Description: This article details different methods for calculating mortality impact associated with new underwriting programs. A common simplified calculation is compared and contrasted with two first principles approaches. The strengths and weaknesses of both approaches are discussed.

Description: This article covers the results of the elections for the 2013 product development section council. In particular, it gives the background on the following individuals who were newly elected to a 3-year term on the council: Vera Ljucovic, Jim Filmore, and Joe Kordovi. It also gives the background on Dave Moran who was chosen by the council for a 1-year term to replace a council member that had to step down prior to completing their 3-year term.

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: This article discusses the survey of published embeddd value EV financial assumptions through 2010 sponsored by the Society of Actuaries International Experience Study Working Group. The purpose of this survey is to provide international actuaries with benchmark assumption data.

Description: Product Development Section Chairperson’s commentary regarding the June 2012 issue of Product Matters! In this article, Donna discusses items such as upcoming section elections, proposed research projects, and the product development LinkedIn group.

Description: October 2012 issue of the Product Development Section newsletter, Product Matters!

Description: This article gives the highlights of the 88-page report including detailed assumptions for products including universal life with secondary guarantees (ULSG), cash accumulation universal life (CashAccum), current assumption universal life (CAUL), indexed universal life (IUL) and variable universal life (VUL). The 29 companies and 83 products represented in the report allow for an interesting perspective on premium persistency assumptions used in pricing, cash flow testing (CFT) and generally accepted accounting principles (GAAP)/international financial reporting standard (IFRS) functions. This article covers some general results and ULSG-specific results.

Description: Read the November 2016 issue of Product Matters! published by the Product Development Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Hot topics and emerging trends in assumption development in US life insurance companies