Description: Fraud is often a dynamic and challenging problem in credit card lending business. Supervised modeling/segmentation techniques are commonly used in fraud detection to distinguish risky transactions from non-risky transactions. However, these techniques frequently rely on identifying risky behavior at a global level. In this paper, along with the classical approach, a new technique has been studied to improve the behavioral fraud detection capability. The application of this proposed technique enables us to identify risky behavior at the account level.

Description: Presenters discuss the differences between patient treatment protocols and length-of-stay guidelines, and some of the issues that payers confronted as the protocols were implemented. From the Record of the Society of Actuaries, Vol. 24, No. 2.

Description: Panelists discuss employers' perspective of defining strategies to identify best-in-market opportunities. From the Record of the Society of Actuaries, Vol. 24, No. 1.

Description: This note is labeled actuarial because it deals extensively with the force of interest, a concept which is characteristically of concern to the actuarial community. The authors’ personal point of view is that we should modify the basic definition of the compound interest.

Description: John Shuttleworth explains why our exam syllabus needs updated and shares examples of inconsistencies in the material and actual financial economics. Edward Friend responds to this article.

Description: Panelists discuss the ongoing influence and long-term implications of the Health Insurance Portability and Accountability Act on the health insurance market in the U.S. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: Public DB plans have fatal designs such as basing benefits on a few years of earnings. Redesigning DB to be similar to SS will alleviate solvency challenges.

Description: The Behavioral Finance subgroup of the Health Section will be publishing a series of literature reviews in Health Watch. This is the first review of three in the series. The reviewed article describes an attempt to place an econometric value on consumers’ preferences between broad and narrow networks.

Description: The Health Section Council Chairperson looks back at a historic year for the health care industry, and what it means for health actuaries.

Description: Argues public plans should only hold bonds, on the basis of tax and finance arguments.