Saturday, October 7, 2017

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 - death via Life Insurance and 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.

Friday, September 1, 2017

Bayesian Rhapsody

Hard to believe, it's been six months since the last entry. This one has been floating around for a bit.  The whole thing with Bayes is about updating likelihoods given more information. Let's see how Queen takes us on a journey. 
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

Friday, March 3, 2017

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.

Thursday, January 5, 2017

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 

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.

Wednesday, October 19, 2016

Models and Drunks

I am not referring to Gigi or Gisele or Gumble or Griffin.  Rather, "models and drunks" is a contrite summary of a couple of my recent readings that I figured should find their way to this space. (By the way,  this confusion about models has happened before.)

First, models. I have long been a fan of the phrase that "all models are wrong, but some are useful." However, much to my shame, I know not where it came from.  Now I do. Thank you Twitter for enlightening me about George Box and his paper.   Not only am I know aware, but I have been shaken to my core. More on that later.

Second, drunks - and specifically how they walk.  The Drunkard's Walk: How Randomness Rules Our Lives by Leonard Mlodinow ( is what I call a mathematician's apologetic - an attempt to make math accessible to the masses.   His book is part of my attempt to work through a reading list (again - thanks Twitter!) of math texts.  I give the guy a couple of stars for effort on the mathematical narration, but the real gold is in the cast of characters.  They will be featured in a future post.  In this post, I will leave you with flip flops.

Sunday, September 4, 2016

Vitality Compass vs. Longevity Illustrator

If you want to know how long you are going to live, you could consult a palm reader or some other mystic.  Alternatively you could look to science, math and academia.  But who wins between academics and actuaries?

Wednesday, August 17, 2016

Engage or Disengage?

Recently, the Society of Actuaries deployed their latest community site, SOA Engage.

While unlikely to get the traction of the Actuarial Outpost or a Reinsurance sponsored Happy Hour at a symposium, the threshold is pretty low.  A few actuaries showing up will likely be considered a win.

This initiative brings to mind a past article by BTS, about actuaries engineering anti-social Media.