Description: This session at the SOA 1990 San Francisco 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: This paper presents a new approach for pricing insurance contracts. The approach is based both on economic and probabilistic arguments. The novel property of this paper is that the pricing argument is based on two factors determining the insurer's expected profit: the first one is the net revenue from selling insurance contracts and the second is the possible loss due to insolvency. From the Actuarial Research Clearing House ARCH 1997 Vol. 1.

Description: 1992 SOA Annual Meeting, Washington, D.C. This session on repricing the in-force book of business addressed ASB requirements, data gathering, assumption setting, modeling considerations, coordination with financial areas, par versus interest-sensitive products, and communicating results to management.

Description: This session at the SOA 1990 San Francisco Spring Meeting focuses on the connection between the pricing function and financial reporting, communicating financial information to senior management and asset/liability management.

Description: This session at the SOA 1990 Hartford Spring Meeting is about the role of the investment operation in the product development process, the process of managing an in-force block of business, and how the differences in Statutory and GAAP accounting affect the pricing process.

Description: This session at the SOA 1990 Annual Meeting discusses the evolution of techniques in product development for life insurance with a focus on macropricing. From Record of Society of Actuaries Vol. 16, No. 4B.

Description: The Actuary Vol. 22 , No. 7. This articles explores the dangers posed by many guaranteed-return life insurance and annuity products.

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: 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: Sam Gutterman presents his paper, 'Expenses and Pricing', at this session at the SOA 1998 Maui I Spring Meeting. He discusses the need to control expenses and reflect them appropriately in pricing as vital to an insurance company' s short-term and long-term success.