David Honour

In this week's article, Liam Gettins explores Principle Component Analysis, its alternatives, and how it can be applied within the actuarial space. https://lnkd.in/eriBV2_c #Actuary #Actuarial #DataScience

28

Python’s growing presence in actuarial work has created new opportunities for teams looking to streamline processes and modernise their toolsets. This case study explores how APR supported a UK life insurer through our Training Services to upskill their team in Python.

33

Jacob Stokes, Actuarial Consultant at 4most, recently shared insights in The Actuary magazine on the rise of bulk purchase annuity (BPA) transactions in the UK and what this means for actuaries working in life insurance.   📖 Read the full article here: https://lnkd.in/eJxnQE8W #4most #BPA #BulkPurchaseAnnuities #LifeInsurance #Pensions

65

10 Comments

What is the number one challenge Life actuaries face in their current role? 33% say limited career progression – so how can insurers provide the development opportunities their actuaries need?  Our Life Actuarial UK Workplace Attitudes Survey looks at salaries, benefits, skills in demand and current hiring trends in the UK life actuarial industry. Request a download of our report here:  https://lnkd.in/eZmk5EUS   #survey #lifeinsurance #actuarial #recruitment 

6

1 Comment

Guest host Martin Mulcare is conducting a series of interviews with past-Presidents of the Actuaries Institute to extract their lessons, reflections and advice for future leaders. This week, Martin sat down with industry legend Helen Rowell, who was the President of the Actuaries Institute in 2002. Drawing on her experience leading the actuarial profession, as well as her extensive senior leadership experience at APRA and on various Boards, she shares some advice for aspiring actuarial leaders: "You need to keep learning, you need to be open-minded. You need to keep thinking outside of your day-to-day work to understand how the wider context in which you're operating is changing and how you stay relevant and add value in that wider context”, says Helen. Catch the full interview between Martin and Helen on the We Are Actuaries podcast, wherever you listen to your podcasts. #actuary #leadership #presidentialperspectives #weareactuaries

4

💡Would the creative actuaries please stand up? In our latest blog Nirav Shah, TMK’s Head of Pricing and Analytics, sets out the case for removing the guardrails for actuaries across insurance to drive innovative thinking. Read more here: https://lnkd.in/eM_ttrxs

16

1 Comment

🚀 Modernising Actuarial Performance for a Competitive Edge The actuarial landscape is evolving, and staying ahead means modernising with purpose. From streamlining actuarial processes to improving data accuracy, governance and model efficiency, MBE Consulting helps insurers build actuarial functions that are faster, more controlled and future-ready. What’s the biggest barrier to actuarial modernisation in your organisation; data, tooling, governance or resourcing? Discover how we drive actuarial excellence: https://lnkd.in/d-8dC3ak #ActuarialPerformanceManagement #RiskManagement #OperationalExcellence #MBEConsulting #ActuarialExcellence #ExcellenceRedefined

5

As an attorney rather than an actuary, I often receive quizzical looks when I request a meeting with an actuarial team to discuss developing models for Enterprise Risk Management (ERM) components. However, once the problem is outlined, their ability to support risk management by identifying and quantifying potential outcomes—and by delivering models with real implementation potential and demonstrable value—is consistently inspiring. Collaborating with actuarial teams to “think outside the box” is always an enlightening experience. It not only enhances the client’s ERM framework but also tends to result in a win-win for all parties involved. The creative brilliance I’ve encountered among actuaries is truly remarkable. - Francis Furey and Frans Kuys at Finalyse exemplify this ingenuity.

6

2 Comments

First Actuarial assists £1bn DB scheme to complete dashboards connection. First Actuarial has helped a defined benefit (DB) scheme with around £1bn in assets under management to complete its connection to the pensions dashboards ecosystem. Carl Fletcher. Check out Martin Richmond’s latest article 👇 https://incm.pub/44nolHd #pensions #pensionscheme #employeepension #finance #retirement

38

📈𝗠𝗼𝗿𝗲 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗻𝗲𝗲𝗱𝗲𝗱 𝗳𝗼𝗿 𝘀𝗺𝗮𝗹𝗹𝗲𝗿 𝗗𝗕 𝘀𝗰𝗵𝗲𝗺𝗲𝘀 𝘁𝗼 𝗮𝘃𝗼𝗶𝗱 𝗮 𝘁𝘄𝗼-𝘀𝗽𝗲𝗲𝗱 𝗺𝗮𝗿𝗸𝗲𝘁 🔍 Smaller DB schemes are 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴𝗹𝘆 𝘄𝗲𝗹𝗹-𝗴𝗼𝘃𝗲𝗿𝗻𝗲𝗱 𝗮𝗻𝗱 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗹𝘆 𝘀𝘁𝗿𝗼𝗻𝗴 🧱 Yet they face 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗮𝗹 𝗯𝗮𝗿𝗿𝗶𝗲𝗿𝘀 like legacy systems, poor data and limited insurer engagement 🧭 The 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗺𝘂𝘀𝘁 𝗮𝗱𝗮𝗽𝘁 processes to ensure accessible and efficient endgame solutions for all scheme sizes 🗨️Ray Hughes, Director and Actuary at Hughes Price Walker “𝑾𝒊𝒕𝒉 𝒕𝒉𝒆 𝒓𝒊𝒈𝒉𝒕 𝒕𝒐𝒐𝒍𝒔, 𝒂𝒅𝒗𝒊𝒄𝒆 𝒂𝒏𝒅 𝒑𝒍𝒂𝒏𝒏𝒊𝒏𝒈, 𝒕𝒉𝒆𝒚 𝒄𝒂𝒏, 𝒂𝒏𝒅 𝒊𝒏𝒄𝒓𝒆𝒂𝒔𝒊𝒏𝒈𝒍𝒚 𝒅𝒐, 𝒂𝒄𝒉𝒊𝒆𝒗𝒆 𝒔𝒕𝒓𝒐𝒏𝒈 𝒐𝒖𝒕𝒄𝒐𝒎𝒆𝒔”  “𝑬𝒗𝒆𝒓𝒚 𝒎𝒆𝒎𝒃𝒆𝒓 𝒅𝒆𝒔𝒆𝒓𝒗𝒆𝒔 𝒕𝒉𝒆 𝒔𝒂𝒎𝒆 𝒇𝒐𝒄𝒖𝒔 𝒐𝒏 𝒐𝒖𝒕𝒄𝒐𝒎𝒆 𝒔𝒆𝒄𝒖𝒓𝒊𝒕𝒚, 𝒓𝒆𝒈𝒂𝒓𝒅𝒍𝒆𝒔𝒔 𝒐𝒇 𝒔𝒄𝒉𝒆𝒎𝒆 𝒔𝒊𝒛𝒆” “𝑰𝒇 𝒘𝒆 𝒅𝒐𝒏’𝒕 𝒕𝒂𝒌𝒆 𝒔𝒕𝒆𝒑𝒔 𝒏𝒐𝒘, 𝒕𝒉𝒆𝒓𝒆’𝒔 𝒂 𝒓𝒆𝒂𝒍 𝒓𝒊𝒔𝒌 𝒐𝒇 𝒄𝒓𝒆𝒂𝒕𝒊𝒏𝒈 𝒂 𝒕𝒘𝒐-𝒔𝒑𝒆𝒆𝒅 𝒎𝒂𝒓𝒌𝒆𝒕” 𝗞𝗲𝘆 𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 ⚙️ 𝗜𝗺𝗽𝗿𝗼𝘃𝗲 insurer engagement for smaller transactions 📈 𝗔𝗱𝗼𝗽𝘁 streamlined buy-in processes 🧮 𝗗𝗲𝘃𝗲𝗹𝗼𝗽 scalable admin and data services 🧠 𝗨𝘀𝗲 real-time funding and risk tools tailored to smaller schemes #DefinedBenefit #Pensions #RiskManagement #Governance #Insurance #Actuarial #DBSchemes #EndgameStrategy #FinancialServices #UKPensions

9

2 Comments

First Actuarial has connected all relevant members of a £1 billion Defined Benefit scheme to the Pensions Dashboards Programme. Despite the complexity of the Scheme – the result of around 12 mergers of legacy schemes each with different rules and benefit structures – data quality was high and few issues had to be referred to the trustees. Read the full story in Consultancy UK:

44

1 Comment

Barnett Waddingham expands risk transfer team with senior hire. Barnett Waddingham has strengthened its bulk annuities and risk transfer team with the appointment of Oliver Ward as principal and risk transfer actuary https://lnkd.in/eJgQGRmX #captive #captiveinsurance

5

𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗖𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝗶𝗲𝘀 𝗼𝗳 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗔𝗰𝘁𝘂𝗮𝗿𝗶𝗮𝗹 𝗪𝗼𝗿𝗹𝗱 𝗕𝘆 Myles Veysey Project management in the actuarial world isn’t just a box to tick - it’s a strategic powerhouse. Actuaries juggle complex calculations and bold business objectives, often stepping beyond spreadsheets to connect with diverse stakeholders. Navigating uncertainty and shifting data calls for smart adaptability and sharp decision-making.   To rise above these challenges, actuaries must go beyond technical mastery and cultivate strong leadership and communication. Flexibility is key - embracing flexible project management unleashes the ability to pivot fast and seize opportunities as they arise.   𝗕𝗼𝘁𝘁𝗼𝗺 𝗹𝗶𝗻𝗲: when actuaries pair their expertise with strategic vision and flexible management, they supercharge project delivery and power their organisations toward success.   #TrueSouth #ProjectManagement #ActuarialConsulting #ContinuousImprovement #BoutiqueExcellence #RiskManagement #ClientFocus

10

If you could start your actuarial career over, what would you do differently? In this reflective moment from Episode 12 of the Actuarial Pod, Javed Kodabuckus, Assistant Actuarial Manager at QED Actuaries & Consultants Ltd, shares what he would change if he were to begin his journey again. Whether you are a student or young professional, this is a must-listen. Tune in now. #ActuarialPod #ActuarialScience #CareerAdvice #ActuarialCareers #ProfessionalGrowth ##UoMActuarialSociety

11

📱 💻 Gadget Insurance: The quiet growth story in UK General Insurance Broadstone's Senior Actuarial Director Cormac Bradley today crunched the latest FCA data on the UK General Insurance market to find that gadget insurance is not only growing in policy volumes but also maintaining fair payout ratios. While many add-on products face regulatory scrutiny and profitability challenges in the General Insurance market, gadget insurance stands out as a resilient performer. Key higlights from the research include: 📈 Policies have risen from 7.87 million in 2023 to 8.46 million in 2024, an annual growth rate of just under 8%; 📊 Stand-alone policies represents the bulk of sales with nearly two thirds of policies sold in this way; 📈 Across both channels, there was a surge in premium income, which rose from £496 million in 2023 to £604 million in 2024, a 22% increase. Read the article in Insurance Times via the article in the comments below to get more info from today's research and more comments from Cormac on why the gadget market is thriving 👇

15

1 Comment

In our final column in the series for Actuarial Post, the Bolton Associates’ Spotlight page is now focussing on something slightly different, a hybrid between two markets. This month Kirsty Whitmore speaks to Philip Towell, Medical Protection Society https://bit.ly/3LK42NF

27