Description: Comparison of open code and closed code actuarial modeling systems, focusing on advantages and disadvantages of each group.

Description: This paper reviews the applications of operations research methods in the insurance industry. From Transactions of Society of Actuaries 1995, Vol. 47.

Description: This paper discusses the Whittaker-Henderson graduation method. From Transactions of Society of Actuaries 1984, Vol. 36.

Description: This article discusses techniques for modeling credit risk, including discussion of default assumptions and recovery rates.

Description: This paper sets forth a method of estimating the present value of the cost of future nonvested commissions. It also provides a method of producing an agents' survival table. Followed by several discussion papers submitted

Description: In it’s insurance capital model, Standard & Poor’s Ratings Services has established criteria to adopt the NAIC’s stochastic approach to variable annuity risk. This approach, which replaces existing static charges, better reflects the products’ risk.

Description: Feature article discussing the use of stochastic volatility models in the pricing of investments and options.

Description: Actuarial models have always been an important tool for helping companies project future results and understand risks. As complex models have started to become critical components of the reporting and compliance processes, however, models have vaulted to new levels of importance—and of scrutiny. This has raised everyone’s interest in the management of models, and by implication, in their ability to control the inherent model risk. From Small Talk Newsletter, Issue 37, January 2012.

Description: This paper offers a decision making procedure for solving complex problems step by step. It presents the decision analysis process for both public and private decision making, using different decision criteria, different types of information, and information of varying quality.

Description: The purpose of this paper is to help practitioners and regulators more accurately quantify the potential impact of market risk on insurance products with equity-linked guarantees. To this end, this paper examines time series model selection and assessment based on residuals, with a focus on regime switching models. Also it discusses the difficulties in defining residuals for such processes and propose several possible alternatives. We determine that a stochastic approach to defining the residuals is the only way to generate residuals that are normally distributed under the model hypothesis.