Description: Read the April 2020 issue of The Modeling Platform, published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article is the final installment of our three-part series on economic scenario generators (“ESGs”). Part I and II were published in the November 2019 and August 2020 issues of The Modeling Platform. Part III contextualizes the framework for selecting, building, and validating ESGs and focuses on the Academy Interest Rate Generator (“AIRG”), the most commonly used real-world ESG for US actuaries

Description: This article is the first installment of a three-part series that aims to provide an overview of ESGs and will focus on the general motivation for stochastic modeling, its advantages and its limitations. Future articles will further break down the key factors of ESGs and the application of these factors to better understand the Academy Interest Rate Generator (AIRG).

Description: This article describes how to externalize code of Moody's Axis platform to Visual Studio, so that all the actuarial calculation code run through corporate DevOps pipeline. This article gives specific examples of the author has used in his job to accomplish automated model governance.

Description: Discussion on modeling Medicare Supplement insurance and the considerations when choosing an Actuarial Modeling Software (AMS). Focuses on model risk management, key modeling assumptions and inputs, and the complex interactions between modeling assumptions and why its critical to have a model that can handle that complexity. This article also touches on the incorporation the of accounting and regulatory regimes into the model, including Statutory, GAAP (Legacy and LDTI), and Tax regimes, and the modeling considerations for sensitivity testing and capital planning. Lastly, the article highlights the capabilities to look for when choosing an AMS for Medicare Supplement

Description: Read the November 2019 issue of The Modeling Platform, published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Everyone loves efficiency. But what does it truly mean for something to be efficient? An actuary who has spent almost 20 years managing process improvements shares his experiences and the evolution of his views on efficiency. This parable highlights the broader aspects of efficiency that are often missed, and some of the challenges that can come from targeting a typical view of efficiency.

Description: Recent and pending changes in financial reporting standards and regulations such as IFRS 17 and US GAAP Targeted Improvements are ramping up the performance pressures on actuarial models. New infrastructure technology in the cloud is driving modeling options that may well help actuaries successfully and economically meet these challenges and unlock even greater transformational change.

Description: Actuaries understand the technical benefits of converting their models to a modern actuarial system, such as new capabilities and upgraded technology. This article highlights additional, non-technical benefits that also come with model conversion. These benefits include advancements in attitudes and capacities among the team and across the company.

Description: How do you make model output media worthy? This article explores considerations that may contribute to the mass production of model results for public consumption.