A Conversation with Bozenna Hinton: Charting the Future of the IAA

By Expanding Horizons Editors

Expanding Horizons, June 2025

We are delighted to present this interview with Bozenna Hinton, the newly elected president of the International Actuarial Association (IAA). In this wide-ranging conversation, President Hinton shares her vision for the IAA, discusses emerging trends in actuarial education and offers insights on how the Society of Actuaries (SOA) and its members can contribute to the global actuarial community.

The International Actuarial Association serves as the global voice of the actuarial profession, representing over 75,000 actuaries across more than 115 countries. As the world faces unprecedented challenges in areas ranging from climate change to artificial intelligence, the IAA’s role in coordinating global actuarial responses becomes increasingly vital.

Expanding Horizons (EH): First of all, congratulations on stepping into your new role as IAA President! How are you feeling about this new chapter, and could you share a bit more about your background?

Bozenna Hinton (BH): Thank you! I am honored and excited to be taking on the role of IAA president. I never thought I would have the opportunity to be in this position. My background has mainly been in life insurance, in a variety of consulting, reinsurance and direct office roles. I have been volunteering with the Australian Institute for many years, which led me to become Australian Institute president in 2010. Part of my presidential duties included representing Australia at IAA meetings. I soon became aware of the great work that the IAA does and started volunteering for IAA committees, representing Australia. I initially joined the Pensions, the Social Security and the Membership committees, as they did not have Australians on them at the time. Later I joined the Professionalism and Education committees, eventually becoming chair of the Education Committee. I also served on the Nominations and Strategic Planning committees and became the Australian Council delegate.

EH: Looking back over the past 10 years and beyond, what do you consider the most significant achievements that all IAA members would remember?

BH: A key change for the IAA has been the establishment of its current mission focused on (1) Impact, (2) Advance and (3) Assure, and the associated recent restructuring of the IAA. These three pillars are easy to remember and central to all we do.

• Impact points to the IAA’s global voice in promoting actuarial expertise and developing relationships with key supranational institutions to inform and influence stakeholders.
• Assure acknowledges the IAA’s role in supporting the profession worldwide by establishing education standards, promoting professionalism, modeling actuarial standards of practice and supporting emerging actuarial communities.
• Advance focuses on furthering scientific knowledge and skills development through the work and research of members across committees, forums and sections.

The IAA has made good progress in all three areas in recent years, and I’m looking forward to continuing this mission during my presidential year.

EH: The IAA focuses on global impact in risk and financial security. Which parts of its mission do you think are most urgent right now, given the challenges we’re facing around the world, and what main goals would you like to accomplish during your term?

BH: The world is facing many areas of change, with high-profile ones being (1) climate and sustainability challenges, and (2) the advent of artificial intelligence (AI). There is the potential for these areas to impact every part of our lives. Actuaries have the opportunity to play a key role by helping people understand the long-term financial consequences of decisions we make today. They are also able to explain some of the resulting ethical considerations of using large data sets, including potential biases in the data, and challenges in data interpretation.

A key thing I’d like to do is increase the voice the IAA has globally, including strengthening our voice with supranational bodies where we have the most alignment. I’d also like to see us speak out more as the IAA, which can help raise the profile of all actuaries.

EH: Looking at the current state of actuarial education and research around the world, what significant changes or trends do you see emerging? Are there any particular shifts that you think warrant special attention or might reshape how we educate and train actuaries?

BH: Many are currently looking at the impact of AI on education. This can include making sure that actuaries have the skills not only to be at the forefront of developing and using new technologies, but also to understand and communicate the risks and ethical considerations that these technologies can bring.

The key thing is to be nimble and be able to adjust to a rapidly evolving landscape shaped by AI. Actuaries are trained in how to approach complex problems and how to analyze and explain risks. These skills will be the most important and help us thrive as the world changes around us. We will always need to know what questions to ask and how to understand and evaluate the answers. We will always need to think about the risks, including tail risks, that others might not consider and how we can mitigate and explain these risks.

The areas where we apply our skills may change; for example, there is the opportunity for actuaries to advise on the new IFRS S1 and S2 climate reporting standards. However, the fundamental approach to thinking, which makes us actuaries, remains the same.

EH: As of February 2025, the SOA lists 340 universities across 30 countries. Considering that some countries or regions may not yet have a well-established insurance or actuarial industry—and recognizing that many professors, especially those who are retired or on sabbatical, might be interested in volunteering to teach or mentor in these areas—do you believe the IAA can play a significant role in facilitating such volunteer efforts? Have there been any notable experiences or initiatives in this regard? Additionally, do you have any suggestions or words of encouragement for actuarial professors or academic institutions that might consider supporting these emerging regions?

BH: One area the IAA has been involved in is supporting the Access to Insurance Initiative that has been run by the International Association of Insurance Supervisors (IAIS). This group helps train regulators in countries where the insurance industry is still developing. Sometimes the IAA looks for volunteers to step forward to assist in running sections of these training courses.

The IAA is mindful of not competing with its own member associations that could be running their own commercial courses. Instead, the IAA has a Membership Assistance Committee, with regional subcommittees, that looks to tailor assistance to various associations or regions. The needs of each country vary considerably, and there is significant work involved in understanding specific needs. The Society of Actuaries could encourage more volunteers to join these subcommittees to understand and ultimately address local needs. It is great that so many people in the world want to help and support others. By continuing to do this, we can all work together to make the world a better place.

EH: In your recent remarks, you commended volunteers and member associations, stressing that the IAA’s success depends on their collaboration. With that in mind, is there anything specific you’d like to encourage from our SOA Education & Research Section members? What do you see as their role in advancing the IAA’s mission?

BH: Education & Research Section members may choose to focus on new horizons and to share their learnings with others. By pushing the boundaries of actuarial science, we can all achieve more. Members can join the IAA forums or sections in an area that interests them. We have groups including Data and Analytics, Mortality, Life insurance, Health Insurance, General Insurance, Banking, Social Security and Finance, Investments and Enterprise Risk Management (ERM). The more we share ideas and thinking, the more we will achieve together. This is central to the Advance part of the IAA’s mission, where we seek to expand the boundaries of actuarial knowledge and research.

EH: You mentioned the IAA could speak up more on various global issues. Which topics do you think actuaries should be weighing in on the most, and how can the IAA help lead—or spark—those conversations?

BH: One of the areas where the IAA can have influence is with supranational bodies. As a first step, we can understand key issues supranational bodies, such as the IAIS and the Organisation for Economic Co-operation and Development (OECD), are facing. We can study their strategic plans and work with them in areas where actuaries can contribute expertise and knowledge.

We know that many bodies are grappling with how AI is, or could be, influencing how they operate. There may be opportunities for actuaries to assist with modeling or to help with scenarios or ethical considerations that come with the use of AI.

Cyber risk is another area of interest to many. Again, actuaries are well placed to measure this risk, propose scenarios and discuss risk mitigation.

Climate and sustainability changes are impacting us more and more. Companies want to demonstrate responsible behavior. Actuaries can help measure the impact of measures taken, including second- and third-order effects.

Many countries are facing the challenges of aging populations and declining birth rates. Actuaries are well placed to advise on the long-term funding of social security and pension schemes and assist with the implications of changing workforce demographics.

EH: The IAA puts a big emphasis on diversity and inclusion. From your perspective, what practical steps can a global organization take to genuinely support those values, and what challenges might we face in doing so?

BH: A benefit of diversity and inclusion is embracing more and wider viewpoints. This can make the conversation more robust and can lead to better outcomes for all. It is also more fun to have a variety of viewpoints and approaches.

Practical steps we can take are to measure and report on diversity and inclusion. The IAA Council receives a report on the diversity of volunteers at least once every six months and is actively engaged with member associations on ways to improve IAA diversity. We can actively seek to have a diverse group of volunteers throughout organizations we are part of. The IAA recently has incorporated real-time translation tools in its meetings, to assist non-native English speakers in participating more easily. New translation tools also make it easier to share information in multiple languages.

One of the diversity challenges we face in the IAA is that we rely on our member associations to nominate volunteers, so we are reliant on our members nominating a diverse range of people for the IAA to select from.

EH: Finally, what’s your broader vision for the future of the IAA? How do you see organizations like the SOA collaborating with the IAA to bring that vision to life? Any closing thoughts you’d like to share with our readers?

BH: To me, success is a thriving international actuarial community where member associations see value in belonging and the IAA has a clear voice in areas where actuaries can add value.

Increased global awareness of the profession will make outreach easier and encourages engagement. With increased engagement, members will be more likely to volunteer, creating a virtuous circle of growth and impact.

Success could look like:

• International outreach continuing, with the IAA’s views sought on relevant, global issues
• Volunteer interactions occurring across a wide range of areas, with high numbers of associations involved
• Member associations seeing value in the IAA, with stability or growth in IAA membership numbers
• Member associations proudly referencing their IAA membership on their websites

An important part of this is the impact the IAA can make on the world stage:

• The IAA can be the voice of the actuarial profession globally.
• The IAA, as a supranational body, can speak as an equal with other supranational organizations.
• The IAA’s leading voice elevates the entire actuarial profession and promotes all member associations.

The SOA has significant opportunities as part of the IAA:

1. Stay informed

• Stay abreast of international developments to keep SOA members up-to-date.
• Gain insight into global actuarial thinking and discussions.
• Understand non-US perspectives on important issues.

2. Enable relationships with supranational bodies

• Benefit from the IAA’s established relationships with supranational organizations.
• Influence the IAA to have the SOA’s voice heard at these forums.
• Stay informed about significant initiatives within these organizations.

3. Enhance professional impact

• Join scientific and technical committees to advance knowledge and influence direction.
• Contribute to education, professionalism and standards committees by joining “assure” committees.
• Elevate the SOA’s global reputation through IAA membership recognized by actuarial associations worldwide.
• Connect with global leaders through networking opportunities at meetings and events.

It is also worth saying that, like everything, what you can get out of the IAA is related to what you put in. I have found that I have been able to learn a lot by listening to others and hearing other ways of doing things or approaching problems that I had not previously considered.

I look forward to the SOA continuing to be an active and valued member of the IAA.

Statements of fact and opinions expressed herein are those of the individual authors and are not necessarily those of the Society of Actuaries, the editors, or the respective authors’ employers.

---

Bozenna Hinton is the president of the International Actuarial Association. Bozenna can be reached at bozenna.hinton@gmail.com.