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: 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: 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: An introduction to the Product Development Section's new subgroup supporting interested in the practice of in force management.

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

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings, including implementation trends, analysis to date and recent discussions and decisions on the treatment of non-guaranteed reinsurance.

Description: Issue 113 of Product Matters!.

Description: Identifies some key pitfalls in developing equity-indexed products and suggests some steps insurers can take to avoid unpleasant financial surprises.

Description: Product development is variously described as a science, an art, or a philosophy. Six Sigma suffers from the same ambiguity—it is a statistical measure, a business philosophy, a process, a methodology, and a way of living! But by combining the two, we are able to apply structure to creativity and enable product success

Description: discussion of arbitrage possibilities cause by inconsistent mortality pricing assumptions in annuity products vis. a vis. life insurance products