Life insurance news and articles written by acturies for actuaries - read the latest research pieces, today's news and latest articles in the Life insurance market.

Life insurers fall in behind predictive modeling

By Matthew Edwards, Towers Watson

The use of predictive modelling techniques to refine the pricing of insurance risks has been standard practice in the P&C insurance sector for many years. However, life organisations have traditionally used simple one-way techniques and so, for many life insurance providers, predictive modelling techniques represent a new era of modelling. The aim of a predictive model is to derive a meaningful relationship between the modelled event (for instance, death or surrender) and various explanatory factors (for example, age, policy duration, or postcode group).

This provides enhanced understanding of the underlying risk drivers, and is a vital input in pricing business in competitive sectors – especially where competitors are pricing on a segmented basis (for example, pricing annuities according to postcode or fund size).

Traditional approaches have attempted to explain the modelled event using a very small number of explanatory variables. But they frequently fail to allow for the effect of correlations in the data, and this can often lead to material misunderstanding (and hence mispricing) of the relevant risks.

In response, many life insurers have recently started to use ‘multi-dimensional’ predictive...Read More

AE for Group Income Protection: Dutch Inspiration

In the second article of a landmark series to champion AE for GIP, Canada Life’s Paul Avis discusses with Editor Ellie Burns how we need to look to the success of the Netherlands, and how the Dutch model could be the answer to a stagnating product at risk of extinction, as well as the answer to a complex welfare system which is repeatedly missing the mark.

EB: In the first article you established that GIP was a product you were focused on as it is at risk of stagnating and extinction. Is AE for GIP really on the table?

PA: I feel like a lone voice, or perhaps I am a classic marketer who believes in product lifecycle-introduction, grow...Read More

Ever wondered how long Batman might live?

Name: Bruce Wayne
Age: 40
Occupation: Industrialist, Philanthropist, Superhero
Base of operation: Gotham city
Marital status: Single
Height: 6ft 2ins
Weight: 210 pounds
IQ: Thought to be in excess of 192 (Genius)
Personal wealth: Thought to around $6.8 billion
Eyes: Blue
Hair: Black

Other background info

An excellent tactician and strategist who is able to keep many steps ahead of his opponents. Accomplished gymnast and acrobatic and a master of many martial arts.

<...Read More

Run Financial Models in the Cloud with MoSes Azure

Latest World News

Sun, 01 Mar 2015 'I am not afraid,' Russians march in memory of murdered Putin critic
Sun, 01 Mar 2015 U.S.-Israel ties fraying over Netanyahu's planned Iran speech
Sun, 01 Mar 2015 Egypt parliamentary poll looks set for delay after court ruling
Sun, 01 Mar 2015 Ukraine military says rebels using truce to regroup
Sun, 01 Mar 2015 India's Modi passes budget test despite lack of reform dazzle
Sun, 01 Mar 2015 Italy to begin naval exercises off Libya

Lifestyle Actuary

The trappings of fast paced city lifestyles rarely take into account the charm and elegance that a room, a dinner or a cup of tea can afford; characteristics lost to a by-gone era of debutante balls and black tie for dinner.

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

Site Search

Exact   Any  

Latest Actuarial Jobs

Digital Magazine


Actuarial Post's Digital Magazine Issue 45

Looking Ahead Business Planning Under Solvency II

Click the image above to view. Click here to receive your future copies of our monthly magazine

Author Companies

Actuarial Jobs & News Feeds

Jobs RSS News RSS