Insights
Life Insurance

Life Insurance Annual Market Update

Presented by Mark McClenahan, Colette Reid and Edward Tam

Virtual and In-person at Actuaries Institute Events Space
Level 7, Australia Square, 264 George Street, Sydney, NSW 2000, Australia

4 CPD Points (In-Person attendance)

2 CPD Points (Virtual attendance)

12pm - 2pm, Tuesday 17 November 2026

12pm - 2pm, Tuesday 17 November 2026

12:30pm - 1:30pm, Tuesday 17 November 2026

image of three life insurance actuaries discussing industry updates

Keep up to date with LIPC's essential annual briefing on the forces shaping the Life Insurance landscape. This year the session will focus on disability product sustainability across both the retail and group sectors.

The presentation will start with insights from a Retail TPD experience study from selected insurers in the market and discuss, given that evidence, what actions could be taken to improve sustainability.

The session will then explore product innovations and present a comparison of recent innovations for Retail TPD products, which include severity-based assessment or instalment payments for conditions which are not conclusively assessed to be permanent.  

The presentation will then shift to the group insurance sector and explore the importance of clearly defined TPD objectives, summarise key issues from the perspective of various stakeholders, and discuss the complexity created by the variety of TPD definitions across the market.

The presentation will conclude with an overview of alternative member- centric designs, potential pricing impacts and key considerations for trustees.


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About the presenters
Mark McClenahan
Mark is Swiss Re's Head of Pricing across Australia and New Zealand markets. In this role he is responsible for the pricing and performance of the AU & NZ business. His team partners with clients on the design, pricing and profitability of retail and group insurance. Prior to Swiss Re, he worked across life insurers and consulting in Valuation, Investment and Retirement roles.
Edward Tam
Edward Tam is a Director at Dataly Actuarial with over 20 years of experience in group pricing, superannuation and retirement. Prior to joining Dataly, he spent 17 years in consulting with KPMG and worked in direct insurer with AMP and TAL. He is currently the secretary of the Insurance in Super Sub-Committee and vice-chair of AI Advice Working Group.
Colette Reid
Colette Reid is a qualified actuary with over 30 years experience in life insurance and reinsurance, including valuation, pricing, capital, business strategy and reinsurance strategy. Prior to working as an Actuarial Advisor at APRA, Colette was a Director at KPMG performing Appointed Actuary and independent actuary review work and supporting the CALI experience investigations. Colette’s experience includes Chief Actuary and CFO of AXA Life Re Australia, Appointed Actuary at Pacific Life Re Australia and Head of Pricing at MLC.

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