Description: Accelerated underwriting programs continue to evolve at a rapid pace. Triage systems have become a key element in many of the newer accelerated underwriting programs in the market. Depending on the criteria used at the triage point, these programs can have residual effects on class prevalence and mortality which in turn affect the profitability of these programs. In this article we will explore some potential impacts on mortality and prevalence within these programs.

Description: Feature article discussing the usefulness of Lorenz and Lift curves.

Description: Chairperson's column for the May 2019 issue of Predictive Analytics & Futurism.

Description: This article provides a very high level overview of accelerated underwriting programs and their history in the US marketplace. It then discusses setting up an actuarial control cycle for such products and some items related to risk management that are helpful in this setting. Pros and cons of retrospective studies, random holdouts, targeted holdouts and post issue analysis are discussed. A mathematical example of how to estimate the mortality impact of such programs from early emerging experience is provided.

Description: Explores the applications and techniques of model governance, focusing on benefits such as model literacy, efficiency, and confidence.

Description: One important lesson learnt from the recent financial crisis was that overreliance on financial models could lead to unforeseen and harmful consequences. Model risk management (MRM) is becoming a core and mandatory component in enterprise risk management for many financial institutions, especially Fed/OCC CCAR-compliant firms. In recent years, insurance companies are also being required to have model risk management programs by Solvency II, ORSA and other supervisory guidance. MRM is not just model validation. It consists of governance and policies regarding a model's life cycle including data, model development, model test and implementation, model validation, model monitoring and documentation. It also provides guidelines and standards for risk assessment and model inventory management. The presenters will discuss current and best practice MRM, approach for model validation and auditing, as well as topics for technical issues such as types of model risks. It will also discuss the differences between Fed/OCC standards and Solvency II standards. At the conclusion of the session, attendees will be able to: Describe best practice in model risk management; Explain requirements and standards; and Develop model validation procedure.

Description: This session will cover clustering techniques generally (k-means, hierarchical), and how k-means have been used to segment policyholders using third party features such as credit scores to assess customer profitability.

Description: This session will review limited fluctuation credibility, and how to apply that approach to a GLM. Alternative credibility approaches through the lens of ASOP 25 will also be discussed.

Description: This report examines the use of a copula approach to build a predictive model to estimate the amount of economic capital a life insurance company needs to protect itself against an adverse movement in interest rates, mortality, and other risk drivers.