SOA Webinars

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Overview

The presenters in this classic session will explore protection and accumulation products as well discuss the current state of the hybrid Life/LTC market. They will also examine the latest trends and the challenges to innovation and highlight key factors impacting the product actuary including the impact of technology, regulation and competitive environment.

At the conclusion of the session, attendees will be able to:

• Understand the latest market trends in the Life insurance marketplace
• Understand how hybrid Life/LTC impacts the life insurance market
• Keep informed on recent regulatory changes impacting the product actuary

Country Relevance: USA

Experience Level: All

Agenda and Speakers

Session Sponsor: Product Development Section

Compentency: External Forces & Industry Knowledge

Moderator(s): Michael Anthony Cusumano, FSA, MAAA

Presenter(s): Jia Fei, FSA, MAAA; Ian Michael Laverty, FSA, MAAA; Parag S. Shah, FSA, MAAA

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Overview

Several key market trends have encouraged the development and launch of direct to consumer business models over the last few years. The presenters will look at the impact this is having on traditional business models and the potential it has to open up growth paths to target markets. They will cover several new entrants coming to market aiming to solve specific industry gaps and/or create new opportunities in distribution, risk assessment, customer engagement and the consumer buying experience.

At the conclusion of the session, attendees will be able to: ee the degree to which innovation in data and technology is transforming the industry and positioning it for new growth opportunities, for example in the health and wellness space. They will have a perspective on the need for the industry to embrace change and partner with players from within and outside the industry to succeed in a changing landscape.

Country Relevance: USA

Experience Level: Beginner

Agenda and Speakers

Session Sponsor: Product Development Section; Marketing and Distribution Section

Compentency: External Forces & Industry Knowledge

Moderator(s): Bruce Edward Fuller, FSA, MAAA

Presenter(s): Manisha Dias, FSA, CERA, FCIA; Christopher John Hessenius, FSA, CERA, MAAA; Jason M. Krasula

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Overview

The presenters will share information about:

Insights into causes of death through the use of predictive models, based on a reinsured U.S. life portfolio, using logistic regression models to understand three main causes of death: cancer, heart and external causes; Opioid abuse is a widespread phenomenon with drug-related mortality rates rising steeply in the U.S. over the past two decades. But what does the most recent data tell U.S. about the outlook for Opioid-related mortality?; Deaths of despair' have been publicized as a cause for the poor performance of U.S. mortality in recent years. The presenters will be looking at the different causes under this label, their evolution and explore the drivers behind them. At the conclusion of the session, attendees will be able to:

Gain insights in cause of death observations in the individual life insurance population and use case of predictive modeling for cause of death analysis understand opioid epidemic impact on mortality of different segments, and have an accurate understanding of the magnitude and drivers of the 'Deaths of dispair' issue.

Country Relevance: USA

Experience Level: Intermediate

Agenda and Speakers

Session Sponsor: Reinsurance Section

Compentency: Technical Skills & Analytical Problem Solving

Moderator(s): Nicholas Anthony Kocisak

Presenter(s): Jean-Marc Fix, FSA, MAAA; Donald Sampson; Anji Ines Li Zhao, FSA, CERA, MAAA

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Overview

The hybrid Life/LTC and Life / Chronic Illness market is an exciting market that is in its relative infancy. There are many new companies that have just entered, or are considering entering, the hybrid market. Hybrid sales have grown tremendously over the past decade and are still going strong, with annual premium revenue estimated to be above $4 billion per year. The young issue ages for these products, relative to when LTC benefits are paid, means that the claim experience in the industry for these products is still very limited. Additionally, there are many moving parts to these products that present correlated risks and assumptions. The new entrants to the market, limited experience, and the interactions of risks create an environment equipped for vibrant discussions on the product structure, risks, assumptions, and considerations for modeling these hybrid products. The presenters would provide insight into each of these topics through a conceptual discussion, supported by observational data from case study projections and sensitivities.

At the conclusion of this session, the attendees will have a more complete understanding of the integrated features of life/LTC and life / Chronic Illness products, the correlation of risks and assumptions, and have the tools that they need to model these products.

Country Relevance: USA

Experience Level: Beginner-Intermediate

Agenda and Speakers

Session Sponsor: Long Term Care Insurance Section

Compentency: Technical Skills & Analytical Problem Solving

Moderator(s): Sean M. Pena, FSA, MAAA

Presenter(s): Sean M. Pena, FSA, MAAA; Vincent L. Bodnar, ASA, MAAA; Allen J. Schmitz, FSA, MAAA