Description: This abstract describes a presentation that provides an update on the education activities of the Society of Actuaries.

Description: This abstract describes a paper that investigates the extent of increasing the Social Security full retirement age in order to reduce the program’s funding deficit.

Description: This abstract describes a paper that considers portfolios of two dependent risks whose joint distributions are defined with exponential marginals.

Description: This abstract describes a paper that presents new data that accounts for the confounding park factor variable in Minor League Baseball.

Description: This abstract describes a paper that provides a quantitative framework in which two risk management strategies are mathematically formulated.

Description: The abstract for the paper Avoiding the Train Wreck. The paper incites actuaries to address the problems that are facing our growing elderly population.

Description: The abstract for the paper What if Mortality was to Diminish Much More than Forecasted? Implications for Financing Social Security.

Description: The abstract for the paper The Interdependency of Increasing Life Expectancy and Driving Life Expectancy of Elderly Populations.

Description: This paper develops the binomial version of the Lee-Carter model and provides a comparative study of simulation strategies for assessing risk in mortality rate predictions and associated estimates of life expectancy and annuity values in both period and cohort frameworks.

Description: This paper evaluates the current practice of operational risk management in the insurance sector. Operational risk is nothing new in insurance, but, because of regulatory requirements, companies have initiated computation of risk capital for their operational losses. The current effort to manage operational risk is not a naturally evolving phenomenon, and operational risk, in the Basel Committee on Banking Supervision’s Basel II definition, is unlikely to be a significant cause of insurers’ failure. In addition, the current Basel II definition of operational risk is not suitable for the insurance sector. Consequently, the invention of models and tools based on the definition is incomplete and illusionary. My findings are based on the analysis of dozens of interviews with insurance industry professionals. I demonstrate the way operational risk is quantified in practice, show that the result obtained from this computation is of littl e use in managerial decision making and propose a set of policy recommendations illustrating the characteristics of operational risk in insurance. This study can be used as a platform for launching dialogues to initiate fresh thinking about operational risk in insurance beyond the current artificial and narrow boundaries.