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Why is the actuarial profession involved in research into m ortality?

Scoping multi-disciplinary research into mortality Brian Ridsdale Chairman, Continuous Mortality Investigation. Why is the actuarial profession involved in research into m ortality?. Clients include: Life insurers – benefits paid out (ABI 2006) Life and annuities - £45bn

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Why is the actuarial profession involved in research into m ortality?

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  1. Scoping multi-disciplinary research into mortalityBrian RidsdaleChairman, Continuous Mortality Investigation

  2. Why is the actuarial profession involved in research into mortality? Clients include: • Life insurers – benefits paid out (ABI 2006) • Life and annuities - £45bn • Pensions - £95bn • Income protection etc £1bn • Occupational pension scheme liabilities (NAPF 2006) • Self Admin Defined Benefit £800bn • Other non-insured DC and PersPs £550bn • ONS • Banks, general insurers, others

  3. Where is the actuarial profession involved in mortality research? • Continuous Mortality Investigation • Life office mortality and morbidity • Self Administered Pension Schemes • GAD and ONS on population • City and Heriot Watt • A variety of specialist actuaries • Working groups

  4. Mortality developments:Three areas of interest • Understanding the past • Projection methodologies • Projecting future morbidity and mortality

  5. Mortality developments:What’s missing? • Understanding impact of cause of death • Cohort effects developing • Old projection methodologies proving inadequate • Increasing uncertainty • Financial impacts of developments • Need for better understanding of risk • Need for better communications

  6. Scoping multi-disciplinary researchinto mortality: Why? • We need a wider, multi-disciplinary perspective • We believe we have data, expertise and resources to contribute to other research • The economic and social implications make it a vital area for the future

  7. Mortality and morbidity developments What to do? • Identify experts in other disciplines • Survey state of knowledge – across disciplines • Bring together users and researchers • Understand areas of common interest – and barriers to tackling them • Communicate the decisions • Start tackling the issues

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