Justin Mosbo

An interesting interview by John Weber of Darcie Truttmann of Pinnacle Actuarial Resources, Inc. in the August issue of Best's Review. Key points: 1. New AICPA guidance requires management to better understand and support their reserve selections, especially when they differ from the actuary's central estimate. Management needs to explain why they are deviating from the central estimate if they do so. 2. The new guidance aims to increase management's confidence in actuarial estimates by encouraging more communication between management and actuaries. This may lead to actuaries' better understanding of exposures and risks, potentially improving their analysis and selections. 3. Improved communication is expected to help actuaries select appropriate benchmarks that correctly reflect the risks being estimated, leading to more accurate estimates overall. 4. When evaluating deviations from actuarial estimates, auditors should consider factors like changes in data, patterns of adverse development, and expected versus actual outcomes. Management should be prepared to explain and support these deviations. 5. The new guidance is expected to foster a more collaborative relationship between actuaries, management, and auditors and improve information sharing about risks, exposures, and changes in the company among all parties involved in the process. https://lnkd.in/em76qFPk

6

You won’t want to miss our next An Actuarial Advantage Book Club! Now is the time to dive into this resource, learn alongside other industry professionals, and strengthen your knowledge of fundamental actuarial topics. Our virtual book club meets via Zoom, and will be identical to our others, so in case you missed our past book clubs, or even individual sessions from past book clubs, now is your time to join us as we dive deeper into each chapter with the books editorial team. For more information about our upcoming book club, to sign up, and to request a copy of this resource, please click the link below: https://lnkd.in/enc2Q9tq #captiveinsurance #captives #riskmanagement #riskmanagementconsulting #srmc #propertyandcasualty #workerscompensation

18

With Acumen, you can have actuarially transformed data available directly in your data stack, updated on a regular cadence. If you don’t have actuaries, our solution can fill in the gaps. And if you have actuaries, our platform supplements their work, allowing your team to focus on your most business-critical priorities. With Acumen, everyone’s on the same page, working from the same source of truth with the most up-to-date, freshest data, customized to your needs. Want to see how it works? Start here: https://lnkd.in/eZspU4hT

22

The Talent Equation: Attracting and Retaining the Best. The demand for actuarial talent is soaring, but are companies doing enough to attract and retain the best? It’s not just about competitive salaries—culture, growth opportunities, and work-life balance are key. What’s your strategy for winning the talent race?

CNBC quotes the SOA Research Institute’s Lisa Schilling, FSA, EA, MAAA, FCA, about the updated Actuaries Longevity Illustrator from the SOA and American Academy of Actuaries. Read the article today. https://cnb.cx/3VVf9oc The tool looks at #retirementsecurity https://lnkd.in/gAV4jvYA #actuaries #actuaryresearch #longevityrisk Lisa Schilling, FSA, EA, FCA, MAAA

20

2 Comments

Right-brained #actuaries? They do exist, and we need one. We seek an Actuarial https://lnkd.in/gGt3Bra2 (or Senior Actuarial) Solutions Consultant https://lnkd.in/gZvn97Gs to help our clients achieve next-level business results from our industry-leading insurtech tools. This is a high-profile, external-facing SME role that demands complex data and actuarial analysis, plus a near-uncanny knack for asking the right business questions at the right times. So if you triple-check, verify, certify, validate, and corroborate—but simplify, edify, speculate, educate, and ideate even more—then you may be just the right right-brained left-brainer for this role. #Actuary #Insurtech

19

Ever wondered how actuaries use math and statistics to calculate a profitable insurance premium? Join us tomorrow to learn about this process and get an in-depth look at the actuarial science career path. Featuring guest speakers from SECURA Insurance, Tyler Boogaard, ACAS and Nate Pritzl!

4

1 Comment

In the first of our new VBA mini-series, John Nicholls dives into class modules in a VBA context, comparing VBA to other languages with classes and recommending areas where regular actuarial work might benefit more from using them. https://lnkd.in/eNQumHCV #VBA #VBAClassModules

26

Best quote from the Society of Actuaries Health meeting yesterday. "Medicare Advantage risk deals should be 80/20, so the payers still has skin in the game." To be clear, ACO take 80% of shared savings / loss, not 80% of premium. This keeps the incentives aligned for both the ACO and the payer. Payers have a vast amount of knowledge on the markets, pricing, risk management etc. If the payer / ACO relationship is reduced to an administrative service contract both parties lose.

73

7 Comments