Description: In this paper we propose a model that can be used to analyze correlated claims data. In the process we introduce a class of multivariate generalized Poisson distributions. Then we present posterior distributions of its parameters. These distributions are difficult to manipulate, so we employ Markov chain Monte Carlo methods to draw random numbers from posteriors and predictive distributions. We present a collection of EXCEL VBA functions and subroutines to perform the simulations.

Description: This is a chart on missed assumptions impact on Long Term Care Insurance ROE from an article in The Actuary Magazine entitled Long-Term Care is Poised for Growth.

Description: Four ways in which actuaries can effectively work to help successfully implement system development projects.

Description: It talks about the major areas of data science and how to learn data science with the actuarial background.

Description: This article discusses a study of the impact of the drug infliximab on Crohn's disease patients. This study had been approved in response to an SOA request for proposals for research on the health cost and utilization effects of a specific prescription drug.

Description: Improve pharmacy cost forecasting by developing induced demand curves for pharmacy costs.

Description: Chairperson's Corner is the introduction to the JRMS newletter.

Description: Provides a metric based on the concept of "entropy" from information theory/signal processing, for modifying a stochastic scenario set to meet pre-defined targets on average across the set. Explains the concept and develops it in simple examples. Illustrates why an optimal adjustment to the scenario set is one that maximizes entropy. Provides guidelines to limit use of the technique appropriately and avoid invalid application of the tool.

Description: The winners of the Investment Section's 2016 Asset Allocation Contest are announced, along with a recap of the contest and market performance.