Description: 2021 Life Meeting - Session 5C: Assumption Setting in an Uncertain World 8.31.21 Recording

Description: Data science, predictive analytics and AI are certainly the buzzwords these days. They are heavily used and developed in underwriting and marketing but for most actuaries, they might/may as well be science fiction. The presenters will demonstrate how a normal actuary can utilize data science techniques in their daily job function without forming an official data science team within a company. It can be done in a gradual fashion so that normal business is not disrupted and improvements are made over time. The usage of data science techniques will include demonstrations of the following areas: - Regression analysis - Economic scenario generator - Experience study - Data quality checks - Inforce compression for explicit hedging

Description: The famous 80/20 rule in data science states that only 20% of your time working with data is spent driving insightful business analytics. The rest of your time is spent trying to query, clean and organize your data. Even with this knowledge, the majority of actuarial training/focus is on the 20 percent. This session takes a different approach, focusing solely on speeding up your work on the other 80 percent. Practical examples will be part of a code walkthrough in R.

Description: In 2020 the Actuarial Innovation and Technology Steering Committee held a data visualization contest. Entries showed a variety of strengths including smart use of tools, user-friendly dashboards, and displays paired with actuarial analysis that can lead an end-user through a process of discovery. In this webcast a data visualization expert will review the winning entries with the contestants. We'll discuss how the different strengths of these entries can be combined to create a powerful tool for communication and understanding.

Description: The key tasks of credit risk capital project under CROSS II mainly focus onL(1 )Adjustment of measurement framework; (2) Calibration of risk factors, including both credit spread risk and credit default risk;3)Introduction of concentration risk measurement; (4) Higher requirement on look-through rule.

Description: Data is at the core of the actuaries' role within companies, but how can actuaries translate data insights into informed and actionable decision making? The key is communicating data insights into a language that transcends analysis and enables real-time decisions that can provide an advantage to your management team. Learn an approach to choosing a tool or medium for your data insights, questions to ask yourself to better understand the communication necessary, and perspectives on how actuaries can take a larger role in actionable decisions within the industry. Understand availability, quality, and practical application of data sources health actuaries can access easily, how that data looks, approaches to transforming data into decisions, how it enriches administrative and claims data, and applications to pricing and reserving. Finally, discuss implications of ASOP 23, ASOP 41, and ASOP 56 as it relates to this topic. By attending this session, you will be able to: - Create an action plan on how to transform data into messaging for your leaders. - Use real experiences to formulate a strategy to expand the actuaries' role in informing decisions within the industry, including examples, to illustrate how data can benefit financials of health coverages. - Understand the application of ASOP 23 (Data), ASOP 41 (Communication), and ASOP 56 (Modeling) as it relates to turning data into decisions. - Be knowledgeable about new sources of morbidity for medical care and LTC and how to acquire and apply this information in actuarial models.

Description: In September 2017, the China Insurance Regulatory Commission (CIRC) issued the “C-ROSS Phase II project construction plan”, planned to be used across three years’ time, by perfecting the regulations, improving the operational mechanism and strengthening the regulatory cooperation.

Description: Presented at May 2005 Spring Meeting. Panelists discuss the importance of actuarial research, how and what to do, researching the literature, statistical tests of significance, writing a research report and how to get published.

Description: This section contains reviews for the following books, Introduction to the Mathematics of Demography by Robert Brown, A Tale of Two Captains by John Baynes and Hugh Maclean, Abolitionist, Actuary, Atheist: Elizur Wright and the Reform Impulse by Lawrence Goodheart, The Federal Data Base Finder by Matthew Lesko and the Guardian Life Insurance Company, 1860-1920, A History of a German-American Enterprise by Anita Rapone. From Transactions of Society of Actuaries 1991, Vol. 43.

Description: a summary of the newsletter and a rundown of the table manager.