A dynamic and growing area of the actuarial profession, actuaries working in general insurance apply principles of statistics and probability 鈥� and increasingly data science and machine learning 鈥� to 3 distinct (but connected) areas:
General insurance is also known as 鈥榥on-life鈥� or 鈥榩roperty and casualty鈥� and encompasses a range of coverage types 鈥� effectively anything that is not life or health insurance 鈥� that protect the insured against damage to property, and/or liability for damage, injury, or economic loss to others.
Examples range from the familiar personal motor or home insurance policies to highly specialised, large, and complex commercial risks.
Explore all 黑料正能量鈥檚 active general insurance research working parties.
The IFoA鈥檚 General Insurance Board is a member-led board of senior volunteer actuaries that actively influences the environment in which general insurance actuaries practice. It advises 黑料正能量 on important general insurance issues and sets key objectives annually.
Further information for volunteers, including tips on how to chair a meeting, can be found in our volunteer information pack.
Membership is drawn from a broad cross-section of the general insurance community to ensure full coverage of all general insurance-related issues. Its current members are:
The board operates within a terms of reference (PDF, 150 KB). Through the following key purposes, it supports 黑料正能量鈥檚 Council in the delivery of its corporate strategy. The board aims to:
The General Insurance Board has oversight of and is supported by the:
The GILL Committee is responsible to the General Insurance Board for all matters relating to CPD being undertaken by the general insurance practice area and development of 黑料正能量鈥檚 annual offering of general insurance conferences and seminars, including the flagship GIRO conference.
The GILL Committee has key objectives which include:
GILL task and person specification (81 KB PDF)
The GILL Committee operates within a terms of reference (57.4 KB PDF). It supports 黑料正能量鈥檚 Council in the delivery of its corporate strategy.
For those who could not attend GIRO, we are pleased to offer recordings of some of the sessions which are available to purchase, download and view from your device. To find out more, visit the IFoA's Virtual Learning Environment.
The GIRTL Committee is responsible to the General Insurance Board for all matters relating to research and thought leadership, specifically within the general insurance practice area.
The GIRTL Committee鈥檚 main objectives are to ensure relevance and research for the general insurance community and consider new and emerging research over a continuous time horizon. The work of the committee is split into four workstreams:
The GIRTL Committee operates within a terms of reference (57.1 KB PDF). It supports 黑料正能量鈥檚 Council in the delivery of its corporate strategy.
GIRTL is supported by research groups as follows:
The committee is seeking comments and assessing interest from members of the general insurance actuarial community on a range of areas to research.
After considering the community鈥檚 responses, the committee will begin the process of putting together appropriate volunteering teams to carry out what is hoped to be rewarding research work.
We look forward to hearing your thoughts on these questions through our email address professional.communities@actuaries.org.uk.
The General Insurance Standards and Consultations Committee ensures that regulation relating to general insurance is kept up to date and help to provide general insurance actuarial input into government and regulatory policy.
The committee:
Membership is drawn from a spectrum of senior actuaries with experience in addressing policy issues, and maintaining standards.
The committee operates within a terms of reference as laid out in 黑料正能量鈥檚 governance manual.
GIROC reports on all matters relating to the profession in connection with the practice and process of reserve estimation for general insurance business.
The work of the group is directed by the themes of:
The group achieves this both via its working parties and through events. Events we have planned are:
Membership is drawn from a broad cross-section of the general insurance community to ensure full coverage of all reserving issues
The group operates within a terms of reference (34.4 KB Word doc).
The London Market provides a focus for many insurance companies and syndicates operating under a Lloyd鈥檚 of London banner to write large commercial risks such as supermarkets, football players, and other very specific risks.
The London Market consists of several insurers, reinsurers, brokers, and other companies that are typically physically located in the City of London. Their business is usually written through specialist brokers. The London Market participates in personal and commercial lines, domestic and foreign. It also provides reinsurance.
For more information about any of our practice areas, please email the Communities Engagement Team
