Description: This project enhances the current understanding of cyber risks in the smart home ecosystem from the insurance industry's perspective. In particular, the quantitative framework and pricing strategies developed in this project can be immediately adopted/adapted by actuaries to price the cyber risks for smart homes, a fast-growing insurance market.

Description: This report covers the latest emerging trends in U.S. population mortality. The SOA relied upon data furnished by the Centers for Disease Control and Prevention (CDC). Observations are based on the CDC’s recent release of 2020 mortality experience, along with prior mortality experience data from 1999 through 2019.

Description: In today’s business world, many financial decisions undergo considerable analysis before the decision is made and the decision-maker is often held accountable for the outcomes. The purpose of this research is to introduce the concept of total risk analysis (TRA), which is designed to help the decision-maker answer key questions at the time the decision is made. This paper will focus on a specific example of a typical healthcare decision: setting a budget for claims in the upcoming year. In addition to explaining TRA and providing a case study, this paper presents quantitative research regarding cost distributions for health care costs.

Description: This is a study to perform a mortality analysis of the 1898-1902 birth cohort.

Description: This report documents updates to the Canadian mortality data in both the Human Mortality Database and the Canadian Human Mortality Database, including new data for 2022–2023.

Description: This article discusses considerations for statistical biases that may arise in LTC blocks due to historical benefit reductions. The article explores these biases in the context of experience studies and experience projections.

Description: While our ability to access and analyze large quantities of data is better than ever, many long-term products suffer from sparse data in critical risk areas, such as deep in-the-money lapse experience and long-term utilization rates for income guarantees. The presenters will explore industry-level annuity experience data for these types of situations, and discuss quantitative approaches to addressing them in pricing and other applications.

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: Expanding channels and datasets to understand our policyholders

Description: Research report describing an analysis of experience transition rates between Long Term Care insurance claim settings over the course of a claim. Examples of such transitions are from an assisted care facility to home health care or from home health care to a nursing home.