Description: The current coronavirus pandemic has caused a number of challenges for life insurers and this article summarizes the operational challenges, namely in two areas. First, the article will discuss the challenges companies are facing to collect traditional underwriting evidence and potential short-term solutions used to overcome these limitations. Second, the actions companies are taking to alleviate the financial difficulties customers may have paying premiums will be addressed.

Description: This article highlights emerging accelerated underwriting (AUW) monitoring trends and best practices that carriers can implement for monitoring their own AUW programs. It includes high-level mortality slippage findings based on a reinsured study population comprised of both pre- and post-issue auditing methods (random holdouts and post-issue audits) conducted on over 33,000 AUW applicants over the past decade.

Description: A paper demonstrating how to obviate the need for market timing strategies in variable annuity products by judicious use of product design. The paper presents the premise behind the product design, provides numerical examples, then explores possible extensions of the concept to produce more sophisticated variable annuity plans based on guarantees of investment outcomes.

Description: Understanding the volatility associated with audit samples, as well as breaking out the different contributors to estimated mortality impact are vital tools in helping actuaries and underwriters make informed decisions about less invasive underwriting programs. This article walks through a sample example demonstrating how to calculate these metrics.

Description: A discussion of the 1998 changes to New York’s Expense Limitation Law

Description: This article is a summary of a debate at a Southeastern Actuarial Club meeting that looked at the appropriateness of secondary guarantees in UL products.

Description: How Ready Are You for the Critical Illness Challenge? by Johan Lotter from Product Development News, August 2000, Issue No. 50.

Description: Are You A Product Actuary or A Marketing Actuary? Several years ago, the concept of a marketing actuary was in vogue. Many job titles were changed to reflect this new concept, and some new jobs were created. But the question is, did the job really change? There is a distinct difference between a product development actuary and a marketing actuary.

Description: A discussion of adjustments to the issue and underwriting process to speed up the process in order to succeed with bank distribution of insurance products.

Description: Discussion of work site mortality— including risk classification and underwriting methodology decisions which affect the appropriate mortality assumptions