Since its establishment in 1998, the Brian Hey Prize has celebrated actuarial research that drives practical innovation in general insurance.
Named in honour of George Brian Hey, whose remarkable career saw him qualify as a Fellow at the age of 51 after a lifetime of varied achievements, the prize reflects his curiosity, ingenuity, and dedication to advancing the profession. Brian Hey’s work – from pioneering statistical studies in motor insurance to developing dynamic solvency analysis – has left a lasting mark on actuarial practice.
Each year, the prize recognises papers that bring fresh insights, practical methodologies, or novel approaches to enduring challenges in insurance. Last year’s winning paper, ‘Interpretable Boosted GLM’, authored by Karol Gawlowski and Yafei (Patricia) Wang FIA C.Act (pictured above), impressed the committee with an innovative approach that enhances traditional GLMs while preserving interpretability.
Patricia Wang reflected: “It is an honour to win the Brian Hey Prize. I hope our Interpretable Boosted Linear Model contributes towards the advancement of machine learning adoption within the actuarial profession.”
Two highly commended papers also stood out for their relevance and rigour. The ‘Periodical Payment Orders Working Party – 2024 Industry Survey’ provided critical insights into PPOs, demonstrating the impact of collaborative research over 15 years.
Chris Francis noted: “It is great to see the collective work recognised and appreciated; the quality has been built up over many years by past and present members.”
Meanwhile, Timothy J Harrison FFA CERA explored modelling dependencies between internal and external models using vine copulas, offering a method to navigate the increasingly complex interdependencies in modern risk modelling.
Reflecting on the experience, he shared: “Submitting a paper for the Brian Hey prize was a genuinely fun and rewarding experience. Especially for anyone without much background in formal research, it provides a practical way to get started publishing your ideas. The feedback I got from the process was incredibly encouraging, and it inspired me to return to university as a part-time student, to continue my postgraduate studies.”
This year, the Brian Hey Prize opens once again, offering authors a £500 prize, publication in the British Actuarial Journal, and the opportunity to present their work at a sessional meeting. The prize is open to actuaries, data scientists, and students, encouraging contributions that combine innovation, practicality, and impact.
For those seeking inspiration, recordings of recent sessionals – including the 2025 winner’s in-person presentation on interpretable GLMs and the highly commended online sessional on vine copulas – are available on the VLE. They provide a tangible example of how research can translate into real-world actuarial practice, sparking ideas for new submissions.
Whether you are exploring new modelling approaches, applying analytics to emerging risks, or sharing insights from professional practice, the Brian Hey Prize is an opportunity to contribute to the profession, gain recognition, and advance your work within the actuarial community.
Submissions for the Brian Hey Prize 2026 are now open until 31 August 2026. Full details, including guidance and resources, are available on the Brian Hey Prize webpage.
