Description: Defines Accelerated Underwriting programs as a transformational trend, and outlines a process for evaluating mortality implications of such programs.

Description: As we further explore how life insurance customers think and behave, we can address their needs more effectively. Using data and predictive analytics we can better identify groups to target. By embracing technology and approaching customers with the right distribution channels based on preference, we can make life insurance more accessible. We can speak the customers' language. We can understand that they are not all created equal, and tailor products to meet individual needs. In short, we can leverage data, research and technology to become very consumer centric. Getting closer to the customer, can we lower the perceived cost, and raise the perceived benefit of life insurance to a point where customers get excited? Will this not then be a product to buy, not sell?

Description: This article summarizes key findings from an SOA research report conducted by Milliman on a wide range of living benefit riders with medically related triggers on life and annuity products. The SOA report includes a survey of direct writers, and interviews with many reinsurers. The article focuses on chronic illness accelerated benefit riders, long term care accelerated benefit riders, and the more comprehensive long term care linked benefit products that can pay out benefits that may be much higher than the underlying base plan values. Information on regulations governing these plans, mechanics of the products, sales, and pricing structures is included The intent is to enable the reader to appreciate the issues and opportunities related to these new, innovative designs that help address a range of consumer needs..

Description: Constant Proportion Portfolio Insurance (CPPI) performance is assessed on realistic assumptions and dynamic strategies to mitigate the so-called ”gap risk”.

Description: The world around us keeps changing F.A.S.T. propelling life insurance companies to respond with F.R.E.S.H. product solutions.

Description: Letter from the Chair of the Product Development Council. Challenging times bring opportunities. Today's low interest environment is a rallying cry for our industry to transform our products and the way we do business

Description: This article discusses reaction to the requirement by the European Union for gender neutral pricing. One UK insuring is providing rates that are lower if you "Drive Like a Girl". The benefit to the consumer is lower rates as females tend to have better auto insurance experience as compared to males. Nothing is preventing males from applying for the coverage. However, it is clearly marketed to females as one can see from their branding materials. A black box attached behind the dashboard of the car monitors the driving (speed, acceleration, etc.) to confirm that they are indeed "Driving Like a Girl" as their insurance assumes.

Description: In this article, the author discusses discuss the use of the Cox Proportional Hazards Model in developing a predictive underwriting model that produces a mortality multiplier for each individual.

Description: Continuation of article from previous issue. This article illustrates the practical and financial implications of applying nested stochastic techniques to a sample product.

Description: It is worth the effort to obtain a pricing surface. It helps make an informed decision and facilitate the pricing conversation within and outside a company.