Description: Discussion of accident and sickness policies, including issues with underwriting and points for improvement. Transactions of SOA Vol. 6 No. 16

Description: The purpose of this paper is to explore the rationale underlying the development of the family of linear compound graduation formulas. As the title suggests, this paper also attempts to defend the Min-Ro member of that family against the unqualified charge that it is a 'poor' graduation method. It concludes with a description of a simple modification of the Min-Ro, and an analysis of the improvement obtained by that modification.

Description: Presentation of some of the factors to be considered, and approaches which might be employed, in valuing a life insurance company.

Description: This SOA research report produced by Kamakura Corporation helps illuminate credit risk modeling techniques within the life insurance industry. It includes a review of available research on the subject from academic and industry sources, the development and distribution of a survey on actual techniques used within the industry, and all associated analysis. The finance and economics literature review provides a historical review of academic research on credit modeling with Altman Z-scores, Merton’s structural model and more recent “reduced form models” The industry literature includes discussions of the various credit modeling techniques, factor-based approaches, credit migration models, structural models, reduced form models, hybrid models, actuarial models and credit scoring models. As credit risk modeling is an extremely broad topic, the scope of the survey is narrowed to particular asset classes and functions. There were 22 responses in total to the survey from locations in Canada, Europe and the United states.

Description: This paper explores the principles upon which experience-rated group insurance currently is based and discusses the question of whether or not these principles are sound. Followed by discussion papers submitted by several authors

Description: This section presents book reviews and summaries of recent publications. Reviews: '1975 Annual Reports of the Board of Trustees of the Federal OASDI Trust Funds...' by the US Congress, 'Providing Adequate Retirement Income' by Schulz, Carrin, Krupp, Peschke, Sclar and Steenberge, 'Ernst & Ernst GAAP - Stock Life Companies' by Posnak, 'Reports of the Quadrennial Advisory Council on Social Security' by US Government, 'Fundamentals of Private Pensions' by McGill. Digests also included.

Description: Several of the insurance problems discussed are far short of a final definitive solution - the objective is rather to suggest some coherent patterns for developing effective practical methods of cost analysis. Problems are considered in the areas of company policy and practices, operational cost control, and premium and dividend calculations.

Description: Discusses services provided by reinsurers in addition to risk-sharing, cost of conventional life reinsurance, pools, non-proportional techniques and comparison with practices in non-life lines, and international aspects.

Description: Discussion of the sensitivity of GAAP reserves to certain assumptions made and methodologies used. Followed by a discussion paper

Description: This paper deals with credibility as applied to group insurance, where the problem is to estimate the future claim rate of a group as a function of both its own past claim rate and the average claim rate observed for similar groups.