Python is an interpreted high-level general-purpose programming language. Python’s design philosophy emphasizes code readability with its notable use of significant indentation.


RStudio is an Integrated Development Environment for R, a programming language for statistical computing and graphics. It is available in two formats: RStudio Desktop is a regular desktop application while RStudio Server runs on a remote server and allows accessing RStudio using a web browser.


SAS is a statistical software suite developed by SAS Institute for data management, advanced analytics, multivariate analysis, business intelligence, criminal investigation, and predictive analytics. SAS was developed at North Carolina State University from 1966 until 1976, when SAS Institute was incorporated.


The abbreviation of Contractual Service Margin in IFRS17 Insurance Contract. The CSM, in most instances, represents the unearned profit that an entity expects to earn as it provides services.

Actuarial Control Cycle

A conceptual framework that is useful in describing the processes needed for the development and ongoing management of a financial enterprise, product or scheme. It is based on a simple problem-solving algorithm: define the proble, design the solution and monitor the results. (Source: Understanding Actuarial Management: the actuarial control cycle 2nd edition Page 3)

Model Point

A record used in a model to represent a cohort of policies with similar characteristics (Pricing of Life Insurance and Annuity Products). In an actuarial model, a model point contains information relating to a policy, which is normally obtained from the policy administration system.