Actuaries can improve their actuarial model management by applying product management principles.
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The Actuarial Wasted Time Survey Results for 2020 are presented. Actuaries rank Data and Model Management tasks as more impactful than Hardware and Software Management tasks. Read more by downloading the full survey.
Software development practices such as different environments, concurrent documentation, and expansive testing can help actuaries improve their work output.
Actuaries can improve the effectiveness of their models, much like humans pursue self-improvement. This framework gives actuaries a structure for prioritizing those improvements.
After converting an actuarial model to a new system, what happens afterwards? This article gives practical steps to show value of the project and leverage learnings for future success.
Ending a contract with an actuarial software vendor doesn't have to be so hard. Follow these 6 tips to keep focused on the good to come.
When it's time to compare outputs from a modern actuarial system to your prior version, hitting all 7 of these stages will ensure a smooth transition.
Some reasons for choosing a modern actuarial system are good: they allow you to be a better actuary. Are there some bad reasons? Absolutely. Read this to avoid making a big mistake.
Actuaries evaluating modern actuarial systems will need to compare many dimensions. These will help actuaries understand differences between systems.
Actuaries making a case for a modern actuarial system will need structure to their argument. This article outlines a straightforward way to think about the necessary elements.
There are many signs an actuary may need to update their actuarial modeling system. Here are 4 more.
There are many signs an actuary may need to update an actuarial modeling system. Here are 4.
There is one dimension of your actuarial modeling system that’s often viewed as a point of contention. This is the range of options for allowing model changes. Here we’re going to call that the Flexibility vs. Control Spectrum (FVCS). The basic point is this: either your actuarial system can be totally locked-down (Controlled), or it […]
(We’re not going to say “best”, because, frankly, that’s a bit more arrogant than we wish to be.) One of our colleagues had a practice of typing his thoughts out as he was having them. Literally. He would document his thoughts in real-time, as he was having them. Not the I can’t believe it’s not […]
Change is hard. At least, that’s what we’ve been told. But sometimes change is easy; Way too easy! This is part 2 of our discussion on Model Governance. If you missed the first one, check it out here. Model Change Management can be a tough topic for many people. Model change management programs exist across […]
Model Governance? Sounds boring. Why do I need that? Well, in short, it’s about managing risk. Specifically model risk – the risk of adverse consequences resulting from reliance on a model that does not adequately represent that which is being modeled or that is misused or misinterpreted. That covers a fair amount of ground. If […]