Description: Panelists from the home-based care industry will discuss the latest technology and services that enable and prolong the receipt of formal and informal care at home for the elderly and delay transitions to care facilities.

Description: General Session VI

Description: Since the last installment of the biennial WTW North America Life Insurance Pricing Methodology Survey in 2018, the market has been coming to terms with the prospect of “lower for even longer” interest rates and been confronted with the economic and social impacts of the COVID-19 pandemic. This article examines what effects these and market-specific factors have had on profit targets and pricing and reserving strategy. The survey looked at the profit objectives and assumptions used in pricing 2020 new issues of individual life and annuity products, with a focus on past practices, not future plans.

Description: A discussion on technology improvements in establishing compliance with sections 7702 and 7702A. The Internal Revenue Code defines life insurance using actuarial tests that limit the investment in a life insurance contract as compared to the death benefit. Inadvertant failures of the actuarial tests can be uncovered by testing in order to enable remediation.

Description: This session on Innovations in Underwriting will explore the latest advancements in underwriting technology and methodologies. It will focus on how these innovations are transforming the insurance industry, making underwriting processes more efficient, accurate, and customer-friendly. Topics will include the integration of artificial intelligence (AI), machine learning, and big data analytics into underwriting workflows. Additionally, we'll discuss emerging trends in risk assessment, automation of underwriting tasks, and the implications of these changes for underwriters and insurance professionals. Attendees will have the opportunity to learn from industry experts and participate in discussions on how these innovations are reshaping traditional underwriting practices. Learning Outcomes: - Gain an understanding of the latest technological advancements impacting underwriting, including AI, machine learning, and data analytics. - Learn how these innovations can streamline underwriting and pricing processes, improve accuracy, and reduce costs. - Explore new risk assessment methods and discover how automation is changing the underwriter's role. - Identify best practices for integrating innovative technologies into existing underwriting and actuarial pricing frameworks.

Description: Behavioral Science is a powerful tool to enhance customer experience and improve outcomes across the life insurance value chain. This session will cover the foundations of behavioral concepts in a life insurance context and discuss practical areas that can benefit from behavioral science including customer engagement, disclosure, and retention. The session will leverage recent SOA research and specific experience in communication campaigns and call center best practices to translate theory to quantified results. Attendees will leave with an appreciation for potential challenges and practical steps to measure and demonstrate the value of implementing behavioral science.

Description: Now that small television screens are available on gas pumps, this article explores whether this is a good advertising medium for insurance.

Description: The paper describes a cost-benefit analysis to determine the value of electronic health records (EHRs) in life insurance accelerated underwriting programs. Sample cases from a carrier were underwritten pre-EHR and post-EHR and the mortality savings estimates from risk class changes using EHRs was compared to procurement costs. Results were developed to cover a range of scenarios. Factors to consider for carriers evaluating the cost-effectiveness of using EHRs in their own accelerated underwriting programs are also described.

Description: This report summarizes the results of a 2022 survey examining mortality improvement practices of life and annuity companies in the U.S. and Canada.