Description: This column highlights the articles contained in the February 2010 issue of The Independent Consultant.

Description: This paper discusses the issues of an independent actuary providing product development, or more accurately sales development, services to a life insurance company. The author explores the process, and proposes “compensation to the entrepreneurial actuary who accepts the challenge of operating in a setting where true success is not measured by isolating theoretical profit margins or business sold, but rather focusing attention on the unfolding experience of what is hopefully to be truly profitable policies.” Instead of basing the actuary’s compensation on time spent, the author is suggesting compensation based on results.

Description: This article notes how “we can do much more at the company, industry and social level by combining what we know with other actuaries as well as members of other disciplines.” This will become easier due to social technologies that allow individuals to collaborate regardless of conventional barriers. The author asks “how do we use these new social technologies to leverage our existing actuarial skill set data in a way that creates value for customers and clients?”

Description: In this paper, Honorable Mention Essay for the Society of Actuaries' Entrepreneurial Actuaries Section 2010 Papers Competition, the author discusses the relative lack of personal insurance programs in third world countries, and the opportunities and challenges this presents to entrepreneurial actuaries. This essay discusses approaches for solving the issues in order that personal insurance programs in the third world will become a viable business opportunity. In addition to being an opportunity, the author believes this should also be an area in which actuaries feel a responsibility for finding solutions, because actuaries understand the problems and can find the answers. The author also suggests ways the Entrepreneurial Actuaries Section can help.

Description: In his farewell article, the outgoing chairperson of the Entrepreneurial Actuaries Section solicits more ideas regarding how the section can better meet the needs of its members.