I recently finished economist Frank H. Knight’s 1921 book, “Risk, Uncertainty, and Profit.” Even though it was written more than a century ago, its relevance today, in my view, remains significant. Many of its core insights on business and decision-making are sometimes less emphasized in modern discussions. This article is not a book review, but…
Typically celebrated in May, Asian American, Native Hawaiian and Pacific Islander (AANHPI) Heritage Month is often a time to celebrate food, culture and community. But for those of us working in the actuarial profession, it can also be a time to reflect on something less visible: perspective. In 2026, as headlines focus on volatile interest…
As artificial intelligence (AI) advances, it is worth pausing to note that the actuarial profession has successfully navigated technological disruption before. Using primary tools such as manual calculators and logarithmic tables, the actuary of yesteryear checked and rechecked mortality tables, premiums and reserves estimates, albeit via laborious computation. When the room-sized mainframes arrived—with processing speeds…
EDITOR’S NOTE This article is based on a presentation by EY Japan at an Institute of Actuaries of Japan open discussion forum on Nov. 7, 2025. The Japanese life insurance market, with its immense scale and unique regulatory landscape, is undergoing a profound transformation in its reinsurance approach. Reinsurance has evolved from a simple tool…
While finishing my final undergraduate semester as a math major at the University of North Texas, I decided to experiment with artificial intelligence (AI) to enhance my study techniques. This article walks through my journey of what inspired me to start using AI (specifically, large language models (LLMs)), and some of the lessons I learned.…
The actuarial profession and the Society of Actuaries (SOA) have long been defined by their ability to adapt, innovate and lead through change. Over the past decade at the SOA, we have expanded our global presence, enhanced our educational pathways, and reinforced our commitment to preparing actuaries to lead in a world shaped by emerging…
I have had 27 managers in 25 years. There is much I have learned about leadership from each of them. This is how I came to average more than one manager per year over a quarter-century career: I rotated through positions as an actuarial student. Each rotation came with a new manager. I applied for…
For some actuarial professionals working toward their Society of Actuaries (SOA) ASA and FSA designations, the exam process can, no doubt, feel a bit mysterious. How are questions selected? Who decides what makes it onto the exam? What happens behind the scenes during grading? For The Actuary’s June focus on education, Tiana Zhao, a vice…
Across industries, actuarial modernization is increasingly viewed as a strategic priority. Some reports show billions being allocated worldwide to these efforts, highlighting their importance to companies’ strategies and competitiveness. The Actuary has published other articles on the topic of actuarial modernization, including: Actuarial Modernization Errors, which looks at why transformation projects may fail and how…
In climate-speak, “mitigation” refers to actions that lower emissions that increase the total amount of greenhouse gases, slowing the rate or level of human-caused global warming and addressing the root causes of climate-related risks. In contrast, adaptation involves adjusting to current or projected climate conditions to reduce harm or capitalize on its beneficial opportunities. It…