Description: An interview with Weili Lu, the president of ARIA

Description: Stefanos Orfanos shares his perspective and priorities for this year as the incoming chair of the SOA Education and Research Section.

Description: The article discusses the continued popularity of indexed UL insurance and possible reasons why a company's actual indexed UL earnings may be below their original pricing expectations for the product. The article discusses several key items that may be the source of that underperformance (e.g., hedge ineffectiveness, policyholder behavior) and the need to monitor earnings and perform analyses to better understand those potential sources.

Description: This article delves into the transformative realm of Business Intelligence (BI) tools. We explore the fundamental functionality and structure of these tools, and through case studies illustrate how they offer valuable insights into carrier experience and underwriting dynamics. From real-time data visualization to in-depth data analysis, discover the essential features that empower businesses to make better informed decisions.

Description: This is a continuation of an article published for the speculative future contest in 2023. It mentions how the collapse of China would cause a global recession in 2029 due to the current and predicted geopolitical climate in 2023.

Description: 2023 Questionnaire for Daniel S. Pribe

Description: 2023 Board Member Candidate Page for

Description: 2023 Questionnaire for Dave Dillon

Description: 2023 Board Member Candidate Page for Han Henry Chen

Description: 2023 Questionnaire for Ying Zhao

Description: The cyber insurance market looks like it’s growing—rapidly, in fact. However, there’s more to the cyber insurance market than the outward appearance of strong growth. Worldwide aggregate premium’s upward trend may even be cause for alarm. The increase in premium against a flat rate of insured exposure is a key sign that the market could turn from growth to constriction if a solution isn’t found in the near future. If the cyber insurance sector hopes to reach such lofty goals as exceeding $30 billion in global premium by 2028, it’s going to need more capital. Whether directly into the insurance sector or via support from reinsurance and retrocession, fresh capital should help insurers achieve greater market penetration, build a broader foundation for ongoing expansion, and chart a course for long-term sustainable profitable growth. The same sources capital insurers have used since the early days of the market won’t be enough, though. Thankfully, the insurance linked securities (ILS) market seems poised to help, particularly with several promising recent transactions. New sources of capital could bolster the foundation for future cyber re/insurance growth.

Description: An overview of how the VM-31 requirements for documenting PBR approaches and assumptions can/should reflect the Actuarial Standard of Practice on Modeling, ASOP No. 56

Description: A look at the near future and far future of various elements of Actuarial Models as defined through ASOP 51. What is driving the complexity for inputs, calculations, and outputs. Howe will actuaries handle these challenge?

Description: ACA risk adjustment is intended to "bridge the gap" between allowed rates and actuarial rates. If risk adjustment methodology is not bridging that gap & becomes an additional input to pricing formulae, it is not serving its intended purpose.

Description: This is the second of a two-part article introducing and elaborating an “Adaptor” strategy for ERM. Such a strategy is intended to fulfil two purposes: first, switching among four styles of risk-coping strategies in order to track qualitative changes in a business’s risk environment; and, second, to support the business in navigating with resilience through all the seasons of a business-economic cycle, i.e., of boom, bust, moderate, uncertain. This latter requires careful study of the nature of resilience, the familiar idea of bounce back, and the less familiar idea of bounce forward. Part I of our article is underpinned therefore by a supplementary document (available from https://riskviews.wordpress.com/adaptor-exceptionalism/), which addresses the issue of structural change in a business or economy. It draws heavily on ideas taken from the discipline of control engineering, as well as some from ecology, social anthropology, and economics. The entire two-part article is thus an exercise in cross-disciplinary Systems Thinking.

Description: The paper demonstrates that the most popular rationalization for evolving glide paths is flawed and should be discarded. The paper also demonstrates that glide paths should generally evolve for investors that endeavor to optimize outcomes and reevaluate their portfolios regularly.

Description: The article describes the factors that should determine the asset allocation of an employer's QDIA, especially Target Date Funds, and suggests that in general QDIAs have insufficient equity in retirement asset allocations.

Description: In 2021, Deloitte and the SOA conducted a research study on emerging technologies in which the current use and future outlook of these technologies for the actuarial profession were evaluated.

Description: Family caregivers are a critical link in providing long-term services and supports (LTSS), but they have significant unmet needs. To better support family caregivers, Congress authorized the Recognize, Assist, Include, Support, & Engage (RAISE) Family Caregivers Act in 2018 and created the RAISE Family Caregiving Advisory Council. The Council identified recommendations to serve as the backbone of a national strategy to improve the physical, emotional and financial well-being of family caregivers. A new report, "Asking Directions: Mapping a Course to Support Family Caregivers," identifies specific actions across a variety of players for meeting the Council’s recommendations. It summarizes insights from a year’s worth of strategy sessions and interviews with representatives of over 100 organizations. The report brings together thoughts on best practices and the most critical action steps from national and state organizations, county health providers, the direct care workforce, large and small employers, aging and disability organizations, faith-based groups, respite care providers and more. This article summarizes the research methods and key findings of the report and the work conducted by the Leading Age LTSS Center @UMass Boston and Community Catalyst’s Center for Consumer Engagement in Health Innovation.

Description: In the United States, there has been much industry discussion of the challenges associated with a sustained low interest rate environment, which impacts both the asset and liability sides of the balance sheet in unfavorable ways. The intent of this article is not to focus on these strategic issues. Rather, we attempt to shine a spotlight on some of the modeling challenges that practicing actuaries may experience when incorporating negative interest rates into their models.

Description: This article summarizes key points from the recently published research paper “Deep Learning for Liability-Driven Investment,” which applies reinforcement learning and deep learning techniques to liability-driven investment (LDI).

Description: it discusses the framework and modeling of the market consistent valuation of fixed indexed annuity, against the backdrop of the convergence of accounting standards and internal risk management.

Description: In this article, a numerical comparison of two commonly used FIA valuation methodologies is conducted to help insurers decide on the best methodology to use under GAAP LDTI and VM-22. We compared two modeling approaches to project the future index credits with the annual point-to-point crediting formula: Tthe stochastic equity crediting model and the deterministic option budget crediting model. The analysis is then extended to different levels of option budgets and the monthly average crediting formula. The advantages and disadvantages of the two equity return projecting approaches are also highlighted and will be discussed later in the report.

Description: In this article, we summarize inflationary factors that may result in a sharp increase in interest rates and implications for life insurer convexity risk exposure, most notably to dynamic policyholder lapsation. We further provide insights into potential ALM strategies to mitigate this convexity risk. Due to the prolonged low-interest rate environment and low minimum interest rate guarantees offered to policyholders, liability convexity is higher than prior historical periods, which results in life insurers’ ALM positions being extremely vulnerable to short-term interest rate spikes. Convexity mismatches cause issues for life insurers under both rising and declining interest rate scenarios. This means that life insurers are not compensated for taking convexity risk and, therefore, convexity matching should always be considered in the asset optimization process. There are mixed signals from policymakers and financial markets regarding potential inflationary and sharply rising interest rate scenarios. The key takeaway is that life insurers are not compensated for taking convexity risk and it is the right time for insurers to review convexity exposure. There are different approaches available to mitigate convexity exposure through rebalancing of asset positions and hedges within each life insurer’s risk limits.

Description: In this article, we summarize inflationary factors that may result in a sharp increase in interest rates and implications for life insurer convexity risk exposure, most notably to dynamic policyholder lapsation. We further provide insights into potential ALM strategies to mitigate this convexity risk. Due to the prolonged low-interest rate environment and low minimum interest rate guarantees offered to policyholders, liability convexity is higher than prior historical periods, which results in life insurers’ ALM positions being extremely vulnerable to short-term interest rate spikes. Convexity mismatches cause issues for life insurers under both rising and declining interest rate scenarios. This means that life insurers are not compensated for taking convexity risk and, therefore, convexity matching should always be considered in the asset optimization process. There are mixed signals from policymakers and financial markets regarding potential inflationary and sharply rising interest rate scenarios. The key takeaway is that life insurers are not compensated for taking convexity risk and it is the right time for insurers to review convexity exposure. There are different approaches available to mitigate convexity exposure through rebalancing of asset positions and hedges within each life insurer’s risk limits.

Description: View information on the 2021 Board Member Candidate Mercy Yan.

Description: 2020 candidate questionnaire for Ronald Klein

Description: 2020 candidate questionnaire for David Sandberg

Description: This paper introduces actuaries and others to dynamic stochastic general equilibrium (DSGE) models, a type of macroeconomic model. Authored by Kailan Shang, the paper illustrates how DSGE models can be used in economic scenario generation to reflect the cause and effect relationships that occur in the economic system.

Description: View the Lifetime Volunteer Award Recipients.

Description: Career changes typically follow a major milestone—a promotion, a job offer, a new degree, maybe a cross-country move. For Patrick Getzen, exposure to some new perspectives ignited a shift.

Description: View the 2019 President-Elect Candidate page for Jim Toole for the 2019 SOA Elections.

Description: View the Candidate Questionnaire for William B. Fornia for the 2019 SOA Elections.

Description: Read 2019 Elected Board Member candidate Xu (Vincent) Xuan's Questionnaire.

Description: This project forecasts China's population structure in the coming decades by projecting both the mortality and fertility rates of the Chinese population.

Description: View the exam book list.

Description: View the exam book list.

Description: View the exam book list.

Description: View the exam book list.

Description: View the exam book list.

Description: This research summarizes surveys of individuals 85+ years old, and children of individuals 85+ years old looking at post-retirement experiences.

Description: Review the table of contents for 2018.1 Actuarial Research Clearing House.

Description: Julie A. Curtis is an endorsed candidate for elected Board Member for SOA's 2017 elections. Read her candidate questionnaire.

Description: David K. Sandberg is an endorsed candidate for elected Board Member for SOA's 2017 elections. Read his candidate questionnaire.

Description: The SOA Outstanding Session Award program recognizes the moderators and speakers at the best sessions at SOA flagship meetings. View the award recipients for the Investment Symposium.

Description: Individuals receive this award for their superior performance, team collaboration and effective communication, leadership and also for their inspiration to others.

Description: One of the many resources that the SOA offers for download are projects and reports, including topics such as risk management.

Description: One of the many resources that the SOA offers for download are projects and reports that focus on pensions.

Description: The Investment Section is hosting a member’s only Asset Allocation Contest.

Description: Welcome to the resource page for the Behavior Finance Subgroup of SOA's Health Section. Our subgroup reviews literature, proposes studies, and compares notes on the applicability of behavioral finance to the purchase and use of health insurance and healthcare services. We translate our findings into articles, presentations, or summary material that is then made available to the SOA membership.

Description: Actuaries’ work delivers value. Value to business, organizations and to the public. The world depends on actuaries to make sound decisions for the future. How? By measuring and managing risk, actuaries bring financial security to individuals, organizations and the public. As a result, actuaries receive recognition, respect and rewards.

Description: question and look for ways to make improvements on things by making them more efficient and intuitive. Mehmud did not study actuarial science in school. He earned a degree in mathematics and physics while taking courses like Asian history and skeptical thinking. In retrospect, he said, his exposure to a liberal arts education allowed him to view problems with a multifaceted perspective.