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pwc

pwc. A bit about me Actuaries in g eneral i nsurance Accident compensation & links to social policy The health industry & health insurance Social welfare The future. Contents. University of Sydney PTOW Disability research (etc) John Ford & Associates

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pwc

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  1. pwc

  2. A bit about me Actuaries in general insurance Accident compensation & links to social policy The health industry & health insurance Social welfare The future Contents

  3. University of Sydney PTOW Disability research (etc) John Ford & Associates Coopers & Lybrand/PricewaterhouseCoopers A bit about Me

  4. Started in mid-late 70’s Dr. Greg Taylor & colleagues Technical analysis of payment & cost development Outstanding claims provisions Extended to premium rating & relativities Actuaries in General Insurance

  5. GI led to accident compensation analysis in mid-late 80’s Analysis extended to benefit analysis & scheme design This led to actuarial involvement in scheme policy Part of scheme policy includes links with social welfare, health industry & disability program planning Accident Compensation & links to Social Policy

  6. Intensity of Aged Care Health Utilisation 300 Male 250 200 Female 150 Index Medical & HospitalUsage 100 50 0 0-4 10-14 20-24 35-44 55-64 75-84 Age group

  7. Population Distribution - Australia 350,000 300,000 250,000 Population by Age 200,000 150,000 100,000 50,000 0 1 11 21 31 41 51 61 71 81 Age 1971 pop 2000 pop

  8. Projection of people with a severe and profound core activity restriction - Australia 1,600 30,000 1,400 25,000 1,200 20,000 1,000 800 15,000 600 10,000 400 5,000 200 0 0 1981 1991 2001 2011 2021 2031 2041 Persons w. profound/severe core activity restriction (65+) Total population

  9. Brent Walker led the way Limited involvement by actuaries due to the nature of funding Main actuarial involvement in development of outstanding claims provisions & reinsurance Crisis in health insurance in the 1990’s led to funding & policy reform Actuarial involvement increasing steadily – Health insurance – pricing, reserving, solvency & capital adequacy, casemix, risk profiling, experience monitoring Health industry – funding, provider contracting, capitation analysis Aged Care – links to disability, policy development, funding. The Health Industry & Health Insurance

  10. There is potential for actuarial contribution to the following areas of social welfare: -Disability support pension, unemployment benefits, aged pension Demand & management Risk profiling Claims streaming Policy development Funding projections These areas are over & above the retirement income planning of the Institute’s superannuation & life insurance experts. Social Welfare

  11. Lots more work in the health industry Higher level involvement in accident compensation policy & links with social welfare More sophisticated analytical value – data mining (regression trees, neural networks), generalised linear modelling More work with professionals other than actuarial – e.g. medical, OH&S, disability management, claims management The Future

  12. Pwc

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