2018 Board Member Candidate
Roger Loomis, FSA 2007, MAAA
Actuarial Resources Corporation
Principal
Overland Park, KS
Election Message
I want to help the SOA stay focused on its primary mission: to support cutting edge research and provide the highest quality basic and continuing education programs available anywhere. We need to stay focused on this to maintain and enhance the value that actuaries offer, expanding the reputation of the actuary as the best and most unbiased resource for financially complex issues.
The interests of SOA members are best served by promoting and enhancing the reputation of the actuarial profession as a whole. To do that, the SOA needs to cooperate and collaborate with the other actuarial organizations.
Brief description of current work
I am a principal at Actuarial Resources Corporation (ARC). My consulting activities focus on a couple of things that I am passionate about. First, I am passionate about creating financial reporting systems that produce reports and dashboards that help management better understand the emerging experience of their business. Second, I am passionate about creating actuarial models that do a better job of measuring risk and capturing the interaction of complex benefits.
Within the US, I specialize in LTC and LTC-UL combo products. However, a significant part of my practice is with international companies helping them comply with Solvency II and IFRS, particularly in Latin America, where the SOA is currently making an outreach.
Primary Area of Practice
Health
Bio
I have 21 years of actuarial experience, mostly in the areas of financial reporting, modeling, and experience analysis. I have been with ARC for 11 years. Prior to that, I worked for Great American Life, Milliman, Unum, and Pan-American Life.
Major Recent Work Projects
- For multiple U.S. insurers, implemented Prophet pricing models for their LTC-UL combo products. These models use Monte Carlo simulation to capture the path-dependent contingencies on a first-principles basis.
- Created a nested stochastic model to help a large Government organization evaluate the riskiness of different LTCI plan designs and create a plan with more stable premiums.
- Designed a cutting-edge dashboard to help a large health system monitor and understand their disability income claim reserves.
- Designed a Prophet model to calculate the reserves for a pension plan in Mexico with multiple decrements, lives, and benefits.
- Led a team in the creation of a Prophet Solvency II model for a large insurer in Mexico.
Sample of Professional Involvement:
- Exam Committee for the new Predictive Analytics ASA Exam, 2017 to present
- Publication - The Case for Variable Long-Term Care Insurance, Contingencies, January-February 2018 (co-authored with Paul Forte)
- Led research of the “LTC Pricing Project” which used statistics to compare the stability of LTC premiums of policies issued in 2000, 2007, and 2014
- Presentation – First Principle Modeling, Kansas City Actuaries Club, July 2017
- Presentation - Adopting the New Individual Disability Valuation Table, Society of Actuaries Health Meeting, June 2017
- Panelist – The Future of Long-Term Care Insurance, Association of Insurance and Financial Analysts, March 2017
- Webcast – The SOA’s Pricing Project: What is Risk of Rate Increase on New LTCI Policies? Society of Actuaries Webcast January 2017
- Presentation – LTC Pricing Trends and Their Impact to the Spectrum of LTC Products, Society of Actuaries Annual Meeting, October 2016
- Presentation – Long Term Care Insurance: Where We Are and Where We’re Headed, American Council of Life Insurer’s Annual Meeting, October 2016
- Presentation – Why LTC Actuaries Believe New Pricing is Stable, National Association of Health Underwriters Annual Convention, June 2016
- Presentation – Applying LTC Experience to Hybrid Product Pricing, Society of Actuaries Life and Annuity Symposium, May 2016
- Presentation – When to Model Stochastically (and when not to), Intercompany Long Term Care Insurance Conference, March 2016
- Presentation -- Are Current LTCi Policies At Risk Of Future Rate Increases?, AALTCI Long Term Care Solutions Sales Summit, October, 2015
- Presentation – LTC Pricing Study Results, Southeast Actuaries Conference, June 2015
- Keynote Address - Viewpoints from Outside and Inside the LTCI Industry, Intercompany Long Term Care Insurance Conference, March 2015
- Led the “Land this Plane” research project jointly sponsored by the SOA’s Research Executive Committee, LTC Section, and Forecasting and Futurism Section to use the Delphi Method to articulate a consensus opinion on how America can best deal with issues involving LTC funding.
- Presentation (in Spanish) – Análisis del riesgo y varianza de productos de largo plazo, Congreso Nacional de Actuarios de la Asociación Mexicana de Actuarios, October 2015
- Publication – A Portrait of the Actuary as a Young Man, Long-Term Care News, August 2014
- Co-Chair, Long-Term Care Think Tank, 2012 to 2014
- Publication – Understanding the Volatility of Experience and Pricing Assumptions in Long-Term Care Insurance, which is now part of the NAIC LTC model regulation. Also, this paper is on the syllabus for the Life Pricing exam as of May 2014
- Publication – Facing Reality: LTC Is Broken: Let’s Fix It, Long-Term Care News, June 2013
- Publication – Solving the LTC Crisis in 20 Minutes, Long-Term Care News, January 2013
- Officer of Kansas City Actuaries Club, 2009 - 2012
- Councilmember, Society of Actuaries Long-Term Care Section Council, 2009 to 2012
- Member of AAA Consumer-Driven Health Plans Work Group, 2009
- Publication – Measuring Subsidization in LTC, Long-Term Care News, May 2009
Education and Foreign Language
- SOA Predictive Analytics Certificate (2017)
- Michigan State University: MA in Economics
- University of Utah: BA in Economics
- Fluent in spoken and written Spanish