Description: Internal modernization initiatives and external changes of the financial reporting regulations (e.g., LDTI, IFRS 17) increase the amount of validation activities for actuarial models. In addition, the use of predictive analytics in actuarial modeling requires a different set of validation skillsets/techniques in model validation. These internal and external forces call for a structured, streamlined and robust model validation practice.

Description: 2021 Generally Recognized Expense Table (GRET) recommendations.

Description: Find updates to the Group and Health Specialty Exam syllabus.

Description: The Product Development Section, the Financial Reporting Section, the Modeling Section and the Committee on Life Insurance Research are pleased to present new research on modeling and forecasting cause-of-death mortality. Authored by a Milliman team led by Alexandre Boumezoued, the report develops a framework for forecasting cause specific death rates. Included also is a Cause of Deaths Forecasting Tool and a user guide for the tool.

Description: The popular press plays an important role in public perception regarding automated vehicles. In contrast to the excitement generated two to three years ago, we are now in a period of “reverse hype” with most articles focused on the slow pace of development and concerns regarding possible negative impacts on traffic congestion and growth of suburbs. To help describe current trends and highlight differences between the cars we see on the street today and driverless vehicles, this report relies on three market-related definitions; safe, self-driving and driverless.

Description: This report, from the Society of Actuaries [SOA] ‘Experience Studies – Individual Disability,’ represents the first study of individual disability income [IDI] lapse experience conducted jointly by LIMRA International and the Society of Actuaries [SOA] Individual Disability Insurance Experience Committee. The study examines lapse activity for years 1999 through 2001.

Description: Report summarizing the results of the 2019 PBITT UL with Secondary Guarantees Survey.

Description: This study examines the extra mortality associated with evidence of excessive alcohol use, an adverse driving record or abnormalities of the liver function tests. Due to the difficulties associated with diagnosing alcoholism, this study focuses on the biochemical markers that were reported to the Medical Information Bureau MIB during the study period.

Description: This report examines historical U.S. motor vehicle accident mortality experience by age, gender, region, and other factors.

Description: The SOA offers emerging research projects and reports on risk management, including research on predictive analytics, climate risk and general insurance risk.