Description: This web page describes the new 2013 Survey of Lapse and Mortality Experience report.

Description: This session meets the needs of life insurance actuaries who are focused on experience studies, assumption setting, and/or product development. The presenters will use industry data to illustrate how policyholders react to product design, such as premium jumps in the PLT period and UL with high interest rate illustration, and trends in the life insurance market, including the introduction of smoking distinguished rates and the shift towards an increasing number of preferred underwriting classes.

Description: The presenters focus on traditional and non-traditional techniques for setting IBNR and assume some experience on the topic. Take in a brief overview of the basic development of IBNRs for financial reporting. Then explore general considerations and various methods used to estimate claim costs, plus understand variability in IBNR projections as well as challenges that arise in certain situations. There will be opportunities for the audience to share ideas and considerations based on past experiences.

Description: Administration system updates and conversions. Legacy systems and their associated problems. Continued low interest rates and in-force policy management actions affecting policyholder behavior. These are but a few of the taxation challenges facing insurers managing the growing complexity of their businesses.<p> Presenters will consider these and other product taxation-related issues, highlighting ways insurers have sought to address them, their impacts, and potential mitigation strategies

Description: Several key market trends have encouraged the development and launch of direct to consumer business models over the last few years. The presenters will look at the impact this is having on traditional business models and the potential it has to open up growth paths to target markets. They will cover several new entrants coming to market aiming to solve specific industry gaps and/or create new opportunities in distribution, risk assessment, customer engagement and the consumer buying experience.

Description: A recommendation for a set of improvement factors that vary by gender and attained age to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table for AG-38 purposes.

Description: The Group Life COVID-19 Mortality Survey gathers a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic through March 2021, as compared to prior period baseline mortality results. This new report is an update to the survey report released in December 2020, which contained data through August 2020.

Description: This is a report on the comparison of captive insurer jurisdictions and focuses on the requirements for captives reinsuring or issuing life insurance, annuities and long-term-care products (“life captives”).

Description: The Reinsurance Section, Product Development Section and the Committee on Life Insurance Research are pleased to present preliminary 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. The report recaps a presentation of the preliminary results from the 2019 Life and Annuity Symposium. The final results are expected to be available later in 2019.

Description: The Individual Life Experience Committee has completed their latest report on intercompany mortality experience by amount of insurance under standard individually underwritten issues. This includes study years 2009-2015.