Systems, data and the actuary

Abstract

The paper was prepared by an informal working party as an introduction to an open forum discussion. It considers from several viewpoints the relationship between the actuary and the computer, both in its function as a calculating tool and as a data processing and storage medium. The paper considers in detail the requirements of the Appointed Actuary for adequate data, the problems of allocating and pricing for computer costs and the increasing uses of computer modelling in financial reporting. The place of computer literacy in actuarial education, future developments and standards are also considered.