Description: Based on a late 19th century analysis, life insurance premiums were once differentiated by race, with Blacks/African Americans experiencing higher rates than for whites. Over time, the actuarial profession has had increasing focus on professionalism and responsibility to the public, and today all members of the five actuarial organizations based in the U.S. are subject to the Code of Professional Conduct. Come engage in interactive discussion about how Precept 1 might help current actuaries avoid bias in our work, including when thinking about risk classifications and dealing with new technologies. By attending the session, you will be able to: Understand the importance of Precept 1 in our self-governing profession. Think about prevailing conventional wisdom and potential bias in your current work. In this webcast, dive into the past history of life insurance premiums and the growth of the actuarial profession due to an increasing focus on professionalism and responsibility to the public. Premiums were once differentiated upon by race, the Black/African American population experiencing higher rates. Due to the Code of Professional Conduct, all members of the five actuarial organizations based in the U.S. are now subject to this rule. This interactive discussion is meant to engage the audience in an overview of Precept 1, which might help actuaries avoid bias in their work. This includes risk classifications and dealing with new technologies. If you were able to make it to the 2022 SOA ImpACT Conference, this is a repeat of Session 2F.

Description: The most recent U.S. population data released by the Centers for Disease Control and Prevention (CDC) and from the U.S. Census at year-end 2021 includes the first ten months of the COVID-19 pandemic in the U.S. While we know the pandemic has had significant impacts on both the U.S. population and insured population mortality, we also see increased mortality due to many other non-COVID causes of death. Where are the biggest changes and what does this non-COVID excess mortality mean over the next few years? Take part as an expert panel hosts an interactive discussion to examine data from general population as well as from both individual life and group life experience studies to explore how these changes might spur innovation in underwriting, assumption setting and pricing.

Description: ClubVita Session Series Buyouts and indemnity swaps remove all the longevity risk from an underlying population. However, they can be difficult to unwind and are not very flexible or widely tradable. Explore the characteristics and product structures of indexed based longevity swaps, demonstrating how they can cover any term, how they hedge the key component of trend risk and how, with new technology developments, they could lead to a liquid market.

Description: The Reinsurance Section, Product Development Section and the Committee on Life Insurance Research are pleased to present results from a company practice survey of individual life insurance accelerated underwriting. Performed by a Milliman team led by Al Klein and Karen Rudolph, the study provides perspectives from both direct life insurance companies and reinsurers. Among the areas addressed include the structure of accelerated underwriting programs, how programs are monitored, how accelerated underwritten business is performing relative to expectations and how companies are considering accelerated underwriting cohorts in the context of VM-20 assumption setting.

Description: Guaranteed Issue mortality valuation tables, report, and definition.

Description: Actuarial transformation initiatives often require significant investment in time and resources. However, not all initiatives deliver the desired results. Complex integrations of new data and technology pose a significant challenge for business and technology teams to deliver on time and on budget. This challenge can be overcome if addressed thoughtfully with emerging technology and business-friendly tools which offer benefits to both actuarial business users and technology professionals. In recent years, low-code technology has emerged which empowers actuaries by providing capabilities for data analytics, self-service, and visualization without requiring extensive technical prowess. Pairing these tools with emerging cloud-based data management solutions allows actuaries to quickly manage and analyze large data sets along with enhanced governance and integration. By adopting these technologies, actuaries are empowered to deliver better outcomes for their organizations Come explore a panel of actuarial business and technology experts who will share their insights and experiences on how low-code technology solutions can empower actuaries with better access to data and analytics. The panelists will discuss real-world case studies to demonstrate the practical benefits of these tools and how they can be used to achieve better business outcomes.

Description: Join us to learn how life insurers and reinsurers have partnered with biotech innovator GRAIL to help save lives by offering a multi cancer early detection test. After a year of partnership, we are excited to share the impact we've had on people's lives and the progress we've made in different pilot programs. During this session, you will learn about key findings from these programs, and how life insurers can take action and bridge the gaps in the US healthcare system to achieve one common goal with their policyholders: help them live longer and healthier lives. More broadly, the purpose of this session is to educate and showcase how insurance companies can step out of their traditional role and use creative solutions to solve problems that benefits both the policyholders and the insurers.

Description: Advancements in machine learning modeling as well as new sources of data coming to the fore help feed the burgeoning industry of InsurTech applications in underwriting. By attending this session, you will learn about the latest developments in InsurTech applications in life/health insurance underwriting.

Description: In this report, we consider high-level results from provisional mortality data released from the U.S. Centers for Disease Control and Prevention (CDC) for 2021, including looking at changes by sex and age group.

Description: An update of selected key graphs from the Key Statistics section of previous COVID-19 briefs.