Ben Rickayzen

Ben Rickayzen graduated with a first class honours degree in Mathematics from the University of Nottingham in 1984. He qualified as a Fellow of the Institute of Actuaries in 1990. From university, he joined the actuarial consultants, Bacon and Woodrow, and worked in their pensions consultancy until 1994 when he joined the Department of Actuarial Science at City University as a lecturer. He was promoted to Senior Lecturer in 2000, and to Professor of Actuarial Science in 2013. He has been Head of Faculty of Actuarial Science and Insurance since January 2008.

Qualifications

• PhD in Actuarial Science, City University London, London, United Kingdom, Dec 2007
• Fellow of Institute of Actuaries, Institute of Actuaries, United Kingdom, Jul 1990
• First class honours BSc in Mathematics, University of Nottingham, Nottingham, United Kingdom, Sep 1981 – Jul 1984

Employment

• External Examiner, University of East Anglia, Norwich, Sep 2015 – Aug 2019
• External Examiner, University of Leeds, Leeds, Sep 2015 – Aug 2019

Memberships of Professional Organisations

Fellow, Institute of Actuaries, Jul 1990 – present

Awards

• UK Actuarial Profession (2011) Invited to join Long Term Care Expert Panel
• Invited to join Long Term Care Expert Panel for the Profession.
• UK Actuarial Profession (2011) Made inaugural External Examiner for subject CT1
• Requested by the UK Actuarial Profession to become the inaugural External Examiner for subject CT1 being set by the Indian Institute of Actuaries.
• UK Actuarial Profession (2007) Invited to become a panelist
• Invited to become a panelist on the Profession's Accreditation Board.

Expertise

Primary Topics

• Actuarial Science
• Annuities
• Demography
• Insurance

Additional Topics

• Health Insurance
• Pensions

Industries/Professions

• health care
• insurance

Geographic Areas

Europe

Research

There are five main strands of research over the last few years to describe: Long term care, obesity, chronic diseases, information asymmetries in health insurance, investigating mortality rates in Sweden:

LONG TERM CARE

Since June 2013 I have been on a working party set up by the Institute and Faculty of Actuaries (IFoA) to discuss with the Department of Health the kinds of financial products which could be devised to cover long term care costs. We presented a seminar of our findings at Staple Inn, the base for the IFoA, in May 2014. We presented our follow up work at a Sessional Session on 18th April 2016. Such an invitation is highly prestigious within the Actuarial Profession, and the paper will subsequently be published in the British Actuarial Journal (which is the journal most widely read by practitioners).

I continue to work with David Smith and Zoltan Butt on updating the Rickayzen-Walsh LTC projection model. This could prove to be a powerful tool for projecting long term care demand,once the model has been calibrated to our satisfaction.

I have also been commissioned by The Worshipful Company of Actuaries, on behalf of a retirement village, to investigate whether the residents have unexpectedly high life expectancy. The work is being done with David Smith and Les Mayhew. The Sunday Times have already expressed great interest in publishing the results. It could also lead to an Impact Study for the next REF. We also plan to submit a paper to a suitable 3* or 4* journal.

Les Mayhew, David Smith and I received a KE and Impact Fund grant from the School for a project investigating different ways which people might pay for LTC. We anticipate that we will get good publicity for the work, and significant impact. Already, the International Longevity Centre, which is run by Baroness Greengross, have said they would like to host the launch event for the work. This will be in January 2017.

OBESITY

I published a paper in PlosOne looking at the years of life lost from being obese in 2014. I worked with an external strategy company to try to influence policymakers to try to generate an Impact Study for the next REF. This resulted in a senior adviser at NICE, Prof Mark Baker, suggesting that the waist-to-height ratio might become an official obesity measure when NICE draws up new guidelines in 2018. If this happens, then the School will have an excellent Impact Study for the next REF.

CHRONIC DISEASES

Currently involved in a project involving a huge dataset of anonymised patient records. The research focuses on the pathways of patients with chronic diseases.

INFORMATION ASYMMETRIES IN HEALTH INSURANCE

I have been working with Prof Karlsson and Dr Florian Klohn (both in Germany) on a project investigating whether adverse or advantageous selection takes place amongst policyholders who take out private health insurance. We are about to submit a paper to a 3* journal.

INVESTIGATING MORTALITY RATES IN SWEDEN IN EARLY 20TH CENTURY

I have been working with Prof Karlsson and Dr Sarah Okoampah on a project investigating the reasons why the mortality rates in Sweden had the shapes they had during the early 20th Century.

Research Topics

• Long term care financial products Research with IFoA Working Party into financial products which might be attractive for funding long term care
• An investigation into whether the mortality rates for residents of Whiteley Village are lower than for comparable groups living in the wider community within England and Wales. We are collecting the residents' data over the 100 years of Whiteley Village's existence and comparing the mortality rates with standard tables.
• Long term care funding Investigating how lifestyle impacts on decisions over optimum way to pay for long term care
• Further research into disability-linked annuities Extending the work described in Rickayzen (2007): Actuarial Research Paper no. 180
• Co-morbidity and financial implications of effective management of chronic diseases and their causes in the UK Using a dataset comprising over 4 million anonymised patient records, we are investigating various features such as the relationship between co-morbidity and the consumption of health care services (viz. doctor visits, hospital admissions, prescribing).
• Investigating mortality rates in Sweden in early 20th Century

Book

Booth, P., Chadburn, R., Haberman, S., James, D., Khorasanee, Z., Plumb, R. and Rickayzen, B. (2005). Modern actuarial theory and practice. Chapman & Hall/CRC Press, Boca Raton. ISBN 978-1-58488-368-5.

Chapter

Karlsson, M., Mayhew, L. and Rickayzen, B. (2008). In Sickness and in Health? Dynamics of Health, Cohabitation in United Kingdom. In Dawson, S. and Morris, Z.S. (Eds.), Future Public Health: Burdens, Challenges and Opportunities (pp. 155–174). Cambridge: Palgrave Macmillan

Journal Articles (17)

• Kenny, T., Barnfield, J., Daly, L., Dunn, A., Passey, D., Rickayzen, B. and Teow, A. (2017). The future of social care funding: who pays? British Actuarial Journal pp. 1–35. doi:10.1017/S135732171600012X.
• Ashwell, M., Mayhew, L., Richardson, J. and Rickayzen, B. (2014). Waist-to-height ratio is more predictive of years of life lost than body mass index. PLoS ONE, 9(9) . doi:10.1371/journal.pone.0103483.
• Mayhew, L. and Rickayzen, B. (2012). The ageing population: Crunch time for government reforms. Economic Affairs, 32(2), pp. 96–100. doi:10.1111/j.1468-0270.2012.02165.x.
• Mayhew, L. and Rickayzen, B. (2012). The ageing population: Crunch time for government reforms. Institute of Economic Affairs .
• Mayhew, L., Karlsson, M. and Rickayzen, B. (2010). The role of private finance in paying for long term care. Economic Journal, 120(548) . doi:10.1111/j.1468-0297.2010.02388.x.
• Mayhew, L., Karlsson, M. and Rickayzen, B. (2010). The Role of Private Finance in Paying for Long Term Care. Economic Journal, 120, pp. F478–F504.
• Karlsson, M., Mayhew, L. and Rickayzen, B. (2008). Individualised Life Tables: Investigating Dynamics of Health, Work and Cohabitation in the UK. Journal of Population Ageing, 1(2-4), pp. 153–191. doi:10.1007/s12062-009-9008-2.
• Karlsson, M., Mayhew, L. and Rickayzen, B. (2007). Long term care financing in four OECD countries: fiscal burden and distributive effects. Health Policy, 80(1), pp. 107–134. doi:10.1016/j.healthpol.2006.02.002.
• Karlsson, M., Mayhew, L. and Rickayzen, B. (2007). Long term care financing in four OECD countries: Fiscal burden and distributive effects. , 80(1), pp. 107–134.
• Karlsson, M., Mayhew, L. and Rickayzen, B. (2007). Long term care financing in 4 OECD countries: fiscal burden and distributive effects. Health Policy, 80, pp. 107–134.
• Karlsson, M., Mayhew, L., Plumb, R. and Rickayzen, B. (2006). Future costs for long-term care: cost projections for long-term care for older people in the United Kingdom. Health Policy, 75(2), pp. 187–213. doi:10.1016/j.healthpol.2005.03.006.
• Karlsson, M., Mayhew, L., Plumb, R. and Rickayzen, B. (2006). Future costs for long-term care: Cost projections for long-term care for older people in the United Kingdom. , 75(2), pp. 187–213.
• Haberman, S., Butt, Z. and Rickayzen, B. (2004). Measuring Process Risk in Income Protection Insurance. ASTIN Bulletin, 34(01), pp. 199–227. doi:10.1017/S0515036100013957.
• Rickayzen, B.D. and Walsh, D.E.P. (2002). A Multi-State Model of Disability for the United Kingdom: Implications for Future Need for Long-Term Care for the Elderly. British Actuarial Journal, 8(02), pp. 341–393. doi:10.1017/S1357321700003755.
• Rickayzen, B.D. (2001). A sensitivity analysis of the paprameters used in a PHI multiple state model. Journal of Actuarial Practice, 9, pp. 189–212.
• Haberman, S., Butt, Z. and Rickayzen, B. (2000). Multiple State models, Simulation and Insurer Insolvency. Giornale dell' Istituto Italiano degli Attuari, XLIII, pp. 83–109.
• Rickayzen, B., Mayhew, L.M. and Smith, D.A. Flexible and affordable methods of paying for long-term
• care insurance. North American Actuarial Journal .

Course Directorship

• 2008 - present, Faculty of Actuarial Science & Insurance, Head of Department
• 2006 - 2008, MSc Actuarial Management, Director
• 1994 - 2001, BSc Actuarial Science, Admissions Tutor

Subject/Academic Leadership

Service to University:

Carried out the following as a Senate-approved panel member:

• Academic Misconduct Panel for various students in other Schools (2015/16)

• Appeals by various staff in other Schools against not being promoted (2014/15)

• Student Appeal at University level (2012)

External School member of interview panels for lectureships in Optometry: April and September 2015

Member of the University Learning Spaces Committee, with the remit of improving the use of teaching space across the University. Eg, I was instrumental in significantly improving Room AG22.

Member of the Academic Excellence Working Party in 2013/14, which helped draft the details of the "Education" route for the University

Chaired the following Periodic Programme Review panels:

• MA in Academic Practice (May 2012)

• Sociology's five MA degrees within the field of Media and Communications (April 2008)

Contributed to the MA in Academic Practice over a number of years by leading a seminar on Personal Tutoring to the new members of staff

Chaired the Stage 2 Approval for MSc in Project Management, Finance and Risk (May 2009)

Panel member for Periodic Programme Review of Radiography (April 2007)

Service to Cass:-

Head of Faculty of Actuarial Science and Insurance since Jan 2008

Associate Dean for Teaching & Learning (Acting) from January 2010 to August 2011

Teaching Champion/Advisor for Faculty from 2006/7 to present

Deputy Chair of Teaching & Learning Committee in 2010/11 and 2011/12 (- chaired meetings when Chair could not be present)

Chaired sub-group dealing with successful implementation of 3-week turnaround time of coursework marking in 2010/11

Executive Committee member of The Actuarial Network at Cass (TANC) since 2008 and gained IFoA sponsorship for TANC events from 2014. This significantly raised attendance at events, thereby strengthening collaboration between students, alumni and the industry.

Panel member for several School Academic Misconduct hearings

Member of following Cass committees:

School Executive Committee

School Knowledge Group

Board of Studies

Research Committee

Teaching, Learning and Student Support

Please note that the following information on "Contribution to designing a programme" is added here because the "Where initiative was taken" section would not print:

Where Initiative was taken:

Heavily involved in redesign of MSc's in Actuarial Science and Actuarial Management to introduce 25% element of online teaching material with effect from September 2008.

In 2011, I introduced the SmartWisdom system of note taking to the MSc Actuarial Management students. This has proved to be so successful that it has subsequently been offered also to MSc Actuarial Science, IRM and BSc Business Studies students, as well as to staff.

In 2012, I arranged for St Giles International to provide English Language support to MSc students needing it. The pilot was so successful that it has continued to run since then.

In 2013, I introduced an actuarial "real life problems" system to MSc Actuarial Science students which had been devised by the company T2S. This is designed to give students an insight into work that actuaries do, which should increase the students' chances of getting a job. This has proved to be so successful that we have rolled it out to both actuarial MSc's and to Part 2 BSc Act Sci students since 2014/15.

In 2015/16, at my instigation, we introduced a Management, Strategy and Marketing module into the MSc Actuarial Management course. This was to ensure that the students obtained a wider view of management issues than just those related to actuarial work. This has proved to be a popular initiative with the students.

Editorial Activities (5)

• Risk, Referee, 2015 – present.
• Applied Economic Perspectives & Policy, Referee, 2011 – present.
• Annals of Actuarial Science, Referee, 2009 – present.
• ASTIN Bulletin, Referee, 2005 – present.
• British Actuarial Journal, Associate Editor, 2001 – 2008.