Description: The Society of Actuaries Research Institute commissioned this study to highlight the leading emerging technologies that may significantly affect the actuarial profession over a three-year horizon. This study will act as a guide and a resource for actuaries or potential employers to identify the prospective tools to enhance or expand actuarial work, for people collaborating with actuaries who may be affected by these technologies, and for leaders looking to enable teams employing actuaries through the introduction of these tools. It’s noted that actuaries should embrace technologies that enhance the remote working experience within their internal teams and across departments by investigating functionalities beyond messaging and video calls. Actuarial organizations and employers should examine technologies where there is a wide range or gap in maturity and familiarity and evaluate whether a knowledge gap exists and whether any gap is due to lack of education and training.

Description: Actuarial modeling has gone through several distinct phases largely defined by the underlying technology platform. Today, cloud computing is again redefining the technology foundations of actuarial modeling and related processes.

Description: The attached report presents the results of a survey whose purpose was to explore the various uses of technology by life insurance companies. The survey was conducted by the Technology Survey Subcommittee of the Society of Actuaries Life Insurance Mortality and Underwriting Survey Committee. The primary focus of this survey was the impact of technology on mortality studies and underwriting.

Description: This paper explores how molecular biology, specifically epigenetics, may impact the life insurance industry, and considers the effects of utilizing epigenetic biomarkers for underwriting.

Description: View the Zero-Knowledge Proofs: Emerging Opportunities for the Insurance Industry research report.

Description: View the Data Challenges in Building a Facial Recognition Model and How to Mitigate Them

Description: The Society of Actuaries (SOA) sought to investigate methodologies and characteristics associated with actuarial innovation, aiming to expand the industry’s capabilities for creativity. The SOA engaged Milliman to conduct in-depth interviews and focus groups with select actuaries who have demonstrated innovative skills, in order to derive key behaviors and characteristics that encourage innovation.

Description: Decentralized insurance alternatives is a rapidly expanding sector of Decentralized Finance (DeFi), an emerging and growing financial ecosystem powered by blockchain technologies. The purpose of this report is to review and discuss the business models and operating designs of decentralized insurance alternatives, which may have significant implications for traditional insurance businesses, as well as the actuarial profession.

Description: Machine learning algorithms fit models based on patterns identified in data and can be very complex. In this report, we describe and illustrate a range of methods for interpreting machine learning models from the growing field of Interpretable Machine Learning (IML).

Description: Electronic Health Records, or EHRs, are a major worldwide initiative to eliminate paper recordings – including Attending Physician Statements (APSs) – of an individual’s medical history and current treatment.