Some Suggestions in regard to Life Office Accounting, including inter alia an arrangement of the American CARD SYSTEM, suitable for the requirements of British Offices

Extract

Gentlemen,—It is with feelings of diffidence and trepidation that I venture to address you to-night. I have been informed that it is almost impossible to write a paper on anything new in connection with Actuarial matters, as everything bearing on the theory and practice of Life Assurance has already been written, read, and understood by all those interested in the business. However, although nowadays every Actuarial student can graduate a Mortality Table in about three different ways, and can run off lists of the Securities, in which the funds of an Office should and should not be invested, with reasons as to their choice or rejection, I think that perhaps in the department of Life Office Accounting there are still a few suggestions which can be made. I allow that the subject is not so scientific as, say, the calculation of the probable future profit to be received on a Reversion, which has been bought at an auction, or the valuation of conflicting interests in a Disentail. I am also afraid that Accounting is not thought of much importance by Actuaries, but is regarded rather, may I say, as a prosy, though easily crammed subject, to be read up before examinations.