Wed 22 Jun 2022, 08:30 - Join us in June for an in-person and virtual event, focused on discussing and exploring ‘tomorrow’s actuary’. Our first ever fully-hybrid event is designed to spark conversation, learning, and thought-leadership across a range of traditional and emerging topics, such as sustainability, health and care, Covid-19, careers, and data science.
The two-day calendar is packed with cross-practice sessions, panel sessions, and a range of top-flight speakers. It’s also your opportunity to network in person or virtually, and be part of the global actuarial community.
The series of compelling and exciting sessions and speakers are listed here and in more detail below, with highlights including:
We’re excited to be back and look forward to welcoming you to our inaugural IFoA Conference.
We hope the conference will grow your knowledge, open doors and even propel you in new directions.
| Activity | Time | Details |
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| Registration | 08:30 - 09:10 | Registration |
| Plenary session | 09:10 - 09:20 | Welcome opening address Read more |
Matt Saker, incoming President IFoA (2022/23) welcomes you all in his opening address for the inaugural IFoA Conference 2022. | ||
| Plenary session | 09:20 - 10:20 | Plenary: Challenges ahead for pensions and the welfare state Read more |
Everything has changed in the last 15 years. Growth has stalled. Earnings have barely risen. Interest rates have remained at their lowest levels in history. We now face the highest inflation in 40 years. Yet pension policy was effectively set by the Turner commission which reported pre financial crisis. The welfare state and the NHS remain essentially unreformed. Paul will look at the challenges ahead and the degree to which current policy is sustainable, and will ask whether we need to think again about how we support pensions, savings, and the wider welfare state. Speaker: Paul Johnson Format
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| Plenary session | 10:20 - 11:00 | Awards Ceremony Read more |
Join us as we introduce the awards followed by the Awards ceremony Format
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| Refreshments | 11:00 - 11:45 | Networking coffee break Read more |
A great opportunity to strengthen your business connections and discuss the topics presented in the first sessions. | ||
| Workshop A1 | 11:50 - 12:50 | Workshop session A1: Creating a globally diverse and inclusive profession Read more |
A1: Creating a globally diverse and inclusive profession Topic: Diversity, Equity and Inclusion (DEI) Senior IFoA, industry and business leaders will discuss the strategic and moral importance of delivering the IFoA’s recently published DEI Strategy, which aims to champion and embody the benefits of a globally diverse and inclusive profession. The plenary will also consider the implications of diversity on actuarial work and developments in the regulatory sphere. Topics to cover include:
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| Workshop A2 | 11:50 - 12:50 | Workshop session A2: Climate change and the insurance industry Read more |
A2: Climate change and the insurance industry Topic: Sustainability An overview of topical climate-related issues impacting the insurance industry, where we explore shortcomings in the journey so far and lessons to take away. This includes:
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| Workshop A3 | 11:50 - 12:50 | Workshop session A3: Mental Health and Life Insurance: Data and Modelling Read more |
A3: Mental Health and Life Insurance: Data and Modelling Topic: Health and Care The Data and Modelling workstream of the Institute and Faculty of Actuaries Mental Health Working Party is publishing a paper in Q2 focused on data analysis and underwriting of mental health conditions in life and protection insurance products. This talk is focused on exploring potential avenues for improvements in data collection, changes to how mental health risks are modelled and considerations of innovative product designs. Speakers:
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| Workshop A4 | 11:50 - 12:50 | Workshop session A4: IFRS 17: The bigger picture Read more |
A4: IFRS 17: The bigger picture Topic: IFRS 17 Our workshop will focus on the wider operational areas within an insurance company that are impacted by IFRS 17, and discuss the impacts beyond financial statements. The target audience is anyone in the insurance community. Topics covered will include the following:
Speakers: Simon Sheaf, Bhavin Bhatt and Mark Wu, Grant Thornton | ||
| Workshop A5 | 11:50 - 12:50 | Workshop session A5: The Growth of Non-Bank Lending – An Opportunity with Impact Read more |
A5: The Growth of Non-Bank Lending – An Opportunity with Impact Topic: Finance and Investment
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| Workshop A6 | 11:50 - 12:50 | Workshop session A6: The big three: How DB pensions can help solve society’s biggest issues Read more |
A6: The big three: How DB pensions can help solve society’s biggest issues Topic: Pensions We’ll look at how actuaries working across all sectors are putting “inclusive capitalism” into action. By supporting companies to protect pension scheme members’ benefits we can help to address some of the greatest societal challenges. We will join the dots between DB pensions and solutions to what we see as three of the UK’s most pressing issues:
Speaker: Adrian Somerfield, Legal & General | ||
| Workshop A7 | 11:50 - 12:50 | Workshop session A7: Infrastructure, the challenges facing the UK – Can actuaries help? Read more |
A7: Infrastructure, the challenges facing the UK – Can actuaries help? Topic: Finance and Investment The UK needs a considerable amount of new infrastructure over the next 30 years but resources are likely to be limited and choices will have to be made between alternative projects. These choices will require complex analyses of the various options under different scenarios, given major uncertainties about the impacts of climate change and technological advances. Account will have to be taken of the estimated positive and negative social impacts arising from each project, given only limited evidence. The conference session will pose the question of whether it would help the nation if actuaries were to work alongside other professionals in carrying out such analyses. Speaker: Chris Lewin, Chair IFoA Infrastructure Working Party | ||
| Refreshments | 12:50 - 14:00 | Lunch Read more |
Discuss the morning's topics and enjoy lunch with your peers and colleagues new and old. | ||
| Workshop B1-7 | 14:00 - 15:00 | Workshop session Plenary: Why Demographics matter? Insights from Macro-Finance for Investments & Risks Read more |
Plenary: Why Demographics matter? Insights from Macro-Finance for Investments & Risks
Speaker: Amlan Roy, Research Associate, Systemic Risk Centre, and Senior Research Associate, Financial Markets Group at The London School of Economics and Political Science (LSE) Format
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| Workshop B1 | 14:00 - 15:00 | Workshop session B1: Professional Skills: Tomorrow's Actuary – Working professionally in the new world Read more |
B1: Professional Skills: Tomorrow's Actuary – Working professionally in the new world Topic: Professional Skills March 2020 was the last in-person professional skills session we presented. Since then we have seen major changes to where and how actuaries work and consequently changes in how we interact with our customers, clients, and colleagues. There have been new challenges of isolation, communication, company loyalty, conflicts, and many others. Many of these changes will continue to some extent going forward as many of us adapt to a hybrid working environment. Throughout all this it is imperative we remain professional in all we do. What additional aspects do we need to consider to achieve this? How can the IFoA’s Regulatory approach support members in their endeavours to provide the best service to the users of actuarial work? This will be a lively interactive session led by Malcolm Slee, Chair of the IFoA’s Professional Skills Sub-committee and an IFoA Regulatory Solicitor, where we consider these issues with the aid of a video case study and other material. Speakers: Malcolm Slee, Chair of the IFoA’s Professional Skills Sub-committee and Emma Gilpin, IFoA Format
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| Workshop B2 | 14:00 - 15:00 | Workshop session B2: Disaster Risk Finance – A multi-disciplinary approach Read more |
B2: Disaster Risk Finance – A multi-disciplinary approach Topic: Sustainability Successful disaster risk finance involves a multi-disciplinary approach where a range of professionals, including actuaries, work together with stakeholders to arrive at effective solutions. GAD has collaborated with a number of organisations (including FCDO, the World Bank and the Centre for Disaster Protection) in this space and during this session, we will discuss several of our projects. Speakers: Chris Paterson and Joanne Meusz, GAD, Nazira Lacayo, IFRC Format
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| Workshop B3 | 14:00 - 15:00 | Workshop session B3: Under the Surface of the Solvency II Reforms Read more |
B3: Under the Surface of the Solvency II Reforms Topic: Risk We will share findings from our analysis of industry data submitted for the PRA’s QIS (October 2021) and consider how the April 2022 consultation alters the direction of travel. Changes in the risk margin and matching adjustment have important implications for product pricing, capital management, reinsurance, internal models and many other areas, but few firms will have had the opportunity to get to grips with these. We will cover both technical and policy perspectives. Speakers:
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| Workshop B4 | 14:00 - 15:00 | Workshop session B4: Impaired Lives Insurability: Dawn of a new era Read more |
B4: Impaired Lives Insurability: Dawn of a new era Topic: Health and Care The last two decades have witnessed a bifurcation in the market for longevity risks as specialist insurers have started to distinguish between impaired lives and others. The distinction has given rise to impaired lives’ annuity contractual terms that are more favourable than those available to standard lives. A market for impaired lives mortality risks is taking shape, in much the same way that it has become established in the longevity market in a number of jurisdictions. This distinction has always existed in the mortality risk market, albeit. Some may argue that this distinction is nothing new. However, impaired lives have traditionally been handled on an ‘exceptions basis’, and not as a separate market in its own right (and subject to inferior terms). It is likely that the growth of a fully-fledged dedicated market for impaired lives’ mortality risks will result in improvements in the terms offered to them. This is mainly because advances in medical science and technology have resulted in many impaired lives that were once considered uninsurable becoming insurable. This change in the insurability of a significant segment of the population presents new opportunities for applications in the form of novel insurance products. In this presentation, I will use cancer as an example of an impairment that has undergone such a sea change. I will demonstrate how the march of medical science has rendered many of these cases insurable. Taurayi will discuss two possible applications:
Speaker: Taurayi Chinowona, Consulting Actuary | ||
| Workshop B5 | 14:00 - 15:00 | Workshop session B5: Making the leap to C suite and NED roles using your unique talents Read more |
B5: Making the leap to C suite and NED roles using your unique talents Topic: Diversity, Equity and Inclusion (DEI)
You’ll leave with the tools to overcome career hurdles and achieve your ambitions! Speakers:
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| Workshop B6 | 14:00 - 15:00 | Workshop session B6: Algorithmic Fairness: Philosophy to Practice Read more |
B6: Algorithmic Fairness: Philosophy to Practice Topic: Data Science The classic approach in the governance of social decision-making has been to develop regulations designed to guide decision-makers to follow and uphold certain principles such as dependability, transparency, privacy, and fairness. As more and more decisions get automated using modern machine learning algorithms, it becomes more challenging for governing bodies and regulatory authorities to enforce social choices and cultural ethos. This work describes how the ostensibly abstract philosophical principle of fairness can be instantiated, measured, and enforced in any recommender system. The structure of the proposed talk is as follows. I start by demonstrating the inherent inductive biases in machine learning algorithms. Then follow it by defining the currently accepted notions of fairness and showcasing examples where it might be desirable from a business standpoint. Thirdly, I demonstrate how such definitions can be formulated as a standard learning problem and discuss their inherent trade-offs with accuracy and robustness. Finally, I showcase an open source Python/R package, which provides many of the tools necessary to implement a large-scale fair recommender system. Speaker: Arjit Das, ERGO Group AG | ||
| Plenary session | 15:10 - 16:10 | Plenary: Supporting the transition: insights from the Bank of England's Climate Biennial Exploratory Scenario (CBES) exercise Read more |
The CBES explored the resilience of the UK financial system to the physical and transition risks associated with different climate pathways. The exercise used three scenarios of early, late and no additional action to explore the two key risks from climate change; the risks arising from the significant structural changes to the economy needed to achieve net zero emissions – ‘transition risk’; and risks associated with the higher global temperatures likely to result from taking no further policy action – ‘physical risks’. This is the first time the Bank has tested both banks and insurers to capture interactions between them and understand the risk presented by climate change across the financial system. Expertise in modelling climate-related risks is in its infancy, so this exercise was designed to support capacity building for the Bank, CBES participants and the broader financial sector. This session will cover the main learnings for the insurance sector. Stefan Claus, Jethro Green and Giorgis Hadzilacos, Bank of England Format
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| Refreshments | 16:10 - 16:40 | Refreshment break and networking Read more |
A great opportunity to take a break and discuss the topics presented in the first day. | ||
| Workshop C1 | 16:40 - 17:40 | Workshop session C1: Rethinking Diversity – Harnessing human Capital through Diversity of thought Read more |
C1: Rethinking Diversity – Harnessing human Capital through Diversity of thought Topic: Diversity, Equity and Inclusion (DEI)
In this engaging session, we will explore the workplace benefits of diversity of thought, what you can do to increase diversity of thought in your team, and how understanding personality preference can help you optimise diversity of thought in your organisation. You’ll leave thinking differently! Speaker: Jenny Garrett OBE is a Coach & Leadership development consultant. She is an experienced facilitator of programmes for managers, Directors, and CEOs from a variety of organisations, including the private and public sectors. Chair: Matt Saker, incoming President IFoA (2022/23) Format
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| Workshop C2 | 16:40 - 17:40 | Workshop session C2: Decentralized Finance and Crypto Assets – Genesis of new risks and business models Read more |
C2: Decentralized Finance and Crypto Assets – Genesis of new risks and business models Topic: Finance and Investment In our session we will give an overview of:
Speakers: Daniel Cantzler and Peter Bärnreuther, Munich Re Format
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| Workshop C3 | 16:40 - 17:40 | Workshop session C3: The nature imperative in the actuarial profession Read more |
C3: The nature imperative in the actuarial profession Topic: Sustainability
Speakers:
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| Workshop C4 | 16:40 - 17:40 | Workshop session C4: CMI analysis of the impact of socio-economic status on mortality/morbidity Read more |
C4: CMI analysis of the impact of socio-economic status on mortality/morbidity Topic: Health and Care The CMI has been seeking Index of Multiple Deprivation (IMD) data to enable socio-economic analysis of its mortality and morbidity experience. This is an exciting new area of research and analyses have already been undertaken into the experience by IMD for annuitants, term assurance policyholders and pensioners. We will share:
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| Workshop C5 | 16:40 - 17:40 | Workshop session C5: Data Ethics and the Actuarial Profession - Past, present and future Read more |
C5: Data Ethics and the Actuarial Profession - Past, present and future Topic: Data Science
Speakers: Stuart Coleman and John Ng | ||
| Workshop C6 | 16:40 - 17:40 | Workshop session C6: Levelling up - The great health challenge Read more |
C6: Levelling up - The great health challenge Topic: Health and Care The UK Government recently proposed targets for levelling up Healthy Life Expectancy (HLE). However, people are increasingly living with poor health. Smoking cessation could be a key intervention, but its full benefits are yet to be realised. We discuss demographic and epidemiological analyses on:
Speakers:
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| Workshop C7 | 16:40 - 17:40 | Workshop session C7: Sharing investment risk or longevity risk, which would you choose and why? Read more |
C7: Sharing investment risk or longevity risk, which would you choose and why? Topic: Pensions Investment risk-sharing and longevity risk-sharing are the main elements of a collective defined contribution (CDC) scheme, which distinguish them from an individual DC plan. How much do each of them matter? Can you have one without the other? And what do each of them imply for members' outcomes? This session summarises the research results obtained to date in the IFoA's ARC funded project "Optimising future pension plans II" on these questions. Audience participation and discussion is most welcome! Speaker: Catherine Donnelly, Heriot-Watt University | ||
| Refreshments | 17:40 - 18:30 | Networking drinks and canapes Read more |
A great opportunity to exchange ideas in person, strengthen your business connections, make new business connections, and foster business or career opportunities. | ||
| Activity | Time | Details |
|---|---|---|
| Registration | 08:15 - 08:30 | Registration |
| Plenary session | 08:30 - 08:40 | Welcome to Day 2 - Matt Saker Read more |
Matt Saker, incoming President IFoA (2022/23) welcomes you to day 2 of the inaugural IFoA Conference 2022. | ||
| Plenary session | 08:40 - 09:10 | Conversation with Kalpana Shah, Louise Pryor, Matt Saker and Stephen Mann, CEO IFoA Read more |
In conversation with... Speakers:
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| Plenary session | 09:10 - 10:10 | Is Corporate Purpose Authentic? Read more |
Join this plenary panel discussion to hear leading figures in academia and business provide their perspectives on the purpose of business, the future of corporations and how we can restore trust in our commercial institutions. Covid-19 and the climate crisis are shining a light on the way corporations act. How can we create more purposeful, more trustworthy, and more ethical businesses to meet the needs of today’s society? Panel: Professor Colin Mayer CBE, Said Business School Chair: Tan Suee Chieh Format
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| Workshop D1 | 10:10 - 11:10 | Workshop session D1: Thank Goodness it's Not a Friday – from the Covid-19 Actuaries Response Group Read more |
D1: Thank Goodness it's Not a Friday – from the Covid-19 Actuaries Response Group Topic: Covid-19 The Covid-19 Actuaries Response Group has been widely applauded for the quality, breadth and depth of its work commenting on many of the issues as they arose throughout the pandemic. The mainstay of the group’s production has been its regular ‘Friday Report’, covering all major Covid-19 papers, analyses and data publications as they emerged. Over 60 of these have been published. In this session, core members of the Friday Report team provide their perspectives on the main themes of the pandemic, discuss whatever pandemic ‘hot topics’ may have emerged over 2022 Q2, and reflect on whether this type of bulletin could work for the profession in other fields. Speakers: John Roberts Gen Re and Matt Fletcher, Aon | ||
| Workshop D2 | 10:10 - 11:10 | Workshop session D2: Understanding the Future of the Actuarial Profession Requires Thinking Outside the Box Read more |
D2: Understanding the Future of the Actuarial Profession Requires Thinking Outside the Box Topic: Careers What actuaries do has been shaped by their skills, technology, business needs, and social, economic, and envoronmental effects. We will understand the future of actuaries by examining how these factors interplay: past, present and future and by examining what is going on in other statistics-based problem-solving professions, systems sciences and futurism. Speaker: Chris Smerald, Emerald Lake Consulting and Sheila Moorcroft, Realising your Future Format
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| Workshop D3 | 10:10 - 11:10 | Workshop session D3: Reskilling the Skilled in a Rapidly Changing Professional Landscape Read more |
D3: Reskilling the Skilled in a Rapidly Changing Professional Landscape Topic: Careers In the rapidly changing world of work Actuaries, like many other high-status professionals need to take greater personal ownership over their Career-Long Learning. Qualification is not the end, merely the start of this journey.
This session looks at how Actuaries can own more of their learning and where the opportunities for learning lie. Speakers:
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| Workshop D4 | 10:10 - 11:10 | Workshop session D4: The Self Aware Actuary Read more |
D4: The Self Aware Actuary Topic: Diversity, Equity and Inclusion (DEI)
Speaker: Brad Gentry, Gentry Worldwide | ||
| Workshop D5 | 10:10 - 11:10 | Workshop session D5: Embedding data analytics in internal audit Read more |
D5: Embedding data analytics in internal audit Topic: Data Science Data analytics adds value to the audit life cycle and changes the way assurance is delivered. We discuss examples of how audit functions can invest in analytics including the areas of emerging risks assessment, predictive insights, red flag triggers, and cognitive analytics. We consider the advancement of software tools and how this removes many of the traditional barriers to analytics, such as handling disparate data sets or an inability to ingest live data sources. Speakers: Jamie Crossmann-Smith and Mark Whyman, Grant Thornton | ||
| Workshop D6 | 10:10 - 11:10 | Workshop session D6: The New Norm – the impact of hybrid working on our mental wellbeing (and what we can do about it) Read more |
D6: The New Norm – the impact of hybrid working on our mental wellbeing (and what we can do about it) Topic: Health and Care As we move into the new world of hybrid working and it becomes the New Norm – what impact could it have on our mental wellbeing? This presentation will look at the impact of hybrid working on our work-life balance and our mental health from the lens of the employee, employer, and business leaders. For each, I will set out the changes that have occurred over the last 2 years and what the future could look like with case studies from real-life actuaries. As an actuary and life coach, I will make suggestions on how we can improve our work-life balance and mental health and will provide tools to help tomorrow’s actuary cope with tomorrow’s world. Speaker: Lisa Staker, Lisa Dawn Coaching Limited | ||
| Workshop D7 | 10:10 - 11:10 | Workshop session D7: GHG Emissions – The Road To Net Zero Read more |
D7: GHG Emissions – The Road To Net Zero Topic: Sustainability What we will cover:
Speakers: Raluca Stefan and Khushil Modi, Grant Thornton | ||
| Refreshments | 11:10 - 11:40 | Refreshment break |
| Workshop E1 | 11:45 - 12:45 | Workshop session E1: Tomorrow’s Actuary – Moving beyond traditional actuarial roles Read more |
E1: Tomorrow’s Actuary – Moving beyond traditional actuarial roles Topic: Careers Are you in a traditional actuarial role and wondering what else you could do with your actuarial skillset? We have a great panel of actuaries who have used their actuarial knowledge and expertise to diversify their careers into a wide range of interesting and unusual opportunities. Hear them share their experiences that led them to their current roles and how their actuarial skills have fitted with what their employers are looking for. Speakers:
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| Workshop E2 | 11:45 - 12:45 | Workshop session E2: Data Science – it's all very nice, but what's in it for actuaries? Read more |
E2: Data Science – it's all very nice, but what's in it for actuaries? Topic: Data Science
Speakers:
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| Workshop E3 | 11:45 - 12:45 | Workshop session E3: Emerging risk - Complex systems and lessons from Covid Read more |
E3: Emerging risk - Complex systems and lessons from Covid Topic: Risk Standard actuarial techniques do not work well with emergent risks. I use Covid-19 as a case study to look at how these techniques fail, and outline an alternative approach drawing on complex systems theory. The presentation draws on the work of FINSTIC and the author's Emerging Global Risks course at Bayes Business School. Speaker: Nick Silver, Callund Consulting Limited | ||
| Workshop E4 | 11:45 - 12:45 | Workshop session E4: Are tail risks the next frontier in climate scenario modelling? Read more |
E4: Are tail risks the next frontier in climate scenario modelling? Topic: Sustainability The standard (NGFS) climate scenarios are not intended to be extreme scenarios and hence often do not demonstrate much differentiation between each other or the base scenario; arguably the tail risks are the most important and would highlight the key implications. This talk will set out a framework for understanding climate-related tail risks, including direct effects of extreme weather on disease/pandemic risks, and land/infrastructure risks effects on food systems. Designed based on a collaboration with researchers at the University of Cambridge. It will also explore one of those pathways in more detail, indicating how modelling complex scenarios incorporating international trade and political systems can add greater insight to the risks in an insurance balance sheet. Speaker: Sanjay Joshi, Hymans Robertson | ||
| Workshop E5 | 11:45 - 12:45 | Workshop session E5: What do the UK government’s changes to actuarial regulation mean for the future of the profession? Read more |
E5: What do the UK government’s changes to actuarial regulation mean for the future of the profession? The UK Government announced proposed changes to the regulation of actuaries in the UK in 2021 as part of wider audit and corporate governance reform proposals, with potentially significant changes anticipated for individual actuaries and their employers. The IFoA has been a strong voice in warning of serious potential unintended consequences if the wrong arrangements are put in place and the risk that might pose to the contribution of actuaries to wider society. As we begin to understand and consider the implications of those changes, this session looks at what it might mean for actuaries working in the UK as well as for the future of the profession as a whole. Speakers:
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| Workshop E6 | 11:45 - 12:45 | Workshop session E6: Freedom and choice: Public attitudes seven years on Read more |
E6: Freedom and choice: Public attitudes seven years on Topic: Pensions Since April 2015 individuals have had greater flexibility in how they can access their pension benefits, for example, they are no longer required to take an annuity and can now access their benefits as cash or transfer them to a drawdown arrangement. This change offers individuals much more choice and flexibility. A good thing – but are people aware of how to use these new freedoms and are confident in doing so? The IFoA carried out some work in 2016 on how individuals were reacting to new flexibilities and pensions freedoms. In early 2022, we carried out an updated study amongst 2000 55+ year olds to see whether public attitudes to the reforms had changed in the intervening six years and to assess the current state of play as to how individuals understand and manage their pensions. The findings highlight interesting trends in consumer understanding, money concerns, the role of advice and guidance services, as well as considerations in terms of socio-economic status and gender. In this session we will summarise the survey findings and then chair a panel discussion to consider what they mean for pension savers in the UK, explore the problems that currently exist, and highlight a range of possible solutions on how to improve outcomes for consumers. Speakers: Joe Dabrowski, PLSA, Sarah Luheshi, PPI and Paul Tremelling, Visa Chairs: Kelly Hurren, Aon and Andrew Kemp, Clarity Global | ||
| Refreshments | 12:45 - 14:00 | Lunch Read more |
Take a break and strengthen your business connections while you discuss the topics presented this morning. | ||
| Plenary session | 14:00 - 15:00 | Plenary Session: Risk, measurement and the many dimensions of intelligence: understanding the future in turbulent times Read more |
This Keynote Session will look at how organisations and whole systems can organise their intelligence - particularly in times of turbulence when pandemics, war, energy crises, and other factors make long-term planning harder. On the one hand, a range of new tools make it easier to map and measure: we have a wealth of new data, sensors, AI as well as collective intelligence to help us look ahead, whether in relation to demographics or labour markets, climate or security. On the other hand, no one has been able to eliminate profound uncertainty, particularly if deep changes are underway in the structure of the economy, geopolitics, and daily life, so past data is not a good guide to future patterns. The talk will reflect on how best to combine evidence, judgment, and wisdom, and how actuarial sciences may respond to a period of transition. Speaker: Sir Geoff Mulgan Chair: Matt Saker, incoming President IFoA (2022/23) Format
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| Workshop | 14:00 - 15:30 | CERA Thought Leadership – Reflections on a decade of ERM Read more |
In 2012 the IFoA awarded the CERA credential to 10 thought leaders in Enterprise Risk Management, recognising their invaluable contribution to this new field in actuarial practice. A decade on, we invite these individuals to reflect on how ERM and the role actuaries play in it have developed – for better or worse, and their predictions for the future. Speakers: Paul Sweeting, Colin Wilson, GAD, Malcolm Kemp, Nematrian Ltd and Kathryn Morgan Chair: Louise Williamson, Smart Pension | ||
| Workshop F1 | 15:10 - 16:10 | Workshop session F1: Neurodiversity – a disability or a superpower? Topic: Finance and Investment/Risk Read more |
F1: Neurodiversity – a disability or a superpower? Topic: Finance and Investment/Risk 15% of people are “neurodivergent” - i.e. have a marked difference in sensing the environment, processing information, regulating emotions, and managing energy. Conditions include autism/ADD/dyslexia and more. Neurodivergent individuals are often innovative, quick thinking, can "join the dots", spot trends in data, and more. However, they can also be perceived as “different” or have difficulty reading or suffer tiredness brought on by noise or colours. Three experts explain how understanding this area of diversity, equity and inclusion (DEI) can improve teams' effectiveness. Speakers: Alicja Nocon, Expand the Circle, Charlotte Valeur, and Brandon Horwitz Chair: Steve Wilson | ||
| Workshop F2 | 15:10 - 16:10 | Workshop session F2: Advancing analytics with Covid-19 Read more |
F2: Advancing analytics with Covid-19 Topic: Data Science / Covid-19 Making sense of the uncertainties presented by Covid-19 falls into the actuarial skillset but it has also presented the opportunity to advance our data and analytics skills. Using a model built by the author to monitor Reproduction Numbers in South Africa, along with some other research examples, we introduce the audience to:
Speakers: Robert Kaner and Louis Rossouw, Gen Re | ||
| Workshop F3 | 15:10 - 16:10 | Workshop session F3: Do actuaries have what it takes to survive in the tech jungle? Read more |
F3: Do actuaries have what it takes to survive in the tech jungle? Topic: Data Science Advanced tech is knitted ever more closely into our day-to-day lives with recommendation engines driving our choices and Siri and Alexa keeping us company at home… And step by step it's taking hold in the insurance industry… Come along to this talk if you want to hear about: the evolution of tech in insurance over time, the rise of the data scientist, where actuaries fit into the picture, and how to maximise your value and the value of tech brings you in this new world. Speakers: Kieran McGing, PwC, and Clara Hughes | ||
| Workshop F4 | 15:10 - 16:10 | Workshop session F4: Update from the IFoA working parties in the Health & Care practice area Read more |
F4: Update from the IFoA working parties in the Health & Care practice area Volunteers from five of the IFoA working parties in the Health & Care practice area will be presenting the aims of their respective working parties, a summary of the work they have done to date and what they are currently working on. The working parties taking part are: Mental Health, Diabetes, Role of the Actuary, AI & Automation and Population Health Management. Speakers:
Chair: Ewen Tweedie, PwC | ||
| Workshop F5 | 15:10 - 16:10 | Workshop session F5: Careers - NEDS - Insight and growth - The steps to continuing to influence and inform Read more |
F5: Careers - NEDS - Insight and growth - The steps to continuing to influence and inform Our speakers tell their stories of how their NED careers started, what they do in their roles, how they prepared to take on their roles and what they had wished they had known on starting out. Once engaged as a NED, where will you go what are the further opportunities and where and how do you learn the new skills roles may demand. Speakers:
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| Refreshments | 16:10 - 17:00 | Networking drinks Read more |
A final opportunity as the inaugural IFoA Conference 2022 comes to a close to discuss the topics of the day with colleagues and peers over drinks. | ||
President of The Institute & Faculty of Actuaries
Matt has 30 years of experience working as an actuary in the life and general insurance industry. After a long career at Watson Wyatt, Matt joined Aviva in 2009 where he held the role of Group Chief Actuary until January 2022.
Matt’s responsibilities in this role covered all aspects of the Group’s actuarial methodology in respect of both Life and General Insurance. In addition, Matt led the development of data science and the embedding of climate risk within Aviva’s Risk management Framework. Matt plays an active role in the UK actuarial profession and was elected to the Council of the Institute & Faculty of Actuaries (IFoA) in 2016, before joining the Regulation Board in 2018.
More recently Matt has been closely involved in the profession’s response to climate change, the development of the IFoA’s Diversity, Equity & Inclusion strategy.
Paul has been director of the Institute for Fiscal Studies since 2011. He is a columnist for The Times and is a regular contributor to other broadcast and print media. He is a visiting professor in the UCL Policy Lab and at the UCL department of economics.
He was for 10 years a member of the UK Climate Change Committee and has served on the council of the ESRC and of the Royal Economic Society. Paul led reviews of pension auto-enrolment and of inflation measurement for the UK government, and of fiscal devolution for the Northern Ireland executive.
Previous roles have included time as chief economist at the Department for Education and as director of public spending at HM Treasury, where he also served as deputy head of the government economic service.
Paul published the Sunday Times bestseller “Follow the Money” in 2023.
He was appointed CBE in the 2018 birthday honours.
Research Associate, Systemic Risk Centre, and Senior Research Associate, Financial Markets Group at The London School of Economics and Political Science (LSE)
IFoA President
Kalpana brings 30 years of business experience in the insurance and investment industry. She was longstanding Group Chief Actuary and Partner at Hiscox until 2016. She is now one of a handful of female Chairs in the insurance industry, a non-executive director of several organisations and a member of the Capacity Transfer Panel for Lloyd’s of London.
She is also a liveryman of the Worshipful Company of Insurers and member of Court of the Worshipful Company of Actuaries. She has Chaired and contributed to committees for the IFoA, Bank of England, Lloyd's of London and the Bermuda Monetary Authority. In the early stages of the COVID-19 pandemic, Kalpana headed the first voluntary team of actuaries helping the UK’s National Health Service with emergency analytics and planning.
Kalpana is a regular judge for the Women in Insurance Awards and a frequent speaker on insurance and diversity related topics. Over the years she has been recognised for her work by organisations including the Institute of Directors, Financial Times, Cranfield University, Insurance Insider and Brummell Magazine.
Immediate past President, IFoA
In the course of a varied career as an actuary, software engineer and academic, Louise was Director, Actuarial Standards at the Financial Reporting Council, where she led the development of the Technical Actuarial Standards. She has practised as an independent consultant in the areas of software risk and sustainability and has worked on financial modelling for social security and pensions reform in a number of emerging economies.
Louise is Chair of the London Climate Change Partnership and a non-executive director at the Ecology Building Society.
She became a Fellow of the Institute of Actuaries in 1987 and a Fellow of IEMA in 2019. She has a degree in Mathematics from the University of Cambridge, and a PhD in Artificial Intelligence from Northwestern University.
Chief Executive of the Institute and Faculty of Actuaries (IFoA)
Said Business School
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Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit milliman.com.
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We have over 20 years’ experience placing actuaries into a broad range of opportunities into the UK and international markets from our London, Singapore, and Hong Kong offices.
Software Alliance Limited ("SAL") is a specialist software house that develops financial modelling software and services for the insurance industry. Over the last decade our primary product offering, Mo.net, has evolved significantly and is now relied upon by clients around the globe to provide mission-critical financial modelling, analysis and decision support.
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