Description: This session discussion is about market developments, federal income tax outlook, investment strategy/crediting strategy, pricing considerations, valuation, nonforfeiture, and state filing considerations. Survivorship life also was discussed in the Q&A. From the 1987 Record of Society of Actuaries, Vol. 13, No. 4B.

Description: Product Development Section’s election results, and bio's of new members.

Description: Chairperson’s column discussing the current challenges of life insurance product development in the present times.

Description: The Society of Actuaries are once again offering a seminar that investigates all aspects of life insurance, annuity and long term care product tax compliance. Developed by the Taxation Section, participants will be brought up-to-date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC), and allow ample opportunities for networking, questions and information exchange.

Description: To better understand the product development process and practices currently used at insurance companies, the Society of Actuaries Marketing and Distribution Section Council initiated a Product Development Survey in the summer of 2006. The goal of the survey was to identify company practices for product development by asking individuals with product implementation responsibilities about the process followed at their companies. For this survey, the “product development process” was viewed holistically – encompassing everything from how ideas are generated through to how products are monitored post-launch. Also, all aspects of the product development process were considered – marketing, actuarial, underwriting, finance, customer service, IT, legal/compliance, etc.

Description: Take part in a practical and forward-looking discussion for long duration targeted improvements (LDTI) implications on financial planning and analysis (FP&A). This session will provide an update on emerging industry practices and considerations for reflecting LDTI in FP&A, including operational headwinds and new opportunities.

Description: Assumptions have been a critical component of actuarial work since the rise of the profession hundreds of years ago. Without well-developed, credible assumptions, reliable financial projections are an impossibility. Yet in 2023, there is still a wide range of assumption processes and governance practices in place throughout the life industry. Follow assumption and governance experts from Oliver Wyman to dig deep into results from our 2023 assumption process and governance survey. Examine what we're seeing currently practiced throughout the industry and offer insights into what we're doing well, as well as where we have opportunities to improve. Explore topics, such as assumption governance frameworks, governance costs, development and review, approval processes, implementation and usage, monitoring, and challenges.Gain a better understanding of how your own assumption processes compare against others in the industry, and learn best practices that can be implemented to improve assumption processes.

Description: The Society of Actuaries and LIMRA have sponsored a Variable Annuity Guaranteed Living Benefit Utilization Study.

Description: With the persistent low interest rate environment, fast pace of regulatory changes and the size of insurers' back-books relative to new business, it is no surprise that insurers have become increasingly focused on their management of non-guaranteed elements ('NGE') for life and annuity business. Come explore the opportunities and challenges offered by NGE management, with consideration for market trends, regulation, the new ASOP 2 and emerging case law.

Description: This session from the 1992 Valuation Actuary Symposium covers recoverability and loss recognition including using cash flow testing to determine loss recognition or recoverability, actuarial standard of practice 14, and valuation work by line of business or issue-year groups.