Description: Update on recent and in-process activities of the SOA Board of Directors

Description: July 2018 issue of The Stepping Stone by Leadership & Development Section. practical information for actuaries, trends that impact section, section activities

Description: Increasing uncertainties and volatility in financial as well as real goods markets increasingly reveal that controlling systems based on deterministic and pseudo-exact values are insufficiently eligible to manage the business activities. This raises the question how management systems can be modified to generate the adequate management impulses in volatile periods. Risk management deals from identifying, evaluating and aggregating chances and risks, which again determine the potential fluctuation range of relevant performance indicators. Everyday corporate life shows that risk management is considered important; but the corresponding processes to identify, evaluate and report chances and risks are seldom part of established decision criteria. This “paradox” lets assume that risks are managed in various differing and unsystematic ways. The combination of traditional controlling methods and risk management is not primarily a methodological challenge. The behavior of the whole organization, practiced over a long-year period, has to be transferred into a new corporate culture of transparent dealing with chances and risks. This paper describes the necessary change management process, which has to come along with necessary methodological modifications.

Description: In this essay, we focus on the “Prospective Solvency Assessment” aspect of the NAIC’s ORSA. This places a spotlight on an insurer’s strategic decision making from a risk and capital management perspective. It requires those in senior management to describe actions they would take to address possible adverse changes in their risk and solvency position, i.e., what they would do to reduce risk, increase capital, and/or adjust the business strategy. We contend that by applying a slightly broader scope than the specific requirements of the NAIC’s ORSA, insurers can develop this into a valuable process to support risk-based decision making. In this essay, we initially consider how to determine which metrics to include in such a process and then discuss some important business requirements and practical challenges for implementing a calculation approach to support it. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Provides a possible informational source for information on population dynamics that utilize new mathematical models using probability, statistics, differential equations, and other branches of mathematics.

Description: Risk and Rewards February 2014 Issue 63 Information Discovery and Knowledge Management: How Ebsco Can Help You Build Your Own Information Pyramid

Description: How the philosophy of Siddhartha (think, fast, and wait) applies to the business world today.

Description: In the process of getting credentialed, there are more important things than a passing score. Life is not about numbers but transferable behaviors.

Description: This article discusses the results of the elections for the SOA Product Development Section Council and introduces the individuals that will be new members of the council for 2014.

Description: Preview of the LTC section's sessions at the SOA Annual Meeting in October 2008, including claims management, litigation and public relations, preparing for PBA and stochastic modeling, pricing, research studies, and securitizations and reinsurance.