Quantum Computing and its impact on Actuarial Modeling
October 2023
Author
Kailan Shang, FSA, CFA, PRM, SCJP
The complexity of actuarial modeling keeps growing given the broad guarantees provided by insurers, the heightened market volatility and correlations, and the regulatory reforms that require more comprehensive, and usually stochastic, analysis. The fundamental breakthrough of computing technology, such as quantum computers, has a potential to solve many of the computationally intensive issues faced by actuaries. This research introduces quantum computing to actuaries and also identifies areas in the insurance field where quantum computing can make a difference.
Report
Quantum Computing and its impact on Actuarial Modeling
Acknowledgements
The authors would like to thank all members of the Project Oversight Group (POG) tasked with providing governance on this research project. This paper would not have attained its current level of relevance to practitioners without the POG’s guidance, feedback and insightful input.
Project Oversight Group members:
Brent Carpenetti, FSA, MAAA, CERA
Lysanias Chikwanda
Tyler Doiron
David Moran, FSA, MAAA
Bryon Robidoux, FSA, MAAA, CERA
Sam Wehner, ASA, MAAA
At the Society of Actuaries Research Institute:
David Schraub, FSA, CERA, MAAA, AQ
The authors would also like to thank Korrel Crawford for her effective coordination of this project, as well as the sponsorship and funding support of the Society of Actuaries.
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