The Melville Actuaries Summit Prize funded by the late Mr Tig Melville, is presented to the author of a paper considered by the judging panel to have:
- achieved an advance in the profession’s understanding or knowledge of a specific subject or sphere of knowledge; or
- collected or presented existing material intended to raise the awareness of the profession regarding an important contemporary issue.
In presenting this award, the Melville Prize Judging Panel, determined that:
'For actuaries involved in product development, pricing or underwriting, ‘discrimination’ based on data has long been a core part of the job. But the world is changing, and now we need to ask ourselves whether such discrimination is both legal and ethical.
The seminal paper Actuaries and Discrimination by the Anti-Discrimination Working Group, delivers a true advancement in the profession’s understanding of, and approach to, data based discrimination. All actuaries, whether involved in pricing, data analytics or valuations, should read this paper. It is a very worthy winner of the Melville Prize and a landmark paper in the way we think about our core role as actuaries’.
Congratulations to the Anti-Discrimination Working Group on their paper The Australian Anti-Discrimination Acts: Information and Practical Suggestions for Actuaries.
Chris Dolman (Chair)