Description: As product development professionals, we know that getting customer feedback is a key component of the product development process. If crafted carefully, these sessions can uncover true unmet needs, unlock the next product innovation, and create market share gains, all while creating something that contributes to society. As quoted during one of our last focus groups, “Magic stuff happens here.” When designing your research, are you doing all that you can to promote inclusive thinking? By focusing on the design of your study—through overall theme and by paying attention to the details in the process—you can uncover new perspectives that you may not have considered, if not for being deliberate in your actions. Instead of just avoiding structures that create biases, we need to actively incorporate inclusivity. Our team performed a study titled “Designing Solutions to Empower Women,” which focused on women’s viewpoints and how those could be incorporated into life insurance product development. I would love to share some of my experiences and tips collected along the way.

Description: Read the Quo Vadis Reinsurance.

Description: To understand the relationship between lifestyle behaviors and mortality, RGA investigated a national, health-related, mortality-linked data set provided by the U.S. Centers for Disease Control and Prevention (CDC). RGA Strategic Research Actuary Julianne Callaway discusses the company's findings.

Description: Against the backdrop of low interest rates, rapidly expanding data analytic capabilities, and increased consumer demand for better products, many life insurers struggle to innovate their product development initiatives. RGA conducted an online survey in the third quarter of 2018, asking 30 leading life insurance companies in Japan to identify current and future product development trends. A complementary survey of approximately 4,800 policyholders of life products in Japan was also completed in 2018. The findings highlight the product trends for risk, savings and living benefit products being developed, the market segments being targeted, and how insurers are differentiating product offerings through unique features and value-added services. Companies indicated they focused new product development efforts on substandard and standard risk segments, with only 20% pursuing the preferred market. Respondents indicated the Key Performance Indicators (KPIs) being used to measure successful product development are predominantly topline – premium, face amount and number of policies.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings, including implementation trends, analysis to date, model robustness and common simplifications.

Description: The SOA recently launched the Mortality and Longevity Strategic Research Program with the release of a new study on the economic impact of opioid abuse. In this session, results of this study will be presented along with insights and plans for the future of the Program.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation status and model simplifications.

Description: The need for the rapid evolution, or maybe a revolution, of the Insurance business platform is a necessity in the new economy. The key drivers are technology combined with rapid improvements in customer experience, or more accurately the expectations of the customer’s experience. For Insurers that have begun the transformation to a digital business they will recognize the opportunity to take advantage of their head-start with a platform business, while others will see the evolution as an opportunity to “leap frog” into the digital business leadership.