Actuaries use a lot of acronyms, and keeping track of them all can be tricky. Whether you're new to the field or have years of experience, you've probably come across abbreviations that left you guessing.
This guide is here to help. It's a collection of actuarial acronyms, all in one …
Before we dive into building an insurance model with riders, let's briefly outline what this post will cover. Insurance products often come with optional coverages — also known as riders — that allow policyholders to extend their protection. Modelling such products requires a structured approach to handling multiple coverages efficiently. …
In life insurance under IFRS 17, there are two main valuation approaches: the General Measurement Model (GMM) and the Variable Fee Approach (VFA). This post focuses on the Variable Fee Approach - what it is and when it applies.
The VFA is a modification of the GMM, specifically for direct …
When you become an actuary, you hear the term Solvency II a lot. It is one of the most important regulatory frameworks in the insurance industry. Designed to ensure that insurers remain solvent and can meet their obligations, Solvency II establishes risk-based capital requirements and reporting standards.
In this post, …
lifelib is an open-source Python package designed for actuarial modelling. It's a significant contribution to the actuarial community, offering one of the few — if not the only — open-source actuarial cash flow models. This makes it a valuable tool for enhancing modelling skills.
The package includes multiple libraries, one …