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Cost of Implementing a Principle-Based Framework for Determining Reserves and Capital Survey Results
Cost of Implementing a Principle-Based Framework for Determining Reserves and Capital ... calculations besides PBA, e.g., ALM duration studies, dynamic hedging analyses, and economic capital calculations ...- Authors: Gregory J Roemelt, Jason Kehrberg, Charles J Souza
- Date: Apr 2010
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods
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Analysis of Methods for Determining Margins for Uncertainty Under a Principle-Based Framework for Life Insurance and Annuity Products
.....................................75 5.5.5 Dynamic Assumptions on Policyholder Behavior.......... ... Society of Actuaries 27 Make the formula used for dynamic assumptions (such as lapse rates or guarantee utilizations ...- Authors: Larry Rubin, Xiaokai Shi, Nicholas Ranson
- Date: Mar 2009
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods
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Liability Modeling Concepts
Liability Modeling Concepts Panelists discuss the basics of modeling including: model ... selection, appropriate model granularity, static and dynamic model validation, efficient model refresh processes ...- Authors: Robert Welander, Jeffery Fitch, Uri Sobel
- Date: Jan 2005
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Modeling & Statistical Methods
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Applied Modeling Concepts—Product Guarantees
two sides to validation: static validation and dynamic validation. Static means you need to check that ... that the data model was reasonably accurate. Dynamic validation is looking at the projection and making ...- Authors: Dennis L Stanley, James Stoltzfus, Don Wilson
- Date: Jan 2005
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Annuities>Guaranteed living benefits; Modeling & Statistical Methods
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General 'Modeling' Techniques
statutory versus GAAP accounting • Static and dynamic model validation techniques • Data integrity ... modeling;Assumptions;Audits;Deterministic models;Dynamic simulation models;Lapse rates=Lapses;Marketing ...- Authors: Michael Harris, Duncan Briggs, REBECCA LYNN BURTON
- Date: Nov 2001
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Modeling & Statistical Methods
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Complex Liability Modeling Issues
by these products • Selecting realistic dynamic assumptions • Techniques used in modeling ... communicate risks Antiselection;Deferred annuities;Dynamic simulation models;Equity-indexed annuities;Financial ...- Authors: Application Administrator, Thomas J Mitchell, John M O'Sullivan, Joseph M Rafson
- Date: Nov 2001
- Competency: Communication; External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Annuities>Pricing - Annuities; Annuities>Reserves - Annuities; Annuities>Variable annuities; Finance & Investments>Asset liability management; Modeling & Statistical Methods
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General Modeling Techniques
platforms • Model structure • Static and dynamic model validation techniques • Data integrity ... testing;Deterministic models;Disability insurance;Dynamic simulation models;Equity-indexed annuities;Generally ...- Authors: Robert G Meilander, Brian S Reid, Kevin Brimmer, Kitty Ching, Steeve Jean, Keith E Floman
- Date: Sep 2000
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Financial Reporting & Accounting; Modeling & Statistical Methods; Technology & Applications>Software
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Complex Liability Modeling Issues
when we set up a model. Then we also have other dynamic information, such as commissions, expenses, and ... having to see if it makes sense. Everything about dynamic validation won’t make sense. That’s because these ...- Authors: Kenneth Bonvallet, Mike Dorsel, Katharine Young, Douglas Robbins
- Date: Sep 2000
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Annuities>Pricing - Annuities; Finance & Investments>Asset liability management; Financial Reporting & Accounting; Modeling & Statistical Methods
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Financial Modeling Integration
Financial Modeling Integration From a session at a meeting of the Society of Actuaries held ... tax laws, or policyholder behavior, dynamic lapses, and dynamic elections are going to be, then you bump ...- Authors: Josephine Marks, Russell Osborn, Craig Merrill, S Michael McLaughlin
- Date: Jun 2000
- Competency: External Forces & Industry Knowledge>Actuarial theory in business context; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Modeling & Statistical Methods
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Fuzzy Logic
Fuzzy Logic From a session at a meeting of the Society of Actuaries held in Las Vegas, ... cognitive map. It actually began as an exercise in dynamic systems by Bart Kosko. It was an effort to analyze ...- Authors: Timothy Swankey, Richard A Derrig, Fred A Watkins
- Date: May 2000
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Annuities>Pricing - Annuities; Life Insurance>Pricing - Life Insurance; Modeling & Statistical Methods
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Technology and the Actuarial Pricing Model - What Comes Next?
types of scenarios and conditions. We need more dynamic strategies, things that will simulate more proactive ... the calibration of models will come from more dynamic feedback from the systems that have been used to ...- Authors: Shane A Chalke, Thomas W Reese, Irwin T Vanderhoof, Douglas A George, Mark C Abbott
- Date: May 1996
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Annuities>Pricing - Annuities; Life Insurance>Pricing - Life Insurance; Modeling & Statistical Methods; Technology & Applications>Software
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Liability Modeling I – Annuity Products
policyholder behavior first, which includes dynamic lapse rates, dynamic premium withdrawals and policy loans ... flow, withdrawal loans, and some of the other dynamic assumptions. TABLE 2 Lapse Model Development ...- Authors: Greg Mateja, Michael J Murphy, Meredith Ratajczak
- Date: Jan 1996
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Modeling & Statistical Methods
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Intervention Effects Among a Collection of Risks
the relationship among the parameters of the dynamic equations are made ex- plicit, as are the actuarial ... a collection of risks can be calculated under dynamic situations by determining the value of f` over ...- Authors: H Tolley, Kenneth G Manton
- Date: Oct 1991
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Transactions of the SOA
- Topics: Experience Studies & Data>Morbidity; Experience Studies & Data>Mortality; Modeling & Statistical Methods; Modeling & Statistical Methods>Markov Chain
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Making Valuations Using Cash Flow Analysis
Making ... good and suf f i c ient reserves is t ru ly a dynamic one, and we undoubtedly sti l l have much ... l iabi l i t ies. Durat ion match ing is a dynamic s t ra tegy , espec ia l ly if in teres t ...- Authors: Joseph J Buff, Michael E Mateja, Michael R Tuohy
- Date: Oct 1986
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Finance & Investments>Asset liability management; Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods
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Cash Flow Analysis: A New Approach to Understand and Manage Risk
Cash Flow Analysis: A New Approach to Understand and Manage Risk From the 1985 Valuation Actuary Symposium ... averaged just 3 to 4 percent . TABLE 3-19 DYNAMIC VALUATION LAW I = .03 + W(Rl- .03) + w/Z(R2- ...- Authors: James A Geyer, Michael E Mateja
- Date: Jan 1985
- Competency: Technical Skills & Analytical Problem Solving>Incorporate risk management; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Topics: Finance & Investments>Asset liability management; Financial Reporting & Accounting>Statutory accounting; Modeling & Statistical Methods
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Possible Values vs. Expected Values
Possible Values vs. Expected Values An increasing need exists for the actuary to provide ... an account with National C S S. SOFASIM is a dynamic, integrated model. The overall view of a life insurance ...- Authors: James C Hickman, Application Administrator, R Stephen Radcliffe, Irwin T Vanderhoof, John C Wooddy
- Date: Oct 1981
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Record of the Society of Actuaries
- Topics: Modeling & Statistical Methods
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Recursive Definitions of Actuarial Functions
of the recursive approach is that it permits a "dynamic" definition of the problem. One can proceed from ... Donald. While this problem does not have the "dynamic" 56 RECURSIVE DEFINITIONS OF ACTUARIAL FUNCTIONS ...- Authors: Stephen G Kellison, Quintin J Maltby, Lester R McCracken, Thomas P Tierney, Application Administrator, Edward J Seligman, Thomas N E Greville
- Date: Jan 1975
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Transactions of the SOA
- Topics: Modeling & Statistical Methods
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On Calculating Delta-Ized Reserves - Actuarial Note
On Calculating Delta-Ized Reserves - Actuarial Note The actuarial profession is faced with ... flexible manner. Discount rates=Interest rates;Dynamic simulation models;Monte Carlo simulation;Statistical ...- Authors: William A Bailey, Cecil J Nesbitt, David G Halmstad
- Date: Oct 1974
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Transactions of the SOA
- Topics: Financial Reporting & Accounting; Financial Reporting & Accounting>Generally Accepted Accounting Principles [GAAP]; Modeling & Statistical Methods; Modeling & Statistical Methods>Markov Chain
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A New Collective Risk Model
A New Collective Risk Model In this paper, a mathematical model is constructed to study the deviations ... readers follows Discount rates=Interest rates;Dynamic simulation models;Inflation;Risk measurement;Risk ...- Authors: John A Beekman, Ethan Stroh, Richard W Ziock
- Date: Oct 1973
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Transactions of the SOA
- Topics: Modeling & Statistical Methods; Modeling & Statistical Methods>Stochastic models
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Computer Models and Simulation
particular interest. In long-range planning, a dynamic model of a sys- tem that can be manipulated on ... mathematical model describing the be- havior of a dynamic multiprocess firm operating under uncertainty, ...- Authors: Michael C Altschuler, Thomas P Bowles, Russell M Collins, John H Cook, Abraham Hazelcorn, Anthony J Houghton, Burton Jay, James Lee Lewis, Joseph P McAllister, Cecil J Nesbitt, William F Sutton, Robin B Welch, Eli A Zubay, Owen A. Reed, Harry D. Garber, Charles L. Trowbridge, David G Halmstad, John W Lincoln
- Date: Apr 1969
- Competency: Strategic Insight and Integration>Strategy development; Technical Skills & Analytical Problem Solving; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Transactions of the SOA
- Topics: Modeling & Statistical Methods; Technology & Applications
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Actuarial Application of the Monte Carlo Technique
Actuarial Application of the Monte Carlo Technique The purpose of this paper is to describe ... development of techniques such as linear programming, dynamic programming, Monte Carlo ex- periments, and many ...- Authors: Russell M Collins, James C Hickman, Donald A Jones, Nathan F Jones, Robert C Tookey
- Date: Oct 1962
- Competency: Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Transactions of the SOA
- Topics: Life Insurance>Pricing - Life Insurance; Modeling & Statistical Methods
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Salary Scales
Increase Ratio method, which may be termed the dynamic or cohort method. Under completely static economic ... case currently or in recent years because of the dynamic economic conditions. Three basic elements are intertwined ...- Authors: Kenneth Altman, Samuel Eckler, Ralph E Edwards, Raymond B Krieger, Robert J Myers, Walter Riese, Conrad Siegel, John B Stearns, Geoffrey N Calvert, William F Marples
- Date: Apr 1962
- Competency: External Forces & Industry Knowledge>Actuarial methods in business operations; Technical Skills & Analytical Problem Solving>Process and technique refinement
- Publication Name: Transactions of the SOA
- Topics: Experience Studies & Data; Modeling & Statistical Methods; Pensions & Retirement>Assumptions and methods; Pensions & Retirement>Corporate plans; Pensions & Retirement>Defined benefit plans; Pensions & Retirement>Multi-employer plans; Pensions & Retirement>Public sector plans