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SEMINAR: 04 APR GABRIEL NATIVIDAD (UNIVERSITY OF PUIRA) 6.1.01

May 10, 2023
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Annual presentation of the Institute of Spanish Actuaries

Javier Olaechea, General Director of the Institute of Spanish Actuaries, made the Institute presentation as a professional association created in 1942 that helps the Public Administration in legislative projects, represents the profession (he explained what an actuary is from the point of view of a titled profession, regulated and collegiate), validates the titles and has a broad code of ethics that includes integrity, competence and diligence, regulatory compliance, objectivity, impartiality and communication.

In addition, he emphasized the scientific and professional nature of the Institute, which is positioned as the third most important in Europe (with some 1,700 members) and which is hosted by the Ministry of Economic Affairs and Digital Transformation. He paid special interest in explaining how actuaries collaborate free of charge and disinterestedly within the Center for Actuarial Research of Spain in different observatories (Data Science and Artificial Intelligence. System of Assessment of Damages and Harm Caused to People in Traffic Accidents (scale cars ) Sustainability and Climate Change Social security (this also includes Complementary Social Security) Actuarial Biometrics (mortality in Spain).

He also explained the fundamental pillars of the IAE such as continuous training, professional standards and deontology. In addition, he reviewed the roles within his field of work (insurance (life and non-life), pension plans and funds and car scale), also giving special importance to the educational and research field, also promoting this branch within the actuarial world. 

He referred to the CERA credential (Certified Enterprise Risk Actuary) as the only risk management credential worldwide that the Institute of Actuaries helps to achieve.

Finally, a question and answer session was opened in which the students were able to clarify doubts and expand information about the Institute.

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