Description: Leveraging the research papers "Emerging Technologies and their Impact on Actuarial Science and Top Actuarial Technologies," the presenters of this session will highlight current and emerging actuarial technology trends, discuss how these trends will impact the day-to-day work of actuaries, and explain what actuaries can do to adapt.

Description: Describes a process for identifying relevant industry experience to credibility-weight with relevant company experience to set modeling assumptions and margins.

Description: Examines historical life insurance and annuity policyholder mortality improvement trends and/or mortality improvement rates and how they compare to that of the general US and international populations. Discusses techniques for modeling and projecting future mortality improvements

Description: This research study aims to understand the current and planned use of various technology types and tools and to highlight those technologies that are anticipated to grow the fastest among actuaries in 2019.

Description: This report is a summary based on current actuarial practices around the development and use of policyholder behavior assumptions including the use of dynamic modeling approaches. The research team surveyed and evaluated current practices in the industry; and highlighted current thinking on modeling human behaviors outside the life insurance industry. This project was sponsored by the SOA’s Financial Reporting Section and the Committee on Life Insurance Research.

Description: In 2015, LIMRA partnered with the SOA on a study that focused on examining individual LTC policy termination experience including both voluntary lapse and mortality results. This work was based on data submitted by 22 LTC carriers representing approximately 75 percent of the LTC lives inforce over the study period 2000-2011. This article discusses an area of emphasis for the policy terminations work which was to better understand the impact of data quality on reported results given the continued difficulty for insurers in accurately distinguishing voluntary lapse activity from deaths.

Description: The article is Part 1 of two articles that provide a case study for the development of a profitability and risk dashboard. The sample dashboard provides distilled information regarding actual to expected (A/E) ratios for key risks, agent quality scores and customer value scores. The dashboard would also provide the value of new business written, surplus strain, debit balances, and expected losses on debit balances at different levels, down to the agent level. A product mix index is provided, together with visual comparisons of key metrics to the company's business plan. The Part 2 article will add information to the dashboard regarding risk margins, target capital, and company value.

Description: Future mortality improvement is an important assumption in the valuation of life insurance and annuities. In this session, presenters will discuss the work of the Mortality Improvement subgroup of the American Academy of Actuaries’ Life Experience Committee and the Society of Actuaries’ Preferred Mortality Oversight Group Valuation Basic Table Team in developing mortality improvement scales for AG-38 and VM-20. In addition, two recent SOA efforts on mortality improvement will be examined. Research on developing a broader framework for modeling mortality improvement assumptions is being developed to enable U.S. actuaries additional ways to follow a consistent approach across a variety of actuarial practice applications. Results from a study on U.S. population mortality by socioeconomic category and how it fits into the broader consistent framework will be presented. Additionally, results of a survey on mortality improvement practices of life insurance companies and reinsurers in Canada and the U.S. will be shared.

Description: Examination of full surrender and benefit utilization industry experience for Variable Annuities with and without Guaranteed Lifetime Withdrawal Benefits. Part 1 of 3 articles focuses on full surrenders and building a dynamic surrender function using predictive modeling tools.

Description: U.S. population death statistics and trends often occupy COVID-19 briefings and daily headlines. There are also publicly available mortality data sources for actuaries and others to perform their own analysis. Yet industry studies examining the impact of COVID-19 on insured populations are in their infancy. In this webcast, presenters will provide insights into how the life insured population is faring during COVID-19 by discussing the findings from two recent SOA research initiatives. LIMRA, RGA Reinsurance, the Society of Actuaries and TAI have collaborated on an effort to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience. Additionally, the SOA has surveyed insurers to gather a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic and comparing them to pre-pandemic mortality levels.