Bringing together some of Australia’s leading thinkers, the ‘Get Involved, Get Ahead’ 2013 Actuaries Summit provides insights around new developments in critical risks affecting Australians, as well as areas where actuarial expertise offers unique insights such as insurance, superannuation and wealth management. These and other topics will be discussed and debated at the Actuaries Summit, on Monday 20 and Tuesday 21 May in Sydney.

Institute CEO Melinda Howes said longevity risk is one of the most prominent risks facing society and shared some insightful statistics to support this view.

“The average global life expectancy has doubled over the past 100 years and the chance of a person born now living to age 65 is about the same as the chance of a child born 100 years ago living to age one! Clearly we need to factor in what this demographic time bomb means in terms of products and resources not just for corporate Australia but for society as a whole,” said Ms Howes.

Beyond longevity risk, the Actuaries Institute is at the forefront of developments in corporate governance, risk culture, capital frameworks, strategic, operational, and enterprise risk management.

“Enterprise risk management is no longer seen as simply a compliance exercise, but rather a critical mechanism to deliver deep insight into the strategic drivers of risk in the business,” said Ms Howes.

Another threat for Australian businesses is strategic risk and governance issues. At the Summit, leading actuaries will share the latest thinking in whether current management incentives, corporate structure and the operating environment are in the best interest of long term value creation and sustainability of organisations.

“Getting ahead of risk and addressing these challenges head on is the key to Australia’s future success and should be at the heart of every business decision. This includes upside risk – for example longevity risk presents super funds and insurers with some great opportunities,” said Ms Howes.

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