Description: A discussion of the hidden costs of bringing innovative products to market, including the costs of expertise gaps and opportunity costs

Description: A discussion of the hidden costs of administering complex Products including operational inefficiency, product development constraints, increased time to market, inability to monitor experience, and lost cross selling opportunities among other things

Description: Results of the 2020 survey on the effects of the Pandemic

Description: Results of a Survey of JRMS members re claims changes due to COVID

Description: This article considers ways actuaries can meet the growing demands of senior executives by redefining their role and the actuarial operating model.

Description: Discussion of the economics of a possible H5N1 pandemic, and its impact on Life, Health, and Property and Casualty insurers, in terms of areas of risk, especially underwritng risk, operations risk, and market risk.

Description: Panel dicussion on the need for information to keep a block of long-term care insurance profitable: what the business risks are, what is being done to mitigate them, what kind of reports are needed, and how these differ from reporting on other types of health insurance.

Description: Article discussing the use of ERM in today’s economy.

Description: Obsolescence of physical assets and processes is a major component of operational risk for some companies. A simulation experiment shows that managers, who consider the retirement and replacement of individual assets in isolation, have rational incentives, due to risk aversion and uncertainty, to defer the replacement of assets past a time that is optimal from the perspective of the shareholder who owns the entire portfolio of such assets. This results in measurable wealth destruction, —and a demonstrable opportunity to significantly enhance a company’s value. A practical decision model for the replacement timing of fixed, physical assets, which creates wealth by minimizing the long-term consumption of scarce resources, is provided.

Description: This article is about a session held at the October 1996 annual meeting, which focused on how actuaries can move beyond traditional employers.