Description: This research report is the result of a second phase examination of the impact of VM-20 on life insurance product development.

Description: Companies can implement VM-20 as early as 2017. While there have been research and educational materials produced to help actuaries and others better understand the implications and implementation of the new requirements from a financial reporting perspective, little has been developed emphasizing the product development actuary perspective. This SOA research project examines the impact of VM-20 from a product development actuarial perspective. The research will help actuaries and others enhance current practices to optimize pricing and product development activities within a VM-20 framework as well as enhance intracompany communication and efficiencies related to VM-20. This session is a follow-up to the session at last year’s symposium and will focus on Phase 2 of the research project.

Description: A paper outlining key considerations & issues that may be met when implementing VM-20, like product development resources, pricing models or product features.

Description: Key excerpts from research recently performed by Milliman consultants for the SOA on the impact of VM-20 on life insurance product development.