V21 - Impact of PBR on Life Product Development

Date

May 16, 2016

  • Strategic Insight and Integration

Presented by 

Product Development Section

Description

The new VM-20 reserve standard has been addressed extensively from a valuation perspective. Presenters will focus on how the new regulation may impact the product development process, including company product portfolios, prioritization and features.  Related lessons learned from PBR implementation in the annuity marketplace will be discussed and connected to VM-20 implementation.

At the conclusion of the session, attendees will:

  • Have a better understanding of VM-20;
  • Understand some potential impacts of VM-20 on the product development process; and
  • Be able to apply annuity PBR experience to life PBR implementation.

Back

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.