Description: Review of modeling of impact of proposed GAAP changes and commentary on preparedness based on company survey.

Description: Learn various ways that actuaries are an making an impact on social issues such as healthcare, public health and climate change. Do you ever wonder if the actuarial profession is doing more than making bottom line revenue for its employers? Hear directly from multiple actuaries who are following their vocation by utilizing their actuarial skills to address real societal issues.

Description: Full version of International Section News, April 2007, Issue No. 41.

Description: A research project with the Society of Actuaries on interest rate hedging on traditional life and health insurance.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: The last few years have seen a dramatic change in the way that insurance products are priced. If we traveled back in time 15 to 20 years, we would see a world where most insurance products were priced on the basis of a few static scenarios. In the last several years, pricing on a stochastic basis has become more mainstream—at least for contracts with embedded guarantees.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: The Society of Actuaries is making a commitment to focus on diversity and inclusion in the profession, including the creation of a standing SOA Inclusion and Diversity Committee.

Description: This article outlines the results of the appointed actuaries survey to gather information on current practices related to asset adequacy analysis performed in 2008 by the Financial Reporting Section Council.

Description: Letter from SOA President Craig Reynolds to American Academy of Actuaries Congratulating on 50th Anniversary