Description: This study, part of the Society of Actuaries [SOA} ‘Research Projects – Finance/Investment,’ is sponsored by the SOA Futurism Section, Investment Section, Committee on Finance Research and Committee on Knowledge Extension Research. This study investigates the merits of conducting a study on economic variables utilizing the Delphi method, a futures research technique. The report consists of eight documents, the report and seven Appendices [A through G].

Description: Variable annuity (VA) writers are facing many challenges in today's economic environment. Equity market volatility and low interest rates make guaranteed benefits increasingly expensive to hedge. Both GAAP Long Duration Targeted Improvements and the recent VM-21 changes will drive the need to manage the VA business under a new set of lenses. During this session, the presenters will explore the various in-force management tools VA writers have available and comment on their effectiveness.

Description: The National Association of Insurance Commissioners (NAIC) is in the middle of of a project to change the real-world economic scenario generator (RW ESG) prescribed for principle-based reserve and capital calculations. The presenters will provide a brief summary of the NAIC's RW ESG project and provide a general overview of RW ESGs. In addition to that, they will explain how RW ESGs impact principle-based reserve and capital levels and consider potential differences between the currently prescribed RW ESG and the proposed RW ESG.

Description: Despite a considerable accumulation of empirical and theoretical evidence in the last two decades in favor of a slowdown in the rate of mortality increase with age, the veracity of mortality deceleration observed at very old ages among humans was recently called into question on the basis of: (1) inaccurate data, (2) invalid assumptions, and/or (3) inadequate mixture of birth cohorts with different mortality experiences. In this article, we use a highly reliable set of individual-level data on French-Canadians centenarians born between 1870 and 1896 and who died between 1970 and 2009 to compute new estimates of the age-trajectory of mortality at ages 100 and over. Our results suggest that the rate of mortality increase with age tends to slow down at very old ages, even when special care is taken to avoid issues (1) to (3) outlined above.

Description: Web page for posting research paper that explores the impact of ETS exposure on mortality and morbidity and the possible related consequences for the insurance industry.

Description: This SOA report identifies methodologies currently in use by life insurers as well as potential new strategies to manage balance sheet and income volatility risk associated with fair value and related accounting

Description: Data science, predictive analytics and AI are certainly the buzzwords these days. They are heavily used and developed in underwriting and marketing but for most actuaries, they might/may as well be science fiction. The presenters will demonstrate how a normal actuary can utilize data science techniques in their daily job function without forming an official data science team within a company. It can be done in a gradual fashion so that normal business is not disrupted and improvements are made over time. The usage of data science techniques will include demonstrations of the following areas: - Regression analysis - Economic scenario generator - Experience study - Data quality checks - Inforce compression for explicit hedging

Description: This is a brief report that summarizes recent changes in the prevalent medical loss ratio methodologies and also looks at some of the more recent experience of health insurers that filed medical loss ratio reports.

Description: The Society of Actuaries is honored to announce the recipients of the Outstanding Session Awards for the 2021 Life Meeting that took place virtually Aug. 30 – Sept. 1.

Description: 2021 Life Meeting - Session 3F: LDTI - Disclosure Production Deep Dive 8.30.21 Recording