Description: This abstract describes a paper that investigates the extent of increasing the Social Security full retirement age in order to reduce the program’s funding deficit.

Description: This is the abstract of the research on the importance of dispersion modeling for claims reversing: application of the double GLM theory presented at the actuarial research conference.

Description: Operational risk is likely one of the most significant risks faced by an organization. This article defines operational risk and how a company or organization can effectively manage this risk, including types of management tools, metrics and measurement, and governance, risk, and compliance compliance (GRC) systems.

Description: View the 2019.1 Actuarial Research Conference Proceedings.

Description: This is the abstract of a paper that demonstrates how to apply a variety of property-liability insurance financial pricing techniques to a single hypothetical, but representative, company. Both company and economic parameters are varied in order to examine the sensitivity of indicated underwriting profit margins from these techniques to different company situations and economic environments, and to highlight the differences between the techniques at a practical level.

Description: An excerpt from the 2002 Annual report of the Boards of Trustees for the Federal Hospital Insurance and Federal supplementary Medical Insurance Trust Funds which describes the basic assumptions and methods used in the estimates under the intermediate assumptions. Also, presented are projections of program costs under two alternate sets if assumptions.

Description: This abstract explores three central questions as follows: 1) What is the current state of the ERM paradigm, including its boundaries and limitations, especially with regard to extreme events and emerging risk; 2) Is it possible to have a unified ERM "theory of everything", capable of explaining both smaller, localized events as well as trans-boundary risk and emerging risk; 3) Might it be the case that one set of laws applies to localized risk while another (separate and different) set of laws applies to macro-level risks such as extreme events and trans-boundary risk. This exploration is intended to foster dialogue and progression toward a more robust ERM construct.

Description: Reinsurance reduces the required capital of the primary insurer but increases that of the reinsurer. Capital is costly. All capital costs, including that of the insurer and the reinsurer, are ultimately borne by primary policyholders. Reducing the total capital of insurers and reinsurers brings down the total capital cost and the total primary policy premium. A reinsurance arrangement is considered optimal—if it minimizes the total required capital. This optimal reinsurance is an attracting equilibrium under price competition. Evidence suggests an inverse relationship between the total required capital and the correlation between the losses held by different insurers and reinsurers. Examples are constructed to examine this and other properties of the optimal reinsurance.

Description: Abstract: An introduction to the Goals-Progress-Strategy (GPS) strategic risk management framework: an original synthesis of scenario based ERM, the Logical Framework Approach, and new metrics and methods. GPS improves strategic planning and execution and enables practical management of the risks a company faces in pursuit of its business goals. The framework provides a portfolio view of a company’s strategic objectives, a return on risk-adjusted capital measure, risk-intelligent decision making, and risk-adjusted performance measurement/compensation.

Description: This abstract describes a paper that generalizes the Poisson process to a renewal process, especially Erlang (n) renewal processes.