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: This paper examines the Australian actuarial qualification process from the perspective of what makes a good education system, and notes that there are a number of constraints imposed by the profession that impair the quality of students’ learning outcomes. The paper goes on to suggest how these pitfalls might be avoided in the interests of providing future actuaries with an opportunity to develop the attributes they will need for their professional careers. From Actuarial Research Clearing House, 2006.

Description: This short note discusses creativity in the context of actuarial science, and how to cultivate it. We first attempt to define creative thinking as opposed to procedural thinking or memory recall. We then describe concrete examples of actuarial projects that promote deeper thinking. We also address why creativity is needed and how to make sure our students are able to communicate their creative ideas effectively.

Description: 1994 SOA Spring Meeting, Orlando. This session is about identifying international opportunities, positioning yourself for those opportunities, determining skills needed, and comparing with skills you have.

Description: In this article the author discusses the many hats an actuary wears and how risk management comes to play in each one. The roles discussed: 1. Pricing actuary. 2. Catastrophe modeling actuary. 3. Ceding reinsurance actuary. 4. Corporate actuary. 5. Loss reserving actuary. 6. Predictive modeling actuary. 7. Marketing actuary. 8. Underwriting actuary. 9. Investment actuary.

Description: Read the January 2020 issue of International News published by the International Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article reflects on the decision on creating NAAJ to replace the Transactions. The NAAJ, published quarterly for more timely information, is being marketed aggressively internationally within the academic community and to allied professions.

Description: Recently, actuaries have become more involved in formulary decisions due to high and variable pharmacy cost and utilization trends. How can actuaries and pharmaceutical manufacturers work together to better predict the market while covering key drugs? What discussions are currently taking place between manufacturers and payers? Is there value in these discussions that actuaries are missing? This presentation will provide both actuarial and manufacturer perspectives in order to create a mutual understanding that will begin to direct future conversations to benefit both stakeholders.

Description: The October/November 2013 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: Short insights on different innovation and entrepreneurial topics. These come from the Entrepreneurial & Innovation Section's e-bulletin, Innovation Insights.