Description: 1998 Valuation Actuary Symposium. The panelists addressed the practical implications of how to use value-at-risk in a real-life setting, risk-based surplus, and an update of the C-3 component of RBC. This session is a mix between the regulatory situation and quantitative analysis.

Description: The net premium for insurance for expected loss in excess of a retention limit may be small, but the resulting variance of excess losses produces a standard deviation several times that of the premium. The purpose of this paper is to give a derivation and evaluation of the standard deviation of the excess losses.

Description: Authored by a MIB Solutions team of Tom Rhodes, Stuart Klugman, Marianne Purushotham and Stacy Gill, the report summarizes the results of a study on the application and adoption of credibility theory within the life insurance and annuity industry. In addition to the report, numerical examples related to the application of credibility to company mortality and lapse data are provided in the four Excel files. This excel spreadsheet is a numerical example relating to the application of Credibility for lapses by policy for limited fluctuation. Please see the SOA website research section for the full report on Credibility Theory Practices.

Description: Claims are insurers deepest and richest transactional data – yet we rarely unleash the full potential of this data. In this session, we will discuss potential sources and attributes of claims data, traditional approaches alongside new analytic techniques and how to integrate models into existing claims management processes. During this session, the presenters will discuss different areas of how machine learning can drive significant value unleashing the potential in claims data, these include data capture, claims management and workflow design as well as behaviour prediction. In addition, the audiences will also have opportunity to learn different use cases of how claims models taking advantage of machine learning, such as foreign death fraud detection and critical illness triage.

Description: Asset cash flow modeling and asset assumptions are growing in importance with PBR especially considering the low interest rate environment. The Academy’s Life Practice Council and Life Valuation Committee have formed a Low Interest Rate Asset Adequacy Testing Task Force which has conducted an industry survey to raise awareness and summarize the actuarial best practices for financial reporting actuaries practicing in today’s very low interest rate environment. As the scrutiny on the asset side ratchets up, actuaries must consider how best to develop the asset assumptions as well as model the reinvestment and disinvestment strategies. Coherent assumptions and modeling practices across modeling exercises are expected while respecting the purpose of each calculation.

Description: 1994 SOA meeting, Orlando. This session is about the committee's dynamic solvency handbook and their progress to date. Topics discussed: 1. Should this report be a required opinion/report? 2. Should it be an internal confidential analysis? 3. What are the actuary's role and responsibilities?

Description: This paper shows the mortality element can be partially isolated allowing an exact annuity value to be readily obtained at any interest rate. From the Actuarial Research Clearing House 1979, Vol.2.

Description: Abstracts of various papers published in ARCH 1983 Vol. 1

Description: Discusses the Canadian Institute of Actuaries' disability morbidity study to update the 1964 CDT and explains the techniques used to interpolate incidence rates from the 1964 CDT.

Description: In this paper, a general multivariate duration analysis is introduced that does not depend on a mathematical formulation of the way in which a yield curve moves. Consequently, complete price sensitivity information is derived which is equally applicable in all yield curve environments. In addition, this model is practical and relatively easy to apply. From the Actuarial Research Clearing House ARCH 1989 Vol. 2.