Description: This panel discussion session focused on the practical applications of risk theory.

Description: With many complex regulatory changes on the horizon as well as pressures to ensure model accuracy from auditors, regulatory requirements and new actuarial standards of practice, the importance of robust model validation is coming to the forefront of actuaries’ minds. What was previously a day-two task for many companies is becoming just as important as model development! In this session, you will hear from those that have been deeply involved in building model validation frameworks and tools in responses to regulatory changes GAAP Long Duration Targeted Improvements (“LDTI”) and Principles Based Reserves (“PBR”).

Description: This 1978 session on classification models included 1. models demonstrating the effect of a classification system superimposed on a merit rating system and 2. models demonstrating the subsidization of poorer risks.

Description: 1996 Valuation Actuary Symposium. Topics discussed in this session included developing an approach to quantifying C-3 risk and exploring ways to improve the C-3 component of the NAIC RBC formula.

Description: As the use of predictive models and novel datasets becomes more prevalent, a focus on consumer protection is being highlighted by regulators, ethicists, and industry insiders. Over time, increased rigor should and will be applied in model development and implementation. These issues are not new. Hundreds of individuals have worked on these issues in the laboratory, the board room, and the court room. The Civil Rights Act of 1964, Uniform Guidelines of the US EEOC, the Principles for the Validation and Use of Personnel Selection and other sources are intended to protect the rights of citizens and consumers and provide guidance to professionals in the development and use of decision-making tools. Drawing heavily on examples and parallels from psychology and employment practices as well as other disciplines, concepts such as model bias, fairness, adverse impact, disparate treatment and the like will be presented. Suggestions to ensure model validity, demonstrate model and data relevancy and minimize the potential for adverse impact to protected classes will also be offered. Each of these considerations will be linked to recent dialogue and concerns in the Life Insurance sector.

Description: 1996 Valuation Actuary Symposium. The purpose of this session is to enhance understanding of what it means to have an adequate reserve based on cash-flow testing by taking the audience into the world of interest rate models and interest rate model generators.

Description: Presented at October 1985 Annual Meeting. This session focused on three projects funded by the Actuarial Education and Research Fund: risk models, operations research applications for actuaries and probability modeling of losses.

Description: 1994 SOA Spring Meeting, Orlando. In this session the panelists debated the diversity of professional practice about how companies and regulators can and should measure profit and set standards for profit margins. One panelist spoke of the traditional actuarial perspective, while the other represented the modern theory of finance.

Description: This discussion at the SOA 1968 Philadelphia and Los Angeles Regional Meetings is about corporate planning and the actuary's role in the process.

Description: From session 76 CS at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999. Presenters demonstrate the potential risks of relying blindly on our models without sensitivity testing.