|Title and status
Use of data science in actuarial work for analysis and modelling in traditional fields and wider domains
Status: report published
Data science covers a range of techniques used to analyse and model large and diverse sources of data. This may include the use of complex modelling techniques, such as machine learning, across a range of programming platforms.
This exercise will gather information and case studies on the range of ways data science is developed and used by actuaries across different practice areas and work functions, both in and outside the UK. It will also seek to gather such information in wider fields and new domains.
Pensions on divorce
Advice given to individuals to assist with treatment of pensions on divorce
This is a niche area of work where actuaries provide advice and calculations on pension sharing in divorce cases. This may include expert witness activity for court cases.
The review will look at current actuarial practice in this area. It will also cover the way actuaries provide their advice to customers.
This continues our ‘Actuaries as Experts’ series of reviews looking at narrower, or less typical, fields of expertise and/or actuaries providing advice directly to individual clients or consumers.
Treatment and quantification of cyber risk by actuaries, including insurance of risks.
Cyber risk is now an established risk being managed by firms employing actuaries.
The work of actuaries in this field may include quantifying and managing risks from potential cyber events, developing and pricing cyber risk products, and identification of potential latent risk from legacy products not intended to specifically cover cyber events.
This review aims to understand better where and how actuaries are involved in the management of cyber risk both within their firms, and through cyber risk products which are sold to third parties.
Documents for participants will appear here following launch
Title and status
Pension scheme design
Advice given to trustees or sponsors on changes to member benefits
Target launch 2024
Actuarial advice is critical when benefit changes are proposed for UK DB pension schemes, as it affects the accrued or future benefits payable to scheme members.
The advice in this area ranges from changes to future benefits (including closure to new accrual) to adjustments to the timing or structure of accrued benefits. The review will look at current practices adopted by actuaries in pension scheme design affecting groups of scheme members. It will also cover the treatment of potential conflicts of interest.