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…
In the early 1980s, I wandered aimlessly as a math major during my first two years in college at Penn State University. When I had no response to my dad’s question about my plans (I was tempted to say “just one word: plastics”), he suggested I consider becoming an actuary. Having never heard the word…
Given the news coverage of the Affordable Care Act (ACA) and ACA premium subsidies of late, you may have found yourself wondering, “How do ACA coverage and related subsidies really work?” For instance, you may have seen reports indicating significant increases in ACA premiums in 2026 and wondered, “How can that be possible?”1 In 2026,…
Reports and surveys indicate that the insurance industry is undergoing a profound distribution transformation. Traditional channels have served consumers well for decades; insurers have optimized for long product cycles, hierarchical channels and intermediary-driven sales. Yet consumers now live in an on-demand world, where insurers can extend their experiential strengths into digital-first moments. The gap between…