Description: This paper describes methods for determining bounds on the price of derivative instruments, such as option on insurance futures, given only market information. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: 2021 ImpACT Conference - Session 5B: Combination Product Valuation on Trial 10.26.21 Recording

Description: Summary of recent surveys to life actuaries regarding assumptions surrounding policyholder behavior in the tail for universal life with secondary guarantees and minimum guarantees on variable annuities. This information is intended to examine and ultimately give guidance to actuaries on how to set policyholder assumptions in extreme scenarios.

Description: Pricing is a central activity of actuaries to assure solvency and to manage risk. Life insurance is also a social good, not just a product, and the US population is massively underinsured. Pricing must strike a balance. Unlike a simple 4x4 matrix to produce pricing, today's technology offers the ability to evaluate literally thousands of variables, enabling a kind of precision pricing. It also heightens the possibility of introducing bias and discrimination through the use of unregulated third-party data.

Description: 2021 ImpACT Conference - Session 6D: Climate Risk Research for Actuaries 10.27.21 Recording

Description: This report covers mortality among pensioners along with some some disability pensioner mortality experience.

Description: Actuaries pride themselves on innovation and advancements; but no professional field has pushed to set the bar higher than medical Radiology. Over the course of the last few decades, medicine has begun to rely more on artificial intelligence to aid in the process of patient care; and the results have been outstanding! This article looks to show how high the bar has been set, how it will impact the current state of the world of the actuary and the future impacts

Description: The purpose of this study is to provide quantitative information illustrating the impact of reflecting mortality improvement using a “Generational Approach” in the actuarial valuations of defined benefit pension plans versus reflecting mortality improvement by more traditional methods.

Description: Actuaries are increasingly being asked to incorporate Economic Scenario Generators into their work. Whether it be a Risk Neutral model for pricing or a Real-World version for Economic Capital modelling, using these tools can help produce a much more robust analysis. Unfortunately, these models and their underpinnings are also very complicated, which can lead to confusion. The presenters in this session will try to demystify some of this. In particular, they will address the following questions: • What is the difference between Real-World and Risk Neutral scenarios? • When should I use one or the other? • How are these models calibrated? • What are some of the misconceptions about these models?

Description: This research report study uses the property/liability insurance industry as a research sample to examine how risk management, financial management, and capital management are related to each another. This allows reflecting such relationships in: 1. the managerial decisions in the choice of derivative and reinsurance use. 2. the allocation of asset risks. 3. the determination of underwriting activities as well as liabiity risks. 4. the adequacy of capital levels.