Mortality Improvement is fundamental to setting your mortality assumptions. Creating your own Mortality Improvement assumption may seem like a Herculean task. The truth is creating a mortality improvement assumption with tools provided by the SOA, or the Continuous Mortality Investigation (CMI) make the process easy. Leaving you with the Herculean task of deciding if the assumption you created fits your product. Expect to learn about the CMI tool and the SOA's Mortality Improvement Model (MIM) tool, how you might get data to use in those tools, and what assumptions you need to make outside of data like what will the MI be in 20 or 30 years? Whether it is the general population, a segment of the general population, or certain causes of death, you will get very different answers.
Key learning outcomes include:
- Building your own mortality improvement from scratch
- Understanding the pitfalls of building your own mortality improvement from scratch
TRACK: Assumptions and Experience Studies (Mortality, Longevity Improvements, Interest Rates, NGE, Etc.);Pricing/ Product Development (Underwriting, ULSG, Etc.)