Tag: Appointed Actuary

ICAAP – Lessons Learned

On Wednesday this week (22 April), I am part of a panel discussion on ICAAP – comparing and contrasting the experience across the banking, life and general insurance industries. I’m representing life insurance. This post summarises the points from my introduction. I’ll come back and update with any interesting points from the panel discussion. Challenges…

Life Insurance Appointed Actuaries – how should the role change?

Regular readers of this blog might remember a previous post of mine wondering about the role of the Appointed Actuary (AA) in life insurance. Since that post, the Actuaries Institute has formed a taskforce, of which I am a member. We had an insights session this week, in which we outlined our preliminary recommendations for change. Members can…

The Role of the Appointed Actuary

Concerns about the appointed actuary role In a recent Insight publication (pdf), APRA made a few points about the role of Appointed Actuaries, particularly where it involves Pricing, which seem to express some concern as to whether appointed actuaries have been effective: A tender for group insurance involves input from a number of professional parties, including product…

ICAAP and the Appointed Actuary

Last year, I was part of a panel discussion about ICAAP and the Appointed Actuary. It got such a good discussion that I’ve been asked to reprise it at this year’s Actuaries Summit. But a few things have happened since then, notably: Companies have moved into the new world of ICAAP, ICAAP Summary Statements have…

The Appointed Actuary and ICAAP

In a previous post, I wondered whether Appointed Actuaries were moving into a compliance role, partly driven by the new ICAAP requirements from APRA for insurance companies. Well I’m not the only one who has been thinking about the role of Appointed Actuaries. We had a session at the Actuaries Institute this evening where one…