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The International Actuarial Association hosted four seminars in Zürich, from April 7–9, on insurance risk management topics, a proposed new syllabus and set of education guidelines for qualified actuaries, mortality, and actuarial standards.
The Risk Management and Regulation Seminar attracted 63 attendees, and focused on methods and procedures commonly used to improve the sustainability of long term pooling of risk via insurance. Two unique perspectives were proposed. The first was to view these methods and procedures as risk mitigants that bring both value and residual risks that need to be assessed and managed. The second was the proposal to organize these topics into an online, updateable, library suitable for regulators, management, the public and academics. Attendees and interested parties included the International Association of Insurance Supervisors, Bank for International Settlements, and Geneva Association, plus actuaries, local regulators, and academics. A subgroup of the Insurance Regulation Committee led the seminar, which concluded with an independent review of the library’s current content and how to enhance it.
Ninety people participated in the Education and Syllabus Review Seminar led by a task force of the Education Committee. The updated education syllabus explicitly sets out the depth of knowledge and application required, based on the Revised Blooms Taxonomy. Adopting this model of learning objectives allows the profession to define not only the areas of learning achievement expected of future actuaries but also the specific level and type of knowledge required of them. This will give Full Member associations a way of linking the required learning objectives with appropriate activities and assessments. The seminar’s aim was to present the work produced to date that is likely to significantly impact the education requirements of IAA Full Member associations, and to obtain their input into this work.