Cyber (Re)insurance Working Party

Application closing date: 26 May

The IFoA is seeking to appoint both members and suitably experienced non-members to join the refreshed Cyber (Re)insurance Working Party in the general insurance practice area.

Background

Cyber risk is continually evolving and naturally presents challenges to actuaries in all areas of traditional general insurance actuarial work. Unlike other risks, cyber presents the unique potential for global systemic aggregation, while also still, subject to smaller localised aggregations as observed in recent years as well as attritional deteriorations.

The rapid advancement of AI tools transforming both the cybersecurity landscape and the nature of attacks themselves adds a further layer of complexity that the profession must be equipped to address.

We are seeking volunteers to join this refreshed general insurance Cyber (Re)insurance Working Party launching in July 2026 to tackle the following (but not limited to) challenges:

Pricing and underwriting: Developing sustainable pricing and underwriting approaches amid a softening market, evolving risk landscape, and the growing influence of AI on both attack vectors and cyber defences.
Reserving: Ensuring reserves accurately reflect the constantly shifting claims development characteristics, from early third party liability dominance, through the 1st party ransomware surge, to the current mixed environment.
Aggregation and capital: Building and validating a view of systemic cyber aggregation risk alongside vendor models, to inform capital setting and reinsurance strategy, managing tail volatility within risk appetite.

Skills/experience

We welcome actuaries at all career stages who are currently working in or closely adjacent to cyber risk – whether in pricing, reserving, capital modelling, or reinsurance. You do not need to be a cyber specialist to contribute – curiosity, analytical rigour, and a willingness to collaborate are equally valued.

Outputs

The working party aims to produce practical, practitioner-focused outputs including guidance notes, best practice frameworks, and research papers to help actuaries across the profession be better equipped to deal with the challenges cyber risk presents.

Time commitment

The time commitment varies but will not be more than a maximum of half a day per month for members. The working group will aim to have monthly meetings with more regular meetings as required.

Next steps

If you are interested in this role and would like an informal conversation before applying, please email us at engagement.team@actuaries.org.uk.

If you have read all the above and would like to apply, please send us:

brief details of your relevant experience
your reasons for wishing to get involved
your ARN (if you are a member)
a brief copy of your CV and full contact details (if you are a non-member)
confirmation that you have read, understood, and agree to the information and requirements laid out in our volunteer information pack (please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer)

Please email all the above to engagement.team@actuaries.org.uk. Please note, we are unable to accept late applications.

We are committed to promoting diversity, equality of opportunity, and inclusion, within all our vacancies and we actively encourage applications from a diverse range of potential candidates. Recognising and embracing the unique and diverse talents of our volunteers is fundamental to the success of our organisation.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s governance manual and volunteer information pack. Before offering to provide support, please read through: what you need to know.