Description: A comment letter to policymakers produced jointly by the SOA and AAA presents findings from their actuarial analysis of the proposed CLASS Act. The analysis indicates that the proposed structure and funding approaches will be unsustainable, and will cover only a very small proportion of the intended population. The opt-out and guaranteed issue provisions of the plan pose a risk that soon the program will either need increased premiums and/or significant reductions.

Description: Retirement income security under defined contribution plans depends upon sufficient savings and decumulating that savings so it provides an adequate income throughout retirement. Investment risk and longevity risk inherently complicate the latter task. The economic rationale for annuitization is clear in this context. However, annuitization rates have historically been very low, a phenomenon that is still not well understood. If retirees are making “rational” decisions based on full information, if their choices are consistent with the pursuit of their financial priorities, then low annuitization rates are not an issue for concern. In this case, retirees who annuitize and retirees who do not must have different financial priorities. However, research by the TIAA Institute shows that the decision to not annuitize is inconsistent with the stated financial priorities of most non-annuitants. It appears that non-annuitants do not und erstand that annuitization would address their financial priorities for retirement.

Description: To persuade successfully and non-manipulatively, it's important to understand five key principles of influence. Principle #5: A person will more likely be influenced if you help them get to the heart of the matter.

Description: Update on the IFRS for Insurance Contracts

Description: Oliver Wyman surveyed the life insurance industry in 2Q 2018 on emerging life PBR practices. Key takeaways and a deeper dive on select practices are provided.

Description: Based on interviews with C-level executives, this report offers insights on the role and actions of the global insurance industry in addressing climate change

Description: Response to David Kausch’s comments on the paper.

Description: The authors explain big data and the potential uses of this information, especially as it is beginning to be adopted by the life insurance industry.

Description: Understanding the true drivers of human behavior is essential if we are to capitalize on opportunities offered in a new era of personalized persuasion.

Description: It is a summary of the articles in the March issue of Health Watch.