Research &amp; analysis

Public Policy Position Statement

2 CPD Points

Reinsurance Explained: A Pillar of Strength for General Insurers

Explore how reinsurance supports affordability and resilience in Australia’s insurance market amid rising natural disaster costs and climate change.

Kate Bible

1 September 2025

1 CPD Point

Group Insurance in Superannuation Public Policy Statement

This Statement highlights key public policy positions of the Institute on group insurance in superannuation, promoting stronger governance, simpler products and fairer outcomes for Australians.

Actuaries Institute

27 August 2025

Papers

2 CPD Points

Life Insurance Sustainability Guide

A framework for managing life insurance products for the long-term alignment of all system participants.

Life Insurance Practice Committee

20 August 2025

Report

3 CPD Points

Superannuation Tax Reform

In Superannuation Tax Reform: Sensible Changes for a Fairer System, actuaries Richard Dunn, Michael Rice, Jennifer Shaw and Alun Stevens set out their vision for meaningful tax reform that aims to make super simpler to invest, easier to spend and fairer with bequests.

Richard Dunn

9 December 2024

2 CPD Points

Fairness in Insurance: A Challenge to Boards of Insurance Companies

Former APRA deputy chair, insurance company chairman and actuary Ian Laughlin challenges boards to strengthen their oversight of customer fairness by making regular checks on how the company’s product, pricing and claims philosophies, and other aspects critical to community views on customer fairness, are being put into practice.

Ian Laughlin

30 October 2024

1 CPD Point

Consultation - Ban on the Use of Adverse Genetic Testing Results in Life Insurance

The Institute supports the Government’s decision to ban adverse genetic test results in life insurance underwriting.

Actuaries Institute

12 March 2025

1 CPD Point

APRA Consultation - Targeted Adjustments to General Insurance Reinsurance Settings

Reinsurance is a critical element of risk management for general insurance. The Institute welcomes the opportunity to provide feedback on reinsurance settings to assist in maintaining access for Australian insurers to global reinsurance arrangements and high-quality alternative protection markets.

Actuaries Institute

14 February 2025

Report

2 CPD Points

Home Insurance Affordability Update

This Report explores the context of all natural perils and discovered that the proportion of “affordability stressed” households – those that spend more than one month’s worth of their gross annual income on home insurance – rose from 10 to 12 per cent. These households spend on average 8.8 weeks of their income on home insurance, which is more than seven times what the average household spends.

Sharanjit Paddam

14 August 2023

2 CPD Points

Cyber Protection Gap Widens for SMEs

Small-to-medium-sized businesses (SMEs) risk being left behind in the fight against costly cyberattacks unless they receive more help to bolster their defences. In Cyber Protection Gap Widens for SMEs, Win-Li Toh, Dr Michael Neary and Sarah Wood take a temperature check on cyber risk.

13 November 2024

Report

2 CPD Points

Getting to Grips With Indigenous Data

Getting to Grips With Indigenous Data highlights that, despite decades of focus on the rights and outcomes of First Nations people, limited progress has been made on Closing the Gap targets. The Report suggests that better progress could be made if changes were made to how data about First Nations people is collected, used, and controlled.

Hugh Miller

23 September 2024

1 CPD Point

Submission to SIRA Review into Home Building Compensation Scheme

Given the significant financial risk involved in home building, it is critical for societal resilience that Home Building Compensation schemes remain efficient and effective.

Actuaries Institute

27 November 2024

1 CPD Point

Response to Treasury - Review of AI and Australian Consumer Law

Responding to Treasury's review of AI and Australian Consumer Law, the Institute has drawn on recommendations made in prior extensive submissions to Government on AI including the need for regulation to be outcomes focused, prioritisation of existing regulation and guidance rather than new regulation and the creation of a centralised expert body to consider AI governance, regulation and guidance.

Actuaries Institute

13 November 2024

Publication

2 CPD Points

How COVID-19 has Affected Mortality in 2020 to 2023

The new Research Paper from the Mortality Working Group explores how COVID-19 affected mortality in Australia from 2020 to 2023 and how Australia’s experience compares with the rest of the world.

Mortality Working Group

28 July 2024

2 CPD Points

More Than Just a Roof - Changing the Narrative on the Role of the Home

While more than 80% of people currently aged 65 to 74 live in their own home, many of these ‘asset rich cash poor’ retirees are living more frugally than they need to. In "More Than Just a Roof: Changing the Narrative on the Role of the Home", Andrew Boal argues that we should reconsider the role of the home as a fourth pillar of our retirement income system.

Andrew Boal

22 July 2024

Housing in Australia: Financial Journeys Through Affordability, Retirement and Climate Challenges

A paper presented to the joint conference hosted by ABS and RBA examining Australia's dual housing challenges and their impact.

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Event insights

All presentations

2 CPD Points

Applying Your Non-Business Skills in Your Business World

The purpose of the session is to highlight the theme of “lifelong learning” and to promote the application of skills and lessons from other fields in our business life. The session comprises a panel discussion with four actuaries who may have unexpected applications of skills learned in culture, sport, family or volunteering circles. The objective is to encourage members to volunteer and to remind them of the potential to bring their full range of talents to the workplace.

Dorothy Yao Cheng, Bianka Grange, James McAtamney, Crystal Mai and Martin Mulcare

4 September 2025

2 CPD Points

Data Meet Up

The Sydney AI and Data Science Meetup featured a presentation by Chris, an actuarial recruiter at SKL Technology, who shared insights on the job market and career opportunities in AI and data science, adapting his previous year's presentation to reflect recent changes. The discussion covered the evolving landscape of data science and AI roles, including job search strategies and the importance of self-reflection to align skills with suitable positions, while highlighting the diversity of tasks and backgrounds within the field. The conversation ended with insights on recruitment practices, employer strategies, and career opportunities for junior roles and fresh graduates, emphasizing the value of practical experience, networking, and ethical considerations in AI.

Chris Gray

2 September 2025

2 CPD Points

Insurance in Super: Public Policy Statement and Sub-committee update

This session will provide participants with the context behind and insight into the development of the new Public Policy Statement* on Group Insurance within Superannuation, which will be released ahead of this session. There will be opportunities for participants to affirm and challenge particular positions. With the objective of superannuation legislated and a new parliamentary term starting, actuaries and the profession at large are well positioned to contribute and shape the ongoing policy debate around potential upcoming reforms in this area.

Jeff Humphreys, Amy McDonald, Karen Lau

28 August 2025

2 CPD Points

Leading and Motivating Teams to Achieve Great Environmental Outcomes

Hear from leading specialists from RMIT, n0de and UniSuper about their experience in leading net zero initiatives, and how climate and sustainability factored into board decision making.

Steve Somogyi, Jodie Barns, Scott Ferraro and Rob Brimblecombe

12 August 2025

2 CPD Points

LASSO Regularised GLMs Enhancements for Life Insurance Experience Analysis

The revision of Actuarial Qualification Pathways paved the way for a new generation of actuaries equipped with improved statistical techniques. At the same time, established methods remain at the heart of life insurance experience analyses. This session bridges these perspectives by exploring LASSO regularisation within generalised linear models (GLMs). Whether you are a recent graduate familiar with modern techniques or a seasoned professional with deep experience, this discussion will show you how LASSO-regularised GLMs can complement traditional approaches.

Tim Lam and Byron Wong

29 July 2025

1 CPD Point

LASSO Regularised GLM Enhancements for Life Insurance Experience Analysis

Tim Lam

29 July 2025

2 CPD Points

Data Meet Up

This meeting focused on the role of mathematics in AI, particularly in building large language models, with discussions on tokenization, embeddings, attention mechanisms, and training methods. The speakers explored the capabilities and limitations of AI models, including their ability to handle various tasks and languages, as well as the challenges in implementing AI across different sectors. The conversation ended with considerations on the growing demand for AI and its potential overuse, emphasizing the importance of balancing AI implementation with customer needs and maintaining human oversight in areas like coding and data science.

Sachin Abeywardana

15 July 2025

2 CPD Points

Mortality Update 2020-2024: annual update on excess mortality

The meeting focused on analyzing mortality trends from 2020 to 2024, with presenters discussing COVID-19's impact on death rates and comparing it to other causes like cancer and flu. The presenters examined regional patterns of excess mortality across different countries and analyzed life expectancy data from the World Bank, highlighting how governments' responses to the pandemic affected outcomes. The discussion concluded with an evaluation of mortality trends across various countries, including Australia's performance compared to others, and considered the long-term impact of the pandemic on mortality rates.

Richard Lyon and Matt Ralph

10 July 2025

1 CPD Point

Master LinkedIn: Strategic networking for actuaries slides

Haylee and Leona conducted an insight session on LinkedIn strategic networking for actuaries, covering profile optimization, engagement strategies, and content creation techniques. The session included discussions on building thought leadership, networking effectively, and leveraging LinkedIn's features to enhance professional visibility and career opportunities. The presenters shared practical advice on timing, keyword selection, and authentic content creation to help actuaries maximize their LinkedIn presence and connect with potential opportunities.

Haylee Kerans and Leona Spencer

1 July 2025

2 CPD Points

Master LinkedIn Strategic networking for actuaries

Haylee Kerans and Leona Spencer

1 July 2025

2 CPD Points

Women Actuaries Connect Event

The Women Actuaries Connect Plus event was launched to strengthen pathways for women actuaries and address professional barriers, with a focus on fostering connections and community building. The event featured a guest speaker who shared their career journey and emphasized the importance of networking, discussing how building meaningful relationships can lead to career advancement. The speaker addressed common fears and misconceptions about networking, providing practical strategies and tips for effective professional connections while highlighting the value of both in-person and virtual networking opportunities.

Kresh Wright

26 June 2025

2 CPD Points

Data Meet Up

The meeting covered various aspects of AI and data science in education and professional settings, including discussions on teaching methods, challenges with AI-generated content, and the use of AI tools in course development and feedback processes. Participants explored the integration of AI in workflows, the importance of human oversight in AI systems, and the concept of instinctive recognition of flawed models. The event concluded with announcements about job opportunities and consultancy services, as well as an invitation for networking.

Luana Woodward

24 June 2025

1 CPD Point

Actuaries in Action; Superannuation & Investments

The meeting featured an insight session where four actuaries shared their career journeys in the financial and actuarial sectors, discussing their experiences in retirement solutions, consulting, and trading roles. The panelists explored the value of actuarial training in various professional settings, including consulting and direct employment, while addressing stereotypes about actuaries and emphasizing the importance of lifelong learning and professional development. The discussion concluded with conversations about actuaries' roles in improving retirement outcomes and their career development journeys, highlighting the significance of mentorship, effective communication, and aligning personal values with career choices.

Aidan Nguyen, Estelle Liu, Hendrie Koster, Shang Wu and Victor Huang

21 June 2025

2 CPD Points

Summit 2025: From Fixed to Flexible, Rethinking Life Insurance Premium Structures to Rebuild Trust and Consumer Affordability

Modern life insurance has deep roots dating back to the 17th Century, with the development of life tables by Edmund Halley marking the start of individual life insurance policies. Today, life insurance plays a unique role in society, offering financial protection and stability for families and communicates in times of loss. The long term nature of life insurance creates enduring obligations for insurers, requiring careful management of risk to ensure that over the many decades a consumer may hold a product that claims obligations can be paid. Australias life insurance sector is mature and thankfully has maintained high levels of solvency over many decades. What about other obligations of insurers, to not only meet long terms claims promises, but also the responsibility to provide products at a reasonable price that align with policy holder expectations from the outset. The performance of Australian Life Insurers in this regard has been less exemplary in recent years. Premium rate changes, typically increases, have gone from a relative rarity to an almost annual occurrence for many consumers. Pricing strategies have evolved and more dynamic pricing mechanisms have been introduced that are intended to reward more engaged customers and regulators have expressed concerns about whether consumers understand what is driving the cost of their cover. Consumers themselves are unhappy with high levels of complaints associated with premium rate changes but consumers protections such as AFCA are excluded from considering the cost of insurance. This presentation will explore whether alternative business models and pricing practices exist in other global markets or historically in Australia that might offer a different or even better balance between the need to meet longer term financial commitments, meet policy holder expectations with regard to the cost of cover and still offer a dynamic and fluid competitive environment. Feedback will also be presented from key market participants including consumers, financial planners, insurers, reinsurers. Finally, the presentation will consider whether these insights and learnings could be adopted in the Australian market and what a potential roadmap could look like.

Ludi Han and Adrian Kerins

13 June 2025

1 CPD Point

Summit 2025: Insurance in Super - Optimising a Dignified Retirement for all Members

The Objective of Superannuation is to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way. The importance of insured benefits in achieving this objective is recognised in the Explanatory Memorandum: • extending what is traditionally thought of as retirement to include the other reasons a member may permanently cease to be part of the workforce, through disability or death; and • recognising the financial impact on members’ income and retirement income where there are periods of interrupted work through disability. The superannuation industry withdrew its Voluntary Code of Practice (VCoP) in 2021. VCoP sort to provide broad simplified guidance to trustees on how to practically implement the inappropriate erosion covenant. The Actuaries Institute has issued guidance (Technical Paper: Superannuation Insurance Cost Assessment) on the inappropriate erosion covenant in the SIS legislation. Around 30% of members who join the workforce at age 18 will experience an insurance event, death or disability, over their working life. Some people will experience multiple insurance events. These are random events that can impact anyone and will, for many, have severe financial consequences. The design of death and disability benefits is therefore one of the key functions of a superannuation fund trustee particularly for those members who do not make a choice of cover. This function includes optimising the balance between: • financial support for the 30%; and • the reduction in retirement income through insurance premiums for the 70%. How might a trustee determine this balance within the boundaries of the legislation? This paper explores various ways of optimising a dignified retirement for a fund’s membership, key elements for trustees’ considerations and how actuaries may support trustees make sound decisions for fund members.

Jeff Humphreys and Karen Lau

13 June 2025