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CategoryOpinions

Finding the balance: Personalization of risk and risk pooling

Blake Hill, FCIA, member of the CIA Single Topic Task Force on Risk Classification

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.

Actuarial evidence with a twist

About 10 years ago I received a call from a lawyer looking for help in determining the expected number of members in a class action. It was a historical action dating back to the 1940s. My mandate was to determine the number of Indigenous children who attended one of several schools from the 1940s to the 1990s. That number, then, was to be split between surviving and deceased students as of 2010...

Survey of Emerging Risks – Risk Combinations

When risk managers are thinking about risks, cognitive biases that focus on recent risks often come into play. Train yourself to think with a longer time horizon, strategically, and in a way that allows risks to interact in combination with one other. The companies that encourage this are more likely to survive and make better decisions that allow them to thrive.

There are NOT two kinds of pension plans

Introductory presentations on pension plans often begin with an explanation that there are two kinds of pension plans: defined contribution and defined benefit. The problem with this starting point is that none of it is true.

Building high-trust relationships in a hybrid reality

Strong communication and healthy cultures are built on transparency and trust. Having productive disagreements and conflict is important for breakthroughs. It takes thoughtfulness, courage, and planning. If trust is built, those difficult conversations will become easier because people know you care. It will transform conflict into collaboration and your relationships will be better for it.

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Canadian Institute of Actuaries
360 Albert Street, Suite 1740
Ottawa, Ontario K1R 7X7
SeeingBeyondRisk@cia-ica.ca