- Issue Notes from the Editor
by Bill Ely - From the Chairperson–And the Survey Said ...
by Larry Stern - The World of Social Media and Risk Management
by J. Eddie Smith - Successfully Build Your Business Network with
"E–Blasts"
by Aurélie Hiernaux - Exit Planning for Actuarial Consultants: The Sooner You Begin, the Better!
by Michael Oleksak - A Compensation Overhaul for the Sales Development of the Entrepreneurial Actuary
by Charles P. Preti - New SOA Publication ... Buy the Book!
SOA Staff
The Independent Consultant
May 2010, Issue No. 30
Issue Notes from the Editor
by Bill Ely
In this quarter's issue of The Independent Consultant, we continue to explore the changing world of actuarial entrepreneurs.
[Full article]
From the Chairperson–And the Survey Said ...
by Larry Stern
As you are all aware, the Entrepreneurial Actuaries Section (EAS) Council conducted a membership survey. Our section has a membership of 546. Whenever the SOA conducts surveys, the goal is to receive at least a 10 percent response. For our survey, we received 74 surveys, resulting in an approximate 14 percent response.
[Full article]
The World of Social Media and Risk Management
by J. Eddie Smith
Sony, not Apple, should have given us the iPod. Sony failed miserably because it couldn't collaborate across its many decentralized divisions. It could deliver only one kind of performance–wonderful products coming out of independent business units that had a great deal of freedom. But it couldn't add another level of performance–great products resulting from collaboration across its divisions. It failed to move its performance to a higher plateau–to gain the best of both worlds-by keeping the benefits of having independent business units and reaping big results from collaboration. It lacked disciplined collaboration.
[Full article]
Successfully Build Your Business Network
with "E–Blasts"
by Aurélie Hiernaux
During a business meeting, one common thing easily noticed is the plentiful exchange of business cards. It is after all a good way to keep in touch with other business people and build your own business network.
[Full article]
Exit Planning for Actuarial Consultants: The Sooner You Begin, the Better!
by Michael Oleksak
As owner of your own actuarial consulting firm, decisions about succession, control and ownership occur all the time. As you advance toward traditional retirement age, it becomes time to evaluate your options and make preparations early to ensure continuity of business value and transfer of wealth currently tied up in your business. The sooner you begin this process, the better prepared you'll be–financially and emotionally–when the time comes to actually transfer ownership.
[Full article]
A Compensation Overhaul for the Sales Development of the Entrepreneurial Actuary
by Charles P. Preti
Sales development. A term rarely used in the life insurance arena, particularly when it comes to describing actuarial duties. However, who better to "develop sales" for a carrier than the (entrepreneurial) actuary? In its basic form, developing sales requires two components: a product and someone to promote it. Traditionally these two elements have been separated, but this no longer is the case in our entrepreneurial environment.
[Full article]
New SOA Publication ... Buy the Book!
What Do You Think? Preparing for the Question That All Clients Ask is available for purchase. Member Brad Smith, FSA, MAAA, shares insights from his 30+ year career.
[More]
Plan to Attend the SOA '10 Health Meeting!
We've lined up engaging speakers, thought–provoking sessions and plenty of networking opportunities. You won't want to miss our point/counterpoint debate between two leading minds in health care reform, followed by a question–and–answer session. Matt Weinstein, humorist and author of Work Like Your Dog, will round out our speakers. Sessions on a wide variety of topics–emotional intelligence, trends and issues facing health insurance companies and reinsurers and untapped opportunities for health actuaries–are also planned. And, we're once again offering a unique learning experience–sign up for our computer–based learning session, where you will design a basic health plan to cover the uninsured. The catch? The money available is one–third less than typical employer–based coverage.
