Description: A summary of Modeling Section-sponsored sessions at the 2016 Life/Annuity Symposium, covering model risk management, model governance, and model efficiency.

Description: In this paper, the author studies the ‘applications of the integer functions, ceiling and floor, to life contingencies. Various actuarial formulas are derived by applying a theorem of the mean value type for integrals and uniform distribution of deaths assumptions.’ Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1982 Volume 34.

Description: Introduction to academicians, practitioners, and gerontologists who comprise the Funding Longevity Task Force at the American College of Financial Services.

Description: Describes a process for identifying relevant industry experience to credibility-weight with relevant company experience to set modeling assumptions and margins.

Description: This paper reviews state and federal regulation of investment advisers as it applies to personal actuaries and advocates action steps.

Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.

Description: Third article in a series on how to use predictive analytics to improve the development of long-term care projection assumptions.

Description: Describes a process for identifying relevant industry experience to credibility-weight with relevant company experience to set modeling assumptions and margins.