Member-led research working parties are volunteer-led groups which conduct research on timely topics of interest to the practice area and the wider profession.
The General Insurance Research and Thought Leadership Committee has oversight of all the working parties listed below and encourages them to undertake research that can be shared with Institute and Faculty of Actuaries (IFoA) members via sessional papers, articles in The Actuary or the British Actuarial Journal (BAJ), and presentations at conferences and workshops.
The following are active General Insurance research working parties exploring various topics:
- A Study of Major Hurricanes and Subsequent Market Response - aiming to educate and inform actuaries on the nature and predictability of hurricanes and how they can cause insured loss in different classes of business
- Better Sensing and Responding to Change - examining ways of better detecting (‘sensing’) and responding to change
- Data Science - integrate data science application within IFoA into our educational system and techniques
- Developing your reserving Team - Identifies the extent of the common challenges within reserving teams across the industry and summarise key issues and concerns
- Flood - focusing on matters relating to flooding and the Actuarial Profession with a particular focus on the UK
- GI Asia International - providing a forum for GI actuaries to discuss local and international GI issues imapacting members in the region
- General Insurance Pricing Actuaries Considerations - This working party has come out of the group’s ICAT (COVID-19 Action Taskforce) workstream work which was looking at the longer term impacts on (re)insurers and the wider market from the changing risk profile of policyholders.
- IFRS 17 for General Insurers - (previously the IFRS 4 Phase II for General Insurance Working Party) examines the implications of the accounting changes on general insurers and the work carried out by actuaries
- Insurance as a Force for Social Good - explores an aspect of what it means for actuaries to work in the public interest in the insurance sector
- Insurtech Opportunities in General Insurance - To identify the practical use cases for new technology in general insurance, and the opportunities for actuarial involvement in developing and implementing them.
- Machine Learning in Reserving - is to help move this forward, by identifying what the barriers are, communicating any benefits, and helping develop the research techniques in pragmatic ways.
- Nat Cat Risk Validation Framework - formed in order to further examine Cat Model Validation
- Ogden Discount Rate - to consider issues and resolve uncertainties regarding the implementation of the Ogden Discount Rate.
- Periodical Payment Orders - investigating Periodical Payment Orders (PPOs) and their effects on the UK insurance and reinsurance industry
- Programming for Actuarial Work - exploring and supporting the adoption of best practice computer programming concepts and techniques in daily actuarial work
- Public Data for General Insurance - addressing the use of public data by General Insurance companies and research actuaries
- Risk Considerations for Autonomous Vehicles - seeking to identify the key risks associated with AV and examning in detail how the insurance industry might be affected
- Solvency II Practical Review - seeking to evaluate the practical implications of Solvency II 1 year post implementation and develop improvements for the PRA to consider in respect of this regulation
- The Good Actuarial Report - exploring how ‘story telling’ might provide insights into how to better communicate potential future development and adverse outcomes, better supporting decision-making under uncertainty
- Third Party - investigating emerging claim trends in third party motor insurance
- Towards the Optimal Reserving Process - exploring the governance and design of existing processes within reserving, ensuring that principles-based guidance (small ‘g’) is given
- UK Asbestos - investigating asbestos related claims, collect UK based data, investigate trends and react accordingly
If you have your own ideas for member-led research you would like to pursue, please refer to our Guidance for Research Working Parties or contact the Communities team.
All members are encouraged to volunteer for a research working party
Members interested in volunteering for a research working party should check the Volunteer vacancies webpage for current and new working parties.
The IFoA is also actively involved in commissioning strategic and external research relating to General Insurance
Information on research undertaken by universities and other external agencies which receive funding and/or support from the IFoA, as well as the IFoA’s strategy for involvement, the process for calls for research, current research initiatives and funding, can be found in Research and Knowledge.
Related documents
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Guidance for Member-Led Research Working Parties
9 November 2017
Contact Details
For more information about the General Insurance practice area please contact the Professional Communities Team:
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Events calendar
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Pensions Winter Forum: Corporate Transactions
25 January 2022
Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors. -
Frank Redington is recognised as one of the most influential actuaries of all time. In this talk, Craig will review some of Redington's most important ideas. He will identify the consistent actuarial principles that form a common thread across the contributions Redington made to a broad range of actuarial fields, and will highlight the ongoing relevance of Redington's thinking to 21st century actuarial practice.
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The IFoA Mental Health working party look back over their week of blogs and podcasts considering all aspects of the relationship between mental health and life insurance. The expert panel spans adviser, underwriter and actuarial experience and they explore triggers for purchasing insurance relating to mental health, the various routes to insurance and how these may be more suited to different people depending on their conditions and preferences, the products and processes involved in purchasing these as well as what claims and support are available to policyholders and how to access them.
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Part of the 'Finance in the Public Interest 2022' webinar series. If it was ever okay to consider your business in isolation from its surroundings, today it most definitely is not. Thinking about business within its surrounding system is now a necessity. The question we seek to discuss is: How should we prescribe the boundaries in which we consider problems to enable us to create better products and more resilient companies and systems?
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ARC Webinar - The next generation of CDC pensions? Analysing a post-retirement retirement vehicle
18 February 2022What will happen to DC pension savers who see life annuities as poor VFM but still want an income for life? Pooled annuity funds could offer them a decent lifetime income while reducing significantly the complex choices and risk inherent in income drawdown. They could be the next generation of CDC pension schemes, slotting into the existing DC framework as a post-retirement option.
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ARC Webinar Series 2022 - Lifting the lid on intergenerational investment risk-sharing
24 February 2022Investment risk-sharing is a fundamental part of whole-life collective defined contribution (CDC) pension schemes, such as the Royal Mail CDC. But how does investment risk-sharing benefit members? And does it favour some groups of members over others?
Over recent months there has been a sharp rise in M&A activity involving British businesses, with interest from overseas, domestic buyers and Private Equity investors.