Description: 2021 Life Meeting - Session 9A: ASOP 56 - Modeling Begins in the Middle: Don't Forget the Beginning and the End 9.1.21 Recording

Description: In this webcast, presenters will outline the key content in ERM ASOPs 46, 47 and 55 and explore the impact each ASOP has on practitioners working in these fields. We will also describe the revision work currently under way in the ERM Committee of the Actuarial Standards Board.

Description: With seemingly unending demands on life & annuity companies for more intense and complex calculations, as well as greater sophistication around analytics, and all of this done at speed, never before has it been so important to seek out maximum efficiency in constructing models. In this session the panelists examine how the combination of various model efficiency approaches, pulling in many different facets of modeling and making it flexible enough to dial up or down various modeling components, can bring about incredible results. Not only does it become possible to produce and expand upon financial risk metrics via a building block approach, but also enables life insurers to produce analytics and dashboards to support strategic decisions that were simply not possible or cost effectively viable before.

Description: The actuarial profession now has an official definition of a model with the introduction of ASOP 56. In this session, we'll examine how the definition of this model has expanded and what it means for our daily work as modelers. Have your practices as a modeler complied with ASOP 56 since it was drafted? What new practices will you need to put in place to work in accordance with the new ASOP? We'll answer these questions as we delve into ASOP 56 and how it applies to modeling and the processes that support it. Interpret ASOP 56 as it applies to their daily work. Identify areas of their current processes that could be enhanced to better comply with ASOP 56. Design documentation in accordance with ASOP 56.

Description: As of September 2021, there are 8 recorded webinars available for free to Modeling Section members. Each of the 8 are described, as well as how to access them. There are other Modeling Section-related materials also pointed out (podcasts & newsletter)

Description: An overview of the objectives of outbreak modeling, and an examination of the various types of models used both to forecast an uncontrolled outbreak, and to estimate the effects of interventions intended to alter the outbreak’s trajectory

Description: Data science, predictive analytics and AI are certainly the buzzwords these days. They are heavily used and developed in underwriting and marketing but for most actuaries, they might/may as well be science fiction. The presenters will demonstrate how a normal actuary can utilize data science techniques in their daily job function without forming an official data science team within a company. It can be done in a gradual fashion so that normal business is not disrupted and improvements are made over time. The usage of data science techniques will include demonstrations of the following areas: - Regression analysis - Economic scenario generator - Experience study - Data quality checks - Inforce compression for explicit hedging

Description: This article discusses the Modeling Actuarial Standard of Practice. Intent and questions related to a model across all practice areas is discussed

Description: Actuaries are Known as highly ethical. Data Science poses ethical challenges for our profession.