Description: This paper surveys the actuarial techniques connected with salary scale mathematics for the valuation of defined benefit pension plans. Followed by several discussion papers submitted

Description: This people provides a derivation of continuous and curtate inequalities of life contingent functions and shows how the proofs of the continuous inequalities are of an entirely different nature from the usual proofs for the curtate inequalities Followed by discussion papers submitted by several authors

Description: This paper reviews the applications of operations research methods in the insurance industry. From Transactions of Society of Actuaries 1995, Vol. 47.

Description: Discussion of the diversification activities of a number of life insurance companies. This includes the formation of, or acquisition of, property and casualty insurers, variable annuity companies, mutual fund management companies, banks, finance companies, leasing companies, real estate development companies, televisions and radio stations, newspapers, software consultants and other corporate enterprises. Discussion includes: 1. Activities really compatible with the llfe insurance product. 2. Activities otherwise compatible with corporate objectives or offering potentially large profit centers. 3. Activities which can be an excessive drain on corporate earnings and executive manpower 4. The actuary's role in these diversification activities. Then the discussion goes into a discussion of corporate planning models

Description: The birthday rule is used to determine whether the father's or the mother's insurer is liable for a child's medical bills, where the liability rests with the insurer of the parent whose birthday falls in the first half of the year. It is assumed that the odds are even that the liable insurer will be the mother's, vs. the father's. This paper demonstrates how the key determinant of whether this assumption is valid is the distribution of the difference in spouses' ages.

Description: The objectives of this paper are: 1. To show why scientific laws of mortality are preferable to the continued use of graduation techniques on mortality tables. 2. To develop a new theory leading to a new mathematical law of mortality that reduces to Gompertz's law as a first approximation. 3. To demonstrate an understanding of select mortality and produce a simple formula that is reasonably consistent with it. 4. To develop methods to test this and other similar formulas on various bodies of data to establish their validity and usefulness. 5. To discuss the meaning of the results and provide some examples of the use of the formula for purposes other than graduation. 6. To discuss extensions of the models. From Transactions of Society of Actuaries 1980, Vol. 32.

Description: This paper is from the Transactions of Society of Actuaries 1956 Volume 8, Number 20. It was presented at the 1956 Spring Meetings of the Society of Actuaries for discussion. The author presents an outline of how difficulties in the determination of a frequency distribution of the expected costs may be overcome by, in part, applying the concept of using a series of random numbers with a view of making mortality studies for each life in a group of annuitants. The paper also presents the results of some experiments which were designed to discover whether or not the concept could be conducted on an IBM 650 electronic data processing machine.

Description: This paper is from Transactions of Society of Actuaries 1955 Volume 7, Number 17. The author notes that in mortality studies the ‘natural’ unit for exposures and deaths is number of lives, but often more insight is gained by use of other weights, such as face amount. In this paper, the author develops a method which, ‘by a combination of exposed to risk formulas, provides a comparatively simple procedure to permit consideration of weights which vary during the observation period.’

Description: This section contains book reviews and a select bibliography. From Transactions of Society of Actuaries 1973, Vol. 25, Pt. 1, No. 73. Book topics include statistics, quantitative methods for determining IBNR, and Investing for a Financial Institution. Other books on actuarial and insurance topics are briefly discussed.

Description: The following topics were discussed at concurrent sessions: 1. Personal Security in the 1970's- United States and Canada, 2. Adjusted earnings for life companies, 3. Pension funding, 4. What about these younger actuaries?, 5. Sources of statistical information for actuaries, 6. Variable life insurance, 7. Models and decision techniques, and 8. Role of the actuary in expense control. From Transactions of Society of Actuaries 1970, Vol 22, Pt. 2, No. 63.