Blufftop Software Develop

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Blufftop Software Development was founded by Stephen J. Strommen, FSA, MAAA, CERA, as a vehicle to meet a perceived need for simple and inexpensive software tools in certain niche markets. Such markets include actuarial analysis of financial risks, and the market for educational tools for professionals that work in that field. Mr. Strommen has over 30 years of responsible experience in life insurance company actuarial work. The first products of Blufftop were updates to the Table Manager Software first developed for the Society of Actuaries Technology Section in 1995. More recently, the focus has been on developing a standard file format and software interface for stochastically generated sets of economic scenarios that are often used in actuarial risk analysis and valuation of complex financial guarantees. At this time, all software developed by Blufftop is distributed at no cost. If future new products are developed, this may or may not continue to be the case. Some means of generating sufficient revenue to make the organization self-sustaining may be developed, however this is not expected to occur until Mr. Strommen retires from full-time employment elsewhere. The last couple of decades have brought a revolution in the techniques being used to evaluate, price, and manage financial risk. Where simple point estimates of expected values used to suffice, practitioners must now evaluate whole distributions and apply elaborate algorithms in the context of simulations that would take months or years to carry out by hand. In short, the ability to harness computer power has become an absolute necessity. However, as in so many fields, the availability of flexible and capable computer software has been lacking. The high cost of developing such software leads to a situation where only large institutions can afford to purchase it. And the availability of software suitable for an educational or research setting is sparse to non-existent. The long term mission of Blufftop Software Development is to help fill the need for software that meets educational and research needs in these fields. Efforts thus far have barely touched the surface.

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