Description: Measuring the interplay between climate risk and morbidity and mortality is complex and often requires a multidisciplined team approach to meeting objectives. In this session, presenters discuss their journey and the twists and turns encountered in examining the link between wildfires, air quality, pollution, and morbidity and mortality implications. In addition to sharing their insights about the process, presenters will provide results from their, such as: - Mortality and morbidity risk trends influenced by climate change, wildfires, and air quality issues - Regional, risk class, socioeconomic, and temporal variations in these trends - Projections based on the observed trends and their implications for the future - The impacts on specific causes of morbidity and mortality, such as respiratory disease, cancer, and cardiovascular disease By attending this session, you will gain a better understanding of the following: - Implications of the study for life and health insurers - Key risk factors for individuals affected by air quality issues, the drivers for morbidity and mortality impact, and differences between the general and insured population - Process, data, models, and considerations needed for examining the mortality and morbidity consequences of climate risks like wildfires

Description: Presenters will explain how traditional distribution channels are being reshaped by emerging technologies such as artificial intelligence, data analytics, and digital platforms. Participants will gain insights into how these technologies are not only enhancing customer experiences, but also enabling insurers to reach new markets and demographics more effectively. A central theme is the importance of collaboration and breaking down silos within insurance companies. The session will be interactive featuring case studies showcasing both the triumphs and failures of innovative distribution initiatives. By dissecting these case studies, participants will glean valuable lessons on what works and what doesn't when attempting to bring about change in life insurance distribution. Attendees will learn to appreciate the challenges faced by distribution and how collaboration across departments - from underwriting to marketing to IT - can unlock new opportunities and drive significant growth in distribution strategies.

Description: Welcome to the appellate court. We’ve seen some scare in mass media on climate-linked mortality, but not sure what to make of that in our actuarial practice. Both data and research is quickly evolving around climate change’s impact globally and to US mortality. We’ll share a few tidbits from recent actuarial research on wildfires and air pollution in particular. At the same time, there are still many unknowns on the long-term effects, and this phase of understanding is ripe for calling on a diverse group of experts. We bring expert witnesses from different professions to the actuarial stand to answer whether climate change’s impacts from heat wildfire-induced air pollution to mental health is a credible and material threat to insured mortality. The audience should come ready to judge the arguments presented.

Description: This article is the final installment of our three-part series on economic scenario generators (“ESGs”). Part I and II were published in the November 2019 and August 2020 issues of The Modeling Platform. Part III contextualizes the framework for selecting, building, and validating ESGs and focuses on the Academy Interest Rate Generator (“AIRG”), the most commonly used real-world ESG for US actuaries

Description: The SOA Reinsurance Research Section is seeking proposals on Mortality Improvement Independ – Independent Analysis. Mortality improvement is an important assumption for projecting future liability cashflows and has a material financial impact on a company. Mortality improvement is a hot topic in the industry and companies show significant interest in understanding the key factors that differentiate mortality improvement. The focus of this research is to gain a better understanding of the main drivers of mortality improvement:

Description: The Society of Actuaries (SOA) is pleased to bring you information about the actuarial career path in life insurance and predictive analytics. We’ll continue to share more about actuaries who are tackling some of the industry's biggest challenges and top employers in life insurance.

Description: This session will cover the treatment of various forms of reinsurance under Valuation Manual-20 (VM-20). Speakers will discuss the implications of various types of reinsurance agreements on the calculation of principle-based reserves (PBR). This will include coinsurance and modified coinsurance, guaranteed and non-guaranteed yearly renewable term (YRT), as well as financial reinsurance. Additionally, practical considerations for PBR in 2024+ will be discussed including adopted and active APF's, their content, and emerging issues.

Description: At the end of December 2020, Congress enacted the Consolidated Appropriates Act, 2021, which included revisions to Section 7702. Effective for policies issued after December 31, 2020, the fixed 4% and 6% minimum annual effective rates under these tests were changed to refer to a market-based rate called the “insurance interest rate”. For contracts issued in 2021, the insurance rate was set to 2% - defined as the lower of the Section 7702 applicable federal interest rate based on the 60-month period ending December 2019 (2%) and the Section 7702 valuation interest rate in effect for 2020 (3.5%). This reduction in the rates used for compliance testing required significant product, operational, and technology changes for companies to reach product compliance. After 2021, the insurance interest rate is redetermined annually with a minimum change floor.

Description: Indexed Universal Life ('IUL') has commanded a substantial share of life insurance sales since it was first introduced nearly 25 years ago. Even today, despite rising interest rates, IUL remains popular. It was one of the only products whose sales grew in 2022. Today's IUL products bear only passing resemblance to those offered when the product was first introduced, with updates to product design driven by regulatory and economic changes.

Description: Stay current with the latest mortality trends and practices in this wide-ranging session, covering research performed by the SOA and their collaborators, including recent research from the SOA's Individual Life Experience Committee. Topics will include mortality improvement, mortality by socioeconomic category, cause of death analysis, and insurance company life experience quintile analysis.