Research Projects – Risk Management
The Joint Risk Management Section is trying to develop better estimates of policyholder behavior in the tail (PBITT). The mission of the PBITT working group is to examine and ultimately give guidance to actuaries on how to set policyholder assumptions in extreme scenarios.
As part of its work, the PBITT working group issued a survey that gathered the range of assumptions actuaries use in pricing, reserving, and risk management of UL with Secondary Guarantees.
Policyholder Behavior in the Tail Risk Management Section Working Group UL with Secondary Guarantee 2011 Survey Results
Thanks to the members of the PBITT Working Group for their help in issuing and reviewing the survey:
Special thanks to Stephen Hodges, Brian Grinnell, and Mark Bergstrom for their analysis and drafting the report. The working group gratefully acknowledges all of the companies that participated in the survey.
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