Description: As product development professionals, we know that getting customer feedback is a key component of the product development process. If crafted carefully, these sessions can uncover true unmet needs, unlock the next product innovation, and create market share gains, all while creating something that contributes to society. As quoted during one of our last focus groups, “Magic stuff happens here.” When designing your research, are you doing all that you can to promote inclusive thinking? By focusing on the design of your study—through overall theme and by paying attention to the details in the process—you can uncover new perspectives that you may not have considered, if not for being deliberate in your actions. Instead of just avoiding structures that create biases, we need to actively incorporate inclusivity. Our team performed a study titled “Designing Solutions to Empower Women,” which focused on women’s viewpoints and how those could be incorporated into life insurance product development. I would love to share some of my experiences and tips collected along the way.

Description: This is a contest held by the Entrepreneurial and Innovation Section where participants wrote an article presenting a solution to an insurance-based problem using artificial intelligence.

Description: In this presentation, members of the Sexuality and Gender Alliance of Actuaries (SAGAA) will review some of the basic biases that impact us all personally and professionally. Followed by a deep dive into the history of how the insurance industry has handled both applicants and policyholders who are living with HIV, which disproportionately impacts communities of color and the LGBTQ+ community, and how systemic biases that are formed over decades impact the marketplace today.

Description: This article studies several pedagogical uses of tables, particularly as they apply to actuarial teaching.

Description: S&P reissued a second Request for Comment (RFC) in May 2023 that proposed changes to their insurer capital adequacy methodology and assumptions, and suggested these proposed changes may become effective at the end of 2023. This paper is to highlight the notable changes between the current capital model criteria and the proposed model. We also discuss major changes from the first RFC and the second RFC, as well as several key items that still require enhanced guidance and clarification. Our analysis is based on information gathered from S&P's public comments, conversations with industry participants, and publications released by S&P Global as of July 2023 when this paper was written. Most U.S. life insurers are rated by S&P using their U.S. Life Statutory Capital model, while other insurers use the GAAP/IFRS Capital Model. Statutory financials will remain the starting point for U.S. life insurers under the proposed model, however there will be additional adjustments made to these numbers in an effort to create consistency and comparability with other accounting and solvency regimes.

Description: Read this Chairperson's Corner for the March 2024 issue of International News to learn more about planned meetings and upcoming events.

Description: The average person spends from one third to one half of every waking hour thinking about the past or present. We talk to ourselves when we do. Psychologists have identified three steps you can take to make your self-talk more positive. This will make you happier and better able to achieve the goals you set at home and at work.

Description: A look at current AI usage and future use cases.

Description: The article describes a new professional experience course in actuarial science at the University of Toronto, including details on its key building blocks and student assessments. It also discusses different teaching modes (in-person vs. online). It should be of interest to institutions looking to add industry internships and experiential learning into their actuarial education.

Description: Presenting the customer a measurable value of life insurance that makes the advice process transparent to both the customer and adviser.