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 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: Read the November 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: Read the June 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 demonstrates how to implement DevOps for data using Moody's Axis. This was described as Model as Data (MAD). It described how extract turn-around documents from the model so they could be loaded back into the model. This feature allows continuous integration, continuous deployment and continuous testing of the model, which are important concepts in DevOps. This will allow the actuaries to speed up the model development cycle.

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: Article describes how to write effective model documentation

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: 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: Full issue of The Modeling Platform

Description: This article discusses important implications of the upcoming Long-Duration Targeted Improvements (LDTI) accounting change for the modeling actuary. We discuss the modeling implications of new GAAP standards for Market Risk Benefit (MRB), including identification of MRBs, implementation of fair valuation in actuarial systems and retroactive determination of at-issue valuation inputs for transition. We also examine the modeling implications of the other aspects of the accounting change, including Liability for Future Policy Benefit (LFPB), Deferred Acquisition Cost (DAC), and other transition and disclosure requirements

Description: Summary of the modeling-related sessions from some of the major 2018 Society of Actuaries (SOA) meetings: Life & Annuity Symposium, Health Meeting and the Valuation Actuary Symposium.

Description: In this article, we will describe EY’s five-pillar approach that balances practicality with comprehensiveness, and how this applies to LTC model validation.

Description: April 2018 issue of The Modeling Platform by the Modeling Section. Practical information for actuaries, trends that impact section, section activities.

Description: Tools that should be in place to support a validation program and covers a case study of a validation of an Actuarial Guideline 43 (AG43) model.

Description: A listing of the 2016 modeling-related sessions and webcasts from the SOA. Most meeting session recordings are available for free to SOA members.

Description: Read the April 2017 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: A summary of Modeling Section-sponsored sessions at the 2016 Life/Annuity Symposium, covering model risk management, model governance, and model efficiency.

Description: This article walks through the process of building a cluster model using off-the-shelf software.

Description: Read the December 2016 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 first installment of a three-part series and is focused on providing an overview of LTC modeling approaches and considerations.

Description: A brief overview of modeling bonds and mortgages

Description: Effective documentation is a critical component of model risk management. Several types of effective documentation are discussed.

Description: The April 2016 Issue of The Modeling Platform

Description: The authors explore a new approach to the premium persistency assumption in universal life products.

Description: This article walks through the history of model efficiency in the U.S. life insurance industry, examines its current application, and looks ahead to what we might expect to see in the future.

Description: The next evolution of actuarial systems in the U.S. will likely be a move toward a single system solution. This article defines a single system solution and illustrates how models can be shared across actuarial functions, the potential benefits of a single system solution, and describes potential mitigation strategies to address typical actuarial concerns.

Description: December 2015 issue of The Modeling Platform