Member-led research working parties are volunteer-led groups that 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:
- 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 impacting 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 examining 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, investigating trends, and reacting 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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Climate Solvency The Actuaries Carbon Collaboration: Applying Actuarial Concepts to Carbon Emissions
6 July 2022The Actuaries’ Carbon Collaboration (ACC) is a group of actuaries and other professionals working towards a coherent understanding of the issues around greenhouse gas (GHG) emissions by considering them in an actuarial context.
Emissions into and absorption from the atmosphere can be modelled in the same way that we model variable cash flows, including the impacts of uncertain quantities and timing. The ACC’s work investigates both the insights that this analogy provides and its limitations.
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Sessional Meeting: Data and Modelling Considerations for mental health in life insurance
11 July 2022This talk presents the work of the Data and Modelling workstream of the IFoA Mental Health Working Party. We explore data and modelling considerations in the risk assessment and underwriting of mental health conditions. We will also consider how newer risk factors and improved data availability might open up opportunities for additional underwriting and product designs.
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Pensions Dashboards
12 July 2022As the industry prepares for Pensions Dashboards, we have lined up a specialist panel who is at the heart of the ongoing work in this area. Hear the latest developments, future proposals and have the opportunity to put forward your questions to our speakers.
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Crisis Management and Boards
18 July 2022Crisis management, the process by which an organization deals with a disruptive, sudden and unexpected event that threatens to harm the organization or its stakeholders, has become a key concern in the light of the Pandemic and Geopolitical risks.
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Applying AI – From Concept to Practice
19 July 2022Artificial Intelligence is heralded as a game-changer to the ways industries use data, with the insurance industry especially looking to embrace these new technologies. This brings many questions – not least around data privacy, ethics, potential biases and so on – with regulators increasingly interested in developments.
Moreover, whilst the stunning progress of specific technologies such as Watson and Alphazero made headlines some years ago, current commercial applications of AI remain far from mature.
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This webinar will cover:
• Some background on the risks of misselling in an ESG context, including the DWS case
• Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities
• This tension can be resolved with a concept called Universal Ownership
• Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities
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This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on the expected future changes. Through examining the transformation, we will highlight how the sector is and can use actuarial expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.
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Sessional Meeting: Covid-19 and the Effectiveness of ERM Frameworks
Online15 August 2022The purpose of this research paper is to explore enterprise risk management lessons which can be learnt from the Covid-19 pandemic in preparation for potential future pandemics as well as other “gray rhino” or “black swan” events. This paper is not intended to be an all-encompassing solution to the issues presented by Covid-19; rather, the content has been provided to help drive discussions regarding how risk management processes may need to evolve in line with the dynamic nature of the underlying risks that they sometimes need to capture.
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The IFoA's Infrastructure Working Party, led by Chris Lewin, will present its new introductory guide to infrastructure investment, which will be published on the IFoA web-site prior to the webinar. Those readers whose institutions have already taken the plunge into infrastructure will know that it is a highly complex and diverse field of activity. This guide does not explore all the matters which investors take into account, but it does discuss many of the more important points, including the risks and past returns, benchmarking, and ESG and SDG considerations. Attendees will be invi
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Health – Our Greatest Asset
2 November 2022Health contributes to happiness at the personal, family, community and societal level. Health, importantly underpins all our economic security. This talk will explore the drivers of our health, the measurement of health and the steps we can take to improve health – most of which lie outside the NHS.