Actuarial Control Cycle

The Actuarial Control Cycle is a systematic process used by actuaries to manage risks and ensure sound financial decision-making, particularly in insurance and pensions. It involves several key steps: defining objectives, analyzing data to estimate future risks and costs, implementing strategies, monitoring results, and refining methods based on findings. This iterative cycle helps organizations make informed choices about pricing, reserves, and investments, ultimately securing their financial health and stability while effectively addressing uncertainties. It emphasizes continuous improvement and accountability in the face of changing risk environments.