The SOA Joins the NAIC Fall 2024 Meeting in the Mile-High City

The Society of Actuaries (SOA) attended the National Association of Insurance Commissioners (NAIC) 2024 Hybrid Fall National Meeting, which took place Nov. 16 – 19 at the Gaylord Rockies Hotel and Convention Center in Denver, CO. SOA staff joined state insurance regulators, industry representatives and other insurance experts at this final national NAIC meeting this year to share research and join discussions about relevant topics.

Important Mortality Experience and Practice Research

Marianne Purushotham, FSA, MAAA, LIMRA Corporate Vice President for Statistical Analysis and Modeling and SOA volunteer with the Mortality and Longevity Oversight Advisory Council, presented an update on Historical Mortality Improvement (HMI) and Future Mortality Improvement (FMI) factors to the Life Actuarial (A) Task Force (LATF).

R. Dale Hall, FSA, MAAA, CERA, Managing Director of Research, SOA Research Institute, presented the Individual Life Insurance Mortality Experience Report, published in October 2024 by the SOA Research Institute. He also mentioned the latest Experience Studies Pro, which are developed in partnership with LIMRA:

• 2021-2022 Fixed Index Annuity Policyholder Behavior Experience Study
• 2015-2022 Fixed Rate Deferred Surrender Study
• 2015-2021 Universal Life Premium Persistency Study

These reports and data packages, which are available for purchase, are the latest releases in the Experience Studies Pro series. Hall also presented an overview of other experience studies and practice research completed by the SOA Research Institute in 2024.

Recent Research into Health Care Spending

Hall presented research updates to the Health Actuarial (B) Task Force (HATF). He discussed Medicaid Managed Care Underwriting Margin and explained that researchers added data from 2020-2022 NAIC reporting statements, along with current financial and risk-based capital information.

He also shared findings from the Long-term Care Medical Trend Update: 2025-2035+ and the Update on Long-term Care Experience Study. He also gave an overview of other research and experience studies completed in 2024.

R. Dale Hall, FSA, MAAA, CERA, Managing Director of Research, SOA Research Institute, presents updates to the Health Actuarial (B) Task Force at the NAIC Fall 2024 Hybrid National Meeting in Denver.

Climate-related Studies and Education Update

Doug Norris, FSA, MAAA, Staff Fellow, Fellowship Education, SOA, shared the latest developments of the SOA’s Fellowship pathway redesign with the LATF. Additionally, the LATF, HATF and the Casualty Actuarial and Statistical Task Force (CASTF) discussed the Academy’s knowledge statements including feedback given by the SOA. Ann Weber, SOA Legal, also presented the Actuarial Weather Extremes September report to the CASTF and highlighted information and data on Hurricane Helene’s losses.

A Lively Discussion About New Ideas

The SOA also hosted a well-attended reception dinner for SOA members. Colorado Insurance Commissioner Michael Conway joined as the guest speaker. Attendees enjoyed an informative discussion with Conway on a myriad of topics, including the continued evolution of artificial intelligence in the insurance industry.

Learn more about SOA Research Institute activities and explore its wide range of research across practices.