Description: Innovation has become a fashionable concept, but what does it really mean? Are the concepts of innovation and invention synonyms? Is innovation a good thing? If so, why so many oppose it? If we want to become innovators, what considerations should be kept in mind? Are there examples of innovative thought in the actuarial field? If so, can you think of some of them? If you want answers to these questions please read Jay Jaffe’s article, Becoming a More Effective Innovator. Innovation is a big idea in the business education, so much so that many MBA programs are including courses on the subject, so much so that, as we know, our Section is called Entrepreneurial & Innovation.

Description: This is a letter to Professor Ralph Garfield in response to his contribution to the 1978.1 issue of ARCH. It answered his question concerning the non-applicability of an identity.

Description: Fun look at life outside of the actuarial profession

Description: Discussing impacts of innovation on the actuarial industry.

Description: This article explores the development of the annuity market in the UK over the past 20 years. It examines the explosive growth achieved by the enhanced annuity market and delves into the kinds of customers attracted by these products and the kinds of enhancements typically presented. It also explores the impact of government policy changes which have lead to annuity volumes declining and 'drawdown' product becoming more popular.

Description: This was a presentation of ACO efforts around the U.S. with great website links to resources, geared to actuarial consultants for employers. From May 2012.

Description: Conversation with a Past-President of the SOA.

Description: Continuation of article from previous issue. This article illustrates the practical and financial implications of applying nested stochastic techniques to a sample product.