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

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: 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 status and model simplifications.

Description: The article highlights key considerations as companies begin to reserve for their IUL products under PBR.

Description: 1992 SOA Annual Meeting, Washington, D.C. This session on individual life product update addressed Whole Life, Variable Life, VUL, and Term Life. within these products the discussion covered trends in product design, lapsation, and market trends.

Description: The last few years have seen a dramatic change in the way that insurance products are priced. If we traveled back in time 15 to 20 years, we would see a world where most insurance products were priced on the basis of a few static scenarios. In the last several years, pricing on a stochastic basis has become more mainstream—at least for contracts with embedded guarantees.

Description: This informal general discussion session was centered around ordinary insurance, the size of ordinary policies, mode of premium payment, and juvenile policies.

Description: This panel discussion focuses on expense analysis and allocation. Areas addressed include standard of measure used, inconsistencies in expense allocations, and alternate methods of allocation of marketing expenses.

Description: This article discusses an update to a survey that focuses on how companies are trying to price for and understand the risks inherent in the products they sell.