# Actuarial

*/Departments/Actuarial*

## Neighborhood

### Parent

- [Reinsurance Company](/CompanyTypes/Reinsurance_Company) — parent · CompanyTypes

### Siblings

- [Actuarial Department](/Departments/Actuarial_Department) — siblings · Departments
- [Actuarial Governance](/Departments/Actuarial_Governance) — siblings · Departments
- [Ceded Reinsurance](/Departments/Ceded_Reinsurance) — siblings · Departments

### Related (delivered by)

- [Rating Engine Configuration](/Processes/Rating_Engine_Configuration) — delivered by · Processes
- [Prepare Rate Filings](/Processes/Prepare_Rate_Filings) — delivered by · Processes
- [Loss Reserving and Actuarial Valuation](/Processes/Loss_Reserving_and_Actuarial_Valuation) — delivered by · Processes
- [Set-up non-proportional XL treaty master](/Processes/Set-up_non-proportional_XL_treaty_master) — delivered by · Processes
- [Construct probability tables for events such as fires, natural disasters, and unemployment, based on...](/Tasks/Construct_probability_tables_for_events_such_as_fires,_natural_disasters,_and_unemployment,_based_on...) — delivered by · Tasks
- [Generate enrollment forecast](/Processes/Generate_enrollment_forecast) — delivered by · Processes
- [Manage reserving controls, policies and procedures](/Processes/Manage_reserving_controls,_policies_and_procedures) — delivered by · Processes
- [Validate associated reported amounts within each risk based capital risk categories](/Processes/Validate_associated_reported_amounts_within_each_risk_based_capital_risk_categories) — delivered by · Processes
- [Review compiled data on operating costs and revenues to set rates.](/Tasks/Review_compiled_data_on_operating_costs_and_revenues_to_set_rates.) — delivered by · Tasks
- [Evaluate possibility of losses due to catastrophe or excessive insurance.](/Tasks/Evaluate_possibility_of_losses_due_to_catastrophe_or_excessive_insurance.) — delivered by · Tasks
- [Develop and maintain benchmark prices](/Processes/Develop_and_maintain_benchmark_prices) — delivered by · Processes
- [Document reserve setting protocols and responsibilities](/Processes/Document_reserve_setting_protocols_and_responsibilities) — delivered by · Processes
- [Apply business conditions, operating environment and other assumptions](/Processes/Apply_business_conditions,_operating_environment_and_other_assumptions) — delivered by · Processes
- [Analyze statistical information to estimate mortality, accident, sickness, disability, and retiremen...](/Tasks/Analyze_statistical_information_to_estimate_mortality,_accident,_sickness,_disability,_and_retiremen...) — delivered by · Tasks
- [Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help ...](/Tasks/Collaborate_with_programmers,_underwriters,_accounts,_claims_experts,_and_senior_management_to_help_...) — delivered by · Tasks
- [Assemble sets of assumptions, and explore the consequences of each set.](/Tasks/Assemble_sets_of_assumptions,_and_explore_the_consequences_of_each_set.) — delivered by · Tasks
- [Manage insurance risk](/Processes/Manage_insurance_risk) — delivered by · Processes
- [Design, review, and help administer insurance, annuity and pension plans, determining financial soun...](/Tasks/Design,_review,_and_help_administer_insurance,_annuity_and_pension_plans,_determining_financial_soun...) — delivered by · Tasks
- [Calculate premiums, refunds, commissions, adjustments, or new reserve requirements, using insurance ...](/Tasks/Calculate_premiums,_refunds,_commissions,_adjustments,_or_new_reserve_requirements,_using_insurance_...) — delivered by · Tasks
- [Manage rating tools](/Processes/Manage_rating_tools) — delivered by · Processes
- [Discuss risk and sensitivity results](/Processes/Discuss_risk_and_sensitivity_results) — delivered by · Processes
- [Validate rate load and internal system consistency](/Processes/Validate_rate_load_and_internal_system_consistency) — delivered by · Processes
- [Update risk scores assumed in pricing](/Processes/Update_risk_scores_assumed_in_pricing) — delivered by · Processes
- [Upload information into state rating system(s)](/Processes/Upload_information_into_state_rating_system(s)) — delivered by · Processes
- [Revise and update reserve and liability determination procedures for regulatory or controls related items](/Processes/Revise_and_update_reserve_and_liability_determination_procedures_for_regulatory_or_controls_related_items) — delivered by · Processes
- [Review claim experience](/Processes/Review_claim_experience) — delivered by · Processes
- [Record and report CMS true-up](/Processes/Record_and_report_CMS_true-up) — delivered by · Processes
- [Refine premiums as needed](/Processes/Refine_premiums_as_needed) — delivered by · Processes
- [Record quantified risk amounts in models](/Processes/Record_quantified_risk_amounts_in_models) — delivered by · Processes
- [Rate renewed policies](/Processes/Rate_renewed_policies) — delivered by · Processes
- [Rate new policies](/Processes/Rate_new_policies) — delivered by · Processes
- [Quantify risks in risk based capital formula and worksheets](/Processes/Quantify_risks_in_risk_based_capital_formula_and_worksheets) — delivered by · Processes
- [Perform risk based capital and other solvency based reporting](/Processes/Perform_risk_based_capital_and_other_solvency_based_reporting) — delivered by · Processes
- [Perform liability and insurance reserve valuations](/Processes/Perform_liability_and_insurance_reserve_valuations) — delivered by · Processes
- [Perform calculations per actuarial and regulatory standards](/Processes/Perform_calculations_per_actuarial_and_regulatory_standards) — delivered by · Processes
- [Obtain reinsurance support](/Processes/Obtain_reinsurance_support) — delivered by · Processes
- [Monitor reserve setting and claim reconciliation procedures](/Processes/Monitor_reserve_setting_and_claim_reconciliation_procedures) — delivered by · Processes
- [Manage reinsurance](/Processes/Manage_reinsurance) — delivered by · Processes
- [Manage reserves compliance](/Processes/Manage_reserves_compliance) — delivered by · Processes
- [Manage experience rating](/Processes/Manage_experience_rating) — delivered by · Processes
- [Manage and Process Risk Adjustments](/Processes/Manage_and_Process_Risk_Adjustments) — delivered by · Processes
- [Manage Life Risk](/Processes/Manage_Life_Risk) — delivered by · Processes
- [Manage Health Risk (non-life)](/Processes/Manage_Health_Risk_(non-life)) — delivered by · Processes
- [Manage Disability Risk (non-life)](/Processes/Manage_Disability_Risk_(non-life)) — delivered by · Processes
- [Manage ORSA regulatory compliance process](/Processes/Manage_ORSA_regulatory_compliance_process) — delivered by · Processes
- [Manage Non-Life Risk](/Processes/Manage_Non-Life_Risk) — delivered by · Processes
- [Issue actuarial opinion by qualified actuary](/Processes/Issue_actuarial_opinion_by_qualified_actuary) — delivered by · Processes
- [Issue actuarial memorandum by qualified actuary](/Processes/Issue_actuarial_memorandum_by_qualified_actuary) — delivered by · Processes
- [Finalize and file risk based capital report](/Processes/Finalize_and_file_risk_based_capital_report) — delivered by · Processes
- [File with department of insurance](/Processes/File_with_department_of_insurance) — delivered by · Processes
- [Evaluate reinsurance requirements](/Processes/Evaluate_reinsurance_requirements) — delivered by · Processes
- [Evaluate impact of endorsements on policy premiums](/Processes/Evaluate_impact_of_endorsements_on_policy_premiums) — delivered by · Processes
- [Evaluate impact of cancellation on policy premiums](/Processes/Evaluate_impact_of_cancellation_on_policy_premiums) — delivered by · Processes
- [Develop pricing schemes for managed care organizations](/Processes/Develop_pricing_schemes_for_managed_care_organizations) — delivered by · Processes
- [Develop capitation programs](/Processes/Develop_capitation_programs) — delivered by · Processes
- [Determine premiums](/Processes/Determine_premiums) — delivered by · Processes
- [Determine policy conditions](/Processes/Determine_policy_conditions) — delivered by · Processes
- [Define insurance benefit obligations](/Processes/Define_insurance_benefit_obligations) — delivered by · Processes
- [Coordinate experience analysis with medical management](/Processes/Coordinate_experience_analysis_with_medical_management) — delivered by · Processes
- [Conduct actuarial services](/Processes/Conduct_actuarial_services) — delivered by · Processes
- [Calculate rates](/Processes/Calculate_rates) — delivered by · Processes
- [Compile rate filing documentation](/Processes/Compile_rate_filing_documentation) — delivered by · Processes
- [Compile rate assumptions and documentation](/Processes/Compile_rate_assumptions_and_documentation) — delivered by · Processes
- [Compile documentation associated with each risk based capital component](/Processes/Compile_documentation_associated_with_each_risk_based_capital_component) — delivered by · Processes
- [Collect data related to Medicare and exchange business](/Processes/Collect_data_related_to_Medicare_and_exchange_business) — delivered by · Processes
- [Audit reserve setting procedures](/Processes/Audit_reserve_setting_procedures) — delivered by · Processes
- [Achieve regulatory approval for pricing](/Processes/Achieve_regulatory_approval_for_pricing) — delivered by · Processes

### Processes it runs

- [Determine reserves required](/Processes/Determine_reserves_required) — runs · Processes
- [Claims Reserve Management](/Processes/Claims_Reserve_Management) — runs · Processes
- [Capital Adequacy Planning](/Processes/Capital_Adequacy_Planning) — runs · Processes
- [Policy Pricing and Rating](/Processes/Policy_Pricing_and_Rating) — runs · Processes
- [Conduct Experience Studies](/Processes/Conduct_Experience_Studies) — runs · Processes
- [Actuarial Pricing Model Development](/Processes/Actuarial_Pricing_Model_Development) — runs · Processes
- [Actuarial Modeling](/Processes/Actuarial_Modeling) — runs · Processes
- [Prepare Statutory Actuarial Opinions](/Processes/Prepare_Statutory_Actuarial_Opinions) — runs · Processes
- [Produce Statutory Actuarial Valuations](/Processes/Produce_Statutory_Actuarial_Valuations) — runs · Processes

### Measured by

- [Pricing Adequacy Margin](/Metrics/Pricing_Adequacy_Margin) — measured by · Metrics
- [Model Validation Pass Rate](/Metrics/Model_Validation_Pass_Rate) — measured by · Metrics
- [Pricing Adequacy](/Metrics/Pricing_Adequacy) — measured by · Metrics
- [Loss Ratio Forecast Accuracy](/Metrics/Loss_Ratio_Forecast_Accuracy) — measured by · Metrics
- [Reserve Adequacy Ratio](/Metrics/Reserve_Adequacy_Ratio) — measured by · Metrics

### Staff

- [Actuarial Modeler](/JobTypes/Actuarial_Modeler) — staff · JobTypes
- [Actuarial Modeling Specialist](/JobTypes/Actuarial_Modeling_Specialist) — staff · JobTypes
- [Chief Actuary](/JobTypes/Chief_Actuary) — staff · JobTypes
- [Valuation Actuary](/JobTypes/Valuation_Actuary) — staff · JobTypes
- [Reserving Actuary](/JobTypes/Reserving_Actuary) — staff · JobTypes
- [Pricing Actuary](/JobTypes/Pricing_Actuary) — staff · JobTypes
- [Actuarial Analyst](/JobTypes/Actuarial_Analyst) — staff · JobTypes

### Problems this exposes

- [reserve-adequacy sign-off authority undefined between actuarial and finance, so the booked ratio diverges from best-estimate](/Problems/reserve-adequacy_sign-off_authority_undefined_between_actuarial_and_finance,_so_the_booked_ratio_diverges_from_best-estimate) — exposes problem · Problems
- [Reserve Adequacy Ratio can't be signed until statutory valuation reconciles to the controller's GL balance actuarial doesn't own](/Problems/Reserve_Adequacy_Ratio_can't_be_signed_until_statutory_valuation_reconciles_to_the_controller's_GL_balance_actuarial_doesn't_own) — exposes problem · Problems
- [Pricing Adequacy held against DOI-approved rates whose filing-to-approval lag the regulator, not actuarial, controls](/Problems/Pricing_Adequacy_held_against_DOI-approved_rates_whose_filing-to-approval_lag_the_regulator,_not_actuarial,_controls) — exposes problem · Problems
- [adequacy measured on rate exhibits re-derived per state, so one assumption change cascades into inconsistent numbers](/Problems/adequacy_measured_on_rate_exhibits_re-derived_per_state,_so_one_assumption_change_cascades_into_inconsistent_numbers) — exposes problem · Problems
- [Model Validation Pass Rate gated on a model-risk (SR 11-7) governance calendar actuarial doesn't control](/Problems/Model_Validation_Pass_Rate_gated_on_a_model-risk_(SR_11-7)_governance_calendar_actuarial_doesn't_control) — exposes problem · Problems
- [pass rate scored on packaged evidence, not reproducibility, when assumptions live in prior analysts' workbooks](/Problems/pass_rate_scored_on_packaged_evidence,_not_reproducibility,_when_assumptions_live_in_prior_analysts'_workbooks) — exposes problem · Problems
- [forecast accuracy breaks when the experience-study basis diverges from the pricing assumption set feeding it](/Problems/forecast_accuracy_breaks_when_the_experience-study_basis_diverges_from_the_pricing_assumption_set_feeding_it) — exposes problem · Problems
- [Loss Ratio Forecast Accuracy degraded by claims-department case-reserve development actuarial can't see until it books](/Problems/Loss_Ratio_Forecast_Accuracy_degraded_by_claims-department_case-reserve_development_actuarial_can't_see_until_it_books) — exposes problem · Problems
- [reserve sign-off authority between actuarial and finance is undefined, so booked reserves diverge from the actuarial best-estimate with no accountable arbiter](/Problems/reserve_sign-off_authority_between_actuarial_and_finance_is_undefined,_so_booked_reserves_diverge_from_the_actuarial_best-estimate_with_no_accountable_arbiter) — exposes problem · Problems
- [reserve-strengthening decisions by actuarial aren't reconciled to claims-department case-reserve movements, so IBNR double-counts or misses case development](/Problems/reserve-strengthening_decisions_by_actuarial_aren't_reconciled_to_claims-department_case-reserve_movements,_so_IBNR_double-counts_or_misses_case_development) — exposes problem · Problems
- [statutory valuation outputs don't reconcile to the controller's GL reserve balances, forcing a manual bridge before the actuarial opinion can be signed](/Problems/statutory_valuation_outputs_don't_reconcile_to_the_controller's_GL_reserve_balances,_forcing_a_manual_bridge_before_the_actuarial_opinion_can_be_signed) — exposes problem · Problems
- [the appointed actuary's opinion sign-off depends on assumption approvals stranded in prior analysts' workbooks with no governed handoff](/Problems/the_appointed_actuary's_opinion_sign-off_depends_on_assumption_approvals_stranded_in_prior_analysts'_workbooks_with_no_governed_handoff) — exposes problem · Problems
- [actuarial model ownership and version sign-off blurs between pricing and valuation actuaries, leaving no accountable owner when a shared assumption breaks](/Problems/actuarial_model_ownership_and_version_sign-off_blurs_between_pricing_and_valuation_actuaries,_leaving_no_accountable_owner_when_a_shared_assumption_breaks) — exposes problem · Problems
- [model validation evidence the actuarial team produces isn't packaged to the model-risk (SR 11-7-equivalent) governance gate, so models go live un-attested](/Problems/model_validation_evidence_the_actuarial_team_produces_isn't_packaged_to_the_model-risk_(SR_11-7-equivalent)_governance_gate,_so_models_go_live_un-attested) — exposes problem · Problems
- [Price Insurance Products on assumption sets that diverge from the Experience Studies basis feeding Set and Review Reserves](/Problems/Price_Insurance_Products_on_assumption_sets_that_diverge_from_the_Experience_Studies_basis_feeding_Set_and_Review_Reserves) — exposes problem · Problems
- [reserving triangles rebuilt each quarter from raw claims extracts in Excel](/Problems/reserving_triangles_rebuilt_each_quarter_from_raw_claims_extracts_in_Excel) — exposes problem · Problems
- [rate-filing exhibits re-derived per state DOI from the same pricing model](/Problems/rate-filing_exhibits_re-derived_per_state_DOI_from_the_same_pricing_model) — exposes problem · Problems
- [model-point compression and validation against seriatim data is slow and error-prone](/Problems/model-point_compression_and_validation_against_seriatim_data_is_slow_and_error-prone) — exposes problem · Problems
- [IFRS 17 / LDTI cohort grouping recomputed by hand across model runs](/Problems/IFRS_17_%2F_LDTI_cohort_grouping_recomputed_by_hand_across_model_runs) — exposes problem · Problems
- [experience studies (mortality/lapse) reconciled manually against policy admin data](/Problems/experience_studies_(mortality%2Flapse)_reconciled_manually_against_policy_admin_data) — exposes problem · Problems
- [assumption changes between valuations lack an auditable, reproducible trail](/Problems/assumption_changes_between_valuations_lack_an_auditable,_reproducible_trail) — exposes problem · Problems

### Part of

- [Pension Fund](/CompanyTypes/Pension_Fund) — part of · CompanyTypes
- [Insurance Carrier](/CompanyTypes/Insurance_Carrier) — part of · CompanyTypes