Description: As part of the SOA’s July 22, 2020, COVID-19 Virtual Symposium, Marketing and Distribution (MaD) Section Council members presented “Selling Insurance Six Feet Apart” with insight into emerging sales and marketing processes, challenges, and opportunities for the product spaces noted

Description: This article describes the availability of experience rating within COLI and BOLI programs and compares the effects of including or excluding this feature.

Description: As term carriers continue dealing with the implementation of PBR, the 2017 CSO mortality table, accelerated underwriting programs and predictive models, one wonders what the next significant challenge will be for the term market. The implications of these changes are yet to be seen fully, and monitoring of the results will be important in the years to come. ...

Description: In this article, we explore key insights from Oliver Wyman's 2020 Life PBR Emerging Practices Survey, which provides a broad industry perspective with more than 50 companies participating representing 95 percent of the individual life market (by written premium). Insights include the impact of PBR on reserves and profitability in addition to emerging practices related to product design, assumption development, and methodology decisions.

Description: The article discusses recently-issued regulations under section 807 of the Internal Revenue Code, concerning the computation and reporting of reserves. The provisions addressed generally relate to the Tax Cuts and Jobs Act of 2017.

Description: Feature article clarifying terms used in life insurance distribution

Description: Key findings from Milliman's 2019/2020 UL/IUL survey. Provides benchmarking for UL/IUL competitors relative to trends in the industry.

Description: This article summarizes the key changes to VM-31 requirements in the 2020 version of the Valuation Manual for both life and variable annuities, and compares and contrasts the requirements for each. In addition, the article offers insights into common issues and recommendations for VM-31 reports from the viewpoints of a regulator, consultant, and company actuary.

Description: The need for the rapid evolution, or maybe a revolution, of the Insurance business platform is a necessity in the new economy. The key drivers are technology combined with rapid improvements in customer experience, or more accurately the expectations of the customer’s experience. For Insurers that have begun the transformation to a digital business they will recognize the opportunity to take advantage of their head-start with a platform business, while others will see the evolution as an opportunity to “leap frog” into the digital business leadership.

Description: Read the February 2020 issue of Product Matters! published by the Product Development Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.