Description: Discover an introduction to decomposing differences in life expectancy by age and cause of death. Take a look into demographic techniques that decompose life expectancies at birth and older ages into the portions contributed by later age groups and causes of death-. These have been in existence for some time and provide a convenient device for analyzing mortality change over time as well as differences between sexes, countries, and ethnic groups. The methods will be described and illustrated by spreadsheet examples.

Description: "Population Aging, Global Climate Change and Social Security – Sally Shen, Research Associate, Global Risk Institute, John A. Turner, Ph.D., Director, Pension PolicyClimate Change and Mortality Time for Actuaries to Pay Attention – Sam Gutterman. FSA, CERA, FCAS, FCA, HONFIA, MAAA"

Description: This session will examine bias from a social science perspective. It will discuss the three types of systemic biases using the National Institute of Standards and Technology (NIST) model. The NIST model details the three types as historical bias, societal bias, and institutionalbias. The session will also provide several examples of each type to provide a framework for identifying the social structure of bias.

Description: Behavioral science reveals that consumers tend to assess risk emotionally, through perceptions rather than calculations. So, will COVID-19 change risk perceptions in the long term -- and similarly increase life insurance sales? Insurers should take nothing for granted

Description: The problem and largest challenge with systemic risk identification and management is that high-risk activities and high-risk companies are often identified only with hindsight. This article identifies risk factors and proposes a framework for systemic risk management that can be applied in advance by regulators, company management, and other stakeholders

Description: This article presents the idea that a New Product Notebook, which contains all of the aspects of a product's development and is accessible to all involved, can make the product development process more efficient.

Description: The rapid evolution of life insurance underwriting has created pricing and operational challenges and raised new questions about established approaches to assumption development, both of which demand a fresh perspective. As underwriting methods evolve, we find ourselves navigating uncharted territory. In this session, we delve into accelerated underwriting, focusing on two critical areas. First, we explore assumption setting in this new world, where numerous interaction effects can make it feel like we’re asked to consider everything, from every angle, all at once. Considerations for assumption setting must encompass early performance indicators—what signals inform our assumptions? Additionally, we address novel underwriting approaches and how to adapt assumptions for these paradigms. Furthermore, in the context of post-COVID claims experience, we discuss distinguishing meaningful insights from noise. Second, we examine declinable risks and their impact on mortality. In this new world ushered in by accelerated underwriting, previously excluded risks—low-frequency, high-severity declinable cases—are now part of the landscape. Quantifying their mortality impact challenges us, as historical data lacks systematic tracking. To quantify declinable risks, we draw upon research findings from analyzing 27 million life insurance applicants, providing valuable insights for attendees to navigate this dynamic landscape and make informed assumptions for pricing and risk management.

Description: This article provides an alternative method to the computation of the Reduction in Benefits Test under 7702A. Part 1 provided for reduction in death benefits. Part 2 provides for reduction in Qualified Additional Benefits.

Description: There are growing concerns that the Asian bird flu virus will evolve into a form that can be transmitted from human to human, thus unleashing a new global flu pandemic. This article uses the Spanish flu epidemic and the German life insurance portfolio to analyze the additional claims expenditure due to a pandemic.

Description: Come discuss modeling costs and its governance, as well as introduce some platforms for more granular asset modeling.