When we started discussing the 2021 IFoA’s Thought Leadership Series and how we could position it in support of our purpose – that is, to be the voice of actuaries, and to support, develop and be the voice of our members – we knew member involvement had to be at its heart, not least because thought leadership is often described as being when one person’s thoughts are used to lead others.
As the world prepares to ratchet up international negotiations during COP26, editorially we continue to highlight and support the work of actuaries and others who are contributing to the bold thinking required to solve the climate change problem – and this issue of The Actuary is no different. As Louise Pryor said in her presidential address, climate change isn’t a risk, but a certainty.
With the turn of the IFoA’s sessional year – and a new president and Council installed – comes the opportunity to take a fresh look at our future. Much has changed since the onset of COVID-19, but one thing is certain: we won’t see the pre-2019 world again, and the only way is forward.
Welcome to the August edition of The Actuary. During the summer months, previous editors probably imagined readers enjoying their print copy poolside, with a glass of something refreshing involving coconut and an umbrella. This is unlikely to be true in the majority of cases while part of the world is still in lockdown and travel restrictions are the norm. More likely, you are indoors when the issue arrives. Whether you are having a staycation or local break, I hope you find the magazine interesting and relevant, and it brightens up your day. Let me tempt you with some highlights from this iss
Shortly after being offered the opportunity to join the IFoA as CEO, I made it a priority to pore over the results of the all-member survey that had just landed. Some of the feedback was truly heartening: it was inspiring to see how excited our student population is about the professional journey ahead of them. The commitment of our volunteers, as ever, shone through. And given the importance that the IFoA places on diversity, equity and inclusion, it was encouraging to see how members from around the world come to us – and stay with us – because they believe the IFoA is a place where they can
What new skills have you developed recently? Our professional development arguably begins only after qualifying as an actuary – not because the exams aren’t useful (I for one couldn’t do my job without having learnt the required minimum), but because making a career that is right for us requires us to negotiate our own particular challenges and learn skills that have not yet made it into the standard syllabus.
This month we interview Kristian Niemitz, head of political economy at the IEA, who posits that there is a better way to organise a health system than the NHS, in order to deliver improved outcomes (p12).
I read The Actuary article ‘Home truths’ (May 2021) with dismay. Those who have designed these equity release mortgage products do not seem to understand the possible events as one or other of a couple become elderly. They do not die or move into long-term care simultaneously. For one reason or another, either while one or both are alive, there may well be a good reason to sell their home, and this is where the early repayment charge (ERC) cuts in.