Description: The Emerging Issues in Underwriting Survey was intended for direct life writing insurance companies in the US and Canada. The Survey looked at various trends that could have a significant impact on the process and practices of life insurance underwriting in the future.

Description: Overview of call center and digital sales platforms for the development of distribution strategy in the individual insurance market.

Description: Life insurance and annuity illustrations are an important part of the sales and ongoing policy maintenance process educating consumers on how the products could perform in a given set of circumstances. While candidates for Fellowship in the Society of Actuaries and even practicing actuaries may have a general knowledge of what they are and awareness of the regulations and applicable standards of actuarial practice, they may not know much about the intricacies of illustrations and illustration testing. The purpose of this project is to create a resource to improve actuarial practitioners’ understanding of illustrations. Additionally, this topic is not currently addressed in the exam curriculum. It is intended that selected sections of the report on this research would be suitable for inclusion in the Fellowship syllabus.

Description: Businesses across the board have been drastically impacted by the effects of COVID-19 over the course of 2020, and insurance was not immune. Perhaps most relevant to this industry’s current capital and liquidity concern is the prevailing low interest rate environment. This has been a global trend in the last decade, and treasury rates in much of the developed world are at or near zero. Reduced investment returns limit an insurer’s ability to achieve their desired return on equity, eliminating previously profitable strategies that depended on the leverage of life and annuity balance sheets. Focus and activity have instead shifted to other methods to counteract the low interest rate markets and accompanying capital strain. Examples include increased mergers and acquisitions (M&A) activity within the insurance industry and an increasing focus by private equity firms in the insurance market for asset-intensive products, both of which reflect the goal of increasing yield rates on capital.