Description: This reinsurance refresh session will review different types of reinsurance, main reinsurance regulations and resources, key reinsurance treaty provisions, as well as recent developments in reinsurance. We will also introduce LEARN, an education initiative sponsored by the SOA Reinsurance Section to help improve communication with regulators.

Description: Big data and predictive models have disrupted the life insurance new business and underwriting processes over the past few years. How did we get here? What does the future hold? This session will review the lessons learned from the evolutionary process and discuss what the potential next steps are in this journey. Are real time fully underwritten decisions an achievable goal?

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: Mortality Model Selection and Combination in RAlternative approaches for selecting mortality models and forecasting mortality have been proposed. The usual practice is to base mortality forecasts on a single mortality model selected using in-sample goodness-of-fit measures. However, cross-validation and other alternative out-of-sample measures are increasingly being used in model selection, and model combination methods are becoming a common alternative to using a single mortality model. Such methods combine predictions from multiple mortality models to reduce model choice uncertainty and improve forecast accuracy. Explore techniques to select and combine mortality models using the freely available open source R package CoMoMo (https://github.com/kessysalvatory/CoMoMo), which extends the widely used R package StMoMo (https://CRAN.R-project.org/package=StMoMo). We will use data for the USA and other countries to discuss and demonstrate four different model combination approaches including simple model averaging, Bayesian model averaging, model confidence set, and stacked regression ensembles.

Description: "Living to 100 in the time of COVID-19: A Study of Late –Life Mortality Trajectories, Leonid A. Gavrilov, Ph.D., Natalia S. Gavrilova, Ph.D., Academic Research Centers, NORC at the University of Chicago Swedish Mortality Does Not Decelerate in Recent Cohorts, or Does it? – Roland Rau, Ph. D., Professor, University of Rostock & Max Planck Institute for Demographic Research, Rostock, Germany; Marcus Ebeling, Ph.D., Karin Modig, Ph.D., Associate Professor, Anders Ahlbom, Ph.D., Professor Emeritus, Karolinska Institute, Stockholm Sweden; Kai Kaufhold, Aktuar DAV, Ad Res Advanced Reinsurance Services GmbH, Cologne, Germany; Annika Ziegler, Lukas Stake, Hochschule Koblenz & Ad Res, Germany"

Description: Feature article discussing how the insurance industry can better serve the middle income sector. The author cites LIMRA's latest study on personal ownership of life insurance which reveals an under-served and poorly served market. Improvements in marketing, distribution, and the issue process are the keys, in the author's opinion to improvement.

Description: This session will review reinsurance fundamentals, risk assessment techniques, optimization strategies, and regulatory considerations through case studies and best practices. Attendees will gain insights into enhancing capital management, risk mitigation, and improving operating results, utilizing practical insights from both reinsurers and direct experience. This presentation offers a valuable and practical opportunity to navigate the complexities of reinsurance, optimize transactions, and driving strategic growth in today's dynamic insurance landscape.

Description: "How long is long in longevity? – Jesús-Adrian Álvarez, Ph.D. - Danish Labour Market Supplementary Pension Fund (ATP), The Rate of Aging in humans is constant. New evidence – Marcus Ebeling, PhD., Research Group Mathematical and Actuarial Demography, Max Planck Institute for Demographic Research, Rostock, Germany, Department of Sociology and Demography, University of Rostock, Rostock, Germany; Roland Rau, Ph.D., Professor, Research Group Mathematical and Actuarial Demography, Max Planck Institute for Demographic Research, Rostock, Germany, C6 Institute of Environmental Medicine, Karolinska Institutet, Stockholm, Håkan Malmström, Ph.D., C6 Institute of Environmental Medicine, Karolinska Institutet, Stockholm, Sweden; Anders Ahlbom, Ph.D., Professor Emeritus, Karen Modig, Ph.D., Associate Professor, C6 Institute of Environmental Medicine, Karolinska Institutet, Stockholm, Sweden Human Lifetimes: Finite But Not Necessarily Bounded – Fei Huang, PhD., School of Risk & Actuarial Studies, UNSW Sydney; Ross Maller, Ph.D., Emeritus Professor, Xu Ning, Ph.D., Research School of Finance, Actuarial Studies & Statistics, Australian National University, Brandon Milholland, Ph.D., IQVIA Plymouth Meeting, PA."

Description: "Minimum Social Security Benefit (s) and the Alone Stage of Retirement in the U.S.? – Lori J. Curtis, PhD., Douglas Andrews, FSA, FCIA, Ph.D., University of Waterloo The Importance of Cognitive Health – Gordon Woo,Ph.D., RMS LifeRisks"

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.