Smaller Insurance Company Section Research
2023
2022 Accelerated Underwriting Practices Survey Report
This report summarizes the findings of two Accelerated Underwriting surveys conducted by Milliman to direct companies and reinsurers. The purpose of the study was to not only determine how practices have changed, but also how they have changed because of COVID-19.
Innovations Potentially Affecting Underwriting: An Initial Review with a Focus on Epigenetics, Medical Tests, and Wearables
The insurance industry – underwriters and actuaries in particular – are challenged to constantly examine new innovations that promise to raise confidence and protective value for insurability, within legal limits. This report aims to be the first of several to alert the SOA of promising innovations for the profession.
2022
Cause-of-Death Contributions to Socioeconomic Inequalities in Mortality in the United States
This study of socioeconomic inequalities in mortality builds on a previous report in which we identified a large and growing gradient in life expectancy between 1982 and 2019 across U.S. counties classified into 10 socioeconomically homogeneous categories. In this report, we seek to identify the particular causes of death contributing to the growing disadvantage in mortality between populations in the least and most affluent deciles as previously defined.
Mortality Improvement Trends
Using results from a literature review and data from the U.S. Census Bureau that spans 1985-2015, the authors analyzed mortality improvement patterns across key variables and causes of death. Results of the research quantify differences in mortality improvement between key socioeconomic groups and demonstrates how they change over time.
2021
Interstate Variations in Mortality in the United States, 1959-2018
This report examines mortality differentials by state. Using recently updated data from the United States Mortality Database, this report presents an overview of historical mortality trends in all 50 U.S. states and the District of Columbia for the period 1959-2018.
Obesity Trends and the Impact on Morbidity and Mortality Costs
This report examines the latest trends in obesity and an estimate of the impact of obesity on mortality and morbidity costs in the U.S. and Canada.
2020
Mortality By Socioeconomic Category
This research report presents mortality analysis and rate estimates for the United States by year from 1999 through 2018, separately by socioeconomic quintile and decile.
Principle-Based Reserves Simplified Methods
The Society of Actuaries Smaller Insurance Company Section, the Financial Reporting Section, and the Committee on Life Insurance Research are pleased to make available new research investigating simplified methods for determining reserves under VM-20.
2019
Practical Analysis of PBR Mortality Credibility for Term Insurance
The Smaller Insurance Company Section, the Committee on Life Insurance Research and the Product Development Section announce the release of a new report on the impact mortality credibility has on principle-based reserves.
2017
Modern Deterministic Scenarios for Interest Rates
This report provides a framework that actuaries can use to evaluate moderately adverse conditions.
Understanding VM-20 Results
This report examines options for analyzing periodic changes in VM-20 reserve amounts.
Impact of VM-20 on Life Insurance Product Development – Phase 2
A study on the impact of VM-20 on life insurance product development. The Phase 2 report expands on the first phase case studies and includes additional case studies focused on smaller insurers and the impact of reinsurance.
Understanding the Product Development Process of Life Insurance and Annuity Companies
This study examines global product development (PD) practices of life insurance and annuity companies.
2016
Impact of VM-20 on Life Insurance Product Development
A study on the impact of VM-20 on life insurance product development. The research is composed of two phases.
PBA Implementation Guide
A research report to provide a better understanding of the key considerations an insurer would encounter in making a principle-based framework for determining reserves and risk-based capital (PBA) a reality.