Description: Why should actuaries care about non-quantitative considerations? We are the masters of accurate calculations, and our models should be based solely upon logic … right? Wrong! The touchy-feely holistic, irrational factors encountered so often in the real world, can wreak havoc upon a model that considers only rational logic. Our 2016 presidential election was a dramatic wake-up call to statisticians and actuaries that numbers alone are not always the determining factors in economic outcomes. Learn why this is true, and how you can adapt your models to better represent the real world, and gain competitive advantage.

Description: Strategic Risk Management was given lower priority in a recent survey of ERM Objectives. This article tells how the author believes that recent events have caused many to shift to a more short term focus and in the future there will be a shift back to a priority for the longer term view that stands behind Strategic Risk Management when the environment settles down and things again seem to be more predictable.