How convexity and duration are used to solve real business problems. But before moving to that let’s first understand what convexity and duration actually is! Duration (or modified duration) is …
Introduction to Reinsurance and its application in R software
This post is by Mathematicacity. The link to the website is given below. https://mathematicacity.co.in Meaning of Reinsurance: Reinsurance is the insurance taken by the insurance companies itself. The reinsurance is …
IFOA vs IAI: Current trends and Future analysis
The new curriculum of 2019 brought huge changes in the IFoA & IAI exam structure. There are major debates over the changes in the structure of both the Actuarial Societies …
IFoA membership renewals 2019/2020
Members are reminded that the 2019/2020 subscription fee will become due for payment on 1 October and should be paid by 31 October to avoid any late payment fees.
CB1 Business Finance (CT2) Tips & Tricks
Clearing CB1 (formerly CT2) is not as hard as it looks. Business Finance provides the theory and application of corporate finance as well as the main elements of companies’ financial …
Insurtech startup Slope Software becomes the official modeling software for Actuarial & Analytics Consortium, LLC
SLOPE’s user-friendly interface attracts Principal and Chief Data Scientist from the Actuarial & Analytics Consortium to choose the platform as her consulting firm’s official modeling software.
Introduction to IFRS 17
The International Accounting Standards Board (IASB) published IFRS 17 on 18 May, which is designed to achieve the goal of a consistent, principle-based accounting for insurance contracts. The new Standard …
Father of Actuarial Science : William Morgan
Father of Actuarial Science: William Morgan. We who call ourselves actuaries owe so much to this legend William Morgan who was born in 25th May 1750 in Bridgend, Wales. William …
Seminar on Data Science and Analytics by Institute of Actuaries of India
Data Science, isn’t that something we hear now in our daily life and personally do not understand where we can use it to accelerate our work. The work of an …
FAIL. How to overcome failure in actuarial!
Actuarial Failure. Can you tell me one successful person, who got successful without facing failure in life? If everyone fails, will that be considered as failure or step in learning. …
Are you an IAI student looking for exemption from IFoA?
IFoA can grant exemptions from some of your exams if you have passed the Institute of Actuaries of India exams Students will have until 31 December 2022 to claim any …
Importance of Granularity in General Insurance
The first question occur to mind what is granualarity and how is it that important for a General Insurance business? Breaking down Granularity Granularity is subdivision. If the business is …
Industry Loss Warranties – ILWs
This is a short summary explaining Industry Loss Warranties (ILWs). ILW is explained in detailed in Actuarial SP7 subject (formerly ST7). Definition of ILW Industry loss warranties (ILWs) are a type of reinsurance contract where the basis of cover is not indemnity, i.e. repayment of actual losses suffered. Protection is based on the total loss arising from an event to the entire insurance industry rather than individual insured company’s own losses. Trigger Event for ILWs The original size of the industry loss is used as a trigger for eligibility to a recovery. …
Some Questions to prepare for Actuarial Job Interviews
We get a lot of questions to tell you about the Interview Questions that are asked in General Interviews if you have applied for internships or jobs in Actuarial companies …
Latent claims: Claims which insurer not get to decide
What are Latent Claims? Latent Claims derive from the perils that were unforseen when the Insurer wrote the policy and is applied to claims that become known about some years …