Description: This article discusses facts and issues related to the selection of a stock’s price distribution.

Description: Life and annuity markets around the world have seen increasingly complex investment-combined products, including universal life, fixed indexed annuities, variable annuities with a wide variety of guaranteed benefits, indexed variable annuities, etc. Insurance companies are facing unprecedented exposure to financial risks in addition to traditional mortality and longevity risks. The risk assessment and modeling for such complex designs by conventional methods often focus heavily on their market competitiveness and profitability. However, there seems to be a lack of quantifiable and systematic approach to assess investment risks associated with investment combined products. The objective of the proposed work is to develop a framework for quantifying and analyzing various forms of contractual designs and showcase different techniques to assess the trade-off between competitive contractual designs and their practical implications with regard to the difficulty of risk management.

Description: 2021 ImpACT Conference -Insurance ALM Survey - Early Results and Best Practices Recording

Description: 2021 ImpACT Conference - Session 13B: Forecasting LDTI 10.29.21 Recording

Description: In a product warranty, the renewal function is the expected number of failures in a specific warranty duration. To estimate the renewal function, cross-sectional regression data is assumed to be available and the data is assumed to be semiparametric. In this article, the observations are a11owed to be residuals from a complex regression model. It is observed that estimation can be accomplished using reasonable models for the contracts and data collection. From Actuarial Research Clearing House 1992, VOL. 2.

Description: The session will feature case study discussion of how insurers can improve their model architecture and data visualization to prepare for the increasing demands of the future. Actuarial data and analysis has long been limited by the complexity and diversity of historical systems. External pressure on insurers is higher than ever before, as new requirements take effect under PBR, GAAP Targeted Improvements, and IFRS17.

Description: This paper is from the Transactions of Society of Actuaries 1956 Volume 8, Number 20. It was presented at the 1956 Spring Meetings of the Society of Actuaries for discussion. The author presents an outline of how difficulties in the determination of a frequency distribution of the expected costs may be overcome by, in part, applying the concept of using a series of random numbers with a view of making mortality studies for each life in a group of annuitants. The paper also presents the results of some experiments which were designed to discover whether or not the concept could be conducted on an IBM 650 electronic data processing machine.

Description: Actuarial models and modeling processes continue to grow in complexity, accelerated by the changes in U.S. Statutory, U.S. GAAP and IFRS reporting requirements in the past few years. Modeling and valuation teams are expanding their toolkits beyond the traditional vendor-maintained actuarial software and the MS Office suite of tools. Companies have started to use a variety of tools to improve model dev and valuation processes, including: - Data management - Automation and workflow - Reporting and analytics

Description: Employers, health plans, stop-loss insurers and reinsurers are all affected by the high cost of treating cancer. In recent years, cutting-edge pharmaceuticals, bone marrow transplants and CAR-T cell therapies have driven very high cost trends for cancer, with more emerging therapies on the horizon. In this session, we will review these new treatments, showcase models that aid in understanding the range of likely financial effects of the current, expanded, and likely-to-be approved indications for cell therapies that will treat certain patients affected by lymphoma, leukemia, and multiple myeloma. This session will explain important considerations for modeling Medicare, Medicaid versus commercial populations, key risk concerns caused by the size of enrollee pools, and important differences between the various therapies that affect modeling. We will also discuss averted cost, health outcomes, pricing levels, and risks caused by provider billing practices.