Read here how we carry out thematic reviews and how you can take part
Our Thematic Review Programme is based on collaboration between the IFoA, our members, and the organisations for whom they work. The IFoA’s Regulatory Board launched the programme in September 2019 as part of the Actuarial Monitoring Scheme.
We have a devoted Actuarial Review Team undertaking reviews on topics identified as having the potential to provide useful insight into the work of our members.
The review team wishes to thank all organisations for taking part in our thematic reviews. At mid-2024, more than 60 organisations – from sole practitioners to multi-national consultancies and global insurers – have taken part in at least one exercise.
The programme involves the examination of the types of work being carried out in practice by actuaries within the scope of the review. This often includes review of the work itself, allowing the IFoA to provide feedback and share useful learning and good practice with members and their organisations. The IFoA believes that the benefits for organisations include enhanced information about the quality of the actuarial work upon which they rely to make significant decisions.
You can find up to date information on the current and planned reviews page. This includes information on reviews currently open to submissions.
The form of each review depends on the particular topic and may consist of a mixture of:
We have prepared guidance on submitting examples of actuarial work: Thematic review submission guidance (PDF, 130 KB)
To maintain privacy we provide a confidentiality undertaking with each organisation taking part and provide a secure data transfer system to exchange information: Confirmation of non-disclosure of confidential information (DOCX, 90 KB)
The review team analyses questionnaires, surveys, and case study submissions for trends in the level and types of actuarial work being undertaken.
When reviewing an example of actuarial work, the review team considers:
The review is complemented with direct discussions with participating actuaries to provide an opportunity for the review team to understand more about their submissions. These discussions are voluntary.
Each review is carried over several months in a series of distinct phases. An indicative timescale is illustrated here:
1. Scoping (2 to 3 months)
2. Submission window (2 to 3 months)
3. Review (3 to 4 months)
4. Approval (1 month)
5. Publication (1 month)
We publish a formal report here on the IFoA website for each review. This report provides a snapshot of the work being undertaken in the topic under review based on the evidence. This includes findings relating to the submissions and case studies, and on wider research carried out by the Actuarial Review Team. The report does not, of course, identify any specific submissions but makes general observations on what has been found. It also highlights areas of good practice, including anonymised quotations from submitted examples and case studies, and discussions with those taking part. Reports include a list of organisations that took part, where they have agreed to be named.
We also provide individual private feedback to participating organisations where we have received examples of actuarial work.
The outputs of the reviews are used by the IFoA’s Regulatory Board to ensure its standards, guidance, continuing professional development (CPD) events, professional skills materials and qualifications are as effective and relevant as possible, helping it to exercise its functions and serve the wider public interest.
Read our reports at Actuarial Monitoring Scheme publications. This page features our most recent report, and links to all reports published since the launch of the programme.
Following the publication of each report, the review team hosts a webinar to summarise the report and answer questions. Recordings of past webinars are available for members on the IFoA’s Virtual Learning Environment (VLE).
An enhanced system to promote the quality of actuarial work.
For more information please contact the Actuarial Review Team
Level 2, Exchange Crescent · 7 Conference Square · Edinburgh · EH3 8RA
