Description: The first part of this article illustrates why long duration recurring premium products are particularly risky using the concept of fragility. The second part explores some ideas for antifragile products, which would enable the industry to benefit from the new banking requirements.

Description: This article describes how actuaries can get involved in section research including participation on a Project Oversight Group (POG).

Description: A discussion of the hidden costs of bringing innovative products to market, including the costs of expertise gaps and opportunity costs

Description: As we further explore how life insurance customers think and behave, we can address their needs more effectively. Using data and predictive analytics we can better identify groups to target. By embracing technology and approaching customers with the right distribution channels based on preference, we can make life insurance more accessible. We can speak the customers' language. We can understand that they are not all created equal, and tailor products to meet individual needs. In short, we can leverage data, research and technology to become very consumer centric. Getting closer to the customer, can we lower the perceived cost, and raise the perceived benefit of life insurance to a point where customers get excited? Will this not then be a product to buy, not sell?

Description: Innovative products and business processes often come from where you least expect them. This article explores the characteristics of disruptive innovations and provides a framework for identifying and creating disruption in an existing business.