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.

Description: Analysis of Alzheimer’s Disease as a potential Critical Illness insurance benefit trigger.

Description: Voluntary health insurance coverage options are described including hospital indemnity, accident plans, disability insurance, and critical illness policies.

Description: This session provides an overview of industry approaches to valuing the liabilities of nontraditional health products such as specific and employer stop loss, provider excess and critical illness. From the Record of the Society of Actuaries, Volume 29, No. 2, Session 117

Description: Critical illness CI products are gaining in popularity in North America. These products have been available for close to 20 years in many countries around the world, including South Africa, Australia, the United Kingdom and most of Asia. Many of the lessons learned in these countries concerning product design, pricing, underwriting and claims adjudication are relevant to the U.S. market. This session reviews the latest trends around the world. Attendees gain insight into the key issues driving the profitability of the product and are better positioned to determine the main considerations in deciding whether or not to introduce such a product in their market. From the Record of the Society of Actuaries, Volume 29, No. 1, Washington, D.C., Spring Meeting, May 29–30, 2003, Session 60PD.

Description: The last three decades have witnessed an important rise in number of people with diabetes in Asia, especially Type 2 Diabetes. Like no other common condition, numerous innovations are currently entering the healthcare system that will soon have a significant impact on management of the condition. This presentation explores the role played by sensors/wearables, artificial intelligence, new drugs and diabetes apps. We assess the realistic potential of such advancements and give an outlook on medium-term pricing and product development.

Description: Critical illness insurance is a popular supplemental health insurance product in the U.S. market. This article discusses how carriers have recently sought to add value by expanded the benefits offered in their critical illness products. Specifically, the article discusses the consumer need and development considerations of adding benefits for autism Spectrum Disorder, Mental health disorders, Specified Disease Coverage, and enhance Cancer Coverage to a critical illness contract.

Description: This panel discussion addresses Critical Illness product design, marketing, trends and lessons learned from other countries. From the Record of the Society of Actuaries, Volume 27, No. 2, Session 20

Description: Stale portfolio got your sales down? In this session, you'll learn about the latest and greatest in product development trends and innovations which you can use to refresh and revitalize your products. At the conclusion of this session, attendees will have a better understanding on market trends in product development as well as leading innovations.

Description: After witnessing strong sales of similar products in Japan and the United Kingdom, a number of U.S. insurers have recently jumped aboard the critical illness insurance express and are developing this product for sale in the United States.