Description: This article describes the power of predictive modeling and its potential for the Life Insurance industry. It is already successfully used in the P&C industry.

Description: The following case study walks through the steps of a predictive modeling exercise to illustrate one way analytics can streamline the underwriting paradigm.

Description: This article ecourages actuaries to get up to date with the use of the internet as personal computing and electronic communications are changing the way we do business.

Description: The editorial explores opportunities for the actuarial profession that can be achieved through innovation.

Description: The author has gathered a variety of resources, general theories, and specific practices concerning spreadsheet errors and their avoidance.

Description: A summary of the risk that the use of spreadsheets pose, along with key controls to reduce the risk.

Description: Actuarial systems access and change controls are hot topics these days as modeling continues to increase in complexity and as new modeling regulations may begin to crest over the horizon. Many companies are currently in the process of either formalizing their actuarial system access and change control protocols, or are reevaluating and strengthening their existing control processes in response to identified deficiencies or in conjunction with new actuarial system implementations. With these undertakings in mind, this article discusses a number of valuable components commonly incorporated in formal systems access and change control protocols. Also discussed are leading practices identified in the SOA publication “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework (December 2012)”, and from the Institute and Faculty of Actuaries.

Description: Actuarial modelers need to engage and leverage IT expertise in the design, maintenance, and control of actuarial models.

Description: This article covers the American Academy of Actuaries’ “Model Governance Checklist” that was created in response to PBR regulatory model governance needs.