Description: This report is a summary based on current actuarial practices around the development and use of policyholder behavior assumptions including the use of dynamic modeling approaches. The research team surveyed and evaluated current practices in the industry; and highlighted current thinking on modeling human behaviors outside the life insurance industry. This project was sponsored by the SOA’s Financial Reporting Section and the Committee on Life Insurance Research.

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 one research examined young families between the ages of 25 and 40 with household income of $35K-$125K and who have individual life insurance or financial dependents. This summarizes the results of this study and is authored by Dr. Walter Zultowski of WZ Research + Consulting and Dr. Brian Perlman of Mathew Greenwald & Associates.

Description: This predictive modeling paper, “Household Life Insurance Demand – A Multivariate Two-Part Model is one of a collection of essays that examine how existing or new methods or models can be applied to the life insurance industry.

Description: An update of selected key graphs from the Key Statistics section of previous COVID-19 briefs.

Description: This paper explores how molecular biology, specifically epigenetics, may impact the life insurance industry, and considers the effects of utilizing epigenetic biomarkers for underwriting.

Description: Survey of post level term lapse and mortality assumptions for level term premium plans.

Description: Using recently updated data from the United States Mortality Database (USMDB, usa.mortality.org), this report presents an overview of historical mortality trends in all 50 U.S. states and the District of Columbia for the period 1959-2018.

Description: The purpose of this endeavor was to undertake a research project on term conversion experience with a particular focus on conversion rates and mortality experience of term to permanent converted policies.

Description: The global doubling of information content has been estimated to occur at a rate of every 12 hours, and conceivably faster. This ‘infowhelm’ is a double-edged sword for insurers. While maximization of the global knowledge base can fuel innovation, it can occur only in the context of reasonable cost for a higher benefit. The insurance industry – underwriters and actuaries in particular – are challenged to constantly examine new innovations that promise to raise confidence and protective value for insurability, within legal limits. This report aims to be the first of several to alert the SOA of promising innovations for the profession.

Description: Low Interest Rate Environment CFT Survey Form.