Upcoming Seminars

Past Seminars

Communicating Quantitative Concepts to a Non-Quantitative Audience
Tuesday, September 20, 2011
In recent years, actuaries have been often been asked to step up their marketing and communications skills. How does one explain quantitative concepts to someone who has never taken calculus? This interactive seminar will give actuaries the opportunity to practice describing terms like “variance” to a marketing executive and learn some key communications “Do’s” and “Don’ts” from professionals in the field.

Time for informal networking will be offered before and after the program.

Current Topics in Longevity Risk Modeling and Life Settlement Annuities
Tuesday, August 16, 2011
Dr. Wai Tang will speak on “A New Approach to Longevity Risk Modeling”. He will present a new methodology which utilizes modern data mining technology to predict the life expectancy and mortality curve for (impaired) elders. Besides medical records, publicly-available lifestyle variables such hobbies, mental and physical activities are incorporated into the model. The p-value of the overall model is less than 0.03 and interactions between risk factors are strong. A/E of this model on the validation population achieves 96% or higher duration by duration.

Anthony Riccardi will speak on “Calculating the Actuarial Present Value of a Settlement Annuity”. An expert’s determination of the actuarial present value of a settlement annuity is an important decision factor for a plaintiff during the negotiated settlement of either a wrongful death or personal injury case. When presented with a settlement annuity, a plaintiff has an opportunity to receive periodic and secured benefit payments. The plaintiff is also measurably advantaged by an income tax exemption on the periodic benefit payments if the annuity contract terms are in compliance with Internal Revenue Code regulations. Generally accepted actuarial practice requires that the present value calculations, first, respect the annuity mode of benefit payments and, secondarily, make adjustments in the wage replacement figures that reflect the plaintiff’s advantage due to the income tax exemption. Calculations are illustrated for three settlement annuity benefit payment modes.