Description: After years of discussion and debate, PrinciplesBased Reserving (PBR) is finally a reality. Small insurance companies have a unique opportunity to decide between electing for the company-wide exemption or adopting the PBR methods. This article discusses the benefits and challenges of the options available to small insurers under VM-20 as well as best practices that have been found along the way.

Description: Future mortality improvement has been a common assumption in life insurance and annuity pricing and forecasting for many years. However, experience over the last decade suggests this might be an assumption that merits reconsideration in the United States. This article will take a closer look at factors that impact mortality improvement trends and discuss why insurers may want to reevaluate product designs to better manage the associated mortality risk. We then introduce a product idea with this in mind, where premiums are based on a life expectancy index and insurers share the risk (and opportunity) or mortality improvement with policyholders.

Description: This article details different methods for calculating mortality impact associated with new underwriting programs. A common simplified calculation is compared and contrasted with two first principles approaches. The strengths and weaknesses of both approaches are discussed.

Description: Table of Contents to the 1951 Reports of Mortality and Morbidity.

Description: The presenters will highlight differences in mortality that result from socioeconomic issues. Topics will include the differences in cause-specific mortality among different socioeconomic classes, trends in these gaps over time, and recommendations for reducing inequalities in life expectancy in the future.

Description: The presenters will explore the current state of the North American mortality baseline and long-term improvement assumptions and determine what we can learn from the UK's approach. They will share research done by the Society of Actuaries and other organizations to describe how to build a better model, plus show the impact socio-economics and other factors have on longevity expectations. The presenters will offer suggestions for how U.S. and Canadian pension plan and insurance actuaries--and the industry itself--can best use this research to develop a better model for the risk management of pension plans and group annuities

Description: The session offers high-level initial steps to get started using R, as well as a list of helpful resources for both general data science and actuarial science with R. Attendees will learn about popular R packages to perform practical tasks such as importing, transforming and visualizing data, as well as packages commonly used by actuaries. You will also be introduced to the markdown package for creating reproducible and reusable analyses and workflows. By the end of the session, you will be familiar enough with using R and RStudio to begin incorporating these tools in your day-to-day work as an actuary

Description: A data format for mortality tables along with applications.

Description: The presenters will cover the latest research undertaken by the Individual Life Experience Committee (ILEC). With several years of very robust individual life insurance experience data accumulated through the mandatory Statistical Agent data calls, this vast amount of data allows for various deeper dives into specific segments of business, such as large face amount, older age or juvenile. Speakers will cover studies the committee is currently involved in, future planned efforts, and results from a variety of sub-segments of business. Attendees will learn about emerging statistical techniques in scrubbing data, more refined quintile-grouped data segments, and interesting ways of conceptualizing how A/E results have changed from year to year. There will be something for everyone!

Description: The 2009 Estonia experience study includes both mortality and persistency studies of policies in force any time during the 2006-2008 study period. The study applies to the entire portfolios of the contributing companies and these companies represent the vast majority of the Estonia individual life insurance market. Separate studies were performed based upon policy counts and insurance in force. Actual mortality was compared to expected mortality based upon the SOA 1975-80 select and ultimate mortality table.