Description: Future mortality improvement is an important assumption in the valuation of life insurance. In this session, presenters will discuss the work of the Life Mortality Improvements Subgroup (LMISG) of the Society of Actuaries (SOA) Mortality and Longevity Oversight Advisory Council (MLOAC) developing mortality improvement scales for individual life insurance.

Description: In summer 2021, the SOA Research Institute’s Mortality and Longevity Strategic Research Program sponsored a webcast examining individual life and group life emerging mortality in a COVID-19 world. Since then, Delta and Omicron coronavirus variants have fueled waves of the virus in the U.S., boosting the total number of COVID-19 deaths since the beginning of the pandemic to near the 1 million mark. Hear an update and insights into how the life insured population is faring during COVID-19 by discussing the findings from two recent SOA Research Institute initiatives. LIMRA, Reinsurance Group of America (RGA), the Society of Actuaries (SOA) and TAI have collaborated to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience. Additionally, the SOA Research Institute has surveyed insurers to gather a high-level view of U.S. Group Term Life Insurance mortality results during the COVID-19 pandemic, comparing them to pre-pandemic mortality levels. The Group Term Life industry mortality results will be presented with monthly data through March 2022.

Description: The old adage 'insurance is sold not bought' has been used to dismiss digital insurance and support the old agent model of distribution. However, modern distribution systems address this with personalization. This is not simply a customized application form based on age or gender. Personalization is much more dynamic and happens in real-time. It's about tailoring the end-to-end experience to meet the needs and expectations of the specific applicant. The core tools to achieve this are AI learning and nudges from behavioral science.

Description: Many insurance companies have started Diversity, Equity, and Inclusion (DEI) initiatives over the past few years to better engage with their employees and communities in new ways. Explore another important audience of DEI programs: the customers who purchase insurance products. Review research on the unique needs of specific groups that may have been underserved by insurance companies in the past. You will also touch on ways to make the insurance buying process more accessible to everyone.

Description: Come discuss inforce management techniques that go beyond the traditional methods of adjusting non-guaranteed elements within contractual limits. Methods such as retention, cross-selling/up-selling, wellness, exchange programs and other customer behavior initiatives will be presented with relevant considerations.

Description: At the conclusion of the first part, attendees will be able to describe sources of reserve redundancy for products under Principle Based Reserve (PBR) and products under Commissioners' Annuity Reserve Valuation Method (CARVM). Such products include Term Life, Whole Life, Universal Life, and Fixed Annuity with and without rider. We will also review sources of capital redundancy from the C-1 factor under Risk-Based Capital (RBC) and assets such as Unrated Asset Credit Fund can have high C-1 factor even if its risks are limited. At the conclusion of the second part, the attendees will learn about potential Reserve Relief reinsurance solutions. Such solutions can provide Reserve Relief for annuity and term life businesses, as well as potential innovative asset-side solutions. Asset managers can structure assets that the C-1 factor aligned with the corresponding risk.

Description: This session will discuss what is meant by 'bias' and 'fairness', the regulatory environment, how to identify and mitigate bias in models, and proper oversight and governance of model building. The session will include a case study.

Description: Get an in-depth explanation on how data scientists and actuaries can work together to battle the issues arising from big data. Join our focus on the insurance industry as a whole and look at data scientists' and actuaries' roles from the views of different areas of the industry. We will also focus on how data science can be a valuable tool for actuaries. After the session, you will be able to understand: - How developments in data science are shaping Insurance Industry practices - How data scientists can help actuaries - How data science can be used to improve analysis of industry experience

Description: Come hear about the latest trends and insights as this panel discusses the happenings in life insurance marketplace. The panel plans to cover product, regulatory, underwriting, marketing, and other trends to help keep the audience up to date on many of Life's changing events.

Description: Pension risk transfer (PRT) involves two distinct disciplines of the actuarial profession, retirement and life insurance. This session is open to all but targeted to retirement actuaries looking to understand the considerations of how PRT is priced by life insurance actuaries and the nature of the risks that life insurers face. If you're a life insurance actuary, you will gain insight into how the retirement side views the PRT insurers, particularly in relation to safety.