International prize for actuarial paper on healthcare costs

A paper on healthcare costs in the final year of life, authored by senior lecturer (actuarial science) Shivani Ramjee and research assistant Matan Abrahams, has won a 'best in category' prize at the 2014 International Congress of Actuaries (ICA) in Washington.

The paper was one of two South African actuarial studies singled out for awards among the 225 actuarial papers and presentations delivered at the congress. Of these, only 16 papers received awards.

The paper highlighted key methodological considerations in an investigation into the costs incurred by health insurers from the provision of benefits during the 12 months preceding a beneficiary's death.

Ramjee said: "It was wonderful to have the work acknowledged internationally. It's an area of research that we are continuing to work in so it important that we get the feedback that the work is valued by the actuarial community."

Niel Fourie, public policy actuary at the Actuarial Society of South Africa, said the accolades showed that South African actuarial skills are rated highly by the rest of the world.

"Our presenters and papers were of exceptional quality, which made me proud to be a South African actuary."

The second winning paper, written by members of the Actuarial Society's Social Security Member Forum, explored sustainable social security benefits.

Story by Helen Swingler. Image by Michael Hammond.