Description: This paper will examine why CSR defunding produces pricing uncertainty and how regulators can alleviate these risks when insurers price 2020 premiums.

Description: This article is to outline the new requirements for valuation rates in VM-22, highlighting key differences and example calculations to enhance understanding.

Description: How can actuaries tailor their work to a target audience? This article explores success stories and key considerations when preparing work for others.

Description: How do combo products fit in the new statutory valuation framework?

Description: This is the second article in a two-part series examining the potential value to companies of implementing a company profitability and risk dashboard.

Description: Read the November 2016 issue of Health Watch published by the Health Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: In a very general setting this paper describes a straightforward, non-parametric approach to aggregate "stand-alone" or marginal distributions with desired correlations without imposing additional assumptions on those marginals. We then develop two optimizations for the enterprise, one based on maximizing return on economic capital and the other based on a mean -semivariance efficient frontier from the investor point of view.

Description: Health Watch, Issue 79, December 2015, Health Watch

Description: Research is a primary mission of the Financial Reporting Section and is the largest use of section dues. This scorecard will keep section members informed about research projects sponsored or co-sponsored by the section.

Description: Compares how other industries (in this case, Fast Food) researches and tests new products. Provides examples of how the insurance industry can efficiently research and test new product concepts before going to market.

Description: Research is a primary mission of the Financial Reporting Section and is the largest use of section dues. This scorecard will keep section members informed about research projects sponsored or co-sponsored by the section.

Description: May 2013 issue of the Health Watch newsletter

Description: Individuals face many risks during different phases of their financial life cycle. These risks in turn have major financial implications on their wealth creation, wealth preservation and wealth distribution aspirations. Traditionally risk taking is viewed negatively in relation to the personal financial-planning domain. In fact, most of the studies linking risk management to personal financial-planning focus primarily on investment and insurance related risks. In contrast, enterprise risk management (ERM) takes a portfolio view of risks right from the personal level to the organization level. The existing literature on ERM is seen as an essential feature of corporate world and there is not much literature available that explicitly addresses the issue of aligning ERM framework to the whole spectrum of personal financial planning. In this backdrop, it seems logical to develop an in-depth study on aligning an ERM framework to a personal-financial planning domain. Accordingly, this conceptual paper, avoiding mathematical jargon, extensively examines the extent to which ERM can be aligned to the personal-financial planning domain. The Study concludes by suggesting how individuals should identify, aggregate, evaluate and address risks across the whole spectrum of personal financial planning domain

Description: Introduction to option pricing using Black-Scholes. Discussion on the limitations of Black-Scholes and of its alternatives such as Heston. Clear, accessible explanation of key results of mathematical finance including risk-neutral valuation.

Description: This scorecard informs section members about research projects in progress and recently completed that are sponsored or co-sponsored by the section.

Description: Considerations when developing internal models for use in Solvency II.

Description: Information regarding the Economic Scenario Generator to be used when calculating Principle-based reserves and implementing VM20.

Description: Introduction to option pricing, with special attention to issues in applying these tools to price equity-linked insurance products. Clear, accessible explanation of key results of mathematical finance including risk-neutral valuation.

Description: Explanation of Medicare Advantage STAR rating program as it relates to payment rates for MA bids. Also describes important features of the program from an actuarial perspective, how the components of the STAR rating are calculated and implications and considerations for actuaries.

Description: The paper discusses the arguments supporting the need for risk culture to transition into ERM culture to be embedded across financial organizations. Creating and maintaining strong ERM culture is paramount to a lasting and meaningful ERM program. It is essential for organizations to understand what ERM culture is, how it gets established and in what way affects the process of ERM implementation. Often, the implications of financial enterprises not focusing on the significance of ERM culture manifested in severely compromised ability to generate sustainable value and market competitive advantage. This paper calls for rethinking the role of ERM culture in the context of managing risks.

Description: A discussion of insurance claims processing and payment systems, and how to achieve the minimum possible number of errors.

Description: Lessons, tips, and suggestions for properly approaching the first stages of actuarial research.

Description: Slides from a panel discussion session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 Discussion of the basics of actuarial appraisals: Panelists discussed the reasons to perform an actuarial appraisal, the processes involved, issues that should be addressed and assumption development.

Description: From a session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 Session topics included model hierarchy, statistical deterministic and stochastic models, real-life situations, how to organize a model effectively, structuring the model to fit the project or report data, sources/integrity techniques documentation, and constraints and limitations on models.

Description: From a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 Panel discussion of the work being done by the Society of Actuaries and the NAIC to further development of a Unified Valuation System.

Description: Panelists address expense assumptions for a new company, and also for an existing company in changing situations such as a new product line, new distribution system, or new market. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4A.

Description: Vendor representatives discuss their ALM systems, what they do and don't do, and the advantages and disadvantages of each. Also includes a comparative survey of the capabilities of a number of the existing systems. From the 1987 Record of Society of Actuaries, Vol. 13, No. 3.

Description: Provides a brief review of World Population: An Analysis of Vital Data by N. Keyfitz and W. Flieger. It presented a collection of life tables and related data covering more than 60 populations over 180 years. This book presents data on mortality from recorded causes of death in 180 populations, with detail provided on age and sex .... This volume should reduce substantially problems of data availability by providing information on mortality experience spanning a period of 103 years, for 48 nations, and encompassing a range of life expectancies from 27 to 77. The data will assist the social scientist in documenting such matters as the sources of the vital revolution, causes of increasing sex mortality differentials, components of age curves of mortality, geographic and temporal variations in mortality structure, and economic and social costs of a disease.