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Application closing date: 5 October

The IFoA is seeking to appoint 4 to 6 members to join the Future of Insurability Working Party. Both IFoA members and suitably experienced non-members are welcome to apply.

The aim of the working party is to explore the future of insurability in the face of emerging risks, with an initial focus on climate change, by examining: 

• technical actuarial aspects (such as risk modelling, pricing and underwriting for increasingly extreme events)
• strategic policy solutions (such as addressing insurance protection gaps and developing public–private insurance schemes) 

The working party’s purpose is to identify how the UK insurance industry (with insights applicable globally) can maintain affordable, sustainable coverage for society as climate change progresses and the risk landscape evolves.

Potential areas of research and outputs

• Literature review covering existing research (for example Too hot to insure, Interconnected disaster risks 2023, InsuResilience reports)
• Examination of technical issues such as adequacy of catastrophe models, pricing of increasingly extreme events, solvency/capital impacts
• Exploration of strategic issues such as product innovation, risk mitigation incentives, climate adaptation
• Consideration of policy issues such as closing the insurance protection gap, public–private partnerships, and pooling arrangements (for example flood re, pool re)
• Regulatory issues including international approaches and their success/failure
• Outputs expected: series of blogs, webinars, policy engagement paper

The working party would like to present at IFoA conferences. 

Time commitment

Members of this working party are asked to devote 2 to 4 hours per month to further its research.

The working party will initially meet every 2 weeks and will move to monthly meetings once the group are established and outputs confirmed. All meetings will be held online: location is not a barrier.

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.