Actuarial Modeling Practices Grow Significantly in Importance
With increased regulatory demands from all directions and more reliance on models, Deloitte outlines several industry-leading practices to avoid costly errors.
March 21, 2013
As the life insurance and annuity industries move toward model-based approaches to reserve and capital valuation, actuarial models are increasing in complexity and sophistication while the imperative to avoid modeling errors also increases, according to a recent report from Deloitte, titled “Actuarial Modeling Controls: A Survey of Actuarial Modeling Controls in the Context of a Model-Based Valuation Framework.”
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