Description: SECURE 2.0 included provisions that improve the ability of insurers to serve those who own qualified annuities. Several previously disallowed distribution methods are now allowed. These changes should increase the availability and desirability by contract owners to choose a payout annuity compared to required minimum distributions. An insurer considering enhancing qualified annuitization offerings might follow the approach outlined to potentially increase qualified annuitization sales and assist contract owners in protecting their principal more directly than previously.

Description: The article describes the factors that should determine the asset allocation of an employer's QDIA, especially Target Date Funds, and suggests that in general QDIAs have insufficient equity in retirement asset allocations.

Description: The numerous restrictions as a result of the COVID-19 pandemic have certainly affected everyone and those measures may have consequences for our health. The article attempts to uncover possible links between COVID-19 and depression.

Description: GAAP's elimination of gross profit as a basis for amortization of deferred acquisition costs enables the accounting for reinsurance of universal life contracts to better reflect the economic protection provided by reinsurance. It also makes it easier to assess the effectiveness of different techniques. Building on the analysis of an earlier article, "A Fresh Look at Accounting for Reinsurance of Universal Life," this article presents a practical approach to estimating the ineffectiveness of several existing techniques at accounting for the economic protection provided by reinsurance. The article ends with a summary of what a company might do to improve the effectiveness of its reinsurance accounting.

Description: The direct and indirect effects of the pandemic have impacted many actuaries’ work since the spring of 2020. This article addresses three considerations actuaries should account for when using risk evaluation models which are focused on projecting remote, highly unlikely losses: model effectiveness, asset risk, and insurance (mortality and mortality) risk.

Description: As actuaries, we’re trained to see patterns in numbers and to design solutions that mitigate risk. But I can tell you from experience that while quantitative analysis and modeling are critical actuarial tools, looking at the numbers alone can lead to insurance products that don’t succeed in the real world the way the math says they “should.” With new digital technologies, we have more data at our fingertips than ever before, but I believe it’s equally as important to bring qualitative research methodologies into your product development process if you want to design solutions that meet real needs in the market. In this article, Amanda Turcotte shares what happens when qualitative research is neglected or ignored, what happens when you incorporate it into the product design process, and how to implement qualitative research practices in your organization.

Description: This article delves into the transformative realm of Business Intelligence (BI) tools. We explore the fundamental functionality and structure of these tools, and through case studies illustrate how they offer valuable insights into carrier experience and underwriting dynamics. From real-time data visualization to in-depth data analysis, discover the essential features that empower businesses to make better informed decisions.

Description: With coinsurance of an existing block of long-duration insurance contracts, there may be existing reinsurance that remains in force. The new coinsurance is typically net of such “inuring reinsurance.” In this article, we look at approaches that the new reinsurer might apply to account for the effects of inuring reinsurance.

Description: This article identifies why insurance innovations take so much effort and digs deeper into the underlying causes. It shows and explains the importance of taking an efficient, tactical, and intentional approach when innovating to avoid over-building and over-investing.

Description: As actuaries in health care, we spend most of our time focused on reviewing claims, enrollment and clinical data. That information is captured while patients are in health care facilities. Yet most people spend only a small fraction of their time in these facilities. This article explores what types of data are available to actuaries the provide a more holistic view of the member so that a members physical and emotional needs, the social determinants of health can be taken into consideration along with their clinical needs. Two uses cases are presented so actuaries can see how these types of analyses can be leveraged to improve clinical, operational, and financial performance of risk bearing health entities. Understanding the customer (member) not just the patient enables actuaries to provide new insights and values to our stakeholders across a wide range of business and risk applications.