Description: Details on the Retirement Section Council and the direction we're moving for our members.

Description: Interview with new incoming Chair of the Reinsurance Section

Description: To review 2021 and look forward to 2022 as the new Chair of the Actuary of the Future section council

Description: In this third issue of International News in 2022, we feature a contribution by SCOR, a leading reinsurer, highlighting the Actuarial Awards that SCOR presents annually, since 1996, to the best academic work in actuarial science, with annual prizes in several countries throughout the world. We also feature an article by Jessica Leong, FCAS, on barriers that Asian women must overcome to become leaders. Jessica recounts her own experience and how in overcoming some challenges she became the first Asian president of the Casualty Actuarial Society.

Description: An overview of bias and fairness in machine learning models, as they apply to use cases in life insurance.

Description: Schaumburg, IL, June 23, 2022 – The Society of Actuaries (SOA) has recognized Nanyang Technological University in Singapore and the University of California, Santa Barbara (UC Santa Barbara) in the U.S., as Centers of Actuarial Excellence (CAE). These two universities join the ranks of 35 other CAEs around the world.

Description: This month, Expanding Horizons had the opportunity to interview Tim Boonen, the winner of the Society of Actuaries’ (SOA’s) second Actuarial Science Early Career Award.

Description: This paper uses the ideal quasi-natural experiment of government-subsidized agricultural insurance program phased out in different regions of China since 2007 to study the effects and transmission mechanisms of the program on alleviating regional poverty using a multi-period Difference-in-Differences (DID) approach. Specifically, this paper identifies the causal effects on the incidence, depth and intensity of poverty among rural residents. The research has important policy implications. First, this paper uses the program as a case to provide a research paradigm to estimate effects of implementing policy instruments that combine markets and government mandates. Second, as common prosperity is now a government imperative, the research also provides insights into ways insurance can be used to hedge income risks, alleviate poverty and help achieve more equitable distribution. The paper has been published on WeChat account of Chinese Association of Actuaries on February 9, 2022. The full version has been published in CSSCI journal Insurance Research, issue 11, 2021.

Description: Risks is an international, scholarly, peer-reviewed, open access journal for research and studies on insurance and financial risk management. An upcoming special issue is aimed at bringing novel research on quantitative modeling and empirical findings in finance and risk management to a broad audience of academic researchers, industry professionals and regulators.

Description: Actuaries are leveraging predictive modeling and machine learning more and more as they strive to provide greater value to their stakeholders. Actuarial standards of practice provide guidance around modeling and data. The world has changed significantly over the last few years, so it is important these models be tested for fairness as well as any statistical biases. This article addresses some of the key issues actuaries need to be aware of as Corporations and society work through the responsible us of this technology and underlying data.