A Principle-based approach towards life insurance reserves has been a hot-topic in the industry for years. The updated valuation manual has adopted VM-20 to turn this into even more of a reality, as well as introducing the 2017 CSO Mortality table. Presenters will discuss the basics of VM-20 and the 2017 CSO table, and how profit measures may be evaluated under PBR. They will also cover impacts and considerations specific to the pricing actuary so that participants can apply impacts to their own strategy around product development and in-force product management.
At the conclusion of the session, attendees will be able to:
· Describe impacts of VM-20, 2017 CSO and profit measures to the pricing actuary; and
· Evaluate the impact of VM-20 and 2017 CSO towards strategy around product development and in-force product management.
Experience Level: Intermediate
Country Relevance: U.S.