Board Committee for the Coordination of Actuarial Work
The DAV’s actuarial work forms the basis for providing technical support to members in their day-to-day professional activities and ensures the high quality of actuarial work through professional principles. It also forms the foundation for positioning the DAV as an expert organisation in the eyes of policymakers and the public. Against this background, the Board Committee for the Coordination of Actuarial Work aims to coordinate the association’s professional matters across the board in order to drive forward the management of the DAV’s central professional tasks and to identify future issues for the profession at an early stage.
The Board Committee for the Coordination of Actuarial Work thus advises the DAV Executive Board on all matters relating to the overarching management of the DAV’s professional issues, with a view to the DAV’s holistic external positioning as an expert organisation in the public eye. Specifically, the Board Committee identifies, explores and prioritises cross-cutting topics within professional work, as well as emerging areas of responsibility and their implications for the actuarial profession and the role of actuaries, and coordinates their handling within various Board working groups.
These Board working groups are set up on a temporary basis for a maximum period of three years, during which a decision must be made as to whether it is appropriate to expand the existing committee structure or incorporate the issue into an existing committee for further consideration, or whether the matter has been dealt with conclusively and concluded with a publication.
Pension provision through life insurance and occupational pension schemes, as well as health insurance, are characterised by the need to meet long-term obligations; trends in life expectancy play a key role in this regard. The working group on the Impact of Medical Progress therefore engages in intensive interdisciplinary dialogue on key research developments in the field of (bio)medicine, with the aim of describing possible scenarios based on the findings and deriving decision-making aids for actuarial work.
The working group is publishing its initial findings via the DENK LAUT podcast and articles in the DAV Journal. Further publications are in preparation.
Current Episode 3: Herz-Kreislauf-Erkrankungen (Cardiovascular diseases)
The DAV Board wishes to strengthen its focus on sustainability and has established a cross-committee working group. The Board’s Sustainability Working Group reports directly to the Board and complements the existing committees’ working groups with a focus on sustainability. The goal is to better coordinate the handling of ESG (Environmental, Social, Governance) issues, actively drive forward unresolved questions, strengthen internal and external communication on sustainability, and advise the Board.
Key topics of the Working Group:
- Developing technical foundations for the adequate modeling of ESG risks;
- impacts on insurance business models;
- potential contribution of insurance companies to the sustainability transition (climate change mitigation and adaptation).
Actuaries in insurance technology are those who work at the interface between specialist departments and IT. They are involved in the design and software implementation of algorithms in the IT systems of insurance companies or occupational pension schemes, which are used to calculate the actuarial values of insurance contracts. The results affect the contractual relationship with end customers or the accounting. A large number of actuaries work precisely at this interface.
Topic 1: Actuarial Modeling
Insurers are increasingly using complex IT systems to manage and model products, but often reach their limits when modern and multifaceted tariffs cannot be fully or efficiently represented technically. This leads to high costs, hinders innovation, and makes the long-term maintenance of life insurance contracts particularly challenging. A model-based approach with reusable, clearly structured components can remedy this, but requires careful expert review and close collaboration between actuaries and other disciplines.
Topic Area 2: Testing and Quality Assurance
The working group aims to provide actuaries with a better understanding of actuarial testing and to demonstrate concrete approaches to quality assurance. Due to complex models, numerous interfaces, and regulatory requirements, testing in insurance technology is particularly demanding and comprises several coordinated test phases. Key topics include structured test concepts, sufficient test coverage, automation, and efficient handling of deviations and tolerances.
Topic Area 3: Support with Specific Individual Topics
The working group supports actuaries in analyzing and implementing legal changes, court rulings, and market developments in insurance technology. It provides structured assistance that includes technical classifications, regulatory requirements, and impacts on IT systems, products, and processes. The goal is to identify challenges early, facilitate implementation, and reduce operational risks through a sound overview.
Topic Area 4: Communication and Professional Image
Actuaries in insurance technology work at the interface between specialist departments and IT, where specialist decisions have a significant impact on the complexity and costs of technical implementation. It is often underestimated how much even small specialist changes affect the implementation effort. The working group therefore aims to promote mutual understanding and support actuaries in conveying technical complexity and communicating effectively with their target audience.
The DAV aims to publish an annual report on the current state of old-age provision in Germany. In doing so, it seeks to provide policymakers with an independent, fact-based, and actuarially sound analysis of key developments and challenges.
The report is intended to compile and analyze relevant data from various sources and present it in an accessible manner. At the same time, it aims to engage in targeted, high-impact communication with policymakers and the press. In this way, the DAV seeks to be perceived as a competent and reliable partner on issues related to retirement security and to establish itself as an expert in socio-political debates.
With this in mind, we aim to assemble a working group with a broad range of professional and institutional backgrounds in order to incorporate diverse perspectives and experiences into the preparation of the report.
