Randy’s primary areas of concentration are the life and long-term care insurance markets. He frequently works on a variety of projects including pricing, product development, valuation, and modeling of life, long-term care, and hybrid products. Randy is a leader in model development, having worked on the development and expansion of the firm’s modeling capabilities with regard to the hybrid product market. Prior to joining the firm, Randy began his career in reinsurance.
In long-term care, uplift modeling could serve as a valuable tool, helping actuaries and statisticians analyze the effectiveness of new wellness programs.
11 September 2024 - by Juliet Spector, Annie Gunnlaugsson, Robert Eaton, Mike Bergerson, Joe Neary, Evan Pollock, Courtney Kronlokken, Randy Beams, Susan Knutson
In our third quarter 2024 Long-Term Care (LTC) Focus newsletter, we showcase some of the projects that Milliman LTC consultants are working on now.
17 February 2022 - by Tyler Armstrong, Robert Eaton, Randy Beams
This article discusses the pros and cons of a claim cost model versus an integrated first-principles model for use in modeling Hybrid Life and Health products.
17 February 2022 - by Tyler Armstrong, Randy Beams, Robert Eaton
We look at modeling hybrid products under an integrated and first-principles basis with long-term care riders, which produces more robust and precise models.
15 July 2021 - by Tyler Armstrong, Randy Beams, Robert Eaton
The preferred solution for Med Supp modeling is a modern actuarial modeling software platform because of the effective risk governance framework, efficient assumption management, logical inputs, and the capability of modeling complex variable interactions.
