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 […]

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 […]

From time to time, I find myself explaining how insurers allow for risk in insurance pricing, product design and underwriting, particularly as this can be seen as a form of direct or indirect discrimination. Indeed, there are already exemptions in anti-discrimination legislation that allow insurers to discriminate in insurance pricing, product design and underwriting in […]

If someone were to summarise what has been happening in the General Insurance industry this year, they might liken it to George Lucas’ attitude on the Star Wars prequel films. When asked about George Lucas’ directing style, many of the actors on the films would say the same thing. “He was great to work with,” […]

Are you prepared for the growing impact of cyber risk on the actuarial profession? Digital threats are rapidly evolving, with one cybercrime reported every six minutes and ransomware causing up to $3b in damages to the Australian economy every year.[1] To address this and its impact on the actuarial profession, the Actuaries Institute’s Cyber Risk […]

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.

Authored by former APRA deputy chair, insurance company chairman and actuary Ian Laughlin, Fairness in Insurance argues Boards sit in a powerful position to hold management to account on customer fairness at a time of record high complaints about insurance, parliamentary inquiries into the sector, adverse publicity about rising premiums and affordability pressures.

In the ever-evolving landscape of risk management, striking a balance between partnership and independence is key. Imagine two climbers scaling a steep mountain, bound by a rope, moving in sync to conquer each challenge. One leads with precision, securing anchors, while the other provides steadfast support. This imagery encapsulates the essence of partnerships in risk […]

The LIPC are pleased to present the results of the 2024 Risk Margin Survey including calibration of Target Surplus and AASB17 risk adjustments. This session is to assist Appointed Actuaries in their professional duties to make recommendations to the Board to set risk margins under LPS 115, calibrate target capital, and calibrate AASB 17 risk adjustments.

Join our session on strengthening operational risk and resilience practices under APRA's CPS 230. Learn strategies for compliance, risk event preparedness, critical operations management, service provider risk, business continuity, and incident management to ensure organisational resilience and regulatory compliance.

Storytelling has been around for thousands of years but can it be used to enhance the risk culture of an organisation? The concept of risk culture has been around for a long time but has been increasingly in the spotlight. APRA defines risk culture as “the behavioural norms and practices of individuals and groups that […]

“Actuaries are financially savvy, technology savvy and have a mindset of continuous learning.”Kriti is a Risk Intelligence Insights Lead at IAG with experience in provisioning, stress testing, credit risk portfolio reporting, risk data, risk systems, risk infrastructure, risk applications, divisional and enterprise-wide risk reporting for executive and Board audiences. She is an Associate Actuary […]

Understandably, actuaries are obsessed with risk. Three plenary sessions at the All Actuaries Summit reminded us that there are different ways to look at risk – and that sometimes the widest possible view is the best. Opening Keynote with Ann Sherry AO In a wide-ranging interview with Win-Li Toh, Ann Sherry called out the range […]

The Australian Actuaries Climate Index results for the summer of 2023\24 show that both low and high temperatures were warmer than usual. In addition, high levels of extreme rainfall and wind were observed in the north east.

Actuaries Institute President David Whittle leads a discussion on the consumer promise of General Insurance. Is the process, payout and the ‘human experience’ of making a claim lining up with the promise made to consumers? Joined by Shez Ford, EGM Consumer at Allianz Australia, and Helen Rowell, David will ask – is it time to rewrite the promise? And what should the new promise look like?

Hear from leading Australian author of thrillers and Non-Executive Director John M Green on the questions you should ask and how you can craft your scenario narratives to better engage management and boards in the risk discussions every organisation needs to have. Joining him in this session is Actuary/Director, Finity Estelle Pearson.