Description: Presented at May 1996 Spring Meeting. This session offers a retrospective and prospective look at the development of actuarial pricing models and technology tools.

Description: An increasing need exists for the actuary to provide ranges and frequency distributions of possible values instead of providing only mean values. This discussion will cover: projections of asset experience under various economic scenarios, a practical application of profit analysis using scenarios and a deterministic model, exploring possible values by means of stochastic modeling, and a description of the new life contingencies textbook's stochastic approach and application to some practical population and census problems. From Record of the Society of Actuaries 1981, Volume 7, No. 4.

Description: Presented at October 1996 Annual Meeting. This discussion presents an introduction to Monte Carlo and why it is used for integration and valuation of complex formulas. Moreover, results using low-discrepancy sequences instead of the Monte Carlo simulation for pension fund analysis is shared.