In November 2003, the International Actuarial Association (IAA) created a special program called Actuaries Without Borders (AWB) with a mission to provide temporary actuarial services and actuarial education for geographical areas that clearly lack the resources and infrastructure needed to build their own actuarial industry.
The AWB is consisted of volunteers that assist in areas such as the development and management of social security, enterprise risk management, pensions, life and non-life insurance, investment and health care. The AWB also encourages their voluntary members to participate in teaching and coaching projects that are aimed for specific target countries that are severely lacking in actuarial resources, irrespective of their geographical boundaries (hence the name, Actuaries without Borders). In doing so, these volunteers not only help facilitate a better standard of financial assistance in these areas, but they also contribute to building a better understanding and awareness of the actuarial profession, which is vital for those areas in generating a more complex society to better protect the assets and lives of their citizens.
The recipients of the AWB services are mostly public entities, governmental organisations and social organisations, including NGO’s, that seek expert actuarial advice. These recipients form part of AWB’s stakeholders, with other stakeholders being the wider actuarial profession in general and the donors (funding organisations) of the AWB volunteer service.
The AWB has a clear mission to pursue and adhere to several strategies to increase the impact of their projects. These are:
- To promote their mission to governments around the world and relevant NGO’s in their target countries
- To identify and source volunteer actuaries that are qualified to deliver the relevant skillsets lacking in the target geographical areas
- To match the demand for actuarial services with available actuaries
- To organise to provide the necessary actuarial services to needy areas and provide a reporting mechanism to include all stakeholders of the project
- To seek appropriate sources of funding willing to support their volunteers and projects
You can become an AWB volunteer member through their volunteer database without needing any prerequisite experience, language, education or specialisation skillsets to register. You must first be an Ordinary or Observer member to become a volunteer.
There are three classes of members:
- Ordinary Members – individual members of IAA member associations (the Actuaries Institute in Australia is an IAA member association} who are qualified actuaries according to the IAA standards (Associates or Fellows of the Actuaries Institute). If you are interested in becoming an Ordinary Member, you may submit your application directly to the IAA Secretariat or to your respective member association
- Observer Members – you will be actuarial students, non-IAA member association members or someone from a non-actuarial background (provided you are interested in joining any activities of the AWB). If you are interested in becoming an Observer Member, submit your application to the AWB Board.
- Donor Members – you will be an individual, association, organisation or company that will financially support the AWB activities per the discretionary determinations of the AWB Board. To become a donor member, submit your application to the AWB Board.
If the mission of Actuaries Without Borders resonates with you and you would like to become a member of this great organisation, click here -
You can also follow their LinkedIn https://www.linkedin.com/company/international-actuarial-association/ for any further updates and information about their projects and upcoming events you may like to participate in.