Report

Aggregators within Private Health Insurance – Part 1

Aggregators have become an important part of the Australian Private Health Insurance (PHI) industry, however, they are often seen as having negative impacts and pushing up prices. Here, health actuary Andrew Gower discusses the history and impact of aggregators.

Letting Insurance Asset Data Speak for Itself

In late 2016, the Society of Actuaries (SOA) commissioned a paper on asset allocation trends of Asian life companies. Two FIAA’s who co-wrote the paper “Letting Insurance Asset Data Speak for Itself”[1] highlight its key findings here. 

IFRS 17 Taskforce Update - March 2018

This article reports on the new AASB 17 Insurance Contracts Information Note, released on 8 March 2018, to support actuaries in Australia and NZ in the application of IFRS17.

Five things we learned networking in London

The London Australian Actuaries Network reports on its December mission to combine networking with one of the great institutions of British culture – pints at a pub.

Actuarial Education Team - new hires

With a new education model approved for implementation beginning in 2019, Daniel Smith, Convenor of the Education Strategy Review Committee, outlines the background of three newly-hired actuarial educators at the Institute.

Is ‘Part-Time’ a Dirty Word?

With an increasingly part-time workforce and the impact of the ‘gig economy’, Julia Lessing discusses the true value of part-time workers and asks, “what can organisations be doing to benefit from this growing talent pool?”

Pricing tree structures with shifting parameters

Greg Taylor from UNSW Business School gives a brief summary of his paper on pricing tree structures with shifting parameters, discussing motivation, hierarchical models, the Kalman filter and a numerical example.

50 years of actuaries consulting globally – the history of IACA

Fifty years ago, the International Association of Consultant Actuaries (IACA) met in Munich for the first time. In June 2018, IACA will celebrate its 50th anniversary meeting with the International Congress of Actuaries (ICA) in Berlin. Brent Walker outlines its history, purpose, spread into Asia and why you should join.

Becoming an Analytics-Based Insurer: A Road Map – Part 1

Stephen Lowe, former managing director at Willis Towers Watson and past President of the Casualty Actuarial Society, shares his views on the benefits of combining actuarial knowledge and data science. This is part one of a two-part series, focusing on the requisite skills and technological advances driving current data science innovations.

Chief Risk Officer Survey Results

Brett Riley reports on the results from the first survey of Chief Risk Officers by the Actuaries Institute.

Introducing the new International committee and its membership

The Institute’s Council recently recruited members to join the newly established International Committee which replaces the existing International Council Committee. Here, Martin Stevenson explains a little more about it.

Introducing meetups - Zeming's data analytics ‘meetup’ files -

Six months ago, Zeming Yu stumbled upon data analytics ‘meetups’ and he’s never looked back. Here, he outlines the wealth of learning (and pizza) he’s gained since making the discovery.

Jobs for Actuaries – past, present and future

A recent survey by the Actuaries Institute asked members about their education, employers and job functions (past and present), and where they expect and hope to be in 10 years’ time. Deputy CEO of the Institute Elayne Grace reports on the findings.

Wealth Management Investment Competition 2017-2018 and Last Year’s Results

Last year 163 participants answered 20 demanding propositions put to them as if they were an Investment Analyst / Economist in the Wealth Management Investment Competition. Overall the profession did pretty well with a 62% hit rate. Some did very well – two with 100% hit rates - while others have much explaining to do! Are you willing to go again for 2017-18?

Analysts at Atlassian and LinkedIn take out Actuaries Kaggle Competition

A trio of former work colleagues ‘the Nelson Boys’ won the 2016 Actuaries Kaggle Competition to predict the cost of motor vehicle accidents on Victorian roads.

Revamped Health CPD Course

Bronwyn Hardy and Barry Leung outline the Actuaries Institute's updated online Private Health Insurance CPD Course in light of significant changes in the private health insurance sector.

The evolution of disability insurance within superannuation

Disability cover has received considerable media attention recently which has led to significant analysis and review from superannuation funds and their insurers (and reinsurers) on several key issues. Here, Senior Consultants at Rice Warner, Geoff McRae and Andrea McDonnell, outline the issues and the future of this evolving provision.

Blockchain in Insurance

Dimitri Semenovich outlines some of the foundational concepts of blockchain technology, ahead of his upcoming presentation on the subject at the 2016 GI Seminar.

Comments:1

Analytics-assisted triage of workers compensation claims

Director of Data Science Inna Kolyshkina and Scheme Actuary at ReturnToWorkSA Ivan Lebedev combine forces to explain a project undertaken to explore the usefulness of advanced data analytics capability for ReturnToWorkSA.

Comments:4

Better Recovery through Neuroscience

An understanding of basic neuroplasticity could help make our worker’s compensation claims systems less harmful and more sustainable. Rob Aurbach outlines his award-winning research paper.

Also this month