Description: The Committee on Life Insurance Mortality and Underwriting Surveys of the Society of Actuaries Research Institute sent companies a survey in May of 2019 on mortality improvement practices. Note this survey was completed prior to the onset of COVID-19, so that issue was not addressed in this survey. The purpose of the Survey was to examine mortality improvement practices with respect to life insurance and annuity pricing and financial projections in both the U.S. and Canada.

Description: In the second quarter of 2022, publicly traded life insurers reported some of their best financial results since the pandemic began. COVID-19-related claims fell sharply in many product categories. Sales, which had taken a big hit, showed significant improvement as well, though not always to pre-pandemic levels. Sales activity was enough, however, for industry executives to report confidently in their quarterly conference calls that in this regard the worst consequences of the pandemic are over.

Description: This article describes the increasing problems in the product filing and forms approval process under state regulation. It also describes the conclusions and product filing uniformity vision that includes the formation of CARFRA which stands for Coordinated Advertising, Rate and Form Review Authority.

Description: This article discusses the history of the small life insurance policies in light of the current NAIC investigation into the treatment of small face value life insurance policies.

Description: Feature article about the New York State Department of Financial Services (NYDFS) adopting its First Amendment to Regulation 213, Principle-Based Reserving (PBR) and the affects it will cause.

Description: The SOA has collaborated with LIMRA, Reinsurance Group of America (RGA), and TAI on an ongoing effort to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience. The data collected for this study included 2.8 million deaths from life insurance policies covering the period January 1, 2015 to September 30, 2020.

Description: The Reinsurance Section, Product Development Section and the Committee on Life Insurance Research are pleased to present results from a company practice survey of individual life insurance accelerated underwriting. Performed by a Milliman team led by Al Klein and Karen Rudolph, the study provides perspectives from both direct life insurance companies and reinsurers. Among the areas addressed include the structure of accelerated underwriting programs, how programs are monitored, how accelerated underwritten business is performing relative to expectations and how companies are considering accelerated underwriting cohorts in the context of VM-20 assumption setting.

Description: This is the accompanying spreadsheet for the 2001-02 U.S. Individual Life Persistency Update report. Please see the SOA website experience studies for the full report.

Description: The Marketing and Distribution Section initiated a multi-phase research effort to better understand the middle market for life insurance and to identify segments that would allow the industry to better target customer needs. Supported by the Committee on Life Insurance Research, Product Development and Reinsurance Sections, the Phase 1 study examining young families and identified three sub segments. This document are the questions used to identify the three market sub segments.

Description: Recommendation for a set of improvement factors to be used in conjunction with the 2008 Valuation Basic table or the 2015 Valuation Basic table