Record of Society of Actuaries 1997, Vol. 23, No. 3 - Contents

Washington D.C. Meeting October 26–29, 1997

This issue of the Record was edited by:
Gary S. Lange (Chairperson), Marilyn Brown, Edward F. Cowman (Lead Editor), Richard JamesHyclak, Steven Floyd Malerich, Dennis Monaghan, and Jack A. Rollier

This volume of the Record contains top sessions based on attendance and sessions approved and/or selected by the various sections of the SOA to be available on the Web.

All sessions that have been transcribed contain a link posted below. If a title does not have a link, no transcript is available. However, the session may be available on tape. Please contact Aven tapes for availability and ordering information at Aven.com.

If you have any questions regarding this and future releases from the Record, contact Glenda Maki, associate editor.

• Session #3 PD
• Financial Engineers: Who Are These Guys?
• Paul V. Bruce, Randall L. Boushek, Shane A. Chalke, William N. Kocken, Thomas S. Y. Ho
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• Session #4 PD
• Developing to Distributed N–Tier Client/Server Applications
• Michael F. Davlin, J. Peter Donlon, Jonathon Zuck
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• Session #5 PD
• Term Insurance Reserving
• Marina Adelsky, Kathleen Hansberger, R. Thomas Herget
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• Session #6 PD
• Hot Topics in Individual Disability Income
• Robert W. Beal, Duncan Briggs, Richard A. Magro, Heather S. Westman
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• Session #7 PD
• The International Forum of Actuarial
• Christopher David Daykin, Sam Gutterman
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• Session #8 PD
• Social Security And The Stock Market–Risk And Returns
• Janice P. Bricker, Stephen C. Goss
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• Session #9 PD
• Managing Risk–Based Capital (RBC)
• Christopher David Daykin, Sam Gutterman
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• Session #10 PD
• Mortality in the 21st Century
• Thomas P. Edwalds, Edwin C. Hustead, Marilyn Miller Oliver, Michael M. C. Sze
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• Session #11 PD
• Variable Products—Pricing Issues
• Nancy M. Kenneally, Timothy J. Ruark, Daniel Theodore
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• Session #12 PD
• Cost of Product Compliance
• Linda L. Lanam, James N. Van Elsen, Roger K. Wiard–Bauer, Alex Zeid
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• Session #14 MM
• Multimedia Presentation of 32nd Actuarial Research Conference
• Arnold F. Shapiro
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• Session #15 TS
• Deferred Annuity Reserving–Guideline 33
• Robert J. LaLonde, James W. Lamson
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• Session #16 TS
• The Alphabet Soup of Managed–Care Organizations
• Grady C. Catterall, Timothy M. Ross
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• Session #27 PD
• Radical Product Implementation
• Robert G. Fairchild, David C. Miller, Jeffrey M. Robinson
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• Session #28 PD
• Taxation of Multinationals
• James  Cohen, Charles (Bud) D. Friedstat, Dan Horowitz, Edward L. Robbins
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• Session #29 PD
• Financial Reporting Issues In Mergers and Acquisitions
• Robert L. Biesenherz, Scott R. Munse, John P. Schreiner, Thomas E. Skillman
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• Session #30 PD
• Perspectives on the Old Age Crisis
• E. Tom Hughes, Robert M. Katz, Anna M. Rappaport, Dimitri Vittas
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• Session #31 PD
• The Revitalized Lloyd´s of London
• Andrew S. Niedzielski, Erik J. Rasmussen
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• Session #32 PD
• The Balanced Scorecard: Measuring What Matters
• R. J. Bannister, David E. Neve, James R. Trefz
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• Session #33 PD
• Are Individual Annuities Profitable?
• Noel J. Abkemeier, Douglas C. Doll, John M. Fenton, Paul H. LeFevre
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• Session #34 IF
• Genetic Testing and Risk Classification
• David J. Christianson, Arnold A. Dicke, J. Alexander Lowden, Roberta B. Meyer, Harry Ostrer
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• Session #37 TS
• Trends and Events in Lead Generation
• Joseph E. Brennan, John J. Harrison, Jay M. Jaffe
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• Session #46 SM
• The Issues of Financial Modernization
• Gary E. Hughes, Craig R. Raymond
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• Session #47 SM
• A Look at Various International Issues
• William J. Bugg, Jr., Christopher D. Daykin, Duncan G. Ferguson, Sam Gutterman, Walter S. Rugland
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• Session #48 SM
• FASB Update
• Prakash A. Shimpi, Wayne S. Upton, Jr.
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• Session #49 SM
• How Does the Reinsurance Industry Influence Its Environment?
• David B. Atkinson, Le Roy H. Christenson, Franklin W. Nutter
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• Session #52 SM
• Living Futurism
• Joseph F. Coates, E. Tom Hughes
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• Session #61 PD
• Measuring Morbidity in Long–Term Care
• Gary L. Corliss, Mark S. Dinsmore, Robert O. Young
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• Session #62 PD
• Dealing with Legislation–A Trade Association View
• Lynn D. Dudley, Janice Gregory, Amy C. Viener
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• Session #63 PD
• Perspectives on Various Distribution Channels
• Neil N. Bernstein, Douglas A. French, George W. Tang, Edward A. Turner
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• Session #65 PD
• "Actuarial Counseling"—A New Role for the Actuarial Profession
• David G.W. Bragg, John M. Bragg, Gary J. Mevorah, Thomas J. Walker, Teresa Russ Winer
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• Session #71 PD
• The Knowledge Discovery Process: Mining the Data Warehouse
• Michael F. Davlin, Herbert A. Edelstein, David L. Mariani, J. Bradley Murray, Darin G. Zimmerman
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• Session #72 PD
• Fair–Value Reporting
• J. Peter Duran, Wayne S. Upton Jr.
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• Session #73 PD
• Deferred Annuity Reserving
• Thomas A. Campbell, Neil J. Davidson, Edward P. Mohoric, Michael J. O'Connor
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• Session #74 PD
• Securitization of Insurance Company Assets and Liabilities
• Mark G. Retik, Prakash A. Shimpi
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• Session #75 PD
• Assumption Selection in Light of Actuarial Standard of Practice No. 27
• Caren Levitt Bianco, Bruce Anthony Cadenhead
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• Session #76 PD
• Recent Trends in Individual Life Mortality
• Mary J. Bahna–Nolan, Jay D. Biehl, David G. W. Bragg, Allen M. Klein, Paul A. Schuster
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• Session #77 PD
• Current Regulatory Topics
• Donna R. Claire, Thomas C. Foley
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• Session #78 PD
• Actuarial Modeling
• Allan Brender, Robert E. Hoyt, Edwin C. Hustead, Zain Mohey–Deen
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• Session #79 PD
• Bank Alliance Niche For Insurers
• John K. Hillman, Steven M. Landberg, Paul J. Sulek, Julie L. Williams
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• Session #80 D
• MBA vs. FSA—Can Actuaries Compete in the Financial Services Market?
• John G. Geiss, William R. Horbatt, Steven R. Linney, Alan J. Sheptin, David W. Simpson, Ronnie Y. Tan
•  
• Session #81 D
• Ethical Issues in Managed Care: Where Do We Draw the Line?
• Tim Flaherty, Dennis J. Hulet, James J. Murphy
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• Session #82 OF
• The Old–Age Crisis
• Christopher David Daykin, Robert B. Friedland, Robert M. Katz, Anna M. Rappaport, Dimitri Vittas
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• Session #83 TS
• The Evolution of Actuarial Mathematics
• Newton L. Bowers, Jr., James C. Hickman, Donald A. Jones
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• Session #94 OF
• Recent Activity of the Life Practice Council
• Arnold A. Dicke, Christine Cassidy, David J. Christianson, Donna R. Claire, James E. Hohmann, William C. Koenig, Cande Olsen, Craig R. Raymond, Walter S. Rugland, Henry W. Siegel, Robert E. Wilcox
•  
• Session #95 PD
• Financial Reporting of Multinationals
• Edward J. Bonach, Mark J. Freedman, Michael Tern, Philip Whitefield
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• Session #96 PD
• Risk Management
• Thomas S.Y. Ho, Alastair G. Longley–, Shirley Hwei–Chung Shao
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• Session #97 PD
• U. S. Life Company Taxation
• Michael V. Eckman, Brian Kavanagh, Arthur V. Panighetti, Edward L. Robbins
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• Session #98 PD
• Managed Medicare Plans
• Clifton I. Maze, Michael Gerard Strum, David O. Thoe
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• Session #99 PD
• Equity–Indexed Insurance Products–Pricing, Investment, Accounting, and Reserving
• Bruce J. Crozier, Steven A. Eisenberg, William T. McKinzie
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• Session #101 PD
• Current Issues for U.S. Social Security and the Canadian Pension Plan (CPP)
• Joseph A. Applebaum, Robert L. Brown, Stephen C. Goss, Krzysztof M. Ostaszewski
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• Session #102 PD
• Introduction to Group Disability Income Reinsurance
• Jeffrey E. Babino, Michael D. Lachance, John Wiggin
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• Session #103 I
• Selling Life Insurance Over the Internet
• Tom Matthews, Edward F. McKernan, O. William O'Quin, Michelle D. Smith
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• Session #104 IF
• Actuarial Careers in Software
• David N. Karo, Josiah Lynch, Mark S. Mahany, Douglas S. Van Dam
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• Session #105 TS
• Surfing and Searching on the Internet
• Peggy J. Grillot, Debbie Jay, J. Bradley Murray
•  
• Session #107 TS
• Marketing Yourself Through Public Relations
• Jacqueline Bitowt, Cecilia Green, Linda Heacox
•  
• Session #110 IF
• Work of the SOA Research Effectiveness Task Force
• A. Norman Crowder III, Warren R. Luckner
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• Session #115 SM
• Overview of Tax Changes
• John M. Fenton, Steve Glaze
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• Session #116 SM
• Market Conduct Issues for Small Companies
• David A. Christopher, Norma Y. Christopher, Scott J. Cipinko, Wayne A. Shrader
•  
• Session #117 PD
• Current Developments in Financial Reporting
• Arnold A. Dicke, Shirley Hwei–Chung Shao, William C. Weller, Robert E. Wilcox
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• Session #118 TS
• Guaranteed Minimum Death Benefits (GMDB)—Reserving, Modeling, and Investment Implications
• Michael W. Pado, Lilia Sham, Darin G. Zimmerman
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• Session #119 CS
• Case Study For Establishing an Optimal Investment Strategy
• Timothy Burton, Gregory J. Roemelt, Michael Samouce, J. Larry White
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• Session #120 IF
• Dynamic Financial Condition Analysis Update
• Jeffrey G. Allen, William J. Bugg, Jr., Michael V. Eckman, Stephen D. Reddy, James F. Reiskytl, Craig W. Reynolds
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• Session #121 IF
• National Academy on Aging—Planning for an Older Society
• Judith Feder, Robert B. Friedland, Richard Joss, Marilyn Moon, Ronald L. Soloman
•  
• Session #122 IF
• Is Social Security a Regressive System?
• Robert L. Brown, Stephen C. Goss, Michael M.C. Sze
•  
• Session #123 OF
• Education and Exam Redesign
• Cecil Bykerk, Peter Hepokoski, Marta L. Holmberg, Richard F. Lambert
•  
• Session #125 TS (Record Not Available)
• See You in Court: Not!
• Lorraine R. Graybill, Chester M. Lozowski
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• Session #128 OF
• Life Company Trends, as Seen Through the Eyes of the Chief/Corporate Actuary
• Helen Galt, Patricia L. Guinn, Douglas Menkes
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• Session #129 CS
• The Price is Right: Market Research for Actuaries
• William R. Horbatt, John Parsons, J. Samuel Ray
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• Session #132 PD (Record Not Available)
• Reinsurance Issues Related to Financial Reporting
• Franklin C. Clapper, Jr., Andrew R. Creighton, Allan W. Ryan
•  
• Session #133 PD
• Physician–Owned Health Plans–Managing the Paradox
• Robert Dannenhoffer, Jon Harris–Shaprio, James T. O'Connor
•  
• Session #134 PD
• Hot Topics in Group Disability Income
• Thomas R. Cocoran, Andrew S. Galenda, Pamela J. Saunders
•  
• Session #136 PD (Record Not Available)
• Methods for Measuring Investment Performance
• Frederick W. Jackson, Martin P. Klein, Steven P. Miller
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• Session #137 PD
• The Tax Man Cometh–Making the Most of Planning Opportunities After Pension Simplification
• William W. Bush III, Elliot N. Dinkin
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• Session #138 PD
• An Immediate Annuity With Cash–Out Rights?
• Jeffrey S. Drake, Timothy C. Pfeifer, Robert J. Scheinerman
•  
• Session #139 PD
• Current Issues in Life Insurance Pricing
• Tom Bakos, Raymond E. DiDonna, Douglas C. Doll, Craig W. Reynolds
•  
• Session #140 PD
• Reinsurance of Equity–Indexed Annuities
• W. David Fairhall, Inger S. Harrington Mary J. Bahna–Nolan, Melvin C. McFall, J. Lynn Peabody
•  
• Session #141 PD
• Current Investment Topics
• Mark W. Griffin, Anna Hansen, David Power, Stephen D. Reddy
•  
• Session #142 OF
• Committee on Life Insurance Research Update
• Faye Albert, Robert J. Johansen, Klaus O. Shigley, Irwin T. Vanderhoof
•  
• Session #144 TS
• Stop Managing, Start Coaching!
• Nathaniel W. Boughton, Lisa F. Tourville
•  
• Session #148 PD
• Statuatory Codification Update
• Matthew J. Adams, Stephen J. Johnson, Henry W. Siegel
•  
• Session #150 PD
• Stories About Managed Medicaid Plans
• Rex M. Durington, Bryan F. Miller, William J. Thompson
•  
• Session #151 PD
• Asset/Liability Modeling and Portfolio Optimization
• Lawrence A. Berger, Catherine E. Ehrlich
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• Session #152 PD (Record Not Available)
• How Annuities are Really Sold
• Danny Fisher, Mark A. Milton, Linda S. Need, Deanne L. Osgood
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• Session #153 PD
• Corporate–Owned Life Insurance (COLI) Current Marketplace and What It Takes to Become a Successful Carrier
• John D. Branscomb, Ian Arthur Glew, Larry R. Sluder, Gary Thomas
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• Session #154 PD (Record Not Available)
• Asset Valuation Methods for Pension Plans
• Douglas W. Andrews, Daniel P. Cassidy, Rick G. Mayo, Laurence Pinzur
•  
• * Credibility and Health Insurance
• Thomas N. Herzog, H. Dennis Tolley
•  
• * Dynamic Dynamic–Programming Solutions for the Portfolio of Risky Assets
• Michael F. Davlin, Mark Tenney
•  
• * Employment Trends for Actuaries
• Joseph T. Brophy, Michael J. Corey, Teresa Michalewicz, Kenneth Mitchell
•  
• * Experience Rating and Claims Reserves in Group Insurance
• Charles S. Fuhrer
•  
• * Global Assessment of Bancassurance
• Michael E. Gabon, Peter H. M. Kuys, Steven D. Lash, Trevor J. Matthews
•  
• * Impact of Technology on Health Care Delivery Systems
• E. Stephanie Crowley, Liz Krimendahl, Lee H. Resnick, Michael S. Miele
•  
• * Valuing Foreign Business
• Michael E. Gabon, Bruce D. Moore, James Ramenda, Henryk S. Walerys
•  
• * What's Happening on the Hill
• Thomas R. Corcoran, P. Anthony Hammond, Edwin C. Hustead, James J. Murphy, Dallas L. Salisbury
•  
• * Whither Scenario Testing
• Phelim Boyle, Steven L. Craighead, Thomas N. Herzog, Graham Llyod
•  
• *The following sessions from the Washington Annual Meeting, October 26–29, 1997will not be available on the Society's Web site and will not be available for release tothe public. Record sessions must meet certain standards before they can bereleased to the membership. The recorded version of these sessions failed to meet thesestandards for a variety of reasons.