Description: Certain valuation assumptions are difficult to set with a high degree of accuracy, whether because the underlying experience is in different economic or interest rate environments, in addition to other reasons. Examples include assumptions for long-term care insurance, annuity options, lapsation and premium persistency on ULSG. This session will share how the actuary can use predictive analytics to augment the assumption-setting process. Some of the benefits to the actuary (along with the company and the regulator) include more accurate assumptions with lower margins for adverse deviations. Of possible interest as well is that applications go beyond valuation and include acquisitions, reinsurance and pricing.

Description: Baseline and what-if/stressed projections of cash flows, financial statements and capital requirements are critical inputs to a range of business purposes, including forecasts, risk management, liquidity management, strategic decision making, etc. Forward looking projections have historically been inefficient and performed in silos making it difficult to scale the process as CFOs and CROs ask for more. In this session we discuss challenges of the forecast process and opportunities to meet desired future capabilities. We will also discuss “what-if” analysis and ways to support production of forward looking projections for “what-if” analysis in an efficient way.

Description: This session will cover lessons learned during the course of implementing PBR by the panelists. It will focus on areas that were difficult to interpret, unexpected issues and managing the process. It will focus on potential stumbling blocks from an implementation, pricing and product development standpoint. There will also be an overview of YRT treatment to date and an update on any emerging best practices.

Description: The Internal Revenue Code (IRC) sets forth a set of complex rules affecting life insurance companies and the products they sell. This session will explore the company and product tax related requirements imposed by the IRC that are of interest to actuaries, with the session in two parts:Part 1 - Company Tax Overview Federal income taxes are often one of the largest expense paid by a U.S. life insurers, but they tend to be overlooked or simplified in actuarial work. The presenters will provide an overview of key actuarial items impacting the determination of taxable income for life insurers, including the requirement for calculating tax reserves, the impact of changes in reserve basis, and the basics of capitalization of policyholder acquisition expenses (aka "Tax DAC").Part 2 - Product Tax Overview Life insurance and annuity contracts provide for favorable tax benefits. However, in order for policyholders to receive tax benefits, life products need to satisfy certain qualification requirements imposed by the Internal Revenue Code. The presenters will provide an overview of (1) the policyholder tax treatment of life insurance and annuity contracts and (2) the qualification requirements imposed by the IRC in order for policyholders to receive these benefits.This session is intended for actuaries with low to moderate knowledge of company and product tax related requirements and will help you learn key aspects of life insurance company and product taxation that can affect product design, pricing, valuation and modeling.

Description: Presented at April 1985 Spring Meeting. This session discussed: Structured claim settlement process, Recent developments in taxation, Substandard underwriting, Sources of mortality information, Administration and investments, Valuation, Risks and profit margin.

Description: This discussion from the 1983 SOA Hollywood, Florida Meeting presents an update for actuaries on U.S. Federal Statistics including GNP, economic accounts, measures of price change, the Federal Reserve, and the money supply. From Record of Society of Actuaries, Vol. 9, No. 4.

Description: Panel discussion session on universal life examining marketing strategy, product line management, replacement programs, federal income taxes from three different viewpoints, mutual company, stock company, and Canadian company

Description: This 1981 session on Fiscal and Monetary Policy dealt with questions of i. What are current U.S. and Canadian policies? 2. What is the outlook for fiscal policy in the U.S. and Canada? 3. What does current monetary policy imply for financial and credit markets and interest rates? 4. What political, social and economic changes must occur for nominal interest rates to begin steadily declining toward parity with real interest rates? From Record of Society of Actuaries, Vol. 7, No. 2.

Description: This panel discussion, which occurred at the May 1982 SOA meeting in Colorado Springs, presented a discussion on the effect of new federal policies on medical insurance. The discussion included federal cost shifting and pro-competition consumer choice bills. From Record of Society of Actuaries Vol. 8, No. 3.

Description: This panel discussion session focused on the practical applications of risk theory.