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.

Description: Outgoing co-editor Howard Callif bids farewell and introduces incoming co-editor Richard Junker.

Description: This article is the second in a four-part series about eliminating the confusion with using data terminology. Part one discussed data governance. This second part will discuss data analysis and database management.

Description: Read the October 2018 issue of CompAct published by the Technology Section.

Description: File for 2020 DATA VISUALIZATION CONTEST

Description: RFP on Cross impact between Predictive Analytics and Actuarial Transformation initiatives

Description: This study explores the use of geospatial imagery and high-resolution image technology in the property and casualty (P&C) insurance industry, focusing on improving risk determination through accurate building location data. It introduces new methods like structure footprints and high-resolution elevation information to enhance underwriting, rating, and claims settlement. The study includes two case studies: one on flood risk in Hillsborough County, Florida, and another on wildfire risk in three California communities, demonstrating the significant impact of precise location and elevation data on risk assessment and insurance premiums.

Description: In this article, we talk to Lei Rao-Knight, FSA, Vice President and Actuary at Prudential Financial. Lei discusses her model development experience in the Modeling Center of Excellence.