Description: As more term insurance policies move to the post-level period, actuaries are evaluating policyholder behavior and expected mortality. Enough experience has now emerged to provide a spectrum of outcomes that can model the relationship between premium increases, persistency and mortality. The presenters will share findings and consider how different post-level premium structures produce different results.

Description: The SOA recently launched the Mortality and Longevity Strategic Research Program with the release of a new study on the economic impact of opioid abuse. In this session, results of this study will be presented along with insights and plans for the future of the Program.

Description: The management of the investments of an insurance enterprise has undergone a considerable evolution since the pioneering work of Redington in the mid 20th century. Best practices have evolved to incorporate ever more complex insurance liabilities, expanding investment asset classes and global market opportunities. Strategic asset allocation (SAA), liability driven investing, and other robust optimization approaches form the core of the professional management of insurance company investments.

Description: With many complex regulatory changes on the horizon as well as pressures to ensure model accuracy from auditors, regulatory requirements and new actuarial standards of practice, the importance of robust model validation is coming to the forefront of actuaries’ minds. What was previously a day-two task for many companies is becoming just as important as model development! In this session, you will hear from those that have been deeply involved in building model validation frameworks and tools in responses to regulatory changes GAAP Long Duration Targeted Improvements (“LDTI”) and Principles Based Reserves (“PBR”).

Description: Hear an overview of InsurTech trends and challenges globally. Then, presenters will dive deeper to talk about InsurTech's application in insurance product distribution via smartphones and insurance company's risk selection, risk evaluation, risk control and the related challenges brought to actuaries. Specific applications and cases will be presented.

Description: This 2008 supplement addresses the issues that have arisen in life insurance tax laws related to IRC 7702 and 7702A since the book was published in 2004. It also enhances and clarifies issues that were addressed in the text, adding detail and further discussion.

Description: Ronald Fawthrop and Brian Holland of the SOA’s Individual Life Experience Committee provided a preview of an upcoming individual life mortality study at the SOA’s Life and Annuity Symposium on May 9, 2017. Their presentations are available here.

Description: Future mortality improvement is an important assumption in the valuation of life insurance and annuities. In this session, presenters will discuss the work of the Mortality Improvement subgroup of the American Academy of Actuaries’ Life Experience Committee and the Society of Actuaries’ Preferred Mortality Oversight Group Valuation Basic Table Team in developing mortality improvement scales for AG-38 and VM-20. In addition, two recent SOA efforts on mortality improvement will be examined. Research on developing a broader framework for modeling mortality improvement assumptions is being developed to enable U.S. actuaries additional ways to follow a consistent approach across a variety of actuarial practice applications. Results from a study on U.S. population mortality by socioeconomic category and how it fits into the broader consistent framework will be presented. Additionally, results of a survey on mortality improvement practices of life insurance companies and reinsurers in Canada and the U.S. will be shared.

Description: Claims are insurers deepest and richest transactional data – yet we rarely unleash the full potential of this data. In this session, we will discuss potential sources and attributes of claims data, traditional approaches alongside new analytic techniques and how to integrate models into existing claims management processes. During this session, the presenters will discuss different areas of how machine learning can drive significant value unleashing the potential in claims data, these include data capture, claims management and workflow design as well as behaviour prediction. In addition, the audiences will also have opportunity to learn different use cases of how claims models taking advantage of machine learning, such as foreign death fraud detection and critical illness triage.

Description: Big data and predictive models have disrupted the life insurance new business and underwriting processes over the past few years. How did we get here? What does the future hold? This session will review the lessons learned from the evolutionary process and discuss what the potential next steps are in this journey. Are real time fully underwritten decisions an achievable goal?