Together we changed policy conversations
As a professional body whose members can make a practical difference to key policy decisions, it is important that the voice of actuaries is heard by decision-makers, directly as well as through the media.
During the year, we worked particularly hard to ensure cut-through and impact in print, on social media and in person.
Together we...
Connected experts with politicians in the Great Risk Transfer campaign - to explore the ‘transfer’ of financial risk from organisations to individuals
Creating impact by
- Receiving 50 responses to the call for evidence
- Publishing the final report, and launching it with Demos and Stephen Timms MP, Work and Pensions Select Committee chair
- Tailoring the message for key opinion formers on social media, reaching more than 120,000 people with 7,000 video views
Together we...
Published bulletins focused on Inclusive Insurance
Creating impact by
- Leading the conversation on how to ensure the needs of everyone, including the most vulnerable, are covered by insurance companies
percent year-on-year increase in policy traffic
Together we...
Provided more than 20 consultations and responses on a range of topics
Creating impact by
- Enhancing and supporting the conversation on dormant assets, the economic consequences of Covid-19, climate change, and vulnerable financial services customers
More than
consultations
Sustainability and climate change
The past year saw an increasing focus on sustainability issues including the IFoA's first Climate Change Statement.
This new statement commits to advocating for the development of consistent policy frameworks worldwide that aim to achieve the Paris Agreement objectives, support actuaries in their understanding of climate issues, and develop and implement a plan for the IFoA to be operationally net-zero by 2030.
Climate-related risk may be the defining risk of our times. Actuaries have an important role in assisting others to mitigate the worst effects of climate change. These include not only the long-term catastrophic risk to the world, but also the costs and risks to companies of transitioning to a low-carbon environment which, even now, are impacting company results and are becoming subject to disclosure requirements.
Louise Pryor, IFoA President
Informing the policy debate
Together, we brought actuarial insight and expertise to a range of critically important social issues, driving engagement with the profession, policymakers, and the public.
IFoA Fellow Brinley Davies became a peer in the UK House of Lords - the first qualified actuary to enter Parliament for more than fifty years. Lord Davies took part in the bill reading for new laws to allow skilled professionals from around the world to have their qualifications recognised in the UK.
“The Institute and Faculty of Actuaries is an exemplar of a professional body that is an exporter in its own right for its international membership. Many actuaries across the world, not just in the UK, regard membership of the UK’s professional body for actuaries as important in its own right, even when they do not practise in the UK and have no intention of doing so—it is often, increasingly, alongside a local qualification. This benefits everyone.’’
Lord Davies of Brixton, IFoA Fellow
