Description: The proposed session will introduce Outcome Based Risk Sharing Arrangements (“OBRSA”) between health insurance payers (“payers”, including insurance companies, health plans, sponsored employers, and government programs) and pharmaceutical manufacturers (“pharma”), and it’s intended to meet the needs of actuaries who focus on pharmacy benefits and risk sharing arrangements. The covered content will include (1) the background of OBRSAs, definitions, stakeholders, and OBRSA’s role in shifting the system from volume-based toward value-based; (2) conflicting perspectives about OBRSAs between payers and pharma (cultural and methodological); (3) identification of incentive gaps between payers and pharma, and incentive alignment between them; (4) barriers to implement OBRSAs; (5) limitations and considerations of OBRSA implementation; and (5) hypothetic OBRSA examples.

Description: Read the March 2017 issue of Small Talk published by Smaller Insurance Company Section. Practical information on trends that impact sections and activities.

Description: The purpose of this paper is to define a predictive model, based on known system attributes, for assessing risk associated with information systems.

Description: Big data and machine learning have been making headlines across industries everywhere, how will it impact the world of actuarial science?

Description: We highlight a new approach leveraging predictive analytics to identify high risk and rising risk opioid users for more effective screening and follow-up care.

Description: Highlights some interesting facts about the quantity pi and about the properties of circles, taken from a recent exhibit of the scientific discoveries from ancient India.

Description: Recurrence relations arise naturally in life contingencies for 2 reasons - the aggregate law of mortality, which relates the distribution of the future life times of 2 insureds, if one of them and the other is that most life insurance products can be constructed as a portfolio of 2 basic product types. We use the above simple idea and the extra freedom provided by the fractional age distribution to reveal a structure behind some common recursions. The structure has obvious pedagogical value. More interestingly, a software based on it has been implemented which facilitates actuarial computing.

Description: The article focuses on the use of predictive analytics in the development of experience studies, pros and cons of using predictive analytics versus traditional techniques, and the implications for setting assumptions and improving profitability.

Description: Actuaries can serve an important role by exploring modeling and data analysis techniques to discover predictive patterns and relationships.

Description: Industry briefings and SOA news