Description: This newsletter provides a regulation outlook for the use of AI/ML in insurance industry, interpretations of regulatory expectations and what insurers should consider when managing risks associated with the development, implementation and use of AI/ML models/tools.

Description: Stakeholders in a specific state (Minnesota) were interviewed about the potential value -- and obstacles -- of a catastrophic backstop program to handle long term care (LTC) financing needs. The design would entail a payroll deduction which would produce a fund to pay LTC expenses once a deductible period (of 1 to 4 years, depending on income) was reached. This design was believed to encourage enrollees to cover the front end better than done today, whether by private insurance or other means.

Description: This article explores recent regulatory developments, in the U.S. and the E.U. related to artificial intelligence, and briefly discusses steps insurers can take to get ahead of the curve.

Description: Savings from biosimilars have accelerated significantly in the past few years. There has been a number of relatively recent biosimilar launches that can help to shape our expectations of the financial impact that could result from this year’s big event. Savings from biosimilars have accelerated significantly in the past few years. There has been a number of relatively recent biosimilar launches that can help to shape our expectations of the financial impact that could result from this year’s big event.

Description: A summary article about the SOA Research Institute's participation in the summer 2024 NAIC national meeting in Chicago.

Description: Geoeconomic fragmentation is reshaping the global risk landscape in profound ways, with significant implications for the insurance industry and actuarial professionals. The disruption of traditional models of risk diversification, the growing demand for specialized insurance products, and the increased volatility of financial markets all require actuaries to reassess their approaches to risk management, pricing, and capital allocation. By embracing scenario planning, enhancing geopolitical intelligence, and adapting their models to reflect the new realities of a fragmented world economy, actuaries can help insurers navigate this uncertainty and continue to provide essential protection to businesses and individuals in an increasingly unpredictable global environment.

Description: Two years ago, before COVID-19 changed everything about how we provide and receive health care, telehealth was largely provided by third-party vendors to treat a narrow range of acute one-and-done conditions. The value proposition was simple: a fast and easy member experience would drive satisfaction and engagement; high member satisfaction and engagement would drive health plan savings and member retention. Clearly, from the perspective of utilization, telehealth—as a viable alternative to in-person care during a pandemic—worked. And with COVID-19’s nudge—or was that a push?—toward cultural acceptance, the health care system is in a better position to capitalize on telehealth’s original promise of expanded access, lower cost and better outcomes than it was two years ago. But in the wake of the pandemic, it is just as clear to us that if telehealth is to live up to its full potential, some changes are needed. The rest of this article presents five ideas for improving the delivery of telehealth going forward.

Description: Comparison of domestic and international PFML programs

Description: The article introduces two previously published articles.

Description: Discussion of recent developments in the taxation of noncoordinated benefits such as fixed indemnity, hospital indemnity, and specified disease insurance policies. Developments include a recent Chief Counsel Advice Memorandum and proposed triagency rulemaking that would impact non coordinated benefits.