Description: An introductory article for the June 2022 issue of the General Insurance Insights e-newsletter.

Description: On March 31, 2022, the SOA Research Institute assembled an expert panel to discuss key considerations related to climate risk analysis applied to life and health insurance companies. The panelists were selected to represent a wide and diverse array of opinions, and were encouraged to contribute from their own, individual perspective working in areas such as insurance, reinsurance, state regulation, consultancy, meteorology, and climate finance. A summary of the main discussion points is presented in this report.

Description: Burnout is impacting the business world now, and even prior to the pandemic. Burnout is a state in which motivation declines markedly, leading to stress, increased use of sick leave, potential illness and lowered work performance. To be effective people leaders, or to simply manage one’s own situation, it is important to gain insight into the symptoms of burnout, the causes, prevention and how to effectively deal with it. By attending this session, you will gain understanding of employee burnout, how to help yourself and your team members effectively deal with it, and how to refresh.

Description: Carlos Arocha, the 2022 Chair of the International Section Council, introduces the articles featured in the current newsletter issue. In addition, he highlights recent and planned activities undertaken by the section.

Description: This book explores diplomatic strategy in an historical context. Many of the lessons in the book are useful to business decision-makers.

Description: This is a conversation with two critical staff members of the Society of Actuaries (SOA) about their experience there. Jane Lesch is a non-actuary who has been working at the SOA for over 20 years, and is an engagement specialist. Mike Boot is an actuary who retired at the end of February after 15 years at the SOA, most recently as managing director. We spoke to both Jane and Mike to get their take on what leadership is about, and how working at the SOA impacted them.

Description: Wright State University is a public research university in Dayton, Ohio, with approximately 11,000 students. With the lowest tuition fees in Ohio, the university has an access mission and plays a critical role in the region by offering high-quality, affordable education. I joined Wright State University in fall 2019 as the director of the Actuarial Science program. In spring 2020 we attained the Universities and Colleges with Actuarial Programs (UCAP)-AC designation from the Society of Actuaries (SOA), becoming one of only three universities in southwest Ohio at this recognition tier. In this article, I would like to tell you about the journey our program has taken—its successes and its challenges. The goal is to offer a resource to other universities seeking to upgrade their Actuarial Science programs.

Description: In this fifth issue of International News of 2022, we feature the following contributions: (1) Ruben John John Callo, FSA, FIAA, FLMI, and the SOA’s Ambassador to Australia under the Ambassador Program , presents an illustrative study aimed at helping consumers choose life insurance products using the “customer value per dollar” methodology, and although examples included relate to the Australian market, the methodological principles can be adopted in other markets; (2) Shirley Z. Song, FSA, MAAA, Member of the International Section Council, Josh Dobiac, MS,CAIA, and Yang Jing, deal with the Targeted Improvements to the Accounting of Long-Duration Contracts (LTDI), and the fact that both IFRS and US GAAP frameworks are evolving into a new financial reporting framework. The implications for US insurers are discussed.

Description: Covering is a strategy through which an individual downplays a stigmatized identity. It can take place in four common ways:

Description: Many start-up companies have certain elements in common: Most are still developing a profitable, working business model, there is little to no hierarchy or management structure, and everyone is in it together. A typical challenge is an ability to retain and/or attract strong leaders due to lack of resources needed to compete in the higher compensated talent markets. This article introduces The Equity Bonus Plan, which can help entrepreneurs attract and retain talent.