Description: Chapter 6 of the Models for Retirement Policy Analysis. This chapter describes DYNACAN, a dynamic microsimulation model developed and maintained in the Office of the Chief Actuary OCA of the Canada Pension Plan. It simulates the basic demographic and economic events relevant for calculation of CPP contributions and benefits. The strengths and limitations of the approach are addressed as well as accessibility and ease of use.

Description: This paper discusses a theoretical framework for Enterprise Risk Management, risk dynamics within property-casualty insurance companies, empirical findings on widely used risk models, and examples of effective risk models.

Description: A primer on extreme event modeling and mitigation for practitioners, it covers the complete cycle of extreme event risk management, from identifying experience data sources, to extreme event detection, to modeling and dependence analysis, and finally to monitoring and mitigation.

Description: This project shows how to use agent-based models to simulate the behaviors of agents in complex health systems.

Description: This research report is a summary of an online survey and follow-up discussions with survey respondents on the current state of actuarial modeling controls within U. S. and Canadian life insurance and annuity companies. The current state was then compared to the results from the 2012 survey on this topic to examine the evolution in actuarial model controls and governance. The report also provides an industry assessment and proposes considerations for enhancing the current state towards a well-controlled governance framework.

Description: This project shows how to use agent-based models to simulate the behaviors of agents in complex health systems.

Description: This study examines and describes parameter uncertainty. The paper provides structures to incorporate parameter uncertainty in quantifying risk.

Description: The Mortality Improvement subgroup of the American Academy of Actuaries’ Work Group and the Society of Actuaries’ Mortality and Longevity Oversight Advisory Council released a recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes. This recommendation has been adopted by the NAIC’s Life Actuarial Task Force.

Description: To complement the limitations posed by the static nature of current survey papers in cyber risk literature and to facilitate cyber risk research, this project features a Natural Language Processing (NLP)-powered repository and search tool “CyLit” built by the authors.

Description: This paper is an introduction to AI technology designed for actuaries to understand how the technology works, the potential risks it could introduce, and how to mitigate risks.