Data science and actuarial science are both multidisciplinary in nature; they extract insights from data and require strong understanding of the underlying business processes and domain knowledge to be successful at accomplishing the task. A deeper understanding of data science can allow actuaries to leverage data science results in their work and find more applications in emerging practice areas.
With traditional banking models under increasing threat the demand for actuarial expertise is growing. Many actuaries have the analytical know-how to be successful in banking - what often lacks is the support and public awareness to get there.
A 2020 survey of CIA members shows that just under one third of respondents account for climate change risks in their actuarial work, a proportion similar to that indicated in a 2019 survey. These results point to a continued need in the profession for additional information and guidance on the subject.
In a newly published CIA factsheet, we delve deeper into pension commuted values.
In this article, Bruce Langstroth, Michael Wang, and Valerio Valenti discuss the considerations for the selection of the adverse scenarios, their potential ripple effects, and corrective management actions, given the COVID-19 pandemic.
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