The essays in this competition were asked to explore several aspects of how technology transformations are likely to impact actuarial practice innovation in the future, including:
• How actuaries have designed innovative solutions using more advanced approaches than in the past • Collaborative efforts where actuaries have championed innovation across a wide array of professions • Using new sources of big data to drive product development and bring new products to market • Designing more dynamic models that can readily be adjusted as new information becomes available A panel of judges reviewed the essays for publication and awards. The judges selected three essays for awards, one for an honorable mention and a further three for publication. Consideration was given to creativity, relevance, and economic and business impact.
Full report available from: https://www.soa.org/globalassets/assets/files/resources/research-report/2020/actuarial-practice-innovation-essays.pdf