Description: As actuaries, we’re trained to see patterns in numbers and to design solutions that mitigate risk. But I can tell you from experience that while quantitative analysis and modeling are critical actuarial tools, looking at the numbers alone can lead to insurance products that don’t succeed in the real world the way the math says they “should.” With new digital technologies, we have more data at our fingertips than ever before, but I believe it’s equally as important to bring qualitative research methodologies into your product development process if you want to design solutions that meet real needs in the market. In this article, Amanda Turcotte shares what happens when qualitative research is neglected or ignored, what happens when you incorporate it into the product design process, and how to implement qualitative research practices in your organization.

Description: Climate risk modeling is taking center stage. With businesses increasingly expected to show how they assess, adapt to, and mitigate the risks of climate change, companies are asking: What is the right climate risk modeling approach for our business?

Description: This article provides an alternative method to the computation of the Reduction in Benefits Test under 7702A. Part 1 provided for reduction in death benefits. Part 2 provides for reduction in Qualified Additional Benefits.

Description: The direct and indirect effects of the pandemic have impacted many actuaries’ work since the spring of 2020. This article addresses three considerations actuaries should account for when using risk evaluation models which are focused on projecting remote, highly unlikely losses: model effectiveness, asset risk, and insurance (mortality and mortality) risk.

Description: Discusses insurance company considerations and approaches when dealing with the complexities of deferred lives within pension plans.

Description: This article provides a basic introduction to the taxation of qualified annuities held in qualified retirement plans and IRAs. The article has been updated for the SECURE Act and the SECURE 2.0 Act. The article describes the basic types of employer-based plans, provides of overview of the taxation of contributions and benefits when annuities are held in connection with plans and IRAs, explains the required minimum distribution rules, and offers a brief introduction to recent legislation impacting qualified annuities.

Description: As the insurance industry continues to evolve due to a pandemic and rapidly changing economic and regulatory conditions, the role of data scientists and actuaries has become increasingly important. In an interview with the Atidot data science and actuarial team, we discuss what it is like to work at an InsurTech, how data scientists and actuaries can collaborate, and look at some concrete technical examples of where the innovation is having an impact. This article explores what collaboration can look like and how the role of data science and actuary may evolve in the InsurTech industry in the future.

Description: This article delves into the transformative realm of Business Intelligence (BI) tools. We explore the fundamental functionality and structure of these tools, and through case studies illustrate how they offer valuable insights into carrier experience and underwriting dynamics. From real-time data visualization to in-depth data analysis, discover the essential features that empower businesses to make better informed decisions.

Description: Summary of the annual cost-of-living adjustment and changes in other wage-indexed programs parameters for Social Security in 2024.

Description: Article discussing the benefits of the Chartered Enterprise Risk Analyst, CERA, credential.