Term Conversion Experience Webcast

Date

June 14, 2016

  • Technical Skills & Analytical Problem Solving

Presented by

Product Development & Reinsurance Sections

Description

Most term life insurance policies offer a conversion privilege. This privilege gives the insured the option to convert the policy to a permanent one without providing evidence of insurability. This is subject to the restrictions outlined in the conversion clause in the original term policy. These converted policies are often many years removed from underwriting and may exhibit differing mortality from the block of underwritten permanent policies. As a result, the presence of converted policies may significantly affect the mortality experience of the overall permanent block.

The goal of this project is to quantify the mortality of converted policies and to identify the key variables that have an impact on that mortality.

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Legend

Communication

Demonstrating the listening, writing and speaking skills required to effectively address diverse technical and nontechnical audiences in both formal and informal settings.

Professional Values

Adhering to standards of professional conduct and practice where all business interactions are based on a foundation of integrity, honesty and impartiality.

External Forces & Industry Knowledge

Identifying and incorporating the implications of economic, social, regulatory, geo-political and business changes into the design and delivery of actuarial solutions.

Leadership

Initiating, innovating, inspiring, creating or otherwise acting to influence others regardless of level or role toward a common goal.

Relationship Management & Interpersonal Collaboration

Creating mutually beneficial relationships and work processes toward a common goal.

Technical Skills & Analytical Problem Solving

Applying the actuarial knowledge, skills and judgment required to provide value-added services.

Strategic Insight & Integration

Anticipating trends and strategically aligning actuarial practice with broader organizational business goals.

Results-Oriented Solutions

Providing effective problem solving that addresses relevant interests and needs.