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: This article discusses the characteristics of companies dedicated to being leaders in the Term market and the role that reinsurers play.

Description: Since the last installment of the biennial WTW North America Life Insurance Pricing Methodology Survey in 2018, the market has been coming to terms with the prospect of “lower for even longer” interest rates and been confronted with the economic and social impacts of the COVID-19 pandemic. This article examines what effects these and market-specific factors have had on profit targets and pricing and reserving strategy. The survey looked at the profit objectives and assumptions used in pricing 2020 new issues of individual life and annuity products, with a focus on past practices, not future plans.

Description: This article gives an overview of the first Applied Actuarial Research Conference AARC.

Description: The article summarizes some of the key changes in modeling, assumptions, underwriting, and design for long term care combo products over the past 30+ years. The objective is to inspire an innovative spirit that adapts to changing market needs, for example, dealing with long COVID

Description: Read the April 2019 issue of Product Matters! published by the Product Development Section.

Description: Insurers are struggling to keep pace with rapidly changing economic conditions, customer needs and regulation. We at Oliver Wyman believe there is an opportunity for many insurers to generate more customer value and fuel their growth by rethinking their approach to Product Development.

Description: Recently the interest rates have been slowly trending up from the lowest point in August 2020. The focus of this article is on current market trends for long-duration products —including life insurance, annuities, and long-term care insurance —following an extended period of low interest rates, and lessons carriers can learn from similar historical periods of rising interest rates. Innovative and flexible product features will continue to be essential, as the current interest trend may not substantially increase insurers’ portfolio rates. When designing or modifying product features, insurers should consider profitability in a wide breadth of interest rate scenarios and be particularly mindful of the impact that crediting rates and asset durations will have on earnings.

Description: A summary of the recent UL/IUL survey conducted by Milliman.

Description: Chairperson’s views on the changing life insurance industry.