Third Party Working Party – members

The Institute and Faculty of Actuaries' (IFoA’s) Third Party Working Party investigate emerging claim trends in third-party motor insurance.

Objectives:

• work in conjunction with the Periodical Payment Orders (PPO) Working Party to ensure that key messages of interest to the industry, consumers, the press, or government bodies are appropriately aired
• collect additional data from within the UK market or from other sources as the working party sees fit
• maintain appropriate standards with respect to competition law – in particular, no individual company actuary will see any data other than aggregate market data and there will be no discussion around pricing related matters
• all data processing is being hosted and anonymized by Willis Towers Watson.

For full details and recent press releases, see Third Party Working Party.

Membership of the working party

The working party aims to include a representative from each organisation that handles UK-based General Insurance (GI) third-party data. While this is an individual volunteer appointment, the individual volunteers appointed to this working party are appointed to represent their organisation.

Time commitment and participation

The time commitment is approximately one day per month, made up of attendance at a monthly meeting by conference call lasting approximately one and a half hours, with follow-up research and actions between meetings.

How to get involved

If you work for an organisation that handles UK-based third party data and your organisation is not currently represented in this group, we would like to hear from you. Please contact the Engagement Team at engagement.team@actuaries.org.uk. When contacting us please provide the following information:

• your name and the name of your organisation
• brief details of the type of UK based third party data your company handles
• your reasons for wishing to get involved
• what you feel you could bring to this working party
• your ARN, if you are a member of the IFoA
• if you are non-members who meet the above criteria, full contact details including postal address, email and a phone number
• confirmation that you have read, understood and agree to the information and requirements laid out in our Volunteer Information Pack (VIP). Please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer

All expressions of interest will be considered by the Chair of the working party.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s Governance Manual and Volunteer Information Pack (VIP). Before offering to provide support, please read through ‘what you need to know’. 

Practice areas

The practice area that relates to this vacancy is general insurance. To learn more, see practice areas.

Categories