Description: This session will cover assumption determination for annuities under VM-21 with emphasis on contract holder behavior assumptions, prudent estimate mortality assumptions and measuring credibility.

Description: This article delves into a new line of statistical thinking of the author, that may be useful for product development actuaries. The key concept is how product design can produce products that diversify quickly, meaning that the company can be confident of a profitable product line, based on fewer sales than might be true for other designs.