Actuaries work within Life insurance in various roles including:
- designing and pricing contracts
- monitoring the funds required to provide the benefits promised
- recommending bonuses to be added to with-profit policies
- providing expert advice on investment
- getting involved in the planning and marketing of products
- advising on strategic risk measurement.
Life is the largest of the Institute and Faculty of Actuaries' (IFoA's) seven practice areas
The Life practice area is integral to the IFoA in all of its key areas of influence: research, continuing professional development (CPD), public affairs and regulation.
The Life Board actively influences the environment in which Life actuaries practice
The Life Board, a member-led Board of senior volunteer actuaries, advises the IFoA on important Life issues. The Life Board sets key objectives annually and has oversight of three subcommittees:
- Life Research Sub-committee (LRC)
- Life Standards and Consultations Sub-committee (LSCC)
- Lifelong Learning Sub-committee (Life) (LLL)
- Life Asia Sub-committee
- Life Conference Sub-committee
The Life Board and its subcommittees shape the IFoA’s education, standards, CPD, events and research
The Life Board and its subcommittees are committed to ensuring that their members are educated and practice in an environment of the highest standard. The Board and its sub-committees are responsible for:
- developing topics for member-led research working parties and helping push through research outputs, such as sessional research papers, presentations or articles in the British Actuarial Journal (BAJ)
- pushing forward timely CPD opportunities and events, ensuring all Life members have access to CPD of the highest standard
- helping to shape IFoA responses on consultations
- raising issues of strategic interest to the profession.
- 23 June 2020
- 26 May 2016
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For more information about Life working parties contact the CommunitiesTeam.
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We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.”
In April 2021, the CMI Income Protection Committee published Working Paper 149, which detailed the changes to analysis methodology for the Income Protection Investigation and the impact of past data issues. This webinar will provide an overview of the changes in the analysis approach and discuss the adjustments to the IP11 claim inceptions graduations.
Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s Climate Change Guidance Consultation, which is seeking views on new guidance designed to help trustees meet tougher standards of governance in relation to climate change ri
Internal 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.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.