Description: The article introduces two previously published articles.

Description: This article delves into the transformative realm of Business Intelligence (BI) tools. We explore the fundamental functionality and structure of these tools, and through case studies illustrate how they offer valuable insights into carrier experience and underwriting dynamics. From real-time data visualization to in-depth data analysis, discover the essential features that empower businesses to make better informed decisions.

Description: This note is provided as an accompaniment to 'Actuarial Mathematics for Life Contingent Risks' [AMLCR] by Dickson, Hardy and Waters [2009, Cambridge University Press]. AMLCR includes almost all of the material required to meet the learning objectives developed by the SOA for exam MLC for implementation in 2012. This note aims to provide the additional material required to meet the learning objectives in full. This note is designed to be read in conjunction with AMLCR, and it references section and equation numbers from that text. It is expected that this material will be integrated with the text formally in a second edition.

Description: Starting with a review of recent VA and FIA industry policyholder behavior experience, this session will explore several critical elements in developing a sustainable and coherent framework to translate this complex experience data to assumption models, particularly for guarantee features such as GLWBs. The discussion will include the use of industry- and company-level data in building customized predictive models, and integrating models across behaviors such as income utilization and surrenders.

Description: In reaction to a spate of model conversion activity and rising acceptance of model risk management techniques, many companies have, or are in the process of centralizing their modeling function to accommodate both governance and efficiency demands. These operating model changes have produced a wide range of questions and issues, such as division of labor, roles and responsibilities, selection of tasks to keep decentralized, among others. This session will frame a series of key considerations around modeling function consideration, and share lessons learned with the audience.

Description: Reinsurance has been available for VA Guarantees for over 20 years. During that time, the reinsurance market for VA Guarantees has undergone frequent and sometimes violent transformations. Where does the market stand today? What forms and structures of reinsurance are available? Which VA Guarantee designs and features are easier to reinsure? Is reinsurance offered on both newly issued policies as well as in force/legacy books, and which vintages are difficult to reinsure? In an age of sophisticated hedging programs, what role does a reinsurer play in helping a VA writer manage this highly volatile risk? In this session, we will hear from a reinsurer that is actively writing new VA Guarantee reinsurance treaties in the U.S. and around the world, and from a VA writer that has successfully partnered with a reinsurer to enhance its VA product offering.

Description: The Society of Actuaries are once again offering a seminar that investigates all aspects of life insurance, annuity and long term care product tax compliance. Developed by the Taxation Section, participants will be brought up-to-date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC), and allow ample opportunities for networking, questions and information exchange.September 12The optional “boot camp” will provide an intense introduction to the basics of product taxation. The boot camp will include sessions focused on life insurance, annuities, and long-term care combination products. The basis of the boot camp will be the authoritative textbooks, “Life Insurance and Modified Endowments Under IRC Sections 7702 and 7702A” and the “Annuities Answer Book.” Book authors will conduct these optional programs. September 13–14The general sessions will feature product, tax, legal and compliance experts as well as Internal Revenue Service (IRS) representatives. Recent changes in the qualification requirements of insurance products and a host of product tax issues beyond Internal Revenue Code (IRC) section 7702 and 7702A will be emphasized.

Description: The presenters will explore the long-term care insurance product and its impact on potential transactions. Discuss why the inherent risks of this product create challenges for buyers and sellers in this market.

Description: Presenters will address optimal new business written premium mix at the firm and state levels under varying competitive conditions. They will explore the use of mean-variance optimization to determine a company's optimal new business written premium mix for a given geographical area, predicting statewide product mixes using varying rate regulation scenarios, involving profit caps and measuring/testing a market's competitiveness for a given line of business. The scope of the ideas to be presented is international, applying to property, liability, individual and group life; individual and group health; disability and accidental insurance. Examples will be presented for general insurance in the United States

Description: The presenters will explore the current state of the North American mortality baseline and long-term improvement assumptions and determine what we can learn from the UK's approach. They will share research done by the Society of Actuaries and other organizations to describe how to build a better model, plus show the impact socio-economics and other factors have on longevity expectations. The presenters will offer suggestions for how U.S. and Canadian pension plan and insurance actuaries--and the industry itself--can best use this research to develop a better model for the risk management of pension plans and group annuities