Future mortality improvement is an important assumption in the valuation of life insurance and annuities. In this session, presenters will discuss the work of the Mortality Improvement subgroup of the American Academy of Actuaries’ Life Experience Committee and the Society of Actuaries’ Preferred Mortality Oversight Group Valuation Basic Table Team in developing mortality improvement scales for AG-38 and VM-20. In addition, two recent SOA efforts on mortality improvement will be examined. Research on developing a broader framework for modeling mortality improvement assumptions is being developed to enable U.S. actuaries additional ways to follow a consistent approach across a variety of actuarial practice applications. Results from a study on U.S. population mortality by socioeconomic category and how it fits into the broader consistent framework will be presented. Additionally, results of a survey on mortality improvement practices of life insurance companies and reinsurers in Canada and the U.S. will be shared.
Larry N Stern FSA,MAAA (Moderator)
President; Canterbury Consulting LLC
Larry Stern is a sole practicing, reinsurance intermediary and consulting actuary located in Charlotte, NC. His company name is Canterbury Consulting, LLC. Larry has 50 years life insurance industry experience having worked for three different direct writers (last position Senior VP and Chief Actuary), a global consulting firm (Tillinghast; principle and practice leader for product development), a reinsurer (Scottish Re; EVP Financial Reinsurance Line of Business), and since 2002 President of his own company. He has dealt with all aspects of product/marketing strategies, reinsurance/risk management and capital issues throughout his career. Larry graduated with highest honors from Indiana University with a degree in life insurance, actuarial science from the Kelley School of Business. Larry is a past Chair of the SOA Nominating Committee, has served on several other section councils (Chairs of Product Development, Entrepreneurial Actuaries, and Reinsurance), written many articles for industry publications, and is a frequent speaker at industry meetings. Larry consults to the SOA Longevity Advisory Group.
Constance E Dewar FSA,FCIA
Managing Director; OSFI
Connie Dewar is Managing Director, Life Insurance Group at the Office of the Superintendent of Financial Institutions (OSFI) – Canada. She is responsible for overseeing the supervision of one of Canada’s conglomerate institutions. Prior to that she was responsible for managing the supervision of Canada’s non-conglomerate life insurance and reinsurance companies, including the insurance subsidiaries of the Canadian banks.Ms. Dewar has over thirty years of life insurance, life reinsurance and risk management experience. Prior to joining OSFI she served as Assistant Vice President, Insurance Risk Management at Sun Life where she was responsible for corporate oversight of reinsurance, product design, pricing and underwriting risk management policies, processes and measurement tools. Previously, she also worked in the reinsurance divisions of Clarica Life (as Reinsurance Vice President, Risk Management) and Sun Life Assurance (as Director, Life Reinsurance Pricing), where she was responsible for pricing and treaties.Ms. Dewar holds a Bachelor of Mathematics in Actuarial Science from the University of Waterloo and is Fellow of the Canadian Institute of Actuaries and a Fellow of the Society of Actuaries.
Marianne Purushotham, FSA, MAAA
Corporate Vice President, LIMRA
Marianne Purushotham, FSA, MAAA, is corporate vice president of LIMRA Research Data Services. She is responsible for LIMRA’s data analysis and statistical modeling functions including applications of predictive analytics to life and health insurance industry initiatives such as marketing, distribution, customer engagement and underwriting/new business. Purushotham manages LIMRA’s strategic research partnership with the Society of Actuaries (SOA), which includes studies of industry actuarial experience related to various insurance product lines. She is involved in several SOA and American Academy of Actuaries (AAA) industry groups, including the joint SOA/AAA Life Mortality Improvement Subgroup and the SOA Mortality and Longevity Steering Committee.During her 30 years in the insurance industry, Purushotham has worked in both insurer and consulting firm roles. Her areas of specialization included pricing and product development, valuation, financial reporting, assumption review, and experience analysis for life, annuity and health products.
Key:
Complete
Next
Failed
Available
Locked
Total Watching
1 Question
1 Question
To view the session, please answer the "Total Watching" survey to let us know how many people are watching with you and then click Enter Live Session (sessions will open 5 minutes before each session begins).
Webcast Session
09/01/2020 at 10:00 AM (EDT) | Recorded On: 09/10/2020
09/01/2020 at 10:00 AM (EDT) | Recorded On: 09/10/2020
Evaluation
Select the "Complete Evaluation" button to begin.
Select the "Complete Evaluation" button to begin.
Please complete the evaluation for this session.
