By Preeti Vasishtha
Imagine a world where work and life are completely separate—where decisions made in one realm have no bearing on the other. That’s the premise of Severance, the highly acclaimed workplace sci-fi Apple TV+ series, which recently closed out its second season. Employees at Lumon Industries, a mysterious biotech company, undergo a procedure called “severance” that splits their consciousness. Their “Innie” knows only the workplace, while their “Outie” remains oblivious to what happens inside. But as the show unfolds, it becomes clear that no true separation exists, and the decisions made by both Innies and Outies inevitably ripple across both realms.
For actuaries, this serves as a powerful parallel: no issue exists in isolation. Affordability issues in one sector may make it difficult for a customer to purchase insurance or financial products in another sector. In fact, some trends are impacting multiple parts of the actuarial field at once. For example, natural disasters such as wildfires don’t just influence property casualty rates, but they can also impact a person’s health, which may affect forecasts for the Medicare and regular health insurance programs.
Just as Severance challenges the idea that work and life can be truly severed, actuaries must recognize and navigate the deeply interconnected nature of actuarial areas. You can read the details in this issue’s cover story, “Aging and Financial Security: It’s Complicated,” which underscores the need for actuaries across all fields to collaborate, understand each other’s coverage areas, and ensure that potential reforms lead to systemwide improvements.
In addition to understanding the broader interconnectedness of actuarial work, effective leadership plays a crucial role in navigating these complexities and more. The article, “What Makes a Chief Actuary Truly Effective?” details the 10 key competencies that enable chief actuaries to drive success in insurance companies across all sectors.
The issue also features “Raising Awareness of Health Equity Considerations in Actuarial Work,” which explains how inherent biases in program development and modeling can contribute to health disparities, but existing ASOP guidance can help identify and mitigate these disparities.
Lastly, “The Dynamics of Market Forces: Setting the Stage,” the first in a two-part series, explores the history of supply and demand pricing. While actuarial pricing is typically based on a cost-plus model, there are situations where professionals can benefit from an understanding of economic pricing, such as in competition-based health insurance.
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As Editor-in-Chief, I navigate a dynamic interplay of decisions that shape both the immediate and long-term direction of Contingencies. Severance illustrates how actions in one realm impact another. Similarly, I’ve found that recognizing the interconnectedness of editorial choices and broader industry trends helps us create content that resonates with our diverse readership. By keeping this perspective in mind, we ensure our coverage reflects the evolving landscape of the actuarial profession.
If there’s a topic you’d like to see covered, a story idea to share, or an article you’re interested in writing, I’d love to hear from you. Email me at editor@actuary.org. Happy reading!