Description: Presented at October 1996 Annual Meeting. In this discussion, digital cash and its impact on society and financial institutions are examined and an update on annuity technology is provided.

Description: 1996 Valuation Actuary Symposium. In this teaching session on liability modeling, the panelists discussed the key aspects of identifying and gathering the data required to construct models, the model building process including objectives and considerations, and the modeling process from the standpoint of policyholder and company behaviors.