The insurance industry has developed organically over centuries, its growth fuelled by meeting societal needs, but accelerated by historically unscrupulous sales practices. Of course, the latter have been curbed in recent years by increasingly strict regulation in areas such as commission and capital management, but the industry reaps the benefits of history.
It’s been said that the greatest challenge posed by IFRS 17 is its data requirements. But is this really the case?
Andries Beukes asks: How do actuaries allow ourselves to be creative outside of our very narrow comfort zone?
Andries Beukes considers how implementing a Lean culture sets the scene for effective data governance, enabling organisations to achieve great results.
Andries Beukes and Pamela Hellig explain why a fair value loss component is improbable but not impossible under IFRS 17.
Why the fair value approach under IFRS 17 may not be suitable for loss- making business.
The programme of the 2017 MBE Christmas party included an actuarial-related raffle for a bottle of champagne, with all money raised going to a very worthy cause.