The Institute and Faculty of Actuaries (IFoA) has launched a new group to lead and coordinate its response to the coronavirus crisis and is asking volunteers to help.
The IFoA COVID-19 Action Group (ICAG) will explore how the pandemic might impact insurance companies, pension funds, banks, investment managers and other financial services.
It is looking for volunteers for a series of working groups, and for suggestions on topics to address that are related to specialist areas covered by the IFoA and professional actuarial work.
The ICAG will also cover demographic developments of the virus, and the economic consequence of policy actions. It comprises IFoA incoming president elect Louise Pryor, Life Board chair Colin Dutkiewicz, and Communities head Jo Davis.
“We are in very unsettling times,” Pryor said. “COVID-19 is having huge effects on all of us, on our families and how we work.
“At a time like this, the IFoA has a significant role to play, both in supporting our members and in responding to the wider societal challenges. We've therefore set up an ICAG to lead and coordinate our activities in this area.
“We are especially keen to hear from people who are willing to take the lead and chair a group. We look forward to hearing from you and working with you over the coming weeks and months, and demonstrating the value actuaries can add to society.”
To volunteer, or suggest ideas, email [email protected] with:
- Your name, employer, country of residence
- Areas of experience and expertise
- Specific areas of focus that you are interested in
The ICAG seeks to coordinate work with the COVID-19 Actuaries Response Group, which is an informal group, not affiliated with the IFoA, focusing on rapid reactions to events.
The IFoA has also announced that its Continuous Mortality Investigation (CMI) will publish weekly mortality updates during the coronavirus pandemic.
An update published yesterday suggests that there were 59% more deaths registered in week 14 of 2020 than if standardised mortality rates had been the same as week 14 of 2019.
All updates are publicly available on the CMI's mortality monitor page.