Actuarial Research Exchange Launched

by Mike Boa, CAS Manager, Communications and Research

The Actuarial Research Exchange, an online-based service designed to link academic researchers with practicing actuaries for collaborative work on practical business problems, was launched in January 2003. This service was established by the Committee on Academic Relations, a joint committee of the Casualty Actuarial Society, Canadian Institute of Actuaries, and Society of Actuaries.

Essentially a matching service, the Actuarial Research Exchange links faculty researchers with research opportunities, taking into consideration the research issue to be addressed and the background, expertise, and interests of the potential researcher. The service is hosted online through the Actuarial Education and Research Fund (AERF) Web Site and represents more than a year's work of the committee, the cooperative effort of AERF, and the three sponsoring actuarial organizations. The Actuarial Research Exchange can be accessed via the "Research" section of the Web Site.

"The existing research programs of each actuarial society already produce high-quality research. However, this research is usually performed independently by practicing actuaries or academics," said Dale Porfilio, chairperson of the Committee on Academic Relations. "At the same time, some research ideas sit in the minds of practicing actuaries but do not get done due to lack of resources." Porfilio reports that the committee created the research exchange to more fully apply the excellent research abilities of academics to the research needs of the actuarial profession in a cooperative, interactive format.

The goal of the Committee on Academic Relations for the Actuarial Research Exchange is to increase the number of collaborative projects between practitioners and the academic community. In time, joint faculty and business research projects will be more common, such as having a faculty member spend a summer or sabbatical leave at a business working with the organization's actuaries on practical actuarial problems.

The Actuarial Research Exchange consists of two main components. One section lists the research opportunities posted by organizations, and the other section lists the faculty members interested in conducting research, including specific areas of interest.

Organizations are encouraged to post their research needs on the Actuarial Research Exchange Web Site, where faculty researchers can review the opportunities and respond to those that match their research interests. There is no cost to the organization to post a research opportunity, which can be submitted through the Web site by completing an online form.

An additional benefit to organizations is provided through the list of faculty members who are interested in conducting research. The listing allows companies to contact faculty members directly about research projects. Faculty members who want to take advantage of this complimentary service can post their contact information, research interest, and brief curriculum vitae.

Completed research projects that are not proprietary will be published on the Web site to serve as a showcase for joint projects between academic researchers and practicing actuaries.

The Actuarial Research Exchange is the latest project of the two-year-old Committee on Academic Relations. The focus of the committee is to encourage and facilitate the evolving relationship between the actuarial profession and the academic community in order to achieve partnership on key initiatives. The committee's responsibilities include maintaining the Academic Relations e-mail discussion list and the Actuarial College Listing. In addition to Chairperson Porfilio (CAS), committee members include Grover Edie (CAS), Nasser Hadidi (CAS), Bryan Hearsey (SOA), Michel Jacques (CIA), Steve Kopp (CIA), Arnold Shapiro (SOA), Alice Underwood (CAS), and Catherine Wallach (SOA).