Description: This article gives a formula for reversing failure into success

Description: An article on kinder, gentler mergers and acquisitions. Life insurance company mergers and acquisitions are seeing a renewal of activity. Now, however, they are being handled with a new consciousness.

Description: Stakeholders in a specific state (Minnesota) were interviewed about the potential value -- and obstacles -- of a catastrophic backstop program to handle long term care (LTC) financing needs. The design would entail a payroll deduction which would produce a fund to pay LTC expenses once a deductible period (of 1 to 4 years, depending on income) was reached. This design was believed to encourage enrollees to cover the front end better than done today, whether by private insurance or other means.

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

Description: Read how the world’s largest provider of specialty insurance for classic vehicles uses its media department’s YouTube videos to its full advantage.

Description: When designing and pricing a healthcare product, it is not only important to know how to model frequency and severity, but it is essential to understand human behavior. Of course, the issue of anti-selection in medical insurance is well known as individuals know more about their health and prior expenditures than an insurer does. This type of behavior is certainly rational, and to be expected.

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: This article starts with the increasing attention that FP&A receives due to the implementation of new financial regimes and emphasizes the collaborative nature of FP&A. It then describes the roles that actuaries play in FP&A, the new demands for actuaries that we are observing, and suggests some best practices that we are seeing across the clients. This article targets to point out the new demands from FP&A on actuaries and provide some advice on how actuaries can do to meet these demands.

Description: As the new VM-22 framework reshapes reserving for non-variable annuities, actuaries face both opportunities and challenges. Our latest insight and highlights what you need to know about assumption setting, model validation and asset optimization ahead of 2026.

Description: The landscape of the reinsurance industry is evolving amid profound changes in the insurance sector. Innovation is vital for reinsurers as risks become more complex and insurers transition from a role of "protection" to "prevention." Successful reinsurers are responding to market dynamics, particularly through open innovation – collaboration with startups.