Description: Data science, predictive analytics and AI are certainly the buzzwords these days. They are heavily used and developed in underwriting and marketing but for most actuaries, they might/may as well be science fiction. The presenters will demonstrate how a normal actuary can utilize data science techniques in their daily job function without forming an official data science team within a company. It can be done in a gradual fashion so that normal business is not disrupted and improvements are made over time. The usage of data science techniques will include demonstrations of the following areas: - Regression analysis - Economic scenario generator - Experience study - Data quality checks - Inforce compression for explicit hedging

Description: This paper describes risk-factor-dependent multiple decrements and actuarial cost functions as a general compartment model, a discrete time and discrete state stochastic model of morbidity and mortality processes. For large numbers of risk factors, the model is extended to its natural continuous time and state form. From Transactions of Society of Actuaries 1991, Vol. 43.

Description: Panel discussion of alternative approaches to the design of reserve standards, to include those topics discussed in several recent papers and committee reports.

Description: In this paper population mortality rates are used to explore the question of whether a biologically determined maximum age actually exists for the human species. From Actuarial Research Clearing House 1993, VOL. 3.

Description: In an increasing population the number of persons falls off from age to age more rapidly than does the stationary population of the life table. This can introduce a systematic bias into life table calculations. The first part of the paper describes an iterative procedure to correct for the bias, extends the method to multiple decrement and associated single decrement life tables, and demonstrates the magnitude of the bias involved. The second part of the paper summarizes the results of applying iterative life table techniques to 165 populations which encompass over a century's experience and include countries from all parts of the world. Followed by discussions submitted by several people

Description: For actuaries interested in term life insurance, add this webcast to your calendar. Our panel of experts will discuss term life insurance from the following perspectives: Pricing Product development Reserving Risk management They will also discuss exploring data visualizations using Tableau.

Description: This presentation is a concurrent session from the 1980 Annual Meeting of the Society of Actuaries, held October 20-22 in Montreal. This session was arranged by the American Statistical Association, ‘ASA,’ and the five panelists are biostatisticians, the moderator being the sole actuary. It is the result of efforts by the ASA and SOA to work together and provide sessions at each other’s meetings. The panelists discuss specialized techniques developed for making greater use of noninsurance studies such as medical follow-ups and clinical trial analyses, which may, because of their nature, involve relatively small groups, and compare them with the more traditional actuarial methodology. Discussion from participants is included. From the Record of Society of Actuaries, Volume 6, No. 4.

Description: Data is at the core of the actuaries' role within companies, but how can actuaries translate data insights into informed and actionable decision making? The key is communicating data insights into a language that transcends analysis and enables real-time decisions that can provide an advantage to your management team. Learn an approach to choosing a tool or medium for your data insights, questions to ask yourself to better understand the communication necessary, and perspectives on how actuaries can take a larger role in actionable decisions within the industry. Understand availability, quality, and practical application of data sources health actuaries can access easily, how that data looks, approaches to transforming data into decisions, how it enriches administrative and claims data, and applications to pricing and reserving. Finally, discuss implications of ASOP 23, ASOP 41, and ASOP 56 as it relates to this topic. By attending this session, you will be able to: - Create an action plan on how to transform data into messaging for your leaders. - Use real experiences to formulate a strategy to expand the actuaries' role in informing decisions within the industry, including examples, to illustrate how data can benefit financials of health coverages. - Understand the application of ASOP 23 (Data), ASOP 41 (Communication), and ASOP 56 (Modeling) as it relates to turning data into decisions. - Be knowledgeable about new sources of morbidity for medical care and LTC and how to acquire and apply this information in actuarial models.

Description: The SOA, with SCOR as the researcher, completed an experience study of post-level term (PLT) lapse and mortality. In the first part of this session, the presenters will cover the key findings of the traditional analysis regarding the shock lapse, the PLT lapse and mortality experience. The remainder of the session will focus on the results of the predictive modeling, which will provide further insights into policyholder behavior in the post-level term period.

Description: This paper is from Transactions of Society of Actuaries 1955 Volume 7, Number 17. The author notes that in mortality studies the ‘natural’ unit for exposures and deaths is number of lives, but often more insight is gained by use of other weights, such as face amount. In this paper, the author develops a method which, ‘by a combination of exposed to risk formulas, provides a comparatively simple procedure to permit consideration of weights which vary during the observation period.’