Experience Studies
Experience Studies in Individual Life
Mortality Studies Work Group
While the mortality studies performed by the SOA have been valuable, they have not kept up with
developments in insurance company pricing and underwriting practices. Company participation in SOA mortality studies
has declined over the last decade. If this continues, the credibility of future studies and the ability of the SOA
to perform these studies will be in question. Hence, a re–evaluation of the scope and context of mortality
experience studies is needed at this time. A fresh strategic perspective developed for the long–term with
respect to this SOA service, which has historically been one of the core products of the SOA to the actuarial
profession and the life industry, is also needed. The MSWG was created to bring industry experts together who can
provide direction to the SOA on how these issues can be addressed.
The MSWG’s mission was to make recommendations with respect to:
- The types of industry–level mortality tables that will be attractive to insurance
companies.
- Other types of insured mortality–related data that the SOA might make available, which
would be valuable to insurers.
- Strategies to encourage companies to contribute data.
- The right frequency for mortality studies.