The WorkCompEdge Blog

by Kory Wells, WorkCompEdge Blog Editor

An Actuarial Advantage helps non-actuaries learn about actuarial topics.

Actuarial consultants and analysts outnumber the software staff here at SIGMA Actuarial and Specific Software, so I’m not looking for trouble – just stating personal experience – when I say that actuaries speak a language the rest of us don’t.  But you probably knew that. Terms like IBNR, loss development, and confidence interval aren’t in the everyday language of most business people, but they’re important concepts that many CEOs, CFOs, risk managers and other professionals need to know. So, as part of our educational outreach to businesses of all types, we’re making our popular booklet, An Actuarial Advantage: Maximizing the Benefit of an Actuarial Analysis, available as a free download through the remainder of 2009.

“Our goal with this booklet was to clear up a lot of misunderstood actuarial topics and to make a variety of risk management professionals more confident in their interactions with actuaries,” says our CEO Tim Coomer, principle author of the book.

Originally published in 2005, An Actuarial Advantage functions as a primer for fundamental actuarial methods and topics such as loss forecasting and cash flow analysis. The booklet discusses

• the most effective ways to utilize an actuary for a competitive advantage;
• common challenges that business people encounter when working with actuaries;
• and specific examples of real world applications of actuarial analyses.

It also offers a checklist for working with an actuary.

The booklet, which we’ve distributed to over 30,000 professionals, is recommended for corporate officers, HR staff, risk managers, safety managers, controllers, captive managers, insurance brokers and agency owners, government officials involved with self-insured or captive operations, and anyone else who wants to better understand actuarial terminology and processes. Printed copies of the booklet will continue to be available during the free download promotion for a nominal fee – visit our bookstore to order a printed copy.

Download An Actuarial Advantage now. And be sure to share this offer with your colleagues and clients!