Description: The Mortality Improvement Life Working Group released 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 Individual Life Experience Committee is holding a competition encouraging actuaries and other interested parties to predict 2017 industry mortality based on a data set containg 2009 - 2016 data. The competition is not only about predicting mortality, but also about explaining and presenting the results.

Description: Authored by a MIB Solutions team of Tom Rhodes, Stuart Klugman, Marianne Purushotham and Stacy Gill, the report summarizes the results of a study on the application and adoption of credibility theory within the life insurance and annuity industry. This excel spreadsheet is a numerical example relating to the application of Credibility for lapses. Please see the SOA website research section for the complete research report on Credibility Theory Practices.

Description: This session will showcase how from an actuarial perspective IFRS17 has its roots in market consistent valuations. It will also show how International Financial Reporting Standard (IFRS) 17 is rooted in probability-weighted stochastic scenarios-same as fair valuation, and how initial recognition sets the stage, as in the pricing basis and report, for actual experience to emerge as in the subsequent recognition. A detailed model will be given for a simple annual premium non-par endowment and actual numbers given and explained. The stochastic model will explain in detail the key reserve items in IFRS 17 including: - Liability for remaining coverage (LRC) - Risk Adjustment (RA) - Contractual Service Margin (CSM) And it will explain their interactions with one another. A discussion will be held regarding universal life policies with simple interest guarantees. And how these guarantees merit a valuation similar to Lookback options because of their path-dependent nature.

Description: This research utilized an interview-based approach that delves into the utilization of alternative data in the Australian life and health insurance markets.

Description: The expanded use of predictive models, algorithms and external consumer data has drawn the attention of the life insurance industry to the matter of fairness and bias in underwriting, including proposed regulation in states like Colorado and New York and a draft NAIC Model Bulletin. Insurers will benefit taking a proactive approach to verifying that their practices, both current and future, do not result in unfair discrimination. This session will help attendees in understanding potential requirements and reporting insurers must address, techniques and tools for evaluating bias, and challenges in doing so. At the conclusion of the session, attendees will be able to: o Understand proposed regulations and practices regarding fairness and bias o Identify tools and techniques for evaluating bias in their processes o Discuss the challenges the industry will face in addressing fairness in underwriting

Description: Following recent market volatility and regulatory changes, market data and market-consistent economic scenarios are at the core of the valuation of liabilities and market risk benefits under regimes such as IFRS 17 and Long Duration Targeted Improvements. This webcast will explore options available to insurance companies to establish stable long-term volatility assumptions and discuss how the choice of financial data can impact the calibration and the simulation of credit spread scenarios.

Description: Authored by a MIB Solutions team of Tom Rhodes, Stuart Klugman, Marianne Purushotham and Stacy Gill, the report summarizes the results of a study on the application and adoption of credibility theory within the life insurance and annuity industry. In addition to the report, numerical examples related to the application of credibility to company mortality and lapse data are provided in the four Excel files. This excel spreadsheet is a numerical example relating to the application of Credibility for mortality. Please see the SOA website research section for the complete report on Credibility Theory Practices.

Description: This session will examine bias from a social science perspective. It will discuss the three types of systemic biases using the National Institute of Standards and Technology (NIST) model. The NIST model details the three types as historical bias, societal bias, and institutionalbias. The session will also provide several examples of each type to provide a framework for identifying the social structure of bias.

Description: Authored by a MIB Solutions team of Tom Rhodes, Stuart Klugman, Marianne Purushotham and Stacy Gill, the report summarizes the results of a study on the application and adoption of credibility theory within the life insurance and annuity industry. In addition to the report, numerical examples related to the application of credibility to company mortality and lapse data are provided in the four Excel files. This excel spreadsheet is a numerical example relating to the application of Credibility for mortality. Please see the SOA website research section for the complete report on Credibility Theory Practices.