Description: The internal rate of return (IRR) for a policy is a single interest rate that discounts all policy cash flows back to the issue date of the policy, such that the sum of discounted cash flows equals zero. “Cash flows” include statutory income, taxes, required capital, and imputed interest on required capital. An insurer will often require thatproducts be priced to achieve a certain minimum IRR threshold.

Description: Letter from the Chair of the Product Development Council. Challenging times bring opportunities. Today's low interest environment is a rallying cry for our industry to transform our products and the way we do business

Description: This article discusses reaction to the requirement by the European Union for gender neutral pricing. One UK insuring is providing rates that are lower if you "Drive Like a Girl". The benefit to the consumer is lower rates as females tend to have better auto insurance experience as compared to males. Nothing is preventing males from applying for the coverage. However, it is clearly marketed to females as one can see from their branding materials. A black box attached behind the dashboard of the car monitors the driving (speed, acceleration, etc.) to confirm that they are indeed "Driving Like a Girl" as their insurance assumes.

Description: An interview with Joe Gilmour to share his views on the future innovations in underwriting that will help grow the individual life insurance business.

Description: Hot topics and emerging trends in assumption development in US life insurance companies

Description: This is a brief article from the current Chairperson of the Product Development Section Council. In this article, the chairperson notes the benefits of volunteering both within the actuarial community and at home in our local community.

Description: In this article, the author discusses discuss the use of the Cox Proportional Hazards Model in developing a predictive underwriting model that produces a mortality multiplier for each individual.

Description: Read the November 2016 issue of Product Matters! published by the Product Development Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article covers the importance of a system peer review within the systems change control process and offers suggestions for creating more robust controls.

Description: Key excerpts from research recently performed by Milliman consultants for the SOA on the impact of VM-20 on life insurance product development.