How does this role benefit the work of the organization and the profession?
Volunteers on a Project Oversight Group help to ensure a quality SOA research product, which results in providing the profession reliable and practical tools/information.
Responsibilities & Duties
Project Oversight Groups (POGs) provide guidance and input to researchers, oversee the progress of the work, and ensure it is in line with the proposal. POG members are expected to review draft materials prior to conference calls and provide input during the calls. It is expected that there will be one-hour conference calls approximately monthly for the duration of the project.
This project is comprised of two deliverables.
The first report is to shed light on the fast development of decentralized insurance alternatives and their innovations in business models and processes that may have significant implications for the current insurance model and the actuarial profession. The deliverable for the first part of the project will be a report that provides the reader with an understanding of the possibilities, advantages, and challenges of decentralized insurance. The outline of the first deliverable is as below:
- The current market landscape of decentralized insurance alternatives
- Innovations in key processes
- The opportunities and challenges decentralized insurance alternatives face and their implications for traditional insurance models and the actuarial profession
The second is to create a comprehensive classification framework for risks associated with the existing and emerging decentralized finance protocols. This framework will guide the product design, offering, and underwriting practices of a new generation of insurance and risk management products for decentralized finance. The research aims to raise awareness in the actuarial professional community about the rapidly emerging risks and opportunities that are disruptive in nature. The deliverable for the second part of the project will be a report that provides the reader with a generalized risk classification framework. The outline is as below:
- Define and analyze cybersecurity risks for decentralized finance protocols in terms of technical design, economic design, human factors, and other risk factors
- Review of past incidents of economic losses across multiple blockchain ecosystems
- Case study of major incidents
Time Commitment – 11-20 hours
Most time will be reviewing materials and participating in conference calls.
Experience Required
Open to Members, Non-Members, and Candidates
Also, ASA or FSA
Opportunity Location
Non-Country Specific
Travel Required
None
SOA Training Required
None
PAOP
N/A
Additional Specializations
Open to all specializations