Description: background history of the insurance industry and the role of actuaries within it, followed by the current environment and anticipated future environment.

Description: The author summarizes the content of a seminar entitled “Integrated Approaches to Risk Management in the Financial Services Industry,” including a description of the papers presented.

Description: This article deals with enterprise risk management and how the techniques contained within the discipline can help prevent unforeseen large mistakes in strategy, product design, and product management

Description: Editorial for the October/November 2012 edition of The Actuary magazine discussing risk and uncertainty as two different concerns.

Description: An exploration of risk management challenges in the Middle East, including historical overcapitalization, inadequate data and governance issues.

Description: Most reasonable risk mitigation strategies provide benefit in some circumstances, but come at a cost that adversely affects results in other scenarios. A research paper by the authors considers the view of multiple stakeholders to answer this question, resulting in a process they call Trifurcation.

Description: The article has formulas for calculating the geometric return of a portfolio using the arithmetic return and the variance

Description: A framework to measure and evaluate the risk-adjusted investment performance given the characteristics of the insurance liability.

Description: Recent advances in mortality modeling have enabled applicant-specific quantification of mortality risk in life insurance applicants using laboratory and physical measurements. Relative to more conventional underwriting, this approach identifies a small population of significantly under-priced policy and a much larger, cross-subsidizing group whose risk is presently overestimated. Applicants placed in the highest percentile by this scoring methodology are more than 10X as likely to die in a given period as their demographic peers, and represent approximately 5% of short-term claims. Implications for product design are substantial in both the short- and long-term, as the possibilities for adverse selection grow, and the opportunity for fully individualized pricing raises the more distant prospect of products with as many rate classes as applicants.