AS THE CALENDAR REMORSELESSLY EDGES TOWARD THE EVENING OF DECEMBER 31 each year, many people take it as an opportunity to take stock of what has happened in the previous year and look forward to what they would like to happen in the next 12 months.
And so it is at the Academy. Our year-ahead planning process gets started early, midyear for many people, but plans coalesce and get firmed up as the year progresses. Ideas become budget lines (or not); and transitional steps and tasks become solidified.
As we did last year, we use this first issue of the new year to look ahead at what Academy volunteer councils, staff, and fellows are planning-as well as our actuarial colleagues who represent many of the diverse stakeholder groups of actuaries and aspiring actuaries in the field.
I’ll admit that it’s somewhat exhausting just reading what’s on their various plates; the scope is impressive.
We also have two forward-looking feature articles. The first, “The Pacing Problem Unplugged,” is the first of a two-part series that examines the challenges regulators face in keeping up with the rapid pace of technological advancements. The issue arises because innovation often outpaces the creation and adaptation of laws, regulations, and policies.
The second, “Understanding and Controlling Healthcare Costs,” is also the first in a series that will seek to illuminate the mystery (to many people) of healthcare costs. Even large insurers and governmental entities, paying billions of dollars in claims every year, struggle to understand current cost drivers and the impact of new methods to control costs. I, for one, look forward to the light it will shine on this important issue.
Finally, I would be remiss if I didn’t also draw your attention to Darrell Knapp’s first President’s Message. Eagle-eyed readers will have spotted a splash on the front cover, noting that 2025 is the Academy’s 60th anniversary. That means that Knapp is the Academy’s 60th president.
Darrell’s theme for the year will be “value”-the value of Academy membership, of volunteering, and the value that both the public and employers receive from an active and dedicated profession.
I’m delighted to share all this with you and look forward to everything that 2025 will bring.