Description: Companies exempt from PBR can benefit by borrowing ideas and lessons learned from companies that perform and operate in a PBR world. The presenters will discuss VM requirements related to governance policies, as well as assumption and margin setting, plus model validations and controls which can benefit smaller insurance companies. Attendees will learn about new actuarial practices and how the PBR methodology and Valuation Manual can influence their work and highlight available resources.

Description: This presentation from the 44th Actuarial Research Conference held in 2009 in Madison, Wisconsin is about the importance of research in industry. It describes the differences between instinctive and information driven business decision making models. It uses a case study of Assurant Health to discuss the infrastructure needed for processing data and list samples of external data sources. From Actuarial Research Clearing House 2010, Vol. 1.