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.
- 11 August 2017
- 26 May 2016
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For more information about Life working parties contact the CommunitiesTeam.