Description: The author constructed the efficient frontier of new business sales by modeling the embedded value and economic capital against a universe of possible growth rates of the three lines of business in a typical three-year planning horizon. The ERM function can use the efficient frontier of new business to provide a more rigorous analysis of the impact of growth rates on the firm’s overall capital efficiency and value creation, hence forming a feedback loop with the businesses in the planning process to optimize the growth strategy.

Description: We demonstrate an integrated enterprise risk management (ERM) solution to optimize the risk portfolio, identify natural hedges, create an optimal risk treatment plan, enhance risk culture, and facilitate risk reporting throughout the organization.

Description: This Specialty Guide is designed to be a source of information for practitioners interested in: Learning more about the subject of Economic Capital; finding out about current market practices in this area; and getting acquainted with available literature on this topic.

Description: Enterprise Risk Management is often thought to be synonymous with managing an insurance company toward financial objectives with a focus on insurance-specific risks. Some might argue though that operational risks are the crux of all risks confronted by an insurance company and ultimately drive the company’s outcomes.Operational risk is the risk of impact on financial outcomes due to operational events, involving internal systems, personnel, procedures or controls, and also external events. Operational risk exists in all business activities, covering fraud, human error, accounting errors, legal actions and system failures. All of these activities could occur during the course of conducting day-to-day business operations. Additionally, insurance executives must consider the pace of change in the external environment and potential impacts on their business. This presentation is focused on operational risks, current and emerging, faced by health insurance companies.

Description: This paper introduces basic embedded value EV principles, concepts and formulas that will be especially valuable to the beginning students of EV.

Description: The Society of Actuaries is interested in contracting with an external organization to develop and deliver an in-depth seminar for actuaries in hands-on Economic Balance sheet calculation. The purpose of this document is to provide enough detail to prepare a response, however, creative solutions are highly encouraged.

Description: A risk map is an effective and dynamic tool in helping companies develop a broader view of their risks.

Description: This 1960 report presents the results of the investigation of the mortality and withdrawal experience under permanent forms of life insurance policies issued on the attained age basis without medical examination under the Group Life conversion privilege. From the Transactions of Society of Actuaries, 1960.

Description: This article describes Solvency II, an overhaul of the European regulatory regime, and discusses the implications for reinsurers.

Description: Describes why, contrary to common opinion among financial economists, investments may be less risky for a longer time horizon. Describes where the assumptions underlying Paul Samuelsons assertion may not apply