Report

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Members are aware that Royal Commissioner Hayne has delivered an interim report of findings on September 28. This report does not cover insurance or superannuation matters which will be included in the final report, scheduled for release on 1 February 2019.

Mental health matters for private health insurance

Andrew Matthews and Brendan Pon outline reforms to psychiatric waiting periods within private health insurance and how this sits within the broader need to address growing mental ill-health treatment in Australia. 

Health Insurance Reform: Challenges and Opportunities

New Private Health Insurance (PHI) reforms that will come into effect on 1 April 2019 will present health insurers with a range of challenges and opportunities. Shaini Sivagnanam reports.

International CPD opportunities

There are over 30 committees, subcommittees, task forces, and working groups of the International Actuarial Association. These groups all commission, create and share content that may be relevant to Actuaries Institute members. Links to some of the content discussed at the recent meetings in Berlin, Germany are provided below.

Analytics at the Virtual International Congress of Actuaries (VICA)

With over 150 hours of presentations available from ICA2018 in Berlin, we’ve had a look at some of the videos relating to Data Analytics and picked out a handful for suggested viewing.

Private Health Insurance: metallic paint, game theory and product standardisation

The interaction of reforms to categorise all hospital insurance products into Basic, Bronze, Silver and Gold with the commercial and political environment will require careful planning and detailed risk assessment, writes Barry Leung.

Mental Health and Insurance - Understanding. Validating. Contributing

Chief Actuary for Medibank Private, Andrew Matthews outlines the prevalence of mental health conditions, government spending, and the role of insurance in improving services.

Building a Gender Diverse Profession

This article looks at data on actuarial students at Macquarie University and the Australian National University (ANU) as well as international analysis, to see how we can attract women to and keep them in the actuarial profession.

Fast five with Fintechs - Plenty Wealth

Greg Einfeld, Director at Plenty Wealth outlines his journey in fintech and where he sees his business, and the broader fintech landscape heading.

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.

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