Description: Describes the methodology of conditional stochastic pricing.

Description: Continuation of article from previous issue. This article illustrates the practical and financial implications of applying nested stochastic techniques to a sample product.

Description: The last few years have seen a dramatic change in the way that insurance products are priced. If we traveled back in time 15 to 20 years, we would see a world where most insurance products were priced on the basis of a few static scenarios. In the last several years, pricing on a stochastic basis has become more mainstream—at least for contracts with embedded guarantees.

Description: Full issue

Description: It is worth the effort to obtain a pricing surface. It helps make an informed decision and facilitate the pricing conversation within and outside a company.

Description: Defines Accelerated Underwriting programs as a transformational trend, and outlines a process for evaluating mortality implications of such programs.

Description: In this article, the chairperson addresses the section regarding content creation.

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: Overview of design thinking problem solving method and applications to life insurance

Description: Letter from the Chair of the Product Development Council. Challenging times bring opportunities. Today's low interest environment is a rallying cry for our industry to transform our products and the way we do business