Description: Long-term guarantees place unanticipated burdens on companies because of the degree to which the environment can change. These risks are compounded when combined with estimation of policyholder behavior, especially when solid experience data is not available. When risks are properly reflected, long-term guarantees do not always provide value to the customer in excess of the manufacturing cost. The product development actuary is challenged to compare customer value to company cost and use that measurement to identify novel ways to design products to better serve customers.

Description: Chapter 5 of the Price, Waterhouse study presents an extensive collection of tables attempting to capture the size, risk, age, and objectives of the examined programs in an understandable, comparative format. From Study of Public Financial Guarantee Programs, M-FI96-2.

Description: Chapter 3 of the Price, Waterhouse study contains an extensive collection of descriptive tables. From Study of Public Financial Guarantee Programs, M-FI96-2.

Description: This report helps to identify key socioeconomic trends influencing the need and demand for the industry's products and services, and how these trends will influence marketing methods.