Description: In this article, we will describe EY’s five-pillar approach that balances practicality with comprehensiveness, and how this applies to LTC model validation.

Description: 1987 Valuation Actuary Handbook: Chapter 1: Addresses life insurance company statutory reserve valuation.

Description: Update of the activities being carried out by the Joint Risk Management Section

Description: Author asserts that actuaries are arguably better at analyzing and interpreting risk than any other professional. The exhaustive exams teach us how to manage risk, not eliminate it. If the profession is to continue to flourish, it will be vital to take this idea and apply it to one’s career too.

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: How King Price has developed behavioral economics, digitization and big data to become one of the fastest growing non-life insurance companies in South Africa.

Description: Discussion of how non actuaries are taking on many of the enterprise risk management roles of insurance companies. Discusses changes actuaries need to make to re-assert their roles. Also discusses roles actuaries can play in enterprise risk management outside of the insurance and pension industries

Description: Fact sheet that defines ERM, provides a brief history, discusses the role of the actuary in ERM and the importance of organizations implementing an ERM framework.

Description: Read the December 2016 issue of The Modeling Platform published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.