Description: This is an article about The SOA’s Committee on Life Insurance Company Expenses CLICE and its completion of its fourth inter-company study of expenses for individual life and annuity business issued in the United States.

Description: This data request is for a study focusing on surrender/lapse, withdrawal, living benefit utilization, annuitization, and premium deposit experiences. The study aims to provide detailed analysis and insights into fixed indexed annuity contract activities.

Description: Resource papers that would be helpful to actuaries who work on Experience Studies and/or Table Development.

Description: Join us as we delve into the dynamic landscape of the Fixed Indexed Annuity industry. Presenters will discuss trends observed in recent FIA experience, observations from their own company's data, and findings from Milliman's FIA industry experience studies. Key results include a view of surrender behavior relative to market dynamics and comparisons with industry predictive models, serving as a benchmark to explore where industry experience aligns with expectations and where potential surprises have emerged. Through a combination of data-driven analysis and expert interpretation, attendees will gain valuable perspectives on the evolving FIA landscape, enabling them to make informed decisions to navigate future challenges.

Description: This session will delve into the results of a recent industry study exploring dynamic lapse behavior over the past five years in U.S. insurance products with general account credited rate-type features.

Description: "Modern actuarial work, being highly data-intensive, offers many opportunities for actuaries to apply the statistical skills gained through their basic training. Advances in computing allow us to analyze vast quantities of data efficiently, and many software packages provide statistical 'answers' to almost any question an actuary might ask. However, in this field, it is often worth taking a step back, and ensuring that we recall and consider the warnings that come with each of the statistical procedures we might attempt to use. This will allow us to ensure that we guard ourselves against drawing inappropriate conclusions, which could come back to haunt us later. At the conclusion of the session, attendees will be able to avoid drawing inappropriate statistical conclusions while doing their work. They will leave informed about the types of pitfalls that exist and where those might come into play in actuarial work."

Description: "The Individual Life Experience Committee continues to unlock valuable insights from the VM51 data as the NAIC releases it. In this session, attendees will get a preview of individual life mortality patterns during COVID-19 for more than 100 companies in the NAIC data for the years 2020 to 2021, the first years of the pandemic. The session will also share early findings from the committee's latest initiatives, including the integration of predictive analytics into reporting products, assessment of simplified and accelerated underwriting, exploration of joint life mortality, evaluation of company-level differences, and continued research into old-age mortality patterns. Attendees will leave the session with enhanced knowledge for assessing best-estimate mortality for valuation purposes."

Description: Come check out opportunities and challenges associated with using predictive analytics for LTC. You'll learn how carriers are using predictive analytics to support a range of business functions, including: - Pricing - accelerate underwriting without jeopardizing the risk profile for your new products - Experience studies - enhance your understanding of block performance and capture more granular experience trends in your assumptions with less subjectivity - In-force management - facilitate insight-driven interactions that improve policyholder satisfaction and optimize operational costs Expect panelists to discuss the infrastructure required to deploy predictive analytics and the ways in which predictive analytics can help drive key outcomes, including, improved market competitiveness, enhanced understanding, improved efficiency, and better policyholder outcomes. They will also talk about key hurdles to adoption, and considerations for overcoming these hurdles.

Description: Open source programming languages have become a common part of the actuarial toolkit over the years. Using tools like R and Python, highly technical actuaries can automate onerous processes, easily work with massive amounts of data, create models and generate reports. Although these tools excel at turbo-charging analysts, it can be difficult for benefits to inure to the rest of the organization given the learning curve (“Can’t you just put this in Excel?”), control risks (“So your entire process could break overnight if some random person in Nebraska changes something?”), and internal IT environments. Listen in on a panel discussion where presenters share their personal stories of working with open source in a production setting. Hear about real world business problems, how open source tools were used, what risks were present, how they were overcome and the final business result.

Description: Stay current with the latest mortality trends and practices in this wide-ranging session, covering research performed by the SOA and their collaborators, including recent research from the SOA's Individual Life Experience Committee. Topics will include mortality improvement, mortality by socioeconomic category, cause of death analysis, and insurance company life experience quintile analysis.