2019 Call for Essays: Actuarial Practice Innovation

Background and Content

There are currently numerous technology transformations taking place that invite actuaries to pursue innovative solutions to traditional and nontraditional actuarial problems. This call for essays seeks to give inventive actuaries the opportunity to identify how these technology transformations are likely to impact actuarial practice innovation in the future.

The Actuarial Innovation and Technology Steering Committee of the Society of Actuaries is issuing this call for essays to gather data, thoughts, opinions and innovative ideas as to how some of the current technology changes will impact the profession. The following are examples of proposed topics that may be addressed:

  • How actuaries have designed innovative solutions using more advanced approaches than in the past
  • Collaborative efforts where actuaries have championed innovation across a wide array of professions
  • Using new sources of big data to drive product development and bring new products to market
  • Designing more dynamic models that can readily be adjusted as new information becomes available

Note that the above list is not meant to be exhaustive but merely examples of proposed topics that may be researched.

Stakeholder Perspectives

Essays should consider that there are multiple stakeholders in any implementation of new technologies and innovations. The essays should discuss how such changes could impact various stakeholders, including

  • policymakers
  • regulators
  • insurance companies
  • policyholders
  • providers (as applicable)

Timeline

September 5, 2019: Call for essays issued

October 31, 2019: Deadline for submission of essays

November-December 2019: Review of essays and selection by December 31, 2019.

Length and Instructions for Submission

Essays must be submitted in English with a length requirement of between 1,000 and 2,500 words. In the event that an essay exceeds 2,500 words, the essay may be declined or returned to the author with a request for further editing and resubmission. There is no requirement for formal or extensive footnoting.

Author information must be submitted with the essay and include name; credentials or designations (if appropriate); title; organization/company; e-mail address; and phone number. Please provide all author information at the beginning of the essay.

Essays that contain any overt political statements, commercial content, and other inappropriate material will not be accepted. Articles must comply with the SOA's antitrust guidelines.

Please submit your essay via e–mail by October 31, 2019 to:

Korrel Crawford, Senior Research Administrator
Society of Actuaries
e–mail: kcrawford@soa.org

Awards

$10,000 in award money has been allocated for this call for essays. The review committee will select the leading essays and determine how to allocate the award money.

Awards for the top three (3) essays will be granted, allocated as follows:

 - First Prize - $5,000

 - Second Price - $3,000

 - Third Prize - $2,000

Consideration will be given to creativity, originality and the extent to which an idea could contribute to the further development of solutions.  In exchange for award money, selected authors will be required to assign all copyrights in their essays to the Society of Actuaries.

Authors are ineligible for awards if an essay is based on an SOA-sponsored and funded research study conducted by the author. However, authors are welcome to submit such essays for publication consideration.

Publication and Presentation

Depending on how many essays are received and the diversity among the topic areas, a suitable format for electronic publication and dissemination will be selected.  Essays may also be presented at an SOA meeting, webcast, or other professional development event.

In addition, other venues for publication or presentation of the ideas outside of the SOA will considered. It is hoped that publication of the collected essays will further knowledge and stimulate discussion as well as promote future efforts in this area.

Rights Granted

Please understand that by submitting an essay for consideration, the essay author(s) is granting to the Society of Actuaries an unlimited license to print or republish their essay, with proper attribution given to the author. 

Questions

Please direct any questions regarding this Call for Essays to:

Dale Hall, Managing Director of Research
Society of Actuaries
ph: +1-847-273-8835
e–mail: dhall@soa.org