Description: This full report summarizes the findings of a study focused on the financial perspectives of aging and retirement of Americans across give generations.

Description: Actuarial Weather Extremes: May 2021

Description: COVID-19 brought changes that disrupted virtually everyone’s personal and professional lives. In April 2021, the Society of Actuaries (SOA) surveyed 26,101 members and candidates to understand the pandemic’s impact on actuarial careers. Approximately 7% (1,912) responded and included demographic information, 77% of whom were from the U.S., 14% from Canada and 9% from other countries.1 The SOA also analyzed actuarial exam progress at an aggregate level.

Description: This report examines weather conditions for daily maximum temperature (TMAX), drought conditions, and snowfall that are extreme in an historical context. The report also examines the early eighth named storm to make landfall in the U.S. (Hurricane Nicholas), ahead of the eighth landfall storm of 2020, which had a record 11 named landfall storms for the year.

Description: In this report, we explore the impact of clustering using the Medical Expenditure Panel Study (MEPS) data for children (aged 5 to 17) to build a bridge between oral health and overall health using dental and medical expenditures. We include social determinants of health as cluster input variables using the Partitioning around Medoids (PAM) method to identify children and their families who could potentially benefit from population health management related to oral health.

Description: Decentralized insurance alternatives is a rapidly expanding sector of Decentralized Finance (DeFi), an emerging and growing financial ecosystem powered by blockchain technologies. The purpose of this report is to review and discuss the business models and operating designs of decentralized insurance alternatives, which may have significant implications for traditional insurance businesses, as well as the actuarial profession.

Description: The Chinese insurance market is grappling with product innovation, business growth and regulatory oversight as it tries to keep pace with a sharp growth in demand across product segments. In this context, the authors have highlighted insurance trends in China, based on available research and literature, with a particular focus on topics that will drive the enterprise risk management (ERM) function of insurance companies. ERM provides an opportunity for insurers to identify and mitigate potential insurance risks by enhancing their policies and risk management activities. This report explores the insurance trends in detail, drawing on findings from interviews of practitioners in the Chinese market, to provide context for the drivers of ERM transformation.

Description: Non-guaranteed elements are parameters of life insurance and annuity polices that are not fixed when the policy is issued but may be changed from time to time by the insurance company. They emerged in the United States and other countries as features of Universal Life and similar products designed to make insurance more competitive in an environment where fully guaranteed products did not have sufficient flexibility to respond to rapidly changing conditions. This overview covers professional guidance, regulations and practical issues with reviewing and revising non-guaranteed parameters.

Description: This article series highlights the growing impact of climate change on health, property, and financial institutions, emphasizing the need for actuaries and risk analysts to evaluate and adapt their practices to manage evolving climate-related risks.

Description: The Spatial Hazards Events and Losses Database for the United States (SHELDUS) provides county-level data for direct economic losses due to natural hazards from 1960 to the present.