Future thinking for actuaries

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During four sessions 16-23 March 2021, a group of leading economists and actuaries gathered—virtually—to discuss the public interest purposes and shortcomings of finance.  The following article, by Lucy Saye, is the second of the series providing the opening remarks by four panellists on 18 March.
 
In this paper, Lucy Saye reflects on our collective failure to consider the natural ecosystem when measuring economic performance and the harmful implications of equating value with price. Lucy goes on to highlight the importance of fairness and its connection with the Paris Agreement and the 17 Sustainable Development Goals. 
 
Actuaries need to demand more of themselves. Not only do actuaries need to recognise different economic schools of thought, but they should also ask what insights they can get from anthropology, history, ecology and systems thinking? Lucy guides us through the questions that actuaries (and other financial professionals) can ask themselves – and how to reset our future thinking to realign our path. It is actuaries’ duty to recognise, and respond to, the manifest truth that social and environmental outcomes are not separate from economic outcomes.

FutureThinking-Saye