Description: In this paper two theorems concerning the optimality of the perfect-fit and perfect-smoothness graduations are proved. Two examples are presented and some difficulties with regard to computational feasibility are reviewed. A discussion of the paper follows. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: This paper develops a formal framework to model the behavior of individual and small group health insurance policies in a competitive market. In this framework, anti-selective lapse is not assumed, but arises as a result of rational consumers seeking the best value in a competitive market where the premium rates are restricted by law. The authors obtain a model that addresses a number of fundamental questions which have not been fully answered previously, including the effect of price-induced anti-selective lapse on the mix of insureds in a block and the optimal renewal price to maximize the aggregate profit of a block.

Description: This paper traces the background of the surgeon general's 1979 report on smoking, highlights its principle conclusions with respect to mortality, and summarizes its findings regarding socioeconomic and demographic differences between smokers and nonsmokers. From Transactions of Society of Actuaries 1980, Vol. 32.

Description: 1984 Study covering experience of individual disability loss-of-time policies for 1982-1983. The study separates the first year of the benefit period, and combined second and third year experience of the benefit period. From Transactions of Society of Actuaries 1984 Reports

Description: Report on the Lapse and Mortality Experience of Post-Level Premium Period Term Plans

Description: The impetus for this paper is a concern that a unification of pricing, valuation, and management-basis financials may be essential to ensure the viability of life insurance companies in the variable economic environment of the foreseeable future, which will have serious effects on interest-sensitive products. The paper offers hypotheses on which any unification should be based. The proposed unification is structured on an equity capital management approach and on a variation of the level-return-on-equity accounting method. Discussions of this paper are included.

Description: This paper describes the application of source of earnings 'SOE' analysis methodology to the reported pre-tax GAAP income of universal life and other interest-sensitive life and annuity products.

Description: This paper discusses future projections of operations for both new and existing companies. The author proposes and discusses 3 basic methods - model office, analysis of operations and an 'overall method. The model office, being the most detailed, delves into how to approach each major item in the summary of operations.

Description: The theme of this paper relates to solving portfolio selection problems using linear programming. The authors extend the linear optimization framework for Conditional Value-at-Risk-based portfolio selection problems to optimization over a more general class of risk measure known as the class of Coherent Distortion Risk Measure. From Actuarial Research Clearing House, 2012 Vol. 1.

Description: This paper will use a sample example to examine the relationship between the pricing objective of ROI and the corporate profit measure of ROE. From Transactions of Society of Actuaries 1987, Vol. 39.