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Want to Be a Great Actuary? Try Failing

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Actuarial education is complex—involving trial and error and an ever-increasing level of difficulty. And yet many who are drawn to the field may not be prepared for the adversity presented by actuarial studies and training. But actuary Shubhanjali Gupta has a message for her colleagues: fail early and often. She says that failing helped her […]

Why Physicians Need to Overcome Fears About Virtual Care

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While consumers have replaced many physical shopping trips with online shopping, they’re mostly still forced to visit a doctor in-person. Physicians have been slow to adapt to mobile and video technology, citing liability issues and the hardware costs associated with providing virtual care. But what if virtual appointments could help medical centers increase revenue while […]

How Women Can Counteract the Social Security Gap

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Most professionals are aware of the gender pay gap: a series of factors contributing to women earning less in the workplace. But fewer have realized the resulting Social Security gap, a phenomenon that also provides women with less assistance in retirement than their male peers. What are the main drivers of this benefit inequality? And […]

Insurance Falls Behind Banking, Retail in Customer Service Rankings

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Though some insurance companies have placed a priority on customer service in recent years, consumers at large do not give the sector high marks. According to a new survey from the UK, respondents rate industries like hospitality, retail, food service, air travel and banking more highly for service and personal attention. What are today’s consumers […]

Millennials Will Share More Data for Lower Insurance Premiums

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While recent headlines and legislation have focused on protecting consumers’ privacy rights, research shows that young consumers are actually willing to share their data—if rewarded with lower prices. In fact, nearly two-thirds of global consumers under the age of 34 say they would give more data to insurers in exchange for reduced insurance premiums. In […]

Public Entities Face Increasing Cybersecurity Threats

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Most Americans are familiar with recent data breaches at retailers. But our public entities face perhaps an even greater risk—they hold property records, personal data and voting information that are subject to attack. In fact, during the 2016 election, at least 39 state governments were targeted by hackers. With public entities more vulnerable than ever, […]

Ice Cannons and Missile Launchers Help Determine Insurance Risks

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With extreme weather on the rise, researchers are seeking to understand the specific risks of severe weather events. One insurance company, FM Global, employs an entire team of researchers who spend their days breaking things, setting fires and simulating natural disasters. How can insurers find out the true risks of severe storms and hurricanes? And […]

Actuaries Begin to Assess the Risks of Firearm Violence

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The American Medical Association recently announced that they consider firearm violence to be a “public health crisis.” As with other public health issues, this creates an opportunity for actuaries to play a role in assessing future risk. But how are actuaries and insurers reflecting firearm violence in their policies and pricing? And how can we […]

How This One Simple Device Changed the Actuarial Industry

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In the mid to late 1800s, Elizur Wright was a giant in the life insurance field. A Yale-educated mathematician, Wright wrote legislation that jump-started the industry in Massachusetts and nationwide, leading to his nickname, “the father of life insurance.” But once the legislation was in effect, Wright needed a way to do thousands of complex […]

How to Use External Data to Your Company’s Benefit

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Actuaries at small companies and startups are often asked to analyze data to predict future events. But what happens when a company like this just doesn’t have enough data—or is carving out a new market for which no data even exists? CEO and actuary Timothy Paris believes he’s found the answer: relying on external data […]