Trends in Paid Family and Medical Leave Coverage

Paid family and medical leave coverage represents one of the most rapidly growing segments of the group disability business. The design and management of these programs is a unique intersection of public and private insurance programs, and it poses a number of challenges and opportunities for insurance carriers. Plan design and pricing can be a challenges for this new type of coverage, with only modest amounts of experience data available, and this can be further complicated by state laws and regulations that mandate benefit provisions or even the level of premium rates. In addition, companies offering these benefits must design systems and staffing solutions to support a coverage that differs in important ways from existing short term disability plans. The speakers in this session provide an overview and update on recent activity in the paid family and medical leave space, along with sharing their thoughts on keys to success and potential pitfalls.

Paul Luis Correia FSA,CERA,MAAA

Paul Correia is a consulting actuary with the Portland, Maine office of Milliman. He has extensive experience in disability insurance, group life insurance, and absence management.

Brian N Dunham FSA,MAAA

Brian Dunham is Chief Actuary at ShelterPoint Life.  He is a 23 year veteran of the employee benefits insurance industry and has served in a variety of actuarial, finance officer, product development, and consulting roles.  His professional tenure includes time with CIGNA, the Hartford, Assurant, Anthem, UNUM, Liberty Mutual, and Ernst & Young.  At UNUM, Brian was Vice President and Finance Officer for their Large Case Group Life and Disability business; at Liberty Mutual, Brian was SVP, Chief Actuary and Product Officer for their Group Life and Disability business.  Brian is a graduate (BS Mathematical Sciences) of the University of North Carolina at Chapel Hill, and is a Fellow of the Society of Actuaries and Member of the American Academy of Actuaries.

Matthew Ryan Desfosses ASA,MAAA

Matt Desfosses is a Managing Director with Guy Carpenter & Company, LLC and leads The Smith Group operation which focuses on the Group Disability and Life markets.  Matt provides thought leadership to clients related to those industries as well as managing some of our client-specific relationships.  An actuary by trade, Matt is well versed in all aspects of the business, from Sales and Underwriting to Reserve Valuation.  Matt has also recently developed industry-leading expertise in the Paid Family and Medical leave products.

Matt has over 20 years of experience in Life and Health Insurance.  Before joining Guy Carpenter, Matt has been at The Hartford, Anthem, and Sun Life Financial. His expertise includes product development, pricing, corporate valuations, and underwriting.

He is active in the industry and frequently speaks at industry events and volunteers on various SOA project teams.

Matt is an Associate of the Society of Actuaries and a Member of the American Academy of Actuaries.  He holds a BS degree in Applied Actuarial Mathematics from Bryant University.

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09/15/2020 at 1:00 PM (EDT)  |  Recorded On: 09/15/2020
09/15/2020 at 1:00 PM (EDT)  |  Recorded On: 09/15/2020
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