2025 SOA ImpACT Conference: Session 2D: The Price Is Right: Trends in Life and Annuity Pricing-11.03.25 Recording

In today's environment of persistent market volatility, fluctuating interest rates, and evolving policyholder behavior, the need for robust and forward-looking pricing of life insurance and annuity products has never been greater. Actuaries play a critical role in ensuring these products remain sustainable, competitive, and aligned with a company's risk appetite and financial goals.This session will provide an overview of key considerations in pricing, including common methodologies, assumptions, and the role of financial and risk metrics in evaluating product performance. Drawing on insights from our panel of experts from direct writers, reinsurers, and consultants, as well as a recent survey of over 50 life insurance companies, we'll highlight current industry practices and emerging trends that influence pricing strategies across the market.The presentation will touch on practical challenges such as balancing model complexity with usability, illustration considerations, maintaining assumption credibility, key differences between life, annuity, and reinsurance pricing, and aligning pricing practices with enterprise risk management. By attending this session, participants will enhance their understanding of key methodologies and assumptions, emerging trends in pricing, common profitability and risk metrics, and the role of of corporate governance and risk management.