This new resource offers members an easy way to search for recently-released regulatory changes. It will provide regulatory updates for U.S. actuaries practicing in health and life. The web-based resource was developed in response to input from members about the challenges of responding to regulatory change. As part of its work to advance actuarial knowledge, the Society of Actuaries (SOA) seeks to inform public policy development and public understanding through research and education.
The SOA developed a resource for actuaries when working with preferred class structure programs. The Relative Risk Tool (RR Tool) is used to determine the preferred class relative risk value, referred to as a relative risk score. Actuaries can use this score to determine an appropriate mortality table to use for valuation purposes. This score accompanies the 2015 Valuation Basic Tables and 2017 Commissioner’s Standard Ordinary (CSO) Tables.
Leaders Make the Future, by Bob Johansen, presents a 10-year forecast of the key future forces that will impact our world, pointing to the shift toward a global well-being economy, the growing impact of digital natives and the emergence of cloud-serve supercomputing. Johansen states that we live in a world characterized by volatility, uncertainty, complexity and ambiguity, where traditional leadership skills will not be enough.
“Bob Johansen, formerly of the Institute for the Future, based in Silicon Valley, makes the case in his book, Leaders Make the Future, that we have to be willing to help nurture companies that benefit multiple players,” explains Edward Cymerys, FSA, MAAA, chief actuary at Collective Health. “Some of the Silicon Valley startups have achieved dramatic improvements in areas that have been intractable problems areas for the industry. The health plans that partner with these companies will get a lift from their solutions and be able to focus their resources on other areas of competitive advantage.”