Control Cycle (or Actuarial Control Cycle)

Definition

A conceptual freamwork that is useful in describing the processes needed for the development and ongoing management of a financial enterprise, product or schedme. It is based on a simple problem-solving algorithm:

  • define the problem;
  • design the solution; and
  • monitor the results

(Source: Understanding Actuarial Management: the actuarial control cycle 2nd edition Page 3)

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