Description: A discussion on how technology can modernize loss reserving approaches.

Description: Insurance regulations are undergoing a paradigm shift in determining capital and reserves. With Solvency II in Europe and principle-based reserving in the United States, the old formula-based static approach is being replaced or supplemented by a principle-based dynamic method. This change requires enhanced modeling, stochastic simulation and sensitivity analysis, which pose challenges to insurers whose infrastructure has not been built for big computation. This paper introduces a method of building complicated models with small reusable modules and running them on a many-task computing platform to achieve high performance with simplicity. The paper presents an example of a term life insurance model built to take advantage of computer hardware for parallel computing at the task level.

Description: This article introduces IT DevOps to actuaries and how it is applicable to them to improve their modeling efforts and make them more efficient.

Description: The purpose of this article is to provide an overview of soft computing applications in actuarial science. Soft computing refers to modes of computing in which precision is traded for tractability, robustness and ease of implementation.

Description: In January 1936, William Phillips, a London actuary, presented a paper to the Institute in which he recommended a methodology to allow life insurance companies to automate their actuarial calculations. This article discusses Phillps' work in this area.

Description: This article describes how to model variable annuities using a GPU along with some of the stumbling blocks.

Description: Comments on the article “Developing an Actuarial Programming Language” by Russell J. Mueller in the April newsletter in which it was suggested that “a study should be undertaken to determine the feasibility of developing” such a language. In this connection, the author feels it to be appropriate to draw attention to some practical considerations which should form part of such a study.

Description: This article explains why distributed computing systems have grown in popularity as well as the benefits and drawbacks of implementing them.

Description: A short introduction of the characteristics of Blockchain technology