Description: Most actuarial explorations of increased longevity have, quite understandably, focused on its direct financial implications for things like health care costs, retirement systems, and social security or other public policy provisions. But future life extension has many other potential implications, both direct and indirect, for various socioeconomic factors, which in turn have the potential to affect the actuarial valuation of future risk contingencies. This paper examines a sampling of the socioeconomic issues emerging from the possibility of substantially increased longevity. Because of the complexity and interrelatedness of these issues, actuarial and risk modeling of this prospective environment could be a significant challenge.

Description: Most actuarial explorations of increased longevity have, quite understandably, focused on its direct financial implications for things like health care costs, retirement systems, and social security or other public policy provisions. But future life extension has many other potential implications, both direct and indirect, for various socioeconomic factors, which in turn have the potential to affect the actuarial valuation of future risk contingencies. This paper examines a sampling of the socioeconomic issues emerging from the possibility of substantially increased longevity. Because of the complexity and interrelatedness of these issues, actuarial and risk modeling of this prospective environment could be a significant challenge.

Description: This is the abstract of a paper about developing a model that will provide insight into the true inherent value of a property-liability insurance company from a market perspective.

Description: This paper represents a brief progress report on research, being sponsored by the Casualty Actuarial Society CAS and the Society of Actuaries SOA, in the area of modeling of economic series. In particular, research is being undertaken to provide a foundation for the actuarial community’s modeling of a variety of economic variables, including interest rates, equity returns, inflation, unemployment rates, and real estate price levels. The specific objectives of this research are to provide a summary of the literature in the area of economic scenario modeling, identify data sources and methodologies in this area useful to the actuarial profession, and produce working software for economic modeling, including appropriate documentation, to be made available to the general actuarial community in order to allow actuaries to use and build upon this research.

Description: This paper represents a brief progress report on research, being sponsored by the Casualty Actuarial Society and the Society of Actuaries, in the area of modeling of economic series. In particular, research is being undertaken to provide a foundation for the actuarial community’s modeling of a variety of economic variables, including interest rates, equity returns, inflation, unemployment rates, and real estate price levels. The specific objectives of this research are to provide a summary of the literature in the area of economic scenario modeling, identify data sources and methodologies in this area useful to the actuarial profession, and produce working software for economic modeling, including appropriate documentation, to be made available to the general actuarial community in order to allow actuaries to use and build upon this research. From Actuarial Research Clearing House 2004, Vol. 1.

Description: A program of undergraduate research in actuarial science and financial mathematics has been implemented at the University of Illinois over the last two years. This program has included two National Science Foundation-sponsored research Experiences for Undergraduates [in Summer 2007 and Summer 2009] on the topic 'Stochastic Modeling in Actuarial Science and Financial Mathematics,' as well as a variety of academic-year research projects undertaken by current actuarial science majors. This paper summarizes the program's evolving experiences in providing research opportunities to undergraduates, and highlights some of the topics and issues arising from these research experiences.

Description: This abstract describes a presentation that focuses on the mathematical underpinnings associated with the process of discounting future cash flows.

Description: Applies the economic concept of negative externality (where firms profit but create unacceptable social costs) to systemic of financial institutions. Identifies alternatives to the traditional (Pigou) response of taxing the firm.