Risk has a way of changing and adapting to your risk management strategies. Risk is like water looking for the weak seam to flow through and produce a leak. Water is not being an evil conscious entity, that is just the nature water. And that is the nature of risk as well. It will adapt and change and will find the cracks in your risk management system.
In my opinion, there are many potential uses for video media in the actuarial profession, and they go well beyond simply promoting the profession. For example, why not use YouTube videos to provide instruction for actuarial software?
It would be an ideal way to provide on-demand education and also allow the exchange of ideas in comment threads. It would also help relieve employers of the burden to train new employees on software. Use the web to let new hires train with others, and let them cheaply find answers to questions that may have already been asked.
Not that long ago, I asked the question: What role will actuaries and risk analysts play in virtual economies?
I may get an answer much sooner than I expected. Insurance Journal reports that Farmers Insurance is now offering coverage in FarmVille, a “virtual world” game within Facebook:
When players place the Farmers Airship on their farm, they receive free “wither protection” for the crops on their virtual farm. In a nod to the security that Farmers Insurance offer its customers, this protection means players crops won’t wither for the 10 days of the promotion.
But if you’re an actuary that wants to start pricing virtual goods and services, I wouldn’t get too excited just yet. This first take appears to be mostly a marketing campaign – an effort to draw attention to the Farmers Facebook page.
But still, it’s a start.
Hat tip to Claude Penland for sharing a link to this story.