Our UK Life Consulting and Technology team were in full attendance at this year’s Institute and Faculty of Actuaries (IFoA) Life Conference.

Held in Birmingham, UK, on 22-24 November, the team featured in a number of workshop and plenary sessions across the event. First up was Matthew Edwards, who as a member of the Antibiotic Resistance Working Party, co-presented the party’s preliminary findings on the likely impact of antibiotic resistance.

Kamran Foroughi, our UK Life Financial & Regulatory Group Lead and member of the IFoA’s Financial Reporting Group, joined a speaker panel to discuss the conference’s hot topic – IFRS 17. The session provided a summary of the IFRS 17 requirements, plus its potential financial, operational and wider implications.

Willis Towers Watson’s Kamran Foroughi speaking at the IFoA Life Conference 2017
Willis Towers Watson’s Kamran Foroughi speaking at the IFoA Life Conference 2017

The standard was also covered by David Pond who looked at the specific modelling implications of IFRS 17 along with Ben Thomas from Just. The pair discussed the methodology differences between IFRS17 and Solvency II and considered how modelling systems will need to be adapted relative to current setups. (Watch our Bite-size IFRS 17 videos and read our ‘Avoid a reporting crisis’ blog series for further IFRS 17 insights).

With-profits transformation was the topic of our last speaker, Trevor Fannin, who along with Brian Murray from Royal London, explained why more and more companies are looking to a more radical transformation of their with-profits funds and products; and the impact on various stakeholders.

Videos of each presentation will be available through the IFoA website.

Away from the speaker sessions, we entertained delegates visiting our exhibitor stand with digital caricature portraits. Winners of the associated social media competition have already been contacted – thank you to all those that took part.

Delegate at IFoA has his portrait drawn by Luisa Calvo at Willis Towers Watson's stand at the IFoA Life Conference 2017 
Delegate at IFoA has his portrait drawn by Luisa Calvo at Willis Towers Watson's stand at the IFoA Life Conference 2017