In this online exclusive, writer Bill Bade, FSA, MAAA, contends that, to stay relevant, insurance carriers should embrace at least four key market forces driving changes in the insurance industry: customer expectations, technology, demographics and regulatory oversight. These changes create investable opportunities as well as potential challenges.
“If our industry started with a blank sheet of paper, an unlimited amount of funding and unlimited resources, what could we build in the next five years?” Bade questions. “It would certainly be something different than what we have today. And to be certain, there are efforts to move our industry incrementally forward. I sincerely hope actuaries, uniquely positioned with a keen understanding of risk and an analytical approach to problem-solving, will be among the first to support change within insurers.”
Destination Toronto for the Annual Meeting
Evolve with today’s disruptive technology. Empower yourself through innovation. Elevate the actuarial profession. It all begins at the 2019 SOA Annual Meeting & Exhibit, Oct. 27–30, in Toronto, the provincial capital of Ontario. Learn new techniques, examine current industry trends and witness the technology defining the actuarial future. Embrace it all—the informative sessions, the innovative exhibits and the unmatched networking opportunities.
Looking at the Big Picture
Robert Eaton, FSA, MAAA, shares how he uses predictive analytics to create models with a big-picture focus, such as determining the causes of long-term care claims. Eaton discusses how the SOA Predictive Analytics Certificate Program benefits both actuaries and employers.
U.S. Population Mortality Observations
The SOA posted early insights of 2018 population mortality in the United States, which notes the lowest mortality rate in the country’s history.
Access the SOA report exploring behavioral science and emerging underwriting techniques.
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