Journal of the Staple Inn Actuarial Society最新文献

{"title":"A Limited Experiment on V2.","authors":"S. Benjamin","doi":"10.1017/S0020269X00009841","DOIUrl":"https://doi.org/10.1017/S0020269X00009841","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125897161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Direct Marketing of Life Assurance in the United Kingdom","authors":"Elaine Fairless","doi":"10.1017/S0020269X00009798","DOIUrl":"https://doi.org/10.1017/S0020269X00009798","url":null,"abstract":"This paper describes the basic principles, methods and techniques of direct marketing, particularly as they relate to the Insurance Industry. It concentrates on those areas that are peculiar to this art and which would not necessarily be familiar to the Actuarial Profession in the normal course of events. The paper therefore has a marketing rather than a technical bias. Legislation relating to this business is set out briefly and a review of the types of insurance product marketed by this method is included. The paper concludes with some of the problems direct marketing presents to the Actuary and with some thoughts for the future.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"450 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115958564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"DEVELOPMENTS IN LIFE REINSURANCE","authors":"R. Howe, R. Douglas","doi":"10.1017/S0020269X00009786","DOIUrl":"https://doi.org/10.1017/S0020269X00009786","url":null,"abstract":"IN order to portray the changing role of life reinsurance it is necessary to describe many of the traditional areas of activity for the industry, so that an understanding can be gained of how current developments have usually emerged in a natural way from previous undertakings. Therefore, this paper, particularly in its early sections, summarizes techniques and procedures which have been covered in greater detail in previous papers related to the subject of life reinsurance. Current developments, which are naturally associated with some existing activity, are described under the appropriate heading. In this way we hope that those who have little experience of reinsurance will quickly grasp the main principles, whilst anyone fortunate enough to have been involved in the fascinating world of reinsurance will still find items of interest scattered throughout the paper.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"38 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121011746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Radiation-Induced Diseases: Assessment of the Cancer Risks of Low-level Ionizing Radiation Exposure.","authors":"S. Haberman","doi":"10.1017/S0020269X00009889","DOIUrl":"https://doi.org/10.1017/S0020269X00009889","url":null,"abstract":"THIS research memorandum has been written in response to a remit to the Government Actuary's Department from the Industrial Injuries Advisory Council (IIAC). The IIAC are reviewing the terms under which radiationinduced diseases are prescribed as industrial diseases and, as part of this process, have invited evidence from a number of organizations and individuals. Evidence has been submitted by Dr Alice Stewart (Department of Social Medicine, University of Birmingham) based on her analyses of results from the long-term cohort study of workers exposed to low-level radiation at the Hanford Works, Washington, U.S.A. The Hanford Works is one of the largest nuclear plants in the U.S.A. and has been in full production since 1944. About 30,000 persons have worked at Hanford and up to 1977 there had been about 4,200 deaths among current and ex-employees. Some of the methodology adopted by Dr Stewart and her colleagues is controversial and has attached scientific criticism. However, it is their results which have received wide publicity and stimulated a heated debate. Their first paper, for example, 'shows' that low-level radiation has a strong, positive cancer induction effect with the risk of death from radiation-induced cancer being estimated at about ten times the level of the conventional International Commission on Radiological Protection (ICRP) estimates. Subsequent papers from Dr Stewart and her colleagues have refined these estimates. The purpose of this research memorandum is to comment critically on the literature surrounding the Hanford investigations (over 60 papers and letters) and, in particular, advise on the soundness of Dr Stewart's methodology and results. The conclusions of this review are that the published works of Dr Stewart and her colleagues do not represent valid statistical analyses or interpretations of the actual observations. This does not mean that there are no excess cancer risks from low-level radiation—just that the case has not been proven either way. Indeed, there is a problem of statistical power. Any investigation into the effect of low-level radiation at work is very likely to involve insufficient data to increase adequately the statistical power of the study. This means that it may be impossible, in a practical sense, to determine definitively whether the risks of low-level ionizing radiation are significantly higher than the conventional ICRP recommendations.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125660198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Personal Financial Planning.","authors":"R. Chapman","doi":"10.1017/S0020269X00009804","DOIUrl":"https://doi.org/10.1017/S0020269X00009804","url":null,"abstract":"The paper explains how Personal Financial Planning (PFP) covers all aspects of financial advice for individuals, with emphasis on pensions, life assurance, tax and investment. Advice may be confined to one of these subjects, but in its widest sense PFP extends to the process whereby an individual's financial affairs are looked at as a whole before comprehensive planning recommendations are made in accordance with his or her objectives. The training of actuaries specifically covers the subjects of pensions, life assurance and investment. It also provides a working knowledge of trust law and tax. A familiarity with financial projections, an understanding of the effects of inflation and the ability to use computers provide actuaries with a further strong base for giving PFP advice.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128001100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Analysis, and an Application, of Divorce Data.","authors":"J. Spain","doi":"10.1017/S0020269X00009865","DOIUrl":"https://doi.org/10.1017/S0020269X00009865","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"135 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127566820","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Prophet of Profits: An Introduction to the theory and applications of profit tests.","authors":"R. E. Lee","doi":"10.1017/S0020269X00009725","DOIUrl":"https://doi.org/10.1017/S0020269X00009725","url":null,"abstract":"1.1. ONE of the most interesting developments of the last decade has been the advance in micro-computer technology, and the actuary has taken full advantage. The advent of the mainframe computer heralded the use of a whole range of techniques which had previously been impractical because of the lengthy calculations involved; it is, however, the convenience and flexibility of the micro-computer that has brought some of these techniques to life. As a result the micro-computer has become an indispensable tool for a wide variety of actuarial work. In no area of actuarial practice has the impact of the micro been more noticeable than in that of profit testing. It is profit tests and their applications that are the subject of this paper. 1.2. In the discussion on Smart's paper (J.I.A., 104,125) it was suggested that, for all its general excellence, it did not make the subject of profit testing readily accessible to the student. One of my aims in writing this paper has been to present the subject in a more practical form. In an attempt to make the paper readily comprehensible many aspects have been simplified, which I consider to be necessary if the principles are to be expounded clearly and are not to be clouded by unnecessary detail. I have tried to avoid the use of formulae in the main text, putting the emphasis on describing the basic concepts and leaving interested readers to develop formulae and computer programs applicable to their own circumstances; however, an appendix is included to offer some limited guidance. Many of the parameters used, although chosen to be realistic, have been tailored to give simple answers and, as a result, they are not necessarily suitable for practical use. 1.3. Part I deals with the theoretical aspects of profit testing whilst Part II considers some of the many applications which follow from the theory, these have been chosen to illustrate the usefulness of the methods and help the reader to gain a deeper understanding of the subject. The applications cover two major areas:","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129191775","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"TOPICAL PENSION PROBLEMS (A PERSONAL OVERVIEW)","authors":"G. Kaye","doi":"10.1017/S0020269X00009762","DOIUrl":"https://doi.org/10.1017/S0020269X00009762","url":null,"abstract":"Much discussion is taking place currently in the United Kingdom on the subject of pensions. Conferences and symposia have been conducted at various times on many aspects of pensions by such diverse bodies as the Policy Studies Institute (1), the Institute of Fiscal Studies (2), the Trades Union Congress (3), the Pensions Management Institute, the Confederation of British Industry, the National Association of Pension Funds and even our own Institute (4) (in the case of our Institute, on the whole field). The Government announced an all-embracing enquiry on 16 December 1983. This has been divided into separate parts. Evidence for the first part concerned with ‘portable pensions’ was required by 31 January 1984. Despite the very tight deadline, written evidence was obtained from over 1,500 different sources. This serves to show just how much interest was currently being aroused. The final results of the full Government enquiry are not yet available (September 1984). The unprecedented speed with which the Government has proceeded demonstrates the importance that it attaches to the issues raised, and suggests that any prompted legislation will be given a degree of priority.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126604289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Control Cycle: Financial Control of a Life Assurance Company.","authors":"J. Goford","doi":"10.1017/S0020269X00009750","DOIUrl":"https://doi.org/10.1017/S0020269X00009750","url":null,"abstract":"The intention of this paper is to describe, by way of example, how profit testing is carried on in practice and how by making it central to the company's operation the company may be controlled. The mechanism of control is to test the company's results against the results of profit tests built into a model of the company. We shall also describe how the results of these tests of the company's results are fed back into the profit tests to establish the basis for future tests of the company's results. The motivation for this paper arose from the need to communicate to shareholders the links between profit testing and the company's actual results. It is all very well to say to shareholders that the products satisfy a certain profitability standard but how does that show itself and how real is that profitability paticularly for a new or expanding company which displays nothing but statutory losses or, at best, break even? This communication also led to the need to explain variations from the original projections and finally to answer the question: what happens to profitability if these variances continue?","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122490924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Small Self-Administered Schemes in Practice","authors":"M. Kipling","doi":"10.1017/S0020269X00009749","DOIUrl":"https://doi.org/10.1017/S0020269X00009749","url":null,"abstract":"IN the last four years, the number of small self-administered pension schemes has increased from a few dozen to a figure that, if it has not already done so, must shortly pass the 10,000 mark and few major Life Offices, Consulting Actuaries or Pensions Consultants are now without such a weapon in their armoury. Considerable practical experience in the administration of these arrangements has been gained, often somewhat traumatically, over this period by actuaries and other practitioners and, with many schemes having recently had, or just coming up to, their first triennial actuarial report, it seemed a sensible time to consolidate this experience and to highlight some of the more contentious areas for discussion. Certain statements in the paper are based on my understanding of current Inland Revenue practice which is not necessarily consistent either with time or between different examiners. Finally, although the subject matter of the paper applies equally to fully self-administered schemes and to Life Office 'hybrid' schemes, I wish to apologize for any unintentional bias towards the latter that may have crept in. Better the devil you know, I suppose!","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1985-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127916544","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}