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The Institute’s publications explore the sustainability of Disability Income Insurance, the future of life insurance and potential implications of genetic testing.

Most recent publications


Cover Image_Work Capability Clause (1)

Cover Image_Data Collection Guide

DN Risk Function (1)

This Paper provides insights into good practice principles that insurers might use to improve the effectiveness and clarity of defining disability and work capacity in IDII. Additionally, it offers relevant case studies and principles for consideration when assessing work capacity at time of claim.

 

This is a guide to assist life insurers with determining what data they could collect for their portfolio having regard to community expectations, privacy, and other considerations to inform their understanding of product sustainability.
This Note distinguishes between the role of the life insurance CRO and the Appointed Actuary in relation to product sustainability, as well as to provide suggestions and guidance with respect to risk management across the value chain.

Other publications


  • Low Probability, High Impact Economic Scenarios for Australia: The aim of this Paper, through a collaboration between the Actuaries Institute and independent economist Michael Blythe, is to share insights about scenario analysis and identify some plausible alternative futures that actuaries could consider as part of their professional work.
  • Artificial Intelligence and Discrimination in Insurance Pricing and Underwriting: Developed with the Australian Human Rights Commission, this resource provides guidance on complying with federal anti-discrimination legislation in relation to use of artificial intelligence in insurance pricing and underwriting decisions.
  • How COVID-19 has Affected Mortality in 2020 to 2022: This Paper offers essential insights to inform public policy on healthcare, social support and emergency preparedness while providing a robust foundation to mitigate the pandemic’s impact on mortality and well-being.
  • How COVID-19 has Affected Mortality and Morbidity in 2020 & 2021: This Research Note on COVID-19 mortality, which looks at Australia’s experience in a global context, shows that Australian mortality is 1% lower than expected for 2020-21. This is compared with a global average of 17% higher than expected mortality. However, Australia’s Omicron deaths up to 31 March 2022 have eliminated the 2020-21 mortality savings.
  • Total Deaths in Australia - What Do They Look Like for 2020? The COVID-19 Working Group has produced a mortality Research Paper that indicates more Australians likely died from COVID-19 during the first weeks of the virus outbreak in Australia than has been reported.
  • The Special Needs of Financial Services Boards: Two actuaries have developed a skill and capability checklist to help Australian bank and insurance companies appoint Directors with the right qualifications to prevent misconduct uncovered by the Hayne Royal Commission.
  • The Rise of the Gig Economy and its Impact on the Australian Workforce: The gig workforce has grown rapidly in recent years but knowledge of the segment is limited and questions are emerging about its impact on other sectors and gig workers. Quantium’s innovative approach involved analysing bank transactional data that gives a unique insight into the sector from a worker and consumer perspective.
  • The Impact of Climate Change on Mortality and Retirement Incomes in Australia: Authors Dr Ramona Meyricke and Rafal Chomik discuss wide-ranging implications of climate change on mortality, superannuation contributions and retirement incomes.
  • Mental Health and Insurance: This Paper aims to stimulate discussion about the way the insurance sector and insurance products interact with people with mental health conditions.
  • Exploring Retiree Mortality:  The Paper calls for the development of mortality tables for purchasers of annuities and other guaranteed income products. 
  • Retirement Readiness—A Comparative Analysis of Australia, the United Kingdom & the United States: A recent survey—conducted jointly by the American Academy of Actuaries, the Actuaries Institute of Australia, and the Institute and Faculty of Actuaries (U.K.)—uncovered some interesting findings about how residents in the United States, United Kingdom, and Australia are (or are not) preparing for their retirement years.
  • Disability Income - An International Comparison: The Actuaries Institute commissioned KPMG (on a pro bono basis) to compile a comparative Research Report Disability Income, An International Comparison, to help start the debate about changes needed to bring about a sustainable long-term solution that supports consumers.
  • Genetics - A Testing Time for Insurers?:  Alan Doble and Jessica Chen have authored this Paper which considers the implications of genetic testing on life insurance.
  • The Future of Life Insurance: Ilan Leas discusses the future of the Australian life insurance industry and sets out a range of ideas for government and industry that suggest how life insurance could adapt to meet increasingly demanding consumer needs and expectations of the future.
  • Exploring Barriers to Australia’s Annuities Market: The Actuaries Institute believes a deeper, more developed annuities market is vital to provide greater choices for people looking to sensibly invest their retirement savings – over what may be a 30+ year period for many. However a wide range of barriers need to be better understood and then tackled to help annuities enter the mainstream financial services system.
  • Retail Advised Lump Sump Product Sustainability Report: This Report highlights a number of current and potential future issues, suggests ways forward (many possible within the existing regulatory framework) and considers potential impacts for the industry. Many of the issues, solutions and potential impacts have parallels with the IDII issues.
  • For Richer, For Poorer, Retirement Incomes: This Paper uniquely outlines the financial risks facing future retirees based on their current age and wealth profile.
  • The Challenge of Longevity Risk: Making Retirement Income Last a Lifetime: This Paper, examining the challenges of retirement income and longevity risk, has been jointly released by the respective actuarial institutes of Australia, the UK and America.



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