Description: The session from the 1995 SOA New Orleans Meeting focuses on advanced cash-flow techniques, different approaches to incorporate interest sensitivity into pricing and product pricing including option-pricing approaches to asset/liability risk pricing. From the Record of the Society of Actuaries, Vol. 21, No. 1.

Description: 2004 SOA Annual Meeting and Exhibit, New York. This session is about pricing life and VA products with untested new features in an uncertain environment.

Description: The objective of this presentation was to evaluate the different pricing techniques as to their effectiveness in capturing and quantifying the varied risks associated with the sale and administration of life insurance and annuity products. The results of a 2002 company survey about pricing were presented in support of this objective.

Description: This session at the SOA 1990 Hartford Spring Meeting is about the various factors to be considered in determining the interest margins for interest-sensitive life insurance, annuities and GICs, i.e. the difference in earned and credited rates including practical considerations. Valuing embedded options in assets and liabilities is also discussed.

Description: The aim of this paper is to examine relationships, analogous to that of premiums and reserves, for the case of a general insurance with benefits payable in respect to several forms of decrement. Specifically, this paper presents a system of splitting the total premiums and reserves into components related to the different benefits, with formulas distinguished between dependent and independent relationships between premium and reserve components. Discussions of this paper are included.

Description: 1993 SOA Annual Meeting, New York. This session is about the use of cash-flow testing in product development. Topics addressed: 1. The problem of interest rate risk and its driving forces. 2. The assumptions needed for cash-flow testing. 3. The pros and cons of deterministic versus stochastic testing. 4. The economic quantities measured in cash-flow testing. 5. The the technique of market-value analysis. 6. Research done to apply modem finance theory to determine the net worth of the enterprise in a way that directly demonstrates the financial impact of embedded options in assets and liabilities. 7. The technique of market-value analysis which adopts the innovations of duration/convexity analysis and option-pricing theory and applies these concepts to insurance liabilities. 8. The application of modern finance theory to determine the net worth of the enterprise. 9. A description of different uses of the OAVDE tool.

Description: This session 68 TS of the New Orleans Annual Meeting discusses profit measures such as profit margin, statutory return on investment ROI, and return on equity ROE have been used to make decisions concerning new products. From the Record of the Society of Actuaries, Volume 27, No. 3, Session 68TS.