Description: Research report sponsored by SOA to model and compare projected costs of different proposals for a Medicare prescription drug coverage plan. 3 types of costs are studied: net benefit cost estimates per member per month, continuance table data, and projected annual costs to the government over 10 years for two selected plan designs.

Description: Summary of recent SOA-sponsored research on Enterprise Risk Management practices as applied to health insurers, self-insured plans, and health finance professionals.

Description: Based on interviews with C-level executives, this report offers insights on the role and actions of the global insurance industry in addressing climate change

Description: Update on issues, priorities and key messages from the Joint CAS / CIA / SOA Risk Management Section Council.

Description: The costly, time-consuming and complicated process of enterprise risk management (ERM) can be improved in many companies and made less tedious for managers by using reasonable data and templates obtained from peer group entities. The models used to calculate economic capital (EC) often underestimate its value because they do not consider decision-maker perception about risk. We assume here that managers, as the decision-makers, have appropriate business understanding and they can provide substantial information about risk characteristics regarding all business processes. Therefore we are focused, in this paper, on collecting data from managers across the different businesses to derive the appropriate knowledge about risky events, the importance of particular types of risk, the relationship between the risk outcomes and the level of risk control in a particular industry. We conclude that the collected data has a high potential for use as a benc hmarking reference and analysis for improving ERM models for individual businesses.

Description: Explores the open vs. closed systems debate with regards to actuarial modeling and exposes the over-simplification. Valuable for anyone who uses models.

Description: Four ways in which actuaries can effectively work to help successfully implement system development projects.

Description: This article is the first of three parts in helping you to move forward when your career growth seems to be stalled. In this part, help you discover WHY your career has slowed and then move on to the WHAT and HOW in parts 2 and 3.

Description: This article is about how entrepreneur independent business owners can solve their day-to-day frustrations and problems with a simple and useful process for setting goals and building a plan to meet those goals.