Description: The purpose of this paper is to examine the various profit objectives used in the development of a new product for a stock life insurance company. From Product Development Section Monograph, M-AS99-3.

Description: Discussion of the value of section membership, what the MPD section accomplished in 2012, and activities the section has planned for 2013.

Description: We propose an age-shift model to modify the LC model and deal with the problem of parameters. The proposed method attains smaller estimation errors with respect to mean absolute percentage error or mean square error. We also apply the proposed age-shift model to the mortality rates of these four countries to evaluate the longevity risk in annuity products by measuring life expectancy.

Description: An excerpt from the 2002 Annual Report of the Board of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds which describes the basic methodology and assumptions used in the estimates for the intermediate assumptions. Also, projections of program costs are presented under two alternate sets of assumptions.

Description: This paper develops the binomial version of the Lee-Carter model and provides a comparative study of simulation strategies for assessing risk in mortality rate predictions and associated estimates of life expectancy and annuity values in both period and cohort frameworks.

Description: From the 1985 Valuation Actuary Symposium Discussion of the process for evaluating the financial soundness of an insurance organization from organizations outside of the Company

Description: This paper demonstrates an approach of modeling experience, and then interpreting the model and residual errors.

Description: Looking at some specific data visualization types that may be less familiar to actuaries, with examples. All are implementable in Excel.

Description: From a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 This discussion reviews the need for and a process for remediation of errors made with respect to an inadvertent non-egregious failure to comply with the modified endowment contract rules under Internal Revenue Code Section 7702A.

Description: A presentation at the Actuarial Research Conference in August 2006 in Montreal. This paper discusses the Basel VaR Value at Risk test of a bank's VaR model. It proposes an alternative, Quality Control of Risk Measures QCRM Hypothesis test. The alternative is more likely to reject an incorrect VaR model.