Description: The chairperson reviewed the accomplishments from the prior year and provided a preview of upcoming events.

Description: This article talks about the challenges facing the FDA, especially those arising from the globalization of the pharmaceutical supply chain.

Description: Because of its complexity, ensuring the security of cyberspace is one of today’s most significant challenges. As the cyber environment becomes more integrated with the real world, the direct impact of cybersecurity incidents on business is also heightened. This study aims to develop a generic model that can be applied by any organization. For the validation of the developed cyber risk analysis method, simulations and sensitivity analysis will be performed.

Description: The Society of Actuaries Research Institute commissioned this study to highlight the leading emerging technologies that may significantly affect the actuarial profession over a three-year horizon. This study will act as a guide and a resource for actuaries or potential employers to identify the prospective tools to enhance or expand actuarial work, for people collaborating with actuaries who may be affected by these technologies, and for leaders looking to enable teams employing actuaries through the introduction of these tools. It’s noted that actuaries should embrace technologies that enhance the remote working experience within their internal teams and across departments by investigating functionalities beyond messaging and video calls. Actuarial organizations and employers should examine technologies where there is a wide range or gap in maturity and familiarity and evaluate whether a knowledge gap exists and whether any gap is due to lack of education and training.

Description: InsurTech is commonly described as the providing insurance protection and services through new technology innovations, often with a goal of producing savings and efficiency from the traditional insurance industry model. InsurTech is a seen as a growing place where the actuarial profession provides expertise and services.

Description: On November 30, 2021, the SOA Research Institute assembled an industry expert panel to discuss current issues in actuarial technology. Each participant who volunteered to be part of the discussion was selected because of their management-level responsibilities for the application of technology in an actuarial context. The group was diverse in terms of employment, including company actuaries from life, health, and property/casualty backgrounds, as well as consultants from various kinds of firms.

Description: On January 12, 2023, the Arizona Blockchain Applied Research Center (AZ BARC) and the SOA Research Institute jointly ran a workshop on the use of blockchain technology in insurance and financial industries. The workshop included presentations focused on academic research in the blockchain space by Arizona State University, AZ BARC and an industry expert panel assembled by the SOA Research Institute. This document summarizes the research highlights and the discussions that occurred during the two-hour workshop.

Description: The Society of Actuaries (SOA) sought to investigate methodologies and characteristics associated with actuarial innovation, aiming to expand the industry’s capabilities for creativity. The SOA engaged Milliman to conduct in-depth interviews and focus groups with select actuaries who have demonstrated innovative skills, in order to derive key behaviors and characteristics that encourage innovation.

Description: As the insurance industry struggles along with the rest of its financial services brethren to operate in the current global recession, it must consider the true value of innovation. Insurers should reduce the focus on improving what they know how to do and look to what they could be doing in light of the change that swirls around them.

Description: Editor discusses feedback on new format of newsletter and solicits volunteers for more articles.