The Impact of Different Screening Scenarios on Breast Cancer Incidence

The trend of cancer incidences is one of the key questions for developing critical illness (CI) and cancer insurance products with a sustainable price. One of the identified (risk) factors is the availability and/or introduction of screening programs for cancer, which will impact the level of detection of early cancers and can lead to strong increases in incidences. Among the common cancer screenings available, breast cancer is one of the key cancer types representing around 25% of all female cancer incidences.

Underwriting Issues & Innovation Seminar Presentations (SOA)

Presentations from the Underwriting Issues & Innovation Seminar held Aug 2-4, 2015 have been posted at the Society of Actuaries site.

Beyond Big Data (Contingencies)

Big Data. The term has become synonymous with strategy, innovation, sophistication, and the general advancement of using more information to improve decision-making.

Report on Life and Annuity Living Benefit Riders: Considerations for Insurers and Reinsurers

The Reinsurance Section, Product Development Section and the Committee on Life Insurance Research announce the release of a new report that investigates life and annuity living benefit riders and their implications from both a direct writer and a reinsurer perspective

Emerging Topic: Predictive Analytics (SOA)

Big data is an often talked about topic, which is also referred to as predictive analytics. Actuaries have a unique skillset to understand and harness the complexities of data and the insights that can be gained from predictive models.

Innovation and the Protection Gap

The life insurance protection gap remains an issue in the United States. Swiss Re research estimates the gap between the life coverage families should have for income protection, versus what they actually have, at $20 trillion in aggregate in 2010. This is up from $18 trillion in 2001 after adjusting for inflation. The average family has a gap of $378,000, up from $347,000.

Predictive Analytics Articles (SOA)

The Society of Actuaries is providing a selection of articles on the use of predictive modeling. Articles included in the PDF package:

  • Risk Segmentation: Application of Predictive Modeling in Life Underwriting
  • Predictive Modeling Techniques Applied to Quantifying Mortality Risk
  • Utilizing Frequent Itemsets to Model Highly Sparse Underwriting Data
  • Producing Actionable Insights from Predictive Models Built Upon Condensed Medical Records
  • Predicting Emergency Room Frequent Flyers

Genomes, Nanobots and Wearable tech: What’s Next Will Change Insurance Forever

It used to be impossible to price insurance based on your particular lifestyle, health or habits — but technology has given us the solution, at least for car insurance. How long before health and life insurance follow? The day is coming when the guesswork involved in evaluating factors regarding a consumer’s specific health risk is virtually eliminated.

Predictive Modeling for Life and P&C Insurance: Two Actuaries, Two Perspectives

David Wang is a life actuary with Milliman. He works extensively in the variable annuity area and has explored the application of predictive
modeling to life and annuity insurance. Peggy Brinkmann is a Property & Casualty (“P&C”) actuary with Milliman and has 20 years of experience in predictive modeling. David talked to Peggy recently about how predictive modeling is used in P&C insurance pricing to see what life actuaries can learn from our peers.

Evolving Strategies to Improve Inforce Post-Level Term Profitability (Scor Global Life)

A popular topic at industry meetings is how companies can best manage the post-level term (PLT) for level premium term life. Many of us started this discussion in our own companies a few years ago as the first wave of 10-year level term life policies were about to enter the PLT.

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