Description: In our rapidly changing world, it is becoming hopeless to try to arrive at a satisfying description of future conditions, even in the short run. Yet prices for new life insurance must somehow reflect one’s view of events even in the far distant future. futurism

Description: Accelerated underwriting programs continue to evolve at a rapid pace. Triage systems have become a key element in many of the newer accelerated underwriting programs in the market. Depending on the criteria used at the triage point, these programs can have residual effects on class prevalence and mortality which in turn affect the profitability of these programs. In this article we will explore some potential impacts on mortality and prevalence within these programs.

Description: The article discusses the continued popularity of indexed UL insurance and possible reasons why a company's actual indexed UL earnings may be below their original pricing expectations for the product. The article discusses several key items that may be the source of that underperformance (e.g., hedge ineffectiveness, policyholder behavior) and the need to monitor earnings and perform analyses to better understand those potential sources.

Description: This article describes how option pricing theory can be used in everyday financial decision making, and provides examples applicable to the insurance industry.

Description: This discussion examines the effect continued inflation has on the pricing process. Additionally, if the current dividend scales should be hedged for future inflationary impacts and if there is a change in product demand or sales as a result of inflation. From Record of Society of Actuaries, Vol. 1, No. 2.

Description: Reviews Dr. Belth's level price method for comparing the costs of two different cash value life policies.

Description: This article poses the question, why doesn't the teaching of life contingencies start with the premise that the rate of investment income is a random process in a similar manner to the random nature of the time until death? The article suggests some methods for doing so.

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: This article is based on a workshop discussion at the October meeting of the Actuaries Club of New York on yearly price of protection and level price of protection calculation methods advocated by Dr. J. M. Belth for the purpose of comparing 2 life insurance policies.

Description: In an effort to build a bridge between epidemiological and actuarial modeling, this paper analyzes possible financial arrangements made against expenses resulted from medical treatments given to insured patients. Based on classical compartment models, the first part of this paper designs insurance policies for susceptible participants facing the risk of infection and formulates the financial obligations of both parties using actuarial methodology. For practical purposes, the second part employs a variety of numerical methods for calculating premiums and reserves. The last part illustrates the methods by designing insurance products for the Great Plague in Eyam and the SARS Epidemic in Hong Kong.