Description: The Risks Analytics Symposium 2022: Actuarial Perspectives on Climate Change was a hybrid half-day event where university students, as well as academics and industry professionals, had the opportunity to network and view live discussion panels in-person at UIUC or virtually through Zoom.

Description: The paper describes a cost-benefit analysis to determine the value of electronic health records (EHRs) in life insurance accelerated underwriting programs. Sample cases from a carrier were underwritten pre-EHR and post-EHR and the mortality savings estimates from risk class changes using EHRs was compared to procurement costs. Results were developed to cover a range of scenarios. Factors to consider for carriers evaluating the cost-effectiveness of using EHRs in their own accelerated underwriting programs are also described.

Description: In this article, the author provides an update, as of April 2023, on the Reinsurance Section’s sponsored research in process and studies recently completed.

Description: The article describes recently proposed regulations on the deduction of partially-worthless debts under section 166. It also provides background on the comments submitted by the insurance industry in response to the proposed regulations and additional guidance issued by Treasury and the IRS following the publication of the proposed regulations.

Description: The article introduces two previously published articles.

Description: As the insurance industry continues to evolve due to a pandemic and rapidly changing economic and regulatory conditions, the role of data scientists and actuaries has become increasingly important. In an interview with the Atidot data science and actuarial team, we discuss what it is like to work at an InsurTech, how data scientists and actuaries can collaborate, and look at some concrete technical examples of where the innovation is having an impact. This article explores what collaboration can look like and how the role of data science and actuary may evolve in the InsurTech industry in the future.

Description: Summary of the annual cost-of-living adjustment and changes in other wage-indexed programs parameters for Social Security in 2024.

Description: Accounting Standards Update No. 2018-12, Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI) has been effective for most large, public business entities since 2023 and will be effective for other insurers in 2025. While the guidance clarifies the need for incorporating claim liabilities and premium accrual balances in the liability for future policy benefits (LFPB) under LDTI, companies may still have questions given there are limited details available around the techniques used in practice. In this article, we demonstrate the need for incorporating claim liabilities and premium accrual balances in the LFPB under LDTI. We also look at two potential approaches of incorporating these accrual balances.

Description: Artificial intelligence (AI) at the heart of new digital tools allows actuaries to extract structured data useful for creating more precise risk assessment models. This technology sits best alongside the expertise of insurance professionals who have years of experience in the industry. RGA’s partnership with DigitalOwl is an example of how AI combines with human knowledge for the best outcomes.

Description: The momentum in value-based care has produced an opportunity for actuaries to become pioneers in health care