Description: Summarizes, in tabular form, mortality improvement rates referring to recently released report from CDC based on 2003 death rates.

Description: Portion of the introduction and the table of contents to the full paper entitled “Nontraditional Guarantees on Life And Annuity Products.”

Description: Product Development Section’s election results, and bio's of new members.

Description: Follow up of Illustration testing published in October 2015 on AG 49

Description: This article compares and contrasts the new 2017 CSO tables to the 2001 CSO tables and discusses considerations and possible implications of the new tables on reserves and the implementation schedule of the new tables.

Description: This article contains a summary of some of the Product Development Section presentations given at the 2017 SOA Annual Meeting & Exhibit in Boston this past October.

Description: Long-term guarantees place unanticipated burdens on companies because of the degree to which the environment can change. These risks are compounded when combined with estimation of policyholder behavior, especially when solid experience data is not available. When risks are properly reflected, long-term guarantees do not always provide value to the customer in excess of the manufacturing cost. The product development actuary is challenged to compare customer value to company cost and use that measurement to identify novel ways to design products to better serve customers.

Description: Against the backdrop of low interest rates, rapidly expanding data analytic capabilities, and increased consumer demand for better products, many life insurers struggle to innovate their product development initiatives. RGA conducted an online survey in the third quarter of 2018, asking 30 leading life insurance companies in Japan to identify current and future product development trends. A complementary survey of approximately 4,800 policyholders of life products in Japan was also completed in 2018. The findings highlight the product trends for risk, savings and living benefit products being developed, the market segments being targeted, and how insurers are differentiating product offerings through unique features and value-added services. Companies indicated they focused new product development efforts on substandard and standard risk segments, with only 20% pursuing the preferred market. Respondents indicated the Key Performance Indicators (KPIs) being used to measure successful product development are predominantly topline – premium, face amount and number of policies.

Description: This article discusses a variety of new developments in the annuity market.

Description: Provides a review of the available lapse experience for lapse-supported Life and Long-Term Care products.