In this Normal Deviance Column, Hugh takes a quick history tour through overhyped artificial intelligence claims and the implications for gauging the value of modern tools. In 1770 in Vienna, the capital of the mighty Habsburg Empire, a new curiosity was unveiled. Sitting behind a large box was the head and torso of a mannequin, […]

In the latest article in the General Insurance Practice Committee (GIPC)’s GI Reserving Working Group series, we explore ways that actuaries can drive improvement. We summarise recent work across five, mostly large insurers, where teams have updated or overhauled legacy spreadsheet processes to tackle various challenges, such as the complexities of a changing portfolio, tight […]

The Australian Actuaries Climate Index (AACI) for the summer of 2024/25 shows high sea levels and warm temperatures in Western Australia. Sea levels continue to be elevated across Australia. The Southern and South Western Flatlands (West) cluster, which covers Perth and the surrounding area, observed the highest sea level index value ever. The Bureau […]

This article compares the sequencing risk faced by a retiree or an annuitant who invests in a “balanced” portfolio with that resulting from investing in Australian shares, international shares or a combination of Australian shares and cash. The comparisons use both the Austmod historical data and simulated scenarios. What is sequencing risk? Sequencing risk is the risk […]

As business decisions face growing scrutiny, professionals across industries are striving to establish robust ethical frameworks to steer their choices. At the 2025 Asia Pacific Ethics and Professionalism Seminar, Stuart Turner, Chair of the Actuaries Institute’s Professionalism Committee, was joined by actuaries Iris Lun, Ian Laughlin, Sarah Esley, Christian Barrington, Saffron Sweeney and Paul Carrett […]

In the second edition of this series, we speak to Andrew Tang and Keri Lee, two Australian actuaries working in Asia. While Andrew and Keri work within companies that employ actuaries in core practice areas, they are both working in roles that actuaries are not typically placed in. Andrew’s career journey Andrew is currently the […]

March 2006 was a month of big releases. David Attenborough’s nature documentary Planet Earth premiered on the BBC. Jack Dorsey sent out the first ever tweet on Twitter. English-language Wikipedia published its one millionth article. And, perhaps most importantly to me at the time, Ice Age: The Meltdown came out in cinemas. And while it […]

From climate volatility to quantum computing threats, the actuarial profession faces an evolving risk landscape. In late 2024, the Institute surveyed members to identify emerging risks across practice areas, with strong responses from those in general insurance, life insurance and risk management. Respondents identified both mainstream and ‘left-field’ concerns. In this article, we identify top […]

The anticipated arrival of quantum computers poses significant cybersecurity risks for those who do not prepare early. Commercially useful quantum computers are still a decade away by most expert estimates, but that does not mean Directors and Chief Risk Officers can afford to wait to act. Organisations that do not start preparing now, will face […]

Australian actuaries have been relatively advanced in our general insurance reserving approaches for decades – a fact highlighted by the stark contrast between methodologies and international approaches. A recent article on general insurance (GI) reserving authored by Andrew Manton-Hall of the General Insurance Practice Committee (GIPC)’s Reserving Working Group, was an excellent summary of a […]

Although we may be entering a new era of ‘greenhushing’, events such as the devastating LA wildfires and Tropical Cyclone Alfred remind us that climate risk is not going away. In fact, reports show that previous Northern Hemispheric summer was arguably the hottest for the last 125,000 years, and full year of 2024 exceeding 2023’s […]

In this Normal Deviance column, Hugh reflects on the challenges of managing teams as technologies and tools develop. I recently reached a milestone. Based on current life tables, I am halfway through my life. A full-blown mid-life crisis has yet to materialise; rather than donning a fedora and joining a commune, I’ve settled, at least […]

What if the traditional life insurance application process could be completed in minutes? The traditional life insurance underwriting process has remained largely unchanged for decades. But as consumers expectations shift towards instant digital experiences, how can actuaries leverage AI to create a streamlined, data-driven experience that delivers faster decisions without compromising risk assessment quality? The […]

One of the key goals of the Investment Ideas podcast is inspiring actuaries who have gravitated towards investing to reconnect with their profession. In this special article, Douglas Isles, the co-host of the podcast series Investment Ideas, shares his career journey across both disciplines and explains the benefits from having his feet in both camps. […]

In one of his final acts before he retires from parliament, the Assistant Treasurer and Minister for Financial Services, the Hon Stephen Jones MP, is pressing ahead with the Government’s commitment to legislate a full ban on the use of genetic tests in life insurance underwriting in Australia. This follows a year-long review conducted by […]

Actuaries spend a lifetime learning skills that make them a valuable part of many financial services and public policy teams. Learning happens in a wide range of ways, including university courses, studying for exams, attending webinars, earning microcredentials, serving on professional committees, working on projects in new areas or collaborating with academics. New areas of […]

What if your home could prevent insurance claims before they happen? As smart home technology becomes increasingly accessible, traditional home insurance models are changing–and actuaries can be at the forefront of this revolution. In our new series, AI Case Studies, we share hypothetical examples to illustrate how AI may transform insurance processes in real-world […]

In this edition of‘I am an Actuary’we spotlight the journeys of seven young professionals who transformed curiosity into purpose within the actuarial profession. From unexpected career test suggestions to international opportunities, these actuaries share their evolution from asking“What’s that?”to discovering how actuarial work extends far beyond numbers. Effie Zhang My approach […]

In their latest article, the Mortality Working Group shares excess mortality analysis for the first 11 months of 2024. In summary For the first 11 months of 2024, against a baseline that includes anticipated COVID-19 deaths, total mortality was 1% higher than predicted, which is just within the 95% confidence interval. The statistically significant outcomes […]

Nearly five years since it was last updated, the Institute has revised and enhanced its Public Policy Statement on Climate Change. This reflects recent submissions to the Government and industry bodies in this rapidly developing area, along with heightened interest, passion and leadership from actuaries working in this field. Climate change poses serious risks but […]