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: 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: Provide high level summary of predictive modelling.

Description: Hear from the chairperson on themes in the June 2018 issue of Product Matters published by the Product Development Section.

Description: This article presents a discussion of Actuarial Guideline 54 (AG LIV), both the regulatory impetus in its creation as well as the requirements it outlines for a RILA contract to qualify as a variable annuity under the NAIC Variable Annuity Model law and thus be exempt from Fixed Annuity Non-Forfeiture Requirements. Includes an example calculation.

Description: February 2016 issue of Product Matters!

Description: In the June 2014 issue of Product Matters, Doug Robbins of Pacific Life authored a fascinating article entitled “Velocity of Diversification.” Therein, he proposed a pricing measure that describes the “…speed at which confidence in profitability is attained”. How can stochastic modeling of mortality be applied to analyze the velocity of diversification, and how would that measure be affected by volatility in the underlying assumptions?

Description: Read the March 2017 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: SECURE 2.0 included provisions that improve the ability of insurers to serve those who own qualified annuities. Several previously disallowed distribution methods are now allowed. These changes should increase the availability and desirability by contract owners to choose a payout annuity compared to required minimum distributions. An insurer considering enhancing qualified annuitization offerings might follow the approach outlined to potentially increase qualified annuitization sales and assist contract owners in protecting their principal more directly than previously.

Description: This article discusses sessions from the product development section post symposium seminar on product development - beginning to end. Sessions included product specific topics like term, universal life with secondary guarantees, and indexed products. Panel discussions included inforce management and advanced modeling issues.