Press Release
New Web-based Actuarial Service--
an Industry First

Actuarial Work-Products, Inc. (AWP) has introduced a new Web-embedded computer program that produces certain health care plan work-products in minutes. The new industry-first automated service is cheaper and faster as well as being more qualitative, accessible, efficient and user-friendly than traditional options.

"This is believed to be the first major change in actuarial methodologies since the introduction of binary-based computer technology in the 1950s," says Carl Harker, the founder of AWP. This new method of delivering certain actuarial services uses the very latest in information technology, mathematical disciplines and data-handling efficiencies.  

The motivation for creating this new service came directly from the US trade and commerce laws, which state the obligation of all business and professions to create and offer the cheaper and better product or service and to do so fairly.  Affordable actuarial expertise for a wide market is a hoped-for result.

Potential users include health care plan sponsors, producers (risk managers and consultants), administrators, actuaries, risk managers, software developers, insurers and HMOs.

Work-products presently offered include claim reserves, Monte Carlo Simulations (claim fluctuations as well as the economic value of stop-loss and plan benefits) and alternatives to retired life reserves.  Work-products being developed include COBRA rates and funding, Medicare Part D, consumer directed health care and IRS Form 1099 entries
(self-employed and discrimination issues).