Nudges need to be in the right direction

I think the award of the Nobel Prize for Economics to Richard Thaler was welcomed by many in the pensions industry as recognition of the work he has done, alongside Professor Benartzi, on behavioural finance and the art of the nudge. Thaler’s ideas introduced the real world into economics and recognised that human beings are not the rational individuals often portrayed in traditional economic theory.

How good are insurers at measuring market risk?

Every year at PwC we train our new graduate intake on the basic intricacies of the insurance business. And recently I have asked myself whether this model is still the right one to teach. As we all know too well the building blocks of the insurance business model are pricing risk well, pooling it effectively, being efficient in acquiring and administering the portfolio and investing premium income wisely so that it hopefully exceeds the cost of running the business. I don’t need to ask which of the blocks has eroded in the last ten years.

Auto-enrolment: The Past, Present and Future

Auto-enrolment, on the face of it at least, has been a huge success. Very few employees have chosen to opt out and, five years on from launch, we are seeing its impact. But where did it all start? Back in 2003, the Government had a problem. Defined Benefit pensions in the private sector were in sharp decline as many closed to new members.

Transition approach to IFRS 17 adoption

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Lifestyle Actuary

This Summer, London Market headhunter, Constance Longden of Bolton Associates, is heading off around the world of re/insurance - and is taking the Actuarial Post with her!

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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