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: After a sustained period of mortality improvement, U.S. population mortality improvement has stagnated in recent years. The presenters will discuss mortality improvement trends in the U.S. population and the causes of death contributing to these trends. U.S. population cause of death trends will be analyzed and compared to trends in the insured population. Mortality rates for major causes of death will be compared between the U.S. population and the insured population. In addition, assumption setting for both older age and later duration mortality as well as mortality improvement will be covered.

Description: The COVID-19 pandemic has had an impact on all aspects of daily life and its impact extends to how disability incidence may play out in the future. Product profitability will be shaped by how morbidity patterns, interest rate levels and other key drivers will play out into the future. In this session, our panel will discuss COVID’s impact on IDI morbidity experience as observed over the past 18 months, offer comparisons and insights in light of other insurance lines of business, and share emerging information on the on-going effects of Long COVID. Highlights will also include how regional differences and implications for insurers as the industry moves further into the COVID vaccine era.

Description: This is a brief description of the formation of the Committee.

Description: 2021 Life Meeting - Session 5C: Assumption Setting in an Uncertain World 8.31.21 Recording

Description: The famous 80/20 rule in data science states that only 20% of your time working with data is spent driving insightful business analytics. The rest of your time is spent trying to query, clean and organize your data. Even with this knowledge, the majority of actuarial training/focus is on the 20 percent. This session takes a different approach, focusing solely on speeding up your work on the other 80 percent. Practical examples will be part of a code walkthrough in R.

Description: In 2020 the Actuarial Innovation and Technology Steering Committee held a data visualization contest. Entries showed a variety of strengths including smart use of tools, user-friendly dashboards, and displays paired with actuarial analysis that can lead an end-user through a process of discovery. In this webcast a data visualization expert will review the winning entries with the contestants. We'll discuss how the different strengths of these entries can be combined to create a powerful tool for communication and understanding.

Description: The South African life insurance industry contains the largest life insurance market in Africa, it is highly sophisticated and highly regulated. In the years 2020 and2021, the industry suffered significant mortality losses due toCovid-19. What can we learn from this experience in South Africa?

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: sources of Health Care data Issue No. 37.