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RBC and more join Connected Insurance Canada

Insurance executives are flocking to Connected Insurance Canada (September 10-11, Toronto) – otherwise known as the place to get leading insights, innovative strategies and practical tools to create innovative products, effectively leverage technology and deliver seamless claims customer experience.
Posted on Wednesday Jul 17

IFoA Presidential Address from John Taylor

Watch the Presidential Address given by John Taylor, President of the IFoA.
Posted on Tuesday Jul 16

Stars of the Future 2019 - Nominations Now Open

Stars of the Future 2019 nominations are now open!

We are delighted to announce that nominations are now open for Stars of the Future 2019 awards, sponsored by Star Actuarial Futures. Nominations will be open for one month before short-listing and voting. Nominate your colleagues now!
Posted on Tuesday Jul 16

Webinar on Building the Connected Carrier

Don’t forget to sign up for our free webinar taking place next Tuesday, July 16th 11:00 am ET to uncover the strategies and practical tools to move towards a truly connected model, merging technology and digital agility to meet customers’ demands at scale.

Join the live webinar: ‘Pave the way to true customer-centricity – Build the Connected Carrier’ on July 16th at 11:00am ET

Over 1500 executives have already registered for this free webinar. If you can’t join us live, make sure you register, and I’ll send you through the recordings.

Posted on Friday Jul 12

Bridge the gap with ReMetrica's new IFRS 17 components

Bridge the gap between risk and finance with ReMetrica’s new IFRS 17 components. With IFRS 17 on the horizon, actuaries play a critical role in calculating and reporting insurance reserves, reinsurance recoverables and forward-looking profitability – and now is your chance to step into the limelight with ReMetrica’s new components.
Posted on Thursday Jul 11

Is cold calling the real problem

We all know the scenario; the phone rings and the screen shows “No Caller ID”. Should we answer or should leave it to ring out, assuming it is yet another call centre either trying to elicit our opinions in order to monetise them or else trying to sell us something we didn’t realise we needed? Many people regard the intrusion of cold-callers into our private lives as the ultimate invasion of their privacy and swear never to buy anything from them.
Posted on Tuesday Jul 9

Silent cyber risk puts insurers on guard

Significant cyber events such as the NotPetya malware attack and the Equifax data breach grabbed international headlines in 2017 and put the spotlight on cybersecurity. Just months before, Willis Re conducted its first insurance industry survey studying the perceived dangers of silent cyber risk or, in other words, coverage under policies not specifically designed to cover cyber.
Posted on Friday Jul 5

The PPF is in good financial shape

A video report from the PPF on their annual report
Posted on Thursday Jul 4

Importance of marital status in pension derisking projects

Luke Davis, Business Development Manager from Lexis Nexis Risk Solutions talks about the importance of marital status in pension de-risking projects
Posted on Wednesday Jul 3

Insurance Nexus Insurance Claims Event

Following Insurance Nexus highly successful Connected Claims USA 2019 event in Chicago we asked several of the companies that presented for their views on the way AI, Machine Learning and IOT is being integrated and are now affecting claims in North America and the impact they are making and may make in the future in Europe.
Posted on Tuesday Jul 2

Insurance sector regulatory priorities for the year ahead

Recently, the Prudential Regulation Authority has focused on a number of key industry issues that have remained on its radar for a long time. Looking forward, there will be some specific activity insurers will need to engage with. These include new consultations on key issues, stress test runs and evaluation of SM&CR effectiveness to name a few. So what’s on the cards?
Posted on Tuesday Jul 2

What is data science an actuarial viewpoint

IFoA President John Taylor discusses how actuaries can make a unique contribution to data science
Posted on Friday Jun 28

UKs largest schemes significantly downsize equity holdings

It is common knowledge that UK occupational defined benefit (DB) pension schemes have been slowly reducing their equity holdings over a number of years, but the results of our most recent Big Schemes survey suggest that this trend has accelerated significantly in the last year.Every year, we analyse the UK’s private sector DB schemes with assets of over £1 billion, looking at scheme type, asset allocation, deficit contributions and adviser fees.
Posted on Friday Jun 28

Can AI led conversational commerce change insurance forever

If you’re still following the minutiae of Brexit, if you know exactly what the Backstop entails, and if you understand how the UK’s proposed departure from the EU will affect your consumer rights – congratulations! You’re in a pretty small minority. For most of us, finding out how Brexit will affect us will require us to access expert advice from service providers who have taken the time to understand the impact on ordinary citizens.
Posted on Wednesday Jun 26

The diversification trap and how to avoid it

Pension schemes often focus on maximising diversification within a scheme’s governance constraints. However, if this pursuit of diversification goes too far this can lead to risk levels being significantly greater than planned. It is important that schemes correctly gauge the extent to which each of the assets and exposures in the portfolio contribute to overall risk.
Posted on Monday Jun 24

Signs of demand pressures in the bulk annuity market

Another record breaking year in bulk annuity market is on the cards, but what does this mean for schemes and sponsors eyeing future transactions as part of their endgame?The surge in activity in the bulk annuity market seen in 2018 looks set to repeat this year as more defined benefit (DB) schemes find that they are able to insure their liabilities. We are expecting insurers to report record half year volumes with around £15bn of total transactions completed. This compares to just under £8bn in H1 of 2018.
Posted on Friday Jun 21

Bundled vs Unbundled doing the sums

There’s a lot of technical jargon when it comes to pensions. Which is why the use of ‘bundled’ and ‘unbundled’ always amuses me slightly. Amongst harsh sounding terminology like ‘uncrystallised funds pension lump sum’ and ‘trivial commutation’, ‘bundled’ and ‘unbundled’ sound kind of fluffy.An unbundled pension scheme is one in which investments are handled on a dedicated investment platform and administration is carried out by a third-party administrator, paid for by the employer.
Posted on Thursday Jun 20

Two of the proposed amendments to IFRS 17

In this video Deloitte outlines two of the proposed amendments to IFRS 17, the separate presentation of groups of assets and groups of liabilities on the SOFP and the measurement of acquisition cash flows for renewals outside the contract boundary.
Posted on Thursday Jun 20

Data Scientists taming Artificial Intelligence

Outside of tech and data driven companies the concept of Artificial Intelligence (AI) divides people. On the one hand you have companies like AvatarMind creating robots for children’s education and Elder care, which are fantastic concepts and who wouldn’t want to get behind that?On the other hand, you have overly-dramatic sci-fi films continue to portray AI as a potential catalyst for mankind’s annihilation only to be averted by last-minute superhero-intervention.
Posted on Tuesday Jun 18

The Pension Transfer Gold Standard

The Personal Finance Society (PFS) has seen more than 600 advice firms sign up to its Pension Transfer Gold Standard (PTGS) since it was announced in April, of which we are one. While this affords great satisfaction to each of the advice firms whose application has been accepted, the important point is what it offers to our clients.
Posted on Friday Jun 14

Your insight into cost transparency

The benefits of widespread cost transparency implementation by pension schemes has been made clear in the Netherlands, where KAS BANK has been collecting, processing and reporting on cost data for over 7 years. We have developed deep insight and understanding into the collection and reporting of costs. Access to cost transparency information can help trustees make more informed decisions, analysing their cost data in the context of their pension scheme strategy, assist with value for money assessments, potentially improve member outcomes and in turn, will boost trust and engagement across the pensions industry. We have cost transparency covered.
Posted on Thursday Jun 13

Mobile Video Technology changes the game for home insurance

A couple I know were burgled before Easter. It was a professional job - the burglars left the bleach and cloths they used to wipe away their fingerprints. It was blatant, in broad daylight, smashing through a locked bi-fold door. Like most home insurance claimants this couple had insured their home contents year after year without really giving thought to the value of what they owned. Now they have begun the long and painful process of working out what was lost and reaching settlement with their insurer.
Posted on Tuesday Jun 11

The Good Life beckons

A popular 1970s BBC sitcom, the Good Life, was based on the idea of self-sufficiency, where a suburban couple, the eponymous Tom and Barbara Good, decided to become completely independent by turning their garden into an allotment and living off whatever they could produce on it. The concept was slightly fantastical, as one would expect in a good sitcom, but self-sufficiency is back in a big way.
Posted on Monday Jun 10

Time to go back to basics with IFRS17

People are surely getting regulatory fatigue by now. Solvency II has barely churned into business as usual and here comes IFRS what? It is complex, convoluted and many times worse than Solvency II, that we have just been through in the last few years. With my actuarial thinking cap on, whenever I look at a complex problem, I always ask myself "let’s go back to basics and understand what are we trying to achieve here.
Posted on Thursday Jun 6

What do digital ecosystems mean for insurers

Will your insurance company thrive, or merely survive, in the future of digital ecosystems? How can you join one? And what happens if you are not part of one at all? Leading experts on digital ecosystems debate the issues from an insurance perspective in this panel discussion from the Swiss Re Institute conference Shaping modern underwriting
Posted on Wednesday Jun 5