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Some Changes in Actuarial Methods Arising from the Use of a Small Computer in a Medium-Sized Office

Published online by Cambridge University Press:  18 August 2016

W. T. L. Barnard
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Extract

Many assurance offices are in the early stages of changing to a computer for the mechanization of their business. Each office has its own problems which frequently arise from its historical record of amalgamations, changes in management policy, etc.

2. Probably the biggest problem for the office is the standardization of its data into a form which can be read by the computer. When this has been accomplished the small-size computer can readily take over practically all the work which has already been mechanized, usually giving a better product in a shorter time and with reduction in manual work. There is also a simplification of diverse mechanical systems into a single medium.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 91 , Issue 2 , September 1965 , pp. 108 - 146
Copyright
Copyright © Institute and Faculty of Actuaries 1965

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References

(1) Lochhead, R. K. (1932). Valuation and Surplus, Cambridge University Press, p. 38.Google Scholar
(2) Michaelson, R. L. (1953). J.I.A., 79, 274.Google Scholar