutionise how insurance looks like in the future.
This presenter / panel workshop hybrid will be anchored by two presentations examining the socioeconomic, medical and technological factors that will have a significant impact on mortality and our pricing over the next 20 years and beyond. It will also discuss whether significant mortality improvement will continue in Asia or whether varying experience of low improvements or deterioration.
16.00-17.00 (GMT+8) | 09.00-10.00 (BST)
This presentation explores some liability-aware investment solutions to address local regulatory changes faced by insurance companies in Asia.
This presentation aims to provides an overview of the reformation of current Chinese regulatory solvency regime, how industry coping with the new normal after pandemic time and how the reformation of the regulation could help the insurance industry gets back on its feet as well as coming back to the “protection” core value for the policyholders. The presentation would include:
16.00-17.00 (GMT+8) | 09.00-10.00 (BST)
The basic data of China’s 2nd Critical Illness Mortality Table covers 2000+ products in Chinese market, including about 340 million insurance policies and 5.1 million claimants. Presenter will give the audience a general understanding including but not limited to the following contents:
What are the advantages of using artificial intelligence (AI) in investing? What are the differences between traditional quant and AI? This new webinar discusses challenges and the future of AI in the investment sector.
Delivered by the IFRS 17 Contractual Service Margin working party.
The Certified Actuarial Analyst (CAA) qualification has rapidly established itself as adding real value, to insurers and consultancies, and to the clients of consultancies, around the World. CAAs work alongside actuaries and actuarial students, as well as other financial services professionals, in an increasingly broad range of roles and fields.
This session is a repeat of the one earlier today at 09:30
Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.
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.
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.
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.