By Ted Gotsch
Senior Policy Analyst, Content and Publications
The Academy’s mission is to serve the public and U.S. actuarial profession. But what does that actually mean? To serve the public—our friends and families, our neighbors, and our employers—how can the Academy do that? We meet that challenge by offering policymakers at all levels of government (federal/state/local or elected/appointed/professional staff) by providing leadership, objective expertise, and actuarial advice on risk and financial security issues.
Doing so, however, can be a challenge when trying to communicate technical actuarial issues to anyone who isn’t an actuary. So, to help address that problem, we introduce the Actuarially Sound Blog, where Academy staff and special guests will try to distill the work of our member volunteers into content that may be more broadly accessible and available to those outside the Academy and the actuarial profession.
During 2024, a good portion of the blog’s focus will be on six key “mega-issues”—retirement security, health care, climate change, cybersecurity, artificial intelligence, and risk management. Taking advantage of the election year and the broad appeal of these issues that we’ve been discussing and considering for some time, it makes sense to share the perspectives and voices of the Academy membership on topics that are almost certain to extend well beyond the calendar year. For more on our efforts around the election and the Academy’s Election Clearinghouse, check out this blog post.
It is imperative that policymakers take on these challenges and find answers that help insurers, industry, and individuals. But where do they find unbiased, nonpartisan, and actuarially sound insight on which they can rely? The Academy, of course! The trick is to clue in policy wonks everywhere to this fact.
This blog is one such way to help spread the word. The Academy plans to tackle topics raised by volunteers in the publications they produce, as well as issues that come to the fore as part of our ongoing discussions with and actions taken by elected officials. The blog is intended to offer a high-level summary and introduce our audience to the other resources at their fingertips.
We’ll be highlighting specific projects, targeted events, and offering Policy 101 learning opportunities as we continue to engage with actuaries, policymakers, and others. We will continue to use facts to explain issues thoroughly, maintain our independent perspectives, and lean on the sound actuarial principles demanded by the Academy and our members.
The Academy won’t stop talking about these six mega-issues just because the election ends in November. In fact, it will be increasingly important to discuss the financial viability of Social Security and Medicare—as well as heightening concerns surrounding climate change, cybersecurity, and AI. We won’t stop talking about other issues that impact the insurance industry, the American economy, and the U.S. actuarial profession … so be sure to keep an eye on this space, as new content will be appearing on a regular basis.
So, whether it’s an explainer about what went on at the latest meeting of the National Association of Insurance Commissioners (NAIC) or a pressing issue getting the attention of the national media, that’s what this blog is here to do. Our mission is to give objective actuarial expertise on public policy issues—just as was intended at the Academy’s founding in 1965.
