Description: Help to generate ideas for formulating a pricing strategy of 2015 individual health insurance products despite having very limited claims and premium experience in early 2014.

Description: Panelists discuss customer life-cycle needs for life and annuity products and what can be done when a customer's needs change. They also discuss the opportunities and risks associated with the migration of customers through products and wealth-transfer needs. From the 2002 Record of Society of Actuaries, Volume 28, No. 3. Session 32PD of the Boston Annual Meeting.

Description: The insurance industry has a lot to learn from academia's missteps. With predictive analytics assuming an ever-expanding role in risk modeling, carriers would be well-served to establish practices that mitigate the creation of faulty models. Hear practical advice on how to mitigate the risks of overfitting, with a focus on how to translate complex policyholder behavior experience data for long-term products into behavioral models using company- and industry-level data.

Description: Retirement income security under defined contribution plans depends upon sufficient savings and decumulating that savings so it provides an adequate income throughout retirement. Investment risk and longevity risk inherently complicate the latter task. The economic rationale for annuitization is clear in this context. However, annuitization rates have historically been very low, a phenomenon that is still not well understood. If retirees are making “rational” decisions based on full information, if their choices are consistent with the pursuit of their financial priorities, then low annuitization rates are not an issue for concern. In this case, retirees who annuitize and retirees who do not must have different financial priorities. However, research by the TIAA Institute shows that the decision to not annuitize is inconsistent with the stated financial priorities of most non-annuitants. It appears that non-annuitants do not und erstand that annuitization would address their financial priorities for retirement.

Description: In session 81PD of the Montreal Spring Meeting panelists discuss the results of the Life Insurance Marketing and Research Association LIMRA/SOA 1992-94 Annuity Persistency study. From the Record of the Society of Actuaries, Vol. 23, No. 2.

Description: Examination of full surrender and benefit utilization industry experience for Variable Annuities with and without Guaranteed Lifetime Withdrawal Benefits. Part 1 of 3 articles focuses on full surrenders and building a dynamic surrender function using predictive modeling tools.

Description: Results of the PBITT Working Group annual Variable Annuity Survey.

Description: The article summarizes several recent private letter rulings from the IRS addressing the "investor control" doctrine in the context of funds of funds.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: This is a report on the PBITT Working Group's fourth survey to gather the assumptions actuaries use in pricing, reserving, and risk management of minimum guarantees on Variable Annuity products, such as death benefits, income benefits, withdrawal benefits and maturity benefits.