Description: The actuarial profession has been questioning the continued applicability of its historical paradigm and principles over the past decade. The author feels actuaries should stick with their historical strengths.

Description: Principle #4: People make buying decisions based on emotion and justify these decisions with logic. To be influential, we need to take into account both logic and emotion. Of the two, emotion is a much more powerful motivating force. Unfortunately, too many people ignore the emotional component and focus solely on logic - neglecting what compels people to buy.

Description: A summary of potential future software-induced changes to the insurance industry, with a particular emphasis on machine vision technologies.

Description: A roundtable discussion of changes in the nature of actuarial work and the skills actuaries will need to be successful in the future.

Description: Describes the characteristics employers look for in actuaries-with the theme that all start with the letter C.

Description: The objective of this statement of principles is to articulate the current understanding of the significant principles that form the scientific framework underlying all areas of actuarial practice. The intended audience includes practicing actuaries, researchers and others, such as representatives of standard-setting organizations. This articulation is not immutable and should be revised if changes arise in our understanding of the key concepts and phenomena relevant to actuarial science, or if a better expression of the ideas is developed. This statement is the culmination of an effort that begin with the October 1991 draft by the SOA Committee on Actuarial Principles entitled “Principles of Actuarial Science. After incorporating numerous comments, that statement was published in Transactions of the Society of Actuaries XLIV, 1992.

Description: This article summarizes the treatment of changes in the basis for determining life insurance tax reserves under prior law and describes the changes enacted by the Tax Cuts and Jobs Act. It further explains the procedures for changing the basis of computing reserves under the new rules as outlined in Revenue Procedure 2019-10, the IRS’s December 2018 guidance on the subject, and discusses the uncertainties that remain.