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Research Working Parties

The General Insurance practice area is active in member-led research

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
  • 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

Contact Details

For more information about the General Insurance practice area please contact the Professional Communities Team:

professional.communities@actuaries.org.uk

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Events calendar

  • Spaces available

    Mathematical Futures: The Actuary in a World Transformed – Sir Adrian Smith will outline how advances in data science, machine learning and artificial intelligence in the world of big data will transform the nature of many industries, including financial services. The broader environment within which mathematics is applied will change rapidly, often led by innovative yet disruptive forces outside. These changes will undoubtedly have an impact on the work of actuaries - and the profession will need to adapt quickly to thrive.

     

  • Spaces available

    The General Insurance (GI) Spring Conference is a result of the General Insurance Lifelong Learning Committee (GILL) combining this year’s 'Current Issues in General Insurance' (CIGI) and 'Technical Issues in General Insurance' (TIGI) conferences into a virtual webinar series over 19 – 25 May that will be available to watch online globally.

  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.

  • Spaces available

    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Spaces available

    Behavioural Science Webinar SeriesThe world is changing. The fourth industrial revolution, globalisation and the COVID-19 pandemic are up-ending traditional social and business norms around the world; changes that were once predictable and steady are now faster and more profound.

  • Spaces available

    Risk Management Webinar PrgrammeTools like python/R are being heavily used to provide end-to-end analytical solutions for risk management. They help to set up a framework/platform to collect risk data and work out stochastic analytics to provide insights into the risks faced by a firm, be it in any sector.

  • Spaces available

    The webinar will look at several aspects of intergenerational fairness and our panel of experts will challenge you, society, taxpayers and generations X, Y and Z on key aspects of DB v DC pensions, public v private sector pensions, state benefits and key aspects of sustainability.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.

  • Spaces available

    Given our commitment to the safety of our members and employees, and as the easing of restrictions in respect of COVID-19 cannot be guaranteed at this point in time, we have decided to hold our AGM virtually again this year.

    The Business of the AGM

  • Spaces available

    Join newly inaugurated IFoA President Dr. Louise Pryor as she explores what we need to do to keep abreast of the changing world – and how we can seize the resulting opportunities – in her Presidential Address, ‘A Learning Society’

  • Spaces available

    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Spaces available

    The paper “Asset liability modelling in the quantum era” shall be presented by its authors, Tim Berry and James Sharpe, and chaired by Andrew Smith, Assistant Professor in the School of Mathematics and Statistics at University College Dublin.

  • Spaces available

    Risk Management Webinar ProgrammeInternal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible?  This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.