Description: On October 30, 2015, the SOA Assumption Development and Governance Group, an informal discussion group consisting of nearly 200 interested actuaries with topics pertaining to actuarial assumption development and governance, organized an industry discussion call on end-to-end assumption documentation practices. The purpose of this call was to generate a large list of ideas for best-practice assumption documentation. More than thirty companies were represented in the call, including direct insurers, reinsurers and consulting firms. This article is the work product of the discussion written by Laurie Li and Alex Zaidlin.

Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.

Description: Describes using the new multi-risk scenario generator to create sensitivity tests at moderately adverse probability levels, resulting in margins to use for PBR.

Description: From the 1985 Valuation Actuary Symposium. A discussion of the principles that should be part of a life insurance valuation. Also discussion of emerging actuarial professional standards of practice and regulatory requirements with respect to methodology for assessing reserve adequacy.

Description: Exploration of sources of volatility in retiree health valuations, noting how volatility arises and might be mitigated, with discussion of valuation parameters more problematic for retiree health benefits than for pensions. Three significant influences on retiree health valuation volatility are covered-- changes in benefit level, fluctuations in cost level, and alterations in eligibility for, or duration of, benefit – and attention focused on the last two. Specific conclusions result in recommendations, which are supported by practical examples contrasting volatile measurement results with those likely from the recommended practices. Theoretical discussion includes health claim variation, health trend usage, financial economics, option pricing, discount rates, and deterministic vs. stochastic modeling.

Description: This is a discussion about the business effects of adoption of the 1958 CSO mortality table, possible reasons for the declining trend in individual life insurance sales, and effects of NY limitations on commissions and developments in agency earnings that could lead to modifications in the agency system.

Description: From the 1986 Valuation Actuary Symposium, held in Washington DC in October 1986 Discussion of the process for setting assumptions for cash flow testing of interest sensitive products for reserve valuation analysis under statutory accounting in the USA and Canadian GAAP.

Description: A listing of the 2016 modeling-related sessions and webcasts from the SOA. Most meeting session recordings are available for free to SOA members.

Description: Presented at June 1996 Spring Meeting. This discussion looks at redirecting the traditional role of the actuary into new areas such as working with doctors to deal with medical management issues, dealing and negotiating with providers and how to help the company develop a provider payment strategy. Employers negotiating directly with providers is also discussed.

Description: Discusses cost-benefit decision-making for acquiring electronic data-processing equipment and installation issues, ability of small companies to compete in pension trust arena, effectiveness of various agency compensation programs in stimulating sales and improving persistency, success of sales to substandard risks and rating methods, and pricing, reinsurance and experience with individual hospital and medical policies.