By FCIAs Robert Berendsen and Catherine Sun Effective January 1, 2023, insurers that report on an International Financial Reporting Standards (IFRS) basis are required to apply IFRS 17 Insurance Contracts (IFRS 17). In adapting to IFRS 17, the Office of the Superintendent of Financial Institutions (OSFI) has revised the Life Insurance Capital Adequacy Test (LICAT) 2019 guideline and published...
The Canadian Institute of Actuaries (CIA) supports the federal government’s objective to ensure that all Canadians have access to affordable prescription drugs.
A seemingly inexorable trend of mortality improvement has emerged over the past century. Declining rates of population mortality in the developed western world have been variously attributed to several causes.
Earlier this year, the Canadian Institute of Actuaries (CIA) issued a statement on the growing interest in using big data in insurance ratemaking.
The latest buzz phrase in the insurance industry is “embedded insurance,” which presents an opportunity to seamlessly offer protection in real time given a proactive approach to risk management. Underpinning embedded insurance is the ability to personalize insurance. This requires that customers understand the necessity of sharing more data with their insurance providers.
Canadian Institute of Actuaries
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SeeingBeyondRisk@cia-ica.ca