Predictive Models on Conversion Studies for Level Premium Term Plans
The Reinsurance Section, Product Development Section and the Committee on Life Insurance Research announce the release of a new report summarizing the third phase results of a multi-phase study on term conversions. This report explores conversion rates and post-conversion experience using predictive analytics. Three models are presented in the paper and aim to understand the drivers that impact policyholder conversion and post-conversion behavior as well as the difference between post-conversion mortality and term mortality. Authored by Richard Xu, Minyu Cao, Anthony Woods, and Mark Li of RGA, this study extends research presented in the Phase 2 report.
The Sponsors would like to thank the following individuals who served on the Project Oversight Group:
Tom Edwalds, Chair
Jack Luff, SOA Experience Studies Actuary
Ronora Stryker, SOA Research Actuary
Jan Schuh, SOA Sr. Research Administrator
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