Description: In today’s business world, many financial decisions undergo considerable analysis before the decision is made and the decision-maker is often held accountable for the outcomes. The purpose of this research is to introduce the concept of total risk analysis (TRA), which is designed to help the decision-maker answer key questions at the time the decision is made. This paper will focus on a specific example of a typical healthcare decision: setting a budget for claims in the upcoming year. In addition to explaining TRA and providing a case study, this paper presents quantitative research regarding cost distributions for health care costs.

Description: The Mortality Improvement subgroup of the American Academy of Actuaries’ Work Group and the Society of Actuaries’ Mortality and Longevity Oversight Advisory Council released a recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes. This recommendation has been adopted by the NAIC’s Life Actuarial Task Force.

Description: This article provides an overview of critical illness insurance: history, product description, and the three primary ways to offer critical illness coverage in the United States. This article also contains an illustration of an issue age premium rate calculation, as well as product features and rating applications specific to the various types of critical illness coverage.

Description: With the growing threat of cyber incidents, organizations and governments are rightfully concerned. In recent years, cyber incidents have caused significant losses to entities and insurers across the world. Therefore, there is a need to understand and provide greater context around the topic of catastrophic cyber risk, which has implications for insurance companies, reinsurers, regulators, consumers, and society. Taking a multi-disciplinary, holistic approach, an expert panel study was conducted on catastrophic cyber risk in this four-part series of discussions and subsequent reports.

Description: A comprehensive primer on long-term care wellness programs, their design, implementation, challenges, metrics for success, and emerging industry practices.

Description: The Society of Actuaries (SOA) is pleased to present historical U.S. population mortality rates by sex and single year of age for calendar years 2000-2021.

Description: This report covers the latest emerging trends in U.S. population mortality. The SOA relied upon data furnished by the Centers for Disease Control and Prevention (CDC). Observations are based on the CDC’s recent release of 2021 mortality experience, along with prior mortality experience data from 1999 through 2020.

Description: LIMRA, Reinsurance Group of America (RGA), the Society of Actuaries (SOA) Research Institute, and TAI have collaborated on an ongoing effort to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience and share the emerging results with the insurance industry and the public. This report documents a high-level analysis of the claims that have been reported.

Description: SOA and LIMRA request mortality data for deferred annuities issued 2015–2024 to support an updated industry experience study.

Description: How do Professionalism and the Actuarial Standards of Practice apply as the way we work and tools we use continue to change? Business is conducted via social media and messaging and Generative AI allows for additional scenarios, analysis and oversight. Join us for an interactive session to go deeper into these topics including case studies, polls and a panel discussion.