Description: Actuaries are Known as highly ethical. Data Science poses ethical challenges for our profession.

Description: Article presents issues for postretirement medical on models, data and the frail elderly. From Health Section News, December 2000, Issue No. 39.

Description: There are two main techniques for evaluating the financial impact of interest rate movements on insurance companies: duration measures and computer simulations. In many ways these approaches provide complementary viewpoints.

Description: The author comments on the article Exposure Formulas Based on the Assumption of Uniform Distribution of Deaths written by T.N.E. Greville.

Description: This is the second of a two-part article introducing and elaborating an “Adaptor” strategy for ERM. Such a strategy is intended to fulfil two purposes: first, switching among four styles of risk-coping strategies in order to track qualitative changes in a business’s risk environment; and, second, to support the business in navigating with resilience through all the seasons of a business-economic cycle, i.e., of boom, bust, moderate, uncertain. This latter requires careful study of the nature of resilience, the familiar idea of bounce back, and the less familiar idea of bounce forward. Part I of our article is underpinned therefore by a supplementary document (available from https://riskviews.wordpress.com/adaptor-exceptionalism/), which addresses the issue of structural change in a business or economy. It draws heavily on ideas taken from the discipline of control engineering, as well as some from ecology, social anthropology, and economics. The entire two-part article is thus an exercise in cross-disciplinary Systems Thinking.

Description: Actuaries can leverage cluster modeling to reduce model runtime and cloud compute costs, which can be a real concern as companies transition from an on-premise grid to a scalable cloud solution. We consider practical considerations associated with clustering, through both US statutory and US GAAP lenses. Lastly, the results from a variable annuity liability clustering case study are presented.

Description: This article discusses the Modeling Actuarial Standard of Practice. Intent and questions related to a model across all practice areas is discussed

Description: Cautions against putting too much faith in financial models - such as the IASB's proposal to accrue future expected profits on the day a policy is issued.

Description: Discussion on modeling Medicare Supplement insurance and the considerations when choosing an Actuarial Modeling Software (AMS). Focuses on model risk management, key modeling assumptions and inputs, and the complex interactions between modeling assumptions and why its critical to have a model that can handle that complexity. This article also touches on the incorporation the of accounting and regulatory regimes into the model, including Statutory, GAAP (Legacy and LDTI), and Tax regimes, and the modeling considerations for sensitivity testing and capital planning. Lastly, the article highlights the capabilities to look for when choosing an AMS for Medicare Supplement