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To the members of the SOA Technology Section
Does anyone still use the phrase "the lazy days of summer"? It seems that during this time of the year, it's just go–go–go. It is the time of year for mid–year reviews, transitions to new fiscal years, and the beginning of high–level annual planning for 2008. Add to the top of this the family vacations and summer activities... I'm looking forward to the autumn slow down–and college football season! And, with football season, comes the SOA Annual Meeting.
Annual Meeting Invitation
We have a great luncheon lined up on Monday during the Annual Meeting in Washington, DC this October. The luncheon is free for Technology Section members. You must register for the luncheon with the general registration for the Annual meeting.
At the luncheon, you'll hear about the section activities that are underway, and accomplishments over the last year. For SOA members and guests attending the Annual Meeting, there are limited SOA–sponsored options during this time slot, so we hope to have a great turnout. Please tell your friends that they can have a free lunch if they join the Section!!
Report on Technology Section Goals 2006–2007
Our Council spent time at our June meeting discussing how we've progressed on achieving our annual goals, and I'd like to share these with the Section.
- Goal #1–Increase Section Membership
From 2005 to 2006, we saw our membership decline. As of current reports, we are still declining in membership from the 2006 count of 1,493 members to our current official count of 1,345. Our Council will spend some time discussing retention and recruiting during the July Council meeting. I am optimistic that we can regain some ground before the Council year ends in October at the Annual meeting. We need about 150 new members to join to maintain our membership count from last October. (Read on to see how new members can get a free lunch at the Annual Meeting in October!)
- Goal #2–Increase Networking Opportunities
We co–hosted a hospitality suite at the Long Term Care Conference in March. We will be hosting a luncheon at the Annual Meeting in October. We're piloting a collaboration portal which will enable online networking and enhance communications between section members.
- Goal #3–Information Sharing
As we move forward with the testing out the collaboration portal concept, we'll explore how the portal can be utilized for information sharing, interactive editorial commentary on our newsletter articles, and possibly "Wiki"–type repository for information. The pilot project for the Collaboration Portal is underway. We are targeting to have a demonstration during our Section Luncheon at the Annual Meeting.
- Goal #4–Publications
Our goal was to publish four newsletters and six TechUpdate e–blasts during the Council year. We are on target to reach this goal. We will continue to recruit more original articles for the newsletter. The formal newsletter's intent is to provide updates on technology applications to actuaries and other pertinent articles. The TechUpdate emails provide the Section membership with an update of Section activities.
- Goal #5–Professional Education
We have presented sessions at the Spring meetings this year, and have planned sessions for the Annual meetings. We also hosted sessions at the Long Term Care conference this year.
We have established a sub–committee to evaluate the current SOA curriculum and identify perceived gaps in the education of our new ASAs and FSAs in the area of technology. The sub–committee will be making a recommendation to the Education Committee for augmented study materials.
We are planning a webinar this fall. The subject matter will complement one of the sessions that will be provided at the Annual meeting.
- Goal #6–Research
We are nearing completion of the development of a standard format for scenario files which are commonly used in stochastic modeling. Along with the standard, tools are being developed to enable the use of the standard format.
We will be conducting a survey of the SOA membership, to better understand the technology interest areas of the membership at large. We'll use the information to guide our future plans for education and research offerings.
We are also participating with the Futurism Section and the Marketing and Distribution Sections on a project called "Blue Ocean Strategies in Technology for Business Acquisition by the Life Insurance Industry." This research project is intended to look at innovative ways for the insurance industry to acquire new business.
Conclusion
I hope this summary gives you an appreciation for the direction that our Section is moving. Today, technology is such a key ingredient in the success of every actuary. To ensure that you have the opportunity to continue learning about technology trends and issues, your section leadership meets monthly via teleconference. If you have something for us to consider as we evolve our section, please let us know.
Other Council Members
- Kevin Pledge
- Vice–Chairperson
- Communications Coordinator
- 905.475.3282 x 2
- Joseph Liuzzo
- Secretary/Treasurer
- Table Manager Workgroup
- 704. 988.5849
- Tim Rozar
- Spring Meeting Program Coordinator
- 636.736.7541
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