Horizon2035 (H35) is a long-term scanning process designed to prepare the Institute and the profession for the change and opportunities of the future.
A proven approach
H35 follows Vision2020, a similar planning exercise conducted in 2006 that also mapped out a 15-year view on the future of the profession. The extensive consultation process included members , key external stakeholder groups and our accredited Universities.
The essence of the report
Completed against the backdrop of COVID-19, the key mega-trends identified include the continuing revolution in technology and data, the ongoing battle to slow climate change and shifting geopolitics.
Challenges to the profession include a series of interconnected trends which might affect employment– industry consolidation, offshoring, a smaller pipeline of young actuaries and competition from other professional bodies.
A key question was how the profession will deal with the opportunities and challenges in data science. The report highlights that actuaries’ long-honed skills and training in the art and science of gathering and analysing data are a good fit for this mega-industry. Perhaps most importantly, actuaries’ professional training and support gives us an ethical focus, skills in the practical application of data insights and an ability to see the bigger picture. All indicating to strong contributions for the data revolution.
Members shared a similar perspective on the opportunity to broaden roles and expand the businesses, industries, fields and innovation areas where actuaries work, lead and advise.