- A Retrospective on Solvency II - looking at Solvency II's objectives and analysing the outcome of the final regulation against those goals
- Aggregation and Simulation techniques - looks at aggregation and simulation techniques in capital models, and in particular how the methods used are tested, communicated and justified to stakeholders, including regulators
- ALM Dynamic Hedging Strategies - contrasts the different approaches to ALM dynamic hedging strategies, understand the reasons for the differences and see what lessons can be learned to improve the current environment and make recommendations for ALM best practice
- ALM Non Traditional Assets - identifies the opportunities available to insurers and the risks and impediments to their adoption
- Communicating Defined Ambition - builds on previous research to develop an IFoA proposal for the Department for Work and Pensions to shape pensions policy - This is a Cross Practice Working Party, shared with Pensions
- Consumer Risk Metrics - this was a Cross Practice Research Working Party shared with Risk that developed simple and easy ways to understand risk metrics to allow consumers to understand risk in a consistent way
- Life Solvency and Capital Management: Expert Judgement - writing a further paper on Expert Judgement (EJ) with full survey results, insights and suggestions for best practice/standards/templates
- Linked Matching Considerations - looks at the potential implications and issues for the management of unitised business
- Longevity, Morbidity and Fairness - looks at the impact of different morbidity and longevity experiences of socio-economic groups
- Liquidity Premium - provides a summary of how life insurance actuaries currently use the liquidity premium for pricing, valuation and risk management
- Management and Run-Off of With Profits Funds - considers what funds will be like in five years' time
- Management of Matching Adjustments - considering the management of Matching Adjustments as a measure approved by PRA under Solvency II but whose subsequent management is not laid down in all areas
- Optimal Approach to Pensions Income - undertaking research that explores some of the issues and that helps to inform public policy
- Policyholder Behaviour in Extreme Conditions - This group disbanded in August 2019. They researched an understanding of how policyholder behaviour could impact an insurer and the drivers of such behaviour, in order to enable the company to better manage the unexpected when extreme conditions occur
- Procyclicality: Counter Cyclical Capital Buffers - aiming to establish a position whereby the profession is able to contribute to a wider debate on the viability of Counter Cyclical Capital Buffers and the optimum structure of such buffers if they were to be introduced, and to support practitioners
- Recovery and Resolution Plans - to co-ordinate the development of a framework for actuaries, in both the life and non-life sectors, working to develop Recovery and Resolution Plans (now a Member Interest Group)
- Risk and Customer Outcomes - looks at risk and customer outcomes and explores the management of risk from the customer's perspective
- Role of Actuaries in Life Offices - identifies what roles actuaries have in life offices, along with trends, threats to and opportunities for actuaries
- Stress and Scenario Testing – looks at the role of stress testing in a risk based ‘Value at Risk’ style world
- Takaful Life Insurance - ensures that the working party adds to the overall body of knowledge of takaful and advance actuarial science in this area
- Tomorrow's Consumer Needs - to consider how customer needs are evolving and the potential impacts on the consumer environment
- Transitional Measures for TPs - examining the management of Transitional Measures for TPs, a measure, one approved by PRA under Solvency II but whose subsequent management is not laid down in all areas
- Trends in Young Age Mortality - created to review the comparisons of the causes of death by broad classification since 1993
- Unit Linked Fund Structures - undertake research to improve the understanding of recent developments and emerging trends in structuring unit-linked funds
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Research working parties active in the Life Insurance field
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For more information about Life working parties contact the CommunitiesTeam.
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View the full schedule of webinars in this series via this link.
This webinar series will provide topical and practical updates and discussion on the latest thinking and innovations in mortality and longevity, and is designed to be very accessible to a broad range of experience.
Part of the Mortality and Longevity webinar series. As an industry, it has been important to be able to look to the future to identify the next quantifiable risk. In this session, I will explore some of the less tangible, but none-the-less concerning risks to future health, such as the health risks associated with exposure to pesticides, ingestion of plastic in the food chain, and the hazards of indoor air pollution through exposure to volatile organic compounds.
Part of the Mortality and Longevity webinar series. The working party will help the industry to update and enhance how potential risk from diabetes and excess mortality is considered, including the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes.
A Trusted Profession
This free 1 hour CPD webinar is designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020 and is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive.
Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates.
In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.
The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC.
This event is now fully booked. To join the wait list, please register here.
Get ready for the new CPD Scheme launching on 1 September. Join us for a discussion on what the new Scheme will look like in practice. There will be an opportunity to field questions to the IFoA Executive on how the Scheme’s requirements will affect you.
There will be a prestigious line-up of international speakers discussing the insurance and financial industry’s innovation and change in Asia. The conference will take place throughout September via an online platform. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, Sustainability, Risk Management and Investment.
This will be the perfect opportunity for you to discover,ask questions and be at the forefront of current and developing actuarial/financial topics and trends in Asia.
In this webinar we will provide an insight into enterprise-wide risk management in banking, showing similarities to the world of insurance as well as identifying differences. Just as insurance companies have to submit an ORSA, so bank’s have to submit their own equivalent, the Internal Capital Adequacy Assessment Process or ICAAP.
This free 90 minute webinar is designed to support the IFoA CPD Co-ordinators, and others, involved in supporting our members to achieve their CPD requirements.
The programme will include an overview of the new CPD Scheme; specifically sharing with you key messages to support you implement and embrace the new CPD Scheme for our members within your organisation and regional community; how to arrange a reflective practice discussion; and an interactive reflective practice discussion learning exercise. In addition, delegates will gain information about accessing, and making the most of the IFoA event Toolkits which you can make use of to run your own in-house events and events for regional communities.