Fifteen years ago, Tim Coomer created “An Actuarial Advantage” with the goal of educating his fellow insurance colleagues on actuarial concepts and methodology. With well over 100,000 copies of the book now in circulation, we are excited to publish a new edition marking the 15th Anniversary of its initial release. Even in light of the rapidly changing insurance landscape, the content of the book remains as vital as ever and benefits from updated formatting, editing, and revisions in this new edition.
The overwhelming success of the book revolves around its goal of providing “specific examples of real-world applications” to those unfamiliar with actuarial concepts. Tim’s focus for the book is not for actuaries, but rather for the numerous individuals who utilize actuarial consultation and reports.
When Tim wrote the original introduction, he stated that using an actuarial resource such as this book “can prove to be a powerful advantage for brokers, chief financial officers (CFO’s), and risk managers.” While that remains true, the demand for the book shows that its importance has also expanded to university professors and students, captive managers, underwriters, attorneys, accountants, claims managers, and many other insurance professionals.
The content found within can benefit insurance professionals at any stage of their career, but it’s our hope that this new edition also provides a helpful gateway to those who are joining the insurance industry and need a simple, explanatory resource for the actuarial terms and methods they’re likely to encounter. The power of actuarial analytics cannot be understated, and by presenting these concepts in a digestible format, we’re certain that this material will continue to play an important role in shaping an analytically based approach to risk.
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