Description: This article delves into a new line of statistical thinking of the author, that may be useful for product development actuaries. The key concept is how product design can produce products that diversify quickly, meaning that the company can be confident of a profitable product line, based on fewer sales than might be true for other designs.

Description: SOA Product Development Section Contest Winning Article. Contest was to provide a creative article on future technology for the life insurance industry.

Description: InsurTech is commonly described as the providing insurance protection and services through new technology innovations, often with a goal of producing savings and efficiency from the traditional insurance industry model. InsurTech is a seen as a growing place where the actuarial profession provides expertise and services.

Description: The Society of Actuaries Research Institute commissioned this study to highlight the leading emerging technologies that may significantly affect the actuarial profession over a three-year horizon. This study will act as a guide and a resource for actuaries or potential employers to identify the prospective tools to enhance or expand actuarial work, for people collaborating with actuaries who may be affected by these technologies, and for leaders looking to enable teams employing actuaries through the introduction of these tools. It’s noted that actuaries should embrace technologies that enhance the remote working experience within their internal teams and across departments by investigating functionalities beyond messaging and video calls. Actuarial organizations and employers should examine technologies where there is a wide range or gap in maturity and familiarity and evaluate whether a knowledge gap exists and whether any gap is due to lack of education and training.

Description: Article from The Actuary, January 1971 – volume 5 - Issue 1 is a list of some of the sources of information that may be useful to an actuary who wishes to increase his or her knowledge of data processing.

Description: This is a summary of the biography of Charles Babbage, 1791-1871, much of whose life was devoted to inventing and constructing machines to free actuaries and other sufferers from the drudgery of repetitive arithmetic.

Description: Everyone loves efficiency. But what does it truly mean for something to be efficient? An actuary who has spent almost 20 years managing process improvements shares his experiences and the evolution of his views on efficiency. This parable highlights the broader aspects of efficiency that are often missed, and some of the challenges that can come from targeting a typical view of efficiency.

Description: Producing a crystal-clear balance roll-forward on time, obtaining a fresh model output the first time or providing model results for your business partners with a tight turnaround all depend on one thing: how fast the model engine runs. Authors explored various reasons behind significant computational power consumption, and discussed different ways to speed the computational process such as in-force population compression, model use case consolidation, code simplification and streamlining, and infrastructure automation, etc.

Description: In this article, we talk to Lei Rao-Knight, FSA, Vice President and Actuary at Prudential Financial. Lei discusses her model development experience in the Modeling Center of Excellence.

Description: Medicare Advantage Organizations must consider influences both internal and external to the adjudication process as they review and use data for bid preparation