Description: The baby boom generation continues to represent a tremendous opportunity for the financial services industry. Much of the industry attention is paid towards customers whose needs include wealth management, retirement, or wealth transfer/estate planning.However, there is a significant portion of that demographic that will require a solution that helps them with their final expenses (e.g. burial, credit card debt, medical bills, etc.). Currently, there is a good-sized market to service customers in this demographic representing $1.3 billion in new business premium in 2017 (according to LIMRA/LOMA). Steady growth is expected in this industry as there is a growing number of individuals who have not traditionally owned life insurance or can no longer afford premiums on existing products they may own. There are many different distribution strategies employed to reach customers in this market and each of them will be discussed during the session. Topics such as pre-need and guaranteed acceptance products will be included in this session. Underwriting approaches vary by carrier, as well, and this session will cover the pros and cons of each approach from both a new business point of view and the post-sale/rescission point of view.

Description: Full version of Small Talk Newsletter, June 2007, Issue No. 28.

Description: The outcome of NAIC proposals is shaped by those who participate.

Description: Introducing the Respresentative Scenarios Method, the Motivation and Goals, how the methodology works, and what key information can be derived.

Description: Building on the Part 1 article, Introduction to the Representative Scenarios Method, this article describes testing the methodology with respect to four product types, fixed indexed annuities with GLIBs, level term life insurance, universal life with secondary guarantees, and variable annuities with GLWBs. This Part 2 article describes testing results, refinements to the RSM methodology, and next steps.

Description: The article is Part 1 of two articles that provide a case study for the development of a profitability and risk dashboard. The sample dashboard provides distilled information regarding actual to expected (A/E) ratios for key risks, agent quality scores and customer value scores. The dashboard would also provide the value of new business written, surplus strain, debit balances, and expected losses on debit balances at different levels, down to the agent level. A product mix index is provided, together with visual comparisons of key metrics to the company's business plan. The Part 2 article will add information to the dashboard regarding risk margins, target capital, and company value.

Description: Presentation for Session 57.

Description: The Society of Actuaries Smaller Insurance Company Section, the Financial Reporting Section, and the Committee on Life Insurance Research are pleased to make available new research investigating simplified methods for determining reserves under VM-20.

Description: Examination of full surrender and benefit utilization industry experience for Variable Annuities with and without Guaranteed Lifetime Withdrawal Benefits. Part 1 of 3 articles focuses on full surrenders and building a dynamic surrender function using predictive modeling tools.

Description: Full version of Small Talk Newsletter, November 2007, Issue No. 29.