Life insurance

2 CPD Points

Life Insurance Sustainability Guide

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

2 CPD Points

Disability Insurance in Australia: Findings and Recommended Actions

The Disability Insurance Taskforce has released its final Paper, Updated Findings and Recommended Actions. This Paper offers key recommendations to promote sustainability across disability insurance and align with meeting APRA's sustainability expectations for IDII and beyond.

3 CPD Points

Individual Disability Income Insurance Sustainability Guide

This Sustainability Guide (Guide) has been developed by the Actuaries Institute Disability Insurance Taskforce (the Taskforce) to support actuaries in their various professional roles, other insurance professionals, boards, management, regulators, and other interested parties with the aim of creating or enhancing practices to promote sustainability in the retail Individual Disability Income Insurance (IDII) market, in line with APRA’s expectations and sustainability measures. The range of professional roles in which actuaries work includes in pricing and valuation teams, as Appointed Actuaries, in risk management functions, as executive leaders and board members. This Guide is intended to help actuaries and any other readers to consider critical aspects of product design, operational practices, pricing uncertainty, risk management and risk appetite. It provides clarity about important practices that may lead to poor sustainability. Actuaries and other readers should consider using this Guide to help continually improve their frameworks, policies and day to day practices to mitigate risks and improve long term IDII sustainability for consumers and insurers.

3 CPD Points

Findings and Recommended Actions for Individual Disability Income Insurance

The Disability Insurance Taskforce (the Taskforce) set up by the Actuaries Institute has conducted a comprehensive review of issues with Individual Disability Income Insurance (IDII) in Australia. This document is largely an update of the report (the Original Document A) which was issued in September 2020 for consultation with interested parties. This document contains an overview of the feedback received through the consultation process, the response of the Taskforce to that feedback and the final recommendations from the Taskforce. The work was done to support actuaries in their various professional roles, other insurance professionals, boards, management, regulators, and other interested parties, with the aim of creating or enhancing practices to promote sustainability in the retail Individual Disability Income Insurance (IDII) market, in line with APRA’s expectations and sustainability measures. The range of professional roles in which actuaries work includes in pricing and valuation teams, as Appointed Actuaries, in risk management functions, as executive leaders and board members.

3 CPD Points

Impact of COVID-19 on Mortality and Morbidity in 2020

With a full year fof mortality experience since the beginning of the pandemic, what does it tell us about deaths worldwide and in Australia? And how might future morbidity and mortality be impacted?

3 CPD Points

Product Sustainability Working Group: Retail Advised Lump Sum Product Sustainability Final Report

2 CPD Points

Disability Income Data Collection Guide

This document is intended as 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. The document is intended to be useful for all life insurance practitioners.

3 CPD Points

The Future of Life Insurance

The Actuaries Institute has today released the fifth paper in its thought leadership series *The Dialogue - leading the conversation. 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.

3 CPD Points

Genetics – A Testing Time for Insurers?

The Actuaries Institute has today released the second paper in its thought leadership series The Dialogue - leading the conversation. Written by two senior actuaries, Alan Doble and Jessica Chen, Genetics - a testing time for Insurers? considers the implications of genetic testing on life insurance.

3 CPD Points

Adviser Retirement Methodology Survey Results

The Actuaries Institute Retirement Incomes Working Group (RIWG) arranged a survey of financial planners as part of its research program into the methodologies adopted by advisers in providing financial advice, particularly in a retirement incomes context. The objectives of the Institute are firstly, to understand the industry and current advice processes, and secondly, if possible to contribute constructively to the development of tools and processes which may be of assistance to planners and their clients.

2 CPD Points

Work Capability Assessments in Individual Disability Income Insurance: Introductions and Considerations for Actuaries

This Paper, Work Capability Assessments in Individual Disability Income Insurance: Introduction and Considerations for Actuaries, 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, the Paper offers relevant case studies and principles for consideration when assessing work capacity at time of claim.

3 CPD Points

Fairness in the Life Insurance System – Concept Note

This note considers one aspect of fairness in the life insurance system. It is intended to assist interested parties to understand the concepts at work.