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…
The intense interest surrounding glucagon-like peptide-1 (GLP-1) and other incretin-based medications is impossible to ignore. They have received significant public and media attention due to their potential implications for obesity and related conditions. Some commentators have touted them as “everything drugs” that will rewrite the trajectory of human mortality and reverse stagnating life expectancy trends.…
The Emerging Risk Survey has become a cornerstone initiative of the Society of Actuaries (SOA) Research Institute and the Casualty Actuarial Society (CAS), offering a yearly snapshot of the most pressing risks facing the insurance and financial services industries. The 19th annual survey had more than 350 respondents. In addition, more than 100 of those…
GLP‑1 (glucagon-like peptide-1) receptor agonists have rapidly transformed the landscape of obesity and diabetes management. Initially developed for diabetes, these drugs have recently seen a surge in popularity, largely due to widespread media coverage and endorsements as a “miracle cure” for weight loss. GLP‑1 drugs received initial regulatory approval in 2014, and 2021 is typically…
Editor’s note: Society of Actuaries (SOA) CEO Greg Heidrich originally presented some of this content about the changing industry landscape during the 2026 ReFocus Conference, which was sponsored by the SOA and the American Council of Life Insurers (ACLI). We live in a world of great change that is often disorienting, confusing and at times…
In many insurance lines, periods of stress follow a familiar pattern: deteriorating experience prompts corrective action, which alters behavior, and those behavioral changes further destabilize results. At times, actuaries recognize this dynamic in hindsight, after loss ratios, lapses or utilization trends have already exceeded expectations. In the post-pandemic environment, this pattern has become more pronounced…
As reports and articles detail, Canada’s retirement system is evolving, driven by shifting demographics, market conditions, and longer lifespans, all of which are reshaping what retirement looks like and how Canadians and their employers prepare for it. In this environment, innovation in plan design, investment strategy and plan management is a key pillar that helps…