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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 Sharon Cumberbatch.

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

    The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.

  • Spaces available

    Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.

  • UK Town Hall 08:30-09:30

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • UK Town Hall 10:00-11:00

    Webinar
    4 December 2020

    Spaces available

    IFoA President Tan Suee Chieh would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual UK Town Hall 2020, hosted by Tan Suee Chieh with IFoA’s Immediate Past President, John Taylor, President Elect, Louise Pryor and IFoA Chief Executive, Stephen Mann.  

  • Spaces available

    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.

  • Spaces available

    Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year

  • Spaces available

    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. 

  • Spaces available

    Running off the £2 trillion of UK corporate sector defined benefit liabilities in an efficient and effective fashion is the biggest challenge facing the UK pensions industry. Trustees and sponsors overseeing those schemes need to be clear on their target end-state and the associated journey plan – but too few have well articulated and robust plans.

  • Spaces available

    The actuarial skill set has much to offer the banking industry. So many of the skills that actuaries acquire during their working life translate across to the world of banking and yet banking is perceived as an alien environment to many actuaries. But is it?

  • Spaces available

    Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.

    We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.