Description: A discussion of the limitations of the use of spreadsheets versus formal programs in actuarial processes. including limited documentation, inability to incorporate new features without significant coding and subtle bugs that may appear.

Description: This report summarizes the key findings and data points from the selected articles. Included for each article are the report’s abstract along with any empirical data available from the study that can help support an actuarial model that identifies the relationship between lifestyle behaviors, health risk conditions and health outcomes.

Description: Summary of methods and standards to use to achieve an efficient, maintainable model

Description: Report on the EuSpRIG Annual Meeting last July in Paris, which focused on modeling.

Description: While Model Efficiency and Model Governance may seem like completely separate topics, there is an intersection of them that should be of growing interest to modeling actuaries. This column from the Modeling Section Chair explores this area, asking how we will govern the increasing use of innovative modeling efficiency techniques.

Description: Feature article discussing what American actuaries can learn from their European counterparts about actuarial modeling.

Description: This presentation discusses a technique to reduce the bias from using Monte Carlo simulation to value American options.

Description: The article explores impact of resetting cap vs static cap choice for the GLWB rider for a Fixed Index Annuity for a Point to Point. Moreover, analysis of a Monthly Sum Cap is provided showing impacts of particular choices of market models (e.g. Black, Heston, Bates) used to price this deal.

Description: In this, the second step, Sibson engaged the vendor and actuarial communities to solicit input on the actuarial model for determining the impact of various environmental, lifestyle and behavioral risk factors. The goal was to understand the extent to which actuaries currently use models around wellness, refine the above conceptual model, and better understand the potential uses of, and value to, the actuarial and vendor communities that would use such a model. We sought to understand the potential applications and sources of data for the actuarial model. We gathered input on how the model would best suit the professional needs and help shape the future role of the actuary. Lastly, we gathered feedback on the above conceptual model.

Description: This dissertation by Tia Sawhney will help you understand this issue and start measuring it, or start promoting equitable public policy.