Description: The actuarial profession is marching into the age of Big Data. Increasingly, employers in various actuarial fields are requiring new hires to have sophisticated knowledge in statistics and data science. To meet the new demands from the industry and the profession, one of the key additions to the SOA’s new curriculum is an exam in Statistics for Risk Modeling (SRM) which includes modern statistical and data science techniques. There is also a new proctored project on Predictive Analytics, as a capstone requirement following the completion of the SRM Exam. At the University of Toronto, we recently underwent a major actuarial science curriculum redesign, in order to stay current with new trends and demand from the profession and in line with the new professional curriculum.

Description: This session from the 1993 Valuation Actuary Symposium introduces the Basic Issues and Principles Health Practice Note and provides some background information including cash flow testing, Section 7 opinions and an update on solvency issues.

Description: From the Valuation Actuary Symposium Proceedings January 1986 Discussion of the development of the valuation actuary concept, various aspects of current regulation, and major features of the valuation actuary concept. Also discussion of the nature of professional liability and the specific legal liability of the valuation actuary. Finally an overview of some methods of limiting that liability.

Description: In the absence of a generally accepted guide to actuarial principles and practices for pension plans, a new professional firm offering actuarial consulting services has both the freedom to establish and the burden of establishing the professional policies by which it will be guided. Our thinking about the practical and professional necessity of annual valuations is reflected in this paper. From Transactions of Society of Actuaries 1972, Vol. 24, Pt. 1, No. 69 AB.

Description: Over the last few years, many direct companies have started inforce management programs and are now navigating what actions can be taken to optimize the business. At the same time, the legal, compliance, and regulatory environments are also changing. The presenters will explore the development and implementation of programs such as changing non-guaranteed elements or efforts to improve experience while considering the changing compliance environment, including New York Regulation 210, ASOP2 and litigation challenges.

Description: Forming a view on what the tail looks like for various risk factors involves both technical know-how and considerable judgment. The presenters focus on what needs to be addressed when setting financial market risk and insurance risk assumptions, in particular when assessing the question of diversification and the treatment of tail dependencies between risks and lines of business:

Description: This session from the 1993 Valuation Actuary Symposium discusses the draft of the group LTD practice notes, the disabled lives reserve DLR, the IBNR liability, the testing of a company performed at year-end 1992 to determine reserve adequacy and an overview of of the individual disability income IDI practice notes.

Description: This session from the 1993 Valuation Actuary Symposium explores issues associated with Life and Annuity Valuation including the status of Guideline XXX and practical compliance issues.

Description: This session from the 1994 Valuation Actuary Symposium presents a question and answer format relating to various valuation topics.

Description: This session from the 1983 SOA Hollywood, Florida Meeting reviews life insurance company financial reporting including financial reporting developments in Canada and the U.S., recent accounting developments for non-guaranteed premium products and new issues relating to the U.S. statutory actuarial opinion. From Record of Society of Actuaries Vol. 9, No. 4.