Description: This report identifies and makes recommendations regarding possible exposure measures for pricing and analyzing the risks in cyber insurance. Cyber insurance is an insurance product that is designed to provide protection against the financial consequences of a failure or compromise of an organization’s information system as a result of a cyber event.

Description: The Society of Actuaries’ Aging and Retirement Strategic Research Program is pleased to make available a summary report that highlights key findings from the latest biennial survey, Risks and Process of Retirement. The survey, the eleventh in the series, was conducted online of Americans ages 45 to 80. The purpose of the study is to evaluate Americans’ awareness of potential financial risks in retirement, how this awareness impacts the management of their finances with respect to retirement, and how Americans are managing the process of leaving the workforce. The survey was conducted by Mathew Greenwald & Associates, Inc. The full report of findings is forthcoming and will be posted soon. Additionally, several special topics reports examining aspects of the findings will be posted as they become available.

Description: Chronic Kidney Disease (CKD) affects many lives and has a large impact on health systems around the world. To better understand and predict costs for insurance plan members with CKD in the United States, we built a new model of their individual costs. Our model is the first to explicitly model both the CKD stage transition process and the distribution of costs given those stages.

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: This report discusses management decision making practices and the need for actuaries to build the appropriate level of variability for management actions in stochastic models to achieve a more realistic range of future experience among the stochastic scenarios.

Description: This report is an update to a 2014 paper related to changes in the continually evolving pension risk transfer landscape. This updated report seeks to discuss pension risk transfer in depth and identify key de-risking actions, alternatives and triggers that impact pension risk transfer strategies.

Description: The Society of Actuaries Research Institute’s Aging and Retirement Strategic Research Program in collaboration with the Sexuality and Gender Alliance of Actuaries (SAGAA) is pleased to release a collection of essays in response to a call for essays aimed at a broader exploration of issues related to aging and retirement for LGBTQ+ people.

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: Decentralized finance, or DeFi, is an emerging financial system powered by blockchain technology. This research report aims to introduce actuaries to DeFi and help them develop a solid understanding of DeFi. It will begin with addressing “what is DeFi?” by providing an introduction on blockchains and DeFi. It will then discuss in further detail the key characteristics, applications, opportunities, and risks of DeFi. After providing the foundation, this report will discuss the potential adoption of DeFi and its interaction with the current financial system (sometime referred to as traditional finance for contrast with DeFi), and the implications for practicing and aspiring actuaries. In addition, a glossary of terms used in DeFi and a brief history of the development of DeFi have been included in the appendix.

Description: This study presents a comprehensive approach of real option analysis to climate adaptation policies aiming to mitigate flood risk. The framework focuses on pricing catastrophic risk in coastal regions, allowing for economic growth and uncertainty in the mean sea level rise.