Disruptive technology has become something of a catchphrase in contemporary conversation. Most believe that Harvard Business School professor Clayton M Christensen coined the term in 1997, and it refers to groundbreaking technology that displaces established methods, shaking up and sometimes creating completely new industries.
It is a time of change. This brings about challenges, opportunities and risks, and I am honoured to be taking on the leadership of the IFoA at such a time. I believe that the skills and value actuaries can bring are more relevant and needed than ever before.
A year ago, I closed my presidential address with these words from Thomas Edison: If we do what we are capable of, we will astound ourselves, and subsequently I have focused on what the IFoA can do to enhance our collective thought leadership.
This season has once again seen a large number of our members participate in the IFoAs residential conferences, with many of you preparing to depart for the Life Conference as this edition of The Actuary arrives through your letterbox.