Description: The complete publication.

Description: The Pension Forum is for the publication of papers on pension-related topics and discussions of those papers. It is published on an ad hoc basis by the Pension Section of the Society of Actuaries, and delivered to Pension Section members free of charge.

Description: The future holds many changes. We've already dealt with major changes over the last few decades. This article goes through tips to embrace change effectively.

Description: Life Insurers have fallen behind the customer service curve and service expectations of younger customers. This article suggests changes for correcting this.

Description: Discussion of what is included within the scope of Enterprise Risk Management and why it is of significance to the jobs of financial reporting actuaries

Description: This paper uses the property-liability insurance companies as a research sample to investigate the relation between the enhancement of cost efficiency and the usage of reinsurance and financial derivatives as risk management tools. The stochastic frontier approach is applied to consider not only the mean of cost efficiency, but also its variance. The sample includes both organizational forms, namely, stock and mutual insurers.

Description: This monograph was presented at the 2011 Enterprise Risk Management Symposium, held March 14-16 in Chicago. The author, noting that ‘strategy is a source of risk to the firm and thus ought to be included within enterprise risk management [ERM], enterprise risk analysis and measurement of the firm’s value, proposes a detailed framework in which strategic considerations can be incorporated into a quantitative model of the firm.

Description: For the purposes of risk management and stress testing, we characterize a spectrum of plausible extreme events, that we dub Grey Swans, by introducing a probabilistic method involving the concentration of measure phenomenon. As a result, stress tests can be triaged according to severity, probability and, now, information-based plausibility.

Description: The essay briefly discussed the impacts from implementing ORSA to the main stakeholders in the insurance industry. Those stakeholders include: insurers, regulators, policyholders, investors, rating agencies, insurance industry employees and general public. Part of the essay collection "Risk Metrics for Decision Making and ORSA"