The actuarial Profession in india has witnessed a sea change in the decade after insurance liberalization. it has gone from being described as a “moribund profession” to being a “dynamic and lucrative” one.

Presentations for the SOA 2011 Annual Meeting & Exhibit, held October 16-19, 2011 in Chicago, IL. have been made available at the SOA website.

This Milliman Insight paper provides an actuarial view of high cost patients and how their incurred medical costs are allocated between the health plan and the member. We present the cost burden high cost patients incur under less generous coverage as well as actuarially equivalent benefit design changes that can protect high cost patients. The authors chose to define high cost or catastrophic patients as those who incur over $100,000 in allowed medical claim costs in a year. This paper was commissioned by Genentech, Inc.

Dynamic lapse behavior is an important factor in variable annuity (VA) pricing and valuation. A company can regularly collect lapse data to form the basis for data mining, which can lead to fundamental insights on policy lapse behavior.

This paper describes the principles of data mining, using a realistic illustrative example, and explores the issues of data credibility, relevance, and formula fitting.