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Long-Term Care Modeling, Part 2: First-Principles Modeling
advantages relative to the disadvantages, set out in Table 1. BUSINESS SITUATIONS THAT MOTIVATE FIRST- PRINCIPLES ... and increase effectiveness of input controls, Table 1 Deciding Whether to Convert to a First- Principles ...- Authors: Lo Linda Chow, Jeremy Levitt, Yuan Yuan, Laura Knab
- Date: Nov 2017
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Long-term Care>Long-term care insurance; Modeling & Statistical Methods>Modeling efficiency
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A Practical Approach to an Enhanced Premium Persistency Assumption
approach focuses only on pre- mium history at an individual policy level. The examples in this article will ... incorporates past premium payment behav- ior on an individual policy level. The assumption uses premium paid ...- Authors: Nick Komissarov, Ying Zhao
- Date: Apr 2016
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Problem analysis and definition
- Publication Name: The Modeling Platform
- Topics: Life Insurance>Policyholder behavior - Life Insurance; Life Insurance>Universal life; Modeling & Statistical Methods>Deterministic models
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The Modeling Platform
opinions expressed herein are those of the individual authors and are not necessarily those of the ... critical path of the process—especially for valuation processes. In such cases, run time is a material ...- Authors: Society of Actuaries
- Date: Apr 2016
- Competency: Professional Values>Practice expertise; Technical Skills & Analytical Problem Solving>Incorporate risk management; Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Problem analysis and definition; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Actuarial Profession>Best practices; Actuarial Profession>Competencies; Enterprise Risk Management>Governance; Enterprise Risk Management>Operational risks; Life Insurance>Policyholder behavior - Life Insurance; Life Insurance>Universal life; Modeling & Statistical Methods>Deterministic models; Modeling & Statistical Methods>Modeling efficiency; Modeling & Statistical Methods>Scenario generation; Modeling & Statistical Methods>Stochastic models; Technology & Applications>Software
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Real-world interest rate models in a low interest rate environment
policies issued between 2003 and 2015. The following table sum- marizes the interest rate guarantees by issue ... defined dynamically. • At the June 30, 2015, valuation date, the starting portfolio consists of bonds ...- Authors: Marshall Lin, Jean-Philippe Larochelle, Francisco Orduna
- Date: Dec 2015
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Economics>Financial economics; Modeling & Statistical Methods>Scenario generation; Modeling & Statistical Methods>Stochastic models
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Applying FinTech and IT Practices to Building Actuarial Models
contracts in our pricing pipeline and a growing valuation block. My existing runtime is unacceptable, and ... your calculation engine. Adding or expanding a table or adding a new switch should require no coding ...- Authors: Michael Sullivan, Igor Nikitin
- Date: Nov 2018
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Modeling & Statistical Methods>Modeling efficiency; Technology & Applications>Computer science
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Long-Term Care Modeling Part 1: An Overview
considerations. The models are compared further in Table 1. MULTI-STATE STOCHASTIC MODEL A multi-state model ... summarize incurred benefits Intuitive summary from valuation models Faster model run time Possibly greater ...- Authors: Lo Linda Chow, Kevin Kang, Jillian Cataloni
- Date: Dec 2016
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Long-term Care>Long-term care insurance; Modeling & Statistical Methods>Modeling efficiency
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Modeling Sessions at the 2016 Life/Annuity Symposium: Summary
one. There was a sneak peek of results at the Valuation Actuary Symposium in August 2016, and the completed ... involved some loss of personal control for the individual modeler but is key to the integrity of the model ...- Authors: Mary Campbell
- Date: Dec 2016
- Competency: Professional Values>Practice expertise; Technical Skills & Analytical Problem Solving>Innovative solutions
- Publication Name: The Modeling Platform
- Topics: Enterprise Risk Management>Governance; Modeling & Statistical Methods>Deterministic models; Modeling & Statistical Methods>Dynamic simulation models; Modeling & Statistical Methods>Modeling efficiency; Modeling & Statistical Methods>Stochastic models
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Actuarial Model Component Design
depend on the function of the model. For example, valuation models are going to have a lower threshold for ... Enterprise- level standardization. Just as an individual model can be standardized, the modeling function ...- Authors: Bill Cember, Jeffrey Yoon
- Date: Nov 2017
- Competency: Results-Oriented Solutions>Actionable recommendations; Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Problem analysis and definition; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Modeling & Statistical Methods>Asset modeling; Modeling & Statistical Methods>Deterministic models; Modeling & Statistical Methods>Forecasting; Modeling & Statistical Methods>Sensitivity testing; Modeling & Statistical Methods>Stochastic models
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Modeler Q&A with David Yu
Modeler Q&A with David Yu Modeling experience sharing by David Yu who leads the retirement ... products. The annuity module is designed for an individual annuity, and it may not be equipped to model ...- Authors: Hoi Kwan, Donghai Yu
- Date: Nov 2018
- Competency: Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Annuities>Group plans - Annuities; Finance & Investments>Asset liability management; Modeling & Statistical Methods>Asset modeling; Modeling & Statistical Methods>Deterministic models; Modeling & Statistical Methods>Scenario generation; Modeling & Statistical Methods>Stochastic models
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Adding Value with Model Validation
complexity of financial products, the evolu- tion of valuation and capital requirements and the high- profile ... PBR is not just about technical changes to the valuation process. PBR requires model owners to describe ...- Authors: Winston Hall, Veltcho Natchev, Mike Minnes
- Date: Nov 2017
- Competency: Communication>Active listening; Communication>Difficult message delivery; Leadership>Change management; Leadership>Thought leadership; Technical Skills & Analytical Problem Solving>Incorporate risk management; Technical Skills & Analytical Problem Solving>Innovative solutions; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: The Modeling Platform
- Topics: Actuarial Profession>Best practices; Enterprise Risk Management>Governance