New Actuarial Standard on How To Put on Pants

Recent ASB proposals for modeling, pricing, and assumption setting standards of practice seem to be starting a trend of codifying every single action an actuary takes.  The latest release seems to confirm this theory.

An exposure draft, titled  "Lower Body Coverings" is currently in progress.

Apparently there is much concern in the actuarial community about the quality of work can vary based on how one applies lower limb coverings. An improper procedure may result in further deterioration of judgment, confidence, and overall work product. To put it one way, the exposure draft deals with the risks of feeling drafts while exposed.

New Insurance Products Announced for Undead

In an effort to find new business, insurers are dabbling into new, untapped markets.

Traditionally the insurance industry protected against two risks - dying to soon via Life Insurance or outliving your assets (longevity) via Annuities.

The limiting factor to each of these is that you either had to be alive or die to collect a claim.  This was an issue if you were already dead, sort of dead, or came back to life after death.  Now, a new set of products is coming on to the market to meet those needs.

Bayesian Rhapsody

The whole thing with Bayes is about updating likelihoods given more information. Let's see how Queen takes us on a Bayesian journey.

Update:  The Bohemian Rhapsody movie did not take any of this information into account.

We start with a fundamental question about the nature of reality, and fact about landslides.

Is this the real life? Pr(Real Life) = ?
Is this just fantasy? Pr(Fantasy) = 1 - Pr(Real Life)
Caught in a landslide,
No escape from reality Pr(Real Life | Caught in a landslide ) = 1

The 12th Actuarial Speculative Fiction Contest

Below are stories from the 12th Actuarial Fiction Contest, with my own quick synopsis of the story and images from around the web that might work as a cover. Summaries and cover art are my own interpretations.  Please vote on your favorites.

You Wouldn't Believe What Jacob Bernoulli Looks Like Now

What would it be like if historic mathematicians lived today and were as popular as some of the most notorious celebs?  In this series of posts (#mathgonewild) Between the Spreadsheets makes parallels between founders of major mathematical thought and current celebs, and we create some tabloid headings. Feel free to comment, argue, or add to the list.

The  Bernoulli's 

https://en.wikipedia.org/wiki/Bernoulli_family

Ever heard the song "John -Jacob-Jinglehiemer Schmidt?"  Probably came from these guys, where most dudes in the family are names Johan or Jacob or Nick. The family has an impressive resume, but the tabloids are pretty good too.