The Seminar attracted over 80 participants representing 27 countries and was well received.
The speakers were Assia Billig (Chair, PIWG), Brian Ridsdale (Chair, MWG), Sam Gutterman (Co-Vice-Chair, PIWG), Martin Stevenson (Co-Vice-Chair, PIWG), Ermanno Pitacco (Co-Vice-Chair, MWG), Simon Brimblecombe (Responsible Investment, Actuarial Work and Research at International Social Security Association), Al Klein (Co-Vice-Chair, MWG), Prof Andrew Cairns, (Director of the Actuarial Research Centre (ARC)) and Gyula Horváth (past president of the Hungarian Actuarial Society/Magyar Aktuárius Társaság).
The seminar topics covered important current issues such as: whether current levels of mortality improvements are slackening off, whether we have the right assumptions regarding mortality at high ages, how mortality is likely to change in the future and what might drive these changes. It also covered new research in progress, and how this research may influence future actuarial practice. The aging of populations puts significant pressure on retirement, long-term care and health systems. The seminar discussed how actuaries can influence solutions that mitigate the stress, and how future demographic developments will impact our work.
The seminar concluded with an interesting panel discussion on the applicability of the main conclusions of the seminar to real-life actuarial work. This panel discussion was introduced by Gyula Horváth sharing some valuable insights into mortality trends in Hungary.
Assia Billig said “our working groups are very pleased to have an opportunity to discuss important topics of ageing and longevity, and their impact on public policies and actuarial work with representatives of many national actuarial associations. We would like to acknowledge the valuable contribution of the Actuarial Association of Hungary to the event, both through participation in the panel discussion and through the wide representation of Hungarian actuaries.”
The presentations made at the seminar are available on the IAA website.
The PIWG and MWG are planning a seminar on “Mortality and Other Contingencies: Actuarial Science and the Public Interest” on 3 October 2017 in Chicago in conjunction with the IAA Council and Committee meetings. Further details will appear soon.
This activity supports the IAA’s mission to promote the role, reputation and recognition of the actuarial profession. Further, it contributes towards achieving the IAA’s strategic objective to facilitate the coordination, use and expansion of the scientific knowledge and skills of the actuarial profession, to help enhance the scope, availability, and quality of actuarial services offered by individual members of its member associations.
To learn more about the work of the IAA on this topic, contact the Director of Technical Activities at the IAA Secretariat.