Recently Published Research
This page highlights new papers and reports from the SOA Research Institute.
Trending Research
Visit our Trending Research Page for a quick synopsis of our most popular research reports. We’ve highlighted the most clicked research items.
New Research:
2022 Mortality Improvement Survey Report
This report summarizes the results of the 2022 Mortality Improvement Survey examining mortality improvement practices of life and annuity companies in the U.S. and Canada as of year-end 2021. The survey focused on the use of mortality improvement and how it has changed for financial projection and pricing modeling following the initial stages of COVID-19.
Mental Illness and Its Impact on U.S. Mortality and Longevity
This report examines the impact of mental illness on U.S. population mortality and longevity. It also explores the impact of the COVID-19 pandemic on mental illness.
Overview of Nonguaranteed Elements (NGEs)
Non-guaranteed elements are parameters of life insurance and annuity polices that are not fixed when the policy is issued but may be changed from time to time by the insurance company. They emerged in the United States and other countries as features of Universal Life and similar products designed to make insurance more competitive in an environment where fully guaranteed products did not have sufficient flexibility to respond to rapidly changing conditions. This overview covers professional guidance, regulations and practical issues with reviewing and revising non-guaranteed parameters.
Group Life COVID-19 Mortality Survey (Updated through June 2022)
The Group Life COVID-19 Mortality Survey gathers a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic through June 2022, as compared to prior period baseline mortality results. This new report is an update to the survey report released in August 2022, which contained data through March 2022.
Getzen Model of Long-Run Medical Cost Trends: Update for 2023 - 2033+
The aftershocks of the COVID pandemic will pass eventually. Government subsidies and spending soared in 2020 to meet the challenges of the pandemic. Health expenditures leapt from 17.6% of GDP to 19.7%, and then dropped to 18.8% in 2021, and will fall again to 18.2% (projected) in 2022, but are expected to return to the long-run trend by 2024 and gradually rise thereafter. However, during the next few years most attention will be paid to dealing with complex aftershocks from the flood of Covid funding in 2020 and 2021, a surge of inflation in 2022, and a looming recession in 2023.
Actuarial Technology Issues - A Roundtable Discussion - August 2022 Update
On August 29, 2022, the SOA Research Institute assembled an industry expert panel to discuss current issues in actuarial technology. This was the third time such a panel was assembled, and most panelists had participated in the previous discussions.
A Summary of the 2022 Wall Street Journal Future of Health
On September 14, 2022, The Wall Street Journal hosted its ‘Future of Health’ event, which was a virtual event featuring three sessions on some emerging cutting-edge topics that could impact the future healthcare environment as well as health care actuaries. This report summarizes the event.
2021 Retirement Risk Survey Brief – Identifying Retirement Risks and Trends
Review the new addition to the survey materials, a brief report focused on trends in the broad range of concerns that pre-retirees and retirees have regarding retirement that have been examined in the Retirement Risk Survey.
U.S. Individual Life COVID-19 Mortality Experience Study – Fourth Quarter 2021 Update
This report is presented in the form of a Tableau dashboard and is the sixth public release from this report series and contains the results of an excess mortality analysis for the fourth quarter of 2021. Data from 30 companies representing approximately 69% of the industry’s face amount inforce were included in the analyses in this report. A total of 3.4 million death claims from individual life policies from 2015 through December 31, 2021, make up the basis of the analyses. The report also compares the experience under COVID-19 of the insured population versus the general population.
A Practical Guide for Working with Weather Datasets
This series of papers is intended to serve as a practical guide for actuaries and researchers who wish to analyze weather datasets. The first paper provides an overview of the main types of weather datasets. A wide range of datasets will be covered in this series of papers.
The Mortality Improvement Model, MIM-2021- V3
MIM-2021-v3 is the second revision since the initial release in April 2021. This version uses the same underpinning as MIM-2021-v2, but the MIM-2021-v3 Application Tool has been enhanced to include a more straightforward user interface and the addition of a preselected parameter set designed as a possible starting point for individual life insurance and individual annuity practitioners.
The Impact of Disaster Events on Investments - Contagion Channels Perspective
The Society of Actuaries’ Committee on Finance Research is pleased to make available a research report covering the extent to which investment sectors have been contagiously affected by major disasters.
Aging and Retirement Issues for LGBTQ+ People - Essay Collection
The Society of Actuaries Research Institute’s Aging and Retirement Strategic Research Program in collaboration with the Sexuality and Gender Alliance of Actuaries (SAGAA) is pleased to release a collection of essays in response to a call for essays aimed at a broader exploration of issues related to aging and retirement for LGBTQ+ people.
2021 Provisional U.S. Population Mortality Key Observations
In this report, we consider high-level results from provisional mortality data released from the U.S. Centers for Disease Control and Prevention (CDC) for 2021, including looking at changes by sex and age group. There are multiple measures for mortality that can be used in investigating trends. In this paper, we will be using crude death rates, age-adjusted death rates, and period life expectancy.
Catastrophe & Climate Strategic Research Program Newsletter, October 2022
Examine the October issue of the Catastrophe & Climate Strategic Research Program Newsletter from the SOA Research Institute. Read an article that explores the actuarial perspective on COP 27, being help in Egypt by Sam Gutterman, and an article that explores the impact of climate change on the water supply by Max Rudolph.
RPEC 2022 Mortality Improvement Update
This report presents research into recent population mortality experience compiled by the Retirement Plans Experience Committee of the Society of Actuaries Research Institute as it pertains to development of mortality improvement assumptions for measuring obligations of retirement programs in the United States
The Mortality Improvement Model, MIM-2021- V3
The MIM Advisory Group (“Advisory Group”) developed a single framework to serve as a consistent base for practitioners in projecting mortality improvement. MIM-2021-v3 is the second revision since the initial release in April 2021. This version uses the same underpinning as MIM-2021-v2 but the MIM-2021-v3 Application Tool has been enhanced to include a more straightforward user interface and the addition of a preselected parameter set designed as a possible starting point for individual life insurance and individual annuity practitioners.
Analyzing Geographical Variation in Cause-of-Death Mortality for China
This report models and forecasts future mortality improvements in China, by geographical regions, as well as by causes of death. Deaths and population exposures data provided by the Chinese Center for Disease Control and Prevention was used for the period 2004–2019.
Decentralized Insurance Alternatives: Market Landscape, Opportunities and Challenges
Decentralized insurance alternatives is a rapidly expanding sector of Decentralized Finance (DeFi), an emerging and growing financial ecosystem powered by blockchain technologies. The purpose of this report is to review and discuss the business models and operating designs of decentralized insurance alternatives, which may have significant implications for traditional insurance businesses, as well as the actuarial profession.
Inspiring Actuarial Education through Learning Communities and Research Experiences
This project pertained to the development of a new Actuarial Science Learning Community model, involving four types of students' engagement: academic coursework, residential life, research, and professional development. The model provided students an immersive exposure to Data Science from the Actuarial perspective, which will result in Actuarial students greatly expanding their skill set and future job opportunities, at the intersection of Actuarial Science and Data Science.
Research Insight Podcasts, New Episodes:
2022 Mortality Improvement Survey Report
Listen to Max J. Rudolph, FSA, CFA, CERA, MAAA from Rudolph Financial Consulting, LLC discuss the 2022 Mortality Improvement Survey Report with host, R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Research Institute Managing Director.
Mental Illness and Its Impact on U.S. Mortality and Longevity
Listen to Becky Sheppard, FSA, MAAA, Actuarial Manager at Risk & Regulatory Consulting discuss Mental Illness and Its Impact on U.S. Mortality and Longevity with host, R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Research Institute Managing Director.
Research Focus Edition, Open Enrollment
In this research focus edition podcast, listen to R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Research Institute Managing Director discuss Open Enrollment.
SOA Research Institute Virtual Open House, October 19, 2022
R. Dale Hall, FSA, CERA, MAAA, CFA, Managing Director of the SOA Research Institute recently held a virtual open house highlighting the work of the Institute and opportunities to get involved in Institute research.
Mortality and Longevity Strategic Research Program Round Up, Fall 2022
Listen to Ronora Stryker, ASA, MAAA, SOA Research Institute Senior Practice Research Actuary discuss research outputs and current events of the Mortality and Longevity Strategic Research Program with host, R. Dale Hall, FSA, CERA, MAAA, CFA, Managing Director of the SOA Research Institute.
COP 27 Preview
Listen to Rade Musulin and Stuart Wason, both from the International Actuarial Association's (IAA) Climate Risk Task Force, preview COP 27 with host, R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Research Institute Managing Director. COP 27 will be held in Sharm El Sheikh, Egypt from November 6, to November 18, 2022.
RPEC 2022 Mortality Improvement Update
Listen to Patrick Nolan, FSA, MAAA, SOA Research Institute Senior Experience Studies Actuary, and Marty Hill, FSA, MAAA, Director at PwC and SOA Research Institute Retirement Plan Experience Committee (RPEC) Mortality Improvement Subcommittee chairperson discuss the RPEC 2022 Mortality Improvement Update with host R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Research Institute Managing Director.
Questions or Comments?
If you have comments or questions, please send an email to research@soa.org.