Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Teaching session covering the development of realistic liability models for use in asset adequacy analysis, asset/liability management, pricing/repricing, financial reporting or other corporate purposes. The primary focus is modeling issues for variable product features, such as minimum living or death benefit guarantees on both variable life and annuities, annuity death benefit enhancements, and variable immediate annuities. Topics include: • Analysis of the special risks posed by these products • Selecting realistic dynamic assumptions • Techniques used in modeling these products • Scenario testing and result presentation to best communicate risks

Description: This panel discussion was session number 3 at the 2004 Society of Actuaries Spring Meeting, held in San Antonio, TX June 14-15. The panelists explored the problems between actuaries and IT people, how neither either understands the other's perspective, with frustrating results for both sides. But the speakers feel that, “with some tolerance and understanding, both can profit from the other's approach.” A theme in the discussion was that better communication will improve understanding. From the Record of the Society of Actuaries, Volume 30, No. 2.