Description: As our industry rapidly adopts more advanced technologies, today's actuaries have more data and greater analytical capabilities than ever before. Nevertheless, these advancements come with their own set of challenges.Come explore the tools and techniques to optimize your processes and avoid common pitfalls so that you can get the most out of your experience studies.

Description: This article talks about partnering with other risk professionals and the importance of research into the nature of risk and the responses to risk events.

Description: The Joint Risk Management Section conducted its fourth survey of emerging risks in fall 2010 in light of the BP oil spill which brought the impact of various risk combinations to the fore.

Description: This is the SOA website page displaying the table of contents for Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications series of essays.

Description: The last 20 years of global interest rate experience has low interest rates for long periods of time ('low for long'), negative interest rates, strange yield curve shapes, and now the most rapid increase in interest rates in our history. What is it we should be focused on as risk managers? Low for long, high rates due to prolonged inflation, or some blend of the two? The session will discuss our interest rate experience and the factors that appear to be dominant for the next decade. The session will address how one establishes a set of stylized facts to guide the development of a suitable interest rate model and how calibration targets can be determined. Discussion will then move to the suitability of existing interest rate models for capturing the real-world risks that actuaries and other finance professionals are concerned with. Are there interest rate models that are fit for purpose given the past 20 years of experience? A selection of candidate models will be discussed and illustrated.

Description: "Most patients enter the health care system through their primary care provider or through the Emergency Room or an Urgent Care Center. How an emergency room is structured, managed, and provides care is one of the major forces impacting the total cost of care. Yet it is often an after-thought and ignored by both health plans and health systems. In reality, the structured introduction of efficient practices can substantially reduce the quantity and cost of health care services. Further explore useful information to better understand and see how there are still substantial opportunities for improvement."

Description: The life insurance industry is facing a rapidly changing landscape, with several emerging risks demanding the attention of actuaries and industry professionals. While actuaries commonly examine historical experience to guide our estimates of future outcomes, we are often faced with evidence that some of the forces that dictated past performance no longer persist and in some instances may even turn into contrary forces. This session aims to explore the key challenges and opportunities presented by risks with limited historical context, and discuss strategies to effectively manage them. We will delve into critical emerging risk areas, such as interest rate and asset risk, the rise of AI, climate change, predictive analytics in underwriting, and more. The session will feature speakers who are experts in managing risk, as well as results from interviews with top corporate risk professionals, such as CROs and ERM leads from major insurance and reinsurance companies. Attendees will gain valuable insights into emerging risks and practical strategies to navigate the evolving life insurance landscape.

Description: Risk management techniques do not include system science. System science requires that the uncertainty of the world is incorporated into the results. The articles explains the difference between risk and uncertainty. Learn how risk practices create an overoptimistic view of future outcomes.

Description: A collection of essays written on the current financial crisis, lessons learned and future implications.

Description: This paper examines how incentives created by management structures and performance measurement systems affect a corporation’s risk management decisions.