Description: Discover more about key Economic Scenario Generation (ESG) topics that are relevant for actuarial applications. Expect a focus on risk-neutral / market-consistent ESGs, like setting long term assumptions and scenario reduction. Long tern assumptions will focus on a basic introduction to challenges in deriving long term assumptions and key concepts to better understand how those are set. Come explore a basic overview of scenario reduction techniques and challenges as well as common sense criteria to address the reasonableness of the reduction.

Description: Discover the impact of COVID-19 on member costs post diagnosis and the future of mortality in this Emerging Long Term COVID-19 Trends webcast. This webcast will be split up into Health and Life portions. During the Health portion of this webcasts, you will learn more about the impact on risk scores due to recent findings. Enjoy this discussion and further dive into the emerging COVID-19 trends that may affect how you conduct business practices. At the Life portion, the SOA Research Institute assembled a panel of mortality experts who will express opinions on the effects of the U.S. mortality rate for general, insured and pension populations in the short-term.

Description: Edited Content: Discover more about key Economic Scenario Generation (ESG) topics that are relevant for actuarial applications. Expect a focus on risk-neutral / market-consistent ESGs, like setting long term assumptions and scenario reduction. Long tern assumptions will focus on a basic introduction to challenges in deriving long term assumptions and key concepts to better understand how those are set. Come explore a basic overview of scenario reduction techniques and challenges as well as common sense criteria to address the reasonableness of the reduction. Provided Content: The overall objective would be to introduce key ESG (Economic Scenario Generation) topics to actuaries, with two topics below that are relevant for actuarial applications. We intend to focus on risk-neutral / market-consistent ESGs. 1. Setting long term assumptions o A basic introduction to challenges in deriving long term assumptions and key concepts to better understand how those are set 2. Scenario reduction o A basic overview of scenario reduction techniques and challenges as well as common sense criteria to address the reasonableness of the reduction

Description: This article is the final installment of our three-part series on economic scenario generators (“ESGs”). Part I and II were published in the November 2019 and August 2020 issues of The Modeling Platform. Part III contextualizes the framework for selecting, building, and validating ESGs and focuses on the Academy Interest Rate Generator (“AIRG”), the most commonly used real-world ESG for US actuaries

Description: The Life Meeting, is the result of combining the Life & Annuity Symposium (LAS) and the Valuation Actuarial Symposium (ValAct). The Life Meeting will offer sessions specific to pricing and valuation as well as sessions on emerging issues relevant to both groups. These common themes include InsurTech, diversity, accounting change and the current economic environment.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: This year’s Life Meeting was unable to take place in person as planned in New York City. We are looking forward to the Life Meeting returning to New York City in 2024!

Description: An introduction to the methods and parameters for Bayesian Hyperparameter Optimization in a Life Insurance context.

Description: A look back over 20 years to see how product topics of the day have changed and remained the same.

Description: Learn more about the predictive modeling that was applied to industry data for the lapse and mortality experience in the post-level term period. Novel approaches were taken to model the shock lapse, subsequent lapse, and mortality experience. Observe a demonstration of the Tableau tool, which was built to allow users to analyze data on their own.