Description: This SOA research report produced by Kamakura Corporation helps illuminate credit risk modeling techniques within the life insurance industry. It includes a review of available research on the subject from academic and industry sources, the development and distribution of a survey on actual techniques used within the industry, and all associated analysis. The finance and economics literature review provides a historical review of academic research on credit modeling with Altman Z-scores, Merton’s structural model and more recent “reduced form models” The industry literature includes discussions of the various credit modeling techniques, factor-based approaches, credit migration models, structural models, reduced form models, hybrid models, actuarial models and credit scoring models. As credit risk modeling is an extremely broad topic, the scope of the survey is narrowed to particular asset classes and functions. There were 22 responses in total to the survey from locations in Canada, Europe and the United states.

Description: Survey results for 2009 produced by the Policyholder Behavior in the Tail Risk Management Section Working Group in which insurers were asked about assumptions used with respect to policyholder behavior in universal life policies with secondary guarantees.

Description: This research report, sponsored by the Society of Actuaries' Health Section, measures the annual frequency of medical errors in the United States and the total measurable cost to the United States economy of these errors.

Description: The purpose of this paper is to examine the underlying issues of replacement rates for the benefit of retirement security stakeholders, particularly public policy makers, pension plan sponsors, advisors, financial product providers, and individuals planning for retirement. Additionally, guidance is provided on building replacement rate measures. From the Society of Actuaries - 2011.

Description: This report, with linked reference material, provides information on the needs and opportunities of the older age market, and the implications of the public's perceptions of their retirement risks, to be used in the development and distribution of products that will protect future retirees from financial risk.

Description: This is the SOA website page that introduces the Experience Data Quality research report. The Life Insurance industry uses experience studies to manage and monitor their blocks of business. The purpose of this paper is to provide an overview of the data cleansing and validation role specific to the life insurance experience studies process.

Description: This research report examines the potential implications of the risk mitigation programs – risk adjustment, reinsurance, and risk corridors – established under The Patient Protection and Affordable Care Act.

Description: View the Fall 2018 Archive Syllabi.

Description: View the Archive Spring 2020: Design and Accounting Exam (Canada).

Description: Fall 2021 Archive Syllabi: Life Financial Management (Canada)