You are here

Thought leadership: actuarial science research and knowledge hub

Current research activities

The IFoA places the advancement of actuarial science at the heart of its activities by commissioning and funding research that:

  • advances actuarial science as a subject
  • supports industry practitioners
  • helps inform evidence-based public policy development

Cutting edge Actuarial Research Centre (ARC) research projects have produced interesting outputs addressing some of the key challenges in actuarial science.

Find out more on:

Modelling measurement and management of longevity and morbidity risk

Using big health and actuarial data for understanding longevity and morbidity risks

Minimising longevity and investment risk while optimising future pension plans

Behavioural finance

Future research activity

Over the next few years the IFoA has identified two additional areas it would like to research:

Economic modelling

Actuarial practitioners have traditionally utilised conventional economic theory to identify the approach to adopt in economic and financial issues. The experience of the 2008 economic and financial crisis challenged conventional economic tools, with other schools of economic thought brought into sharp focus.  In the first instance, a survey of current practice amongst actuarial practitioners has been commissioned, with a view to undertaking a wider research project later.

More on economic modelling

Equity release mortgages

The Institute and Faculty of Actuaries (IFoA) and the Association of British Insurers (ABI), through the Actuarial Research Centre (ARC), has recently commissioned a research project on Equity Release Mortgages: No Negative Equity Guarantee. The call for tender closed on 7th September 2018. Read the call document

 More information on this jointly commissioned research project will be available shortly.

Periodical Payment Orders

Periodical Payment Orders (PPOs) are a significant feature of insurers' and reinsurers' balance sheets already. PPOs are having an impact on the UK insurance and reinsurance industry and on pricing and capital modelling efforts of GI actuaries. In the first instance, a feasibility study will be carried out which will: a) lead to the compilation of mortality tables for lives who have suffered the types of traumatic injury that give rise to PPO awards and b) Identify the most appropriate health database(s) that can be used to compile these tables, e.g. the THIN and/or CPRD GP data sets.

More information on  the PPOs project will be available shortly.

Further reading, videos and audio recordings:

IFoA eLibrary and new 'Actuarial Knowledge Hub'

An in-house resource which can assist with study, research and Lifelong Learning.

The eLibrary is available to members and affiliates registering for Athens access. Once registered, you will have access to an integrated research portal in the form of the Actuarial Knowledge Hub. The Hub brings together several distinct sources of research in actuarial science in one search:

  • the online journals and ebooks available to IFoA members
     
  • the valuable catalogue of over 20,000 abstracts and references from journals worldwide built up over many decades by library staff
     
  • the IFoA library catalogue and its 20,000 records of hard copy holdings
     
  • a complete index of Actuary magazine features
     
  • the catalogue of rare books collected by the Faculty and Institute since their formation. This is a unique archive of historical books and pamphlets devoted to the history and development of actuarial science
     
  • thousands of relevant references from research databases across the world

To support Lifelong Learning, remain a breadth of current actuarial work and its impact.

Increase your knowledge and awareness of current topics in these areas:

Recent event:

Actuarial Research Centre -  2018 Webinar Series    

Following the successful launch of the 2017 ARC webinar series, the IFoA ran a further successful series in 2018 to once again showcase its most cutting edge research programmes addressing some significant challenges in actuarial science. Details of the 2018 webinars are available on the ARC webinar page.  Recordings are available to view now on the IFoA’s on line resources web page for members and the ARC's YouTube channel for non-members.

Want to stay up to date with the latest in ARC and IFoA research? View our ARC webpages, and sign up for our quarterly newsletter by e-mailing research@actuaries.org.uk.

 

Lifelong Learning and Continuing Professional Development

When this learning is relevant to your work or role and addresses a personal development area, this can also be used to meet your Continuing Professional Development (CPD) requirements.

Review the CPD Scheme requirements

Lifelong Learners are motivated to never stop learning

Take time to reflect and plan before you begin any new projects

Reflect: check the competencies against your current role and future ambitions

Plan: identify exactly what skills and knowledge you need and how best to acquire them

Do: take courses, read articles, find a mentor, look online, volunteer

Record: write down everything you do, how far it met your objectives, the impact on your work