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.

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, growth, maturity, decline? We are at decline with no new employers and fewer every year buying GIP! AE has to be the answer as what else is?

Swiss Re’s 2013 Group Watch Survey advised: ‘The response remains split on the case for extending the AE model into simple products and specifically those used to protect income1.’ In the report one insurer commented: “No. We have a mandatory scheme in SSP. It’s a stretch too far at the moment – the focus should be on incentivising employers to provide GIP2.” An employee benefit consultant commented:

‘In theory it i...Read More

Ever wondered how long Batman might live?

Profile-
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

A General Procedure for Constructing Mortality Models

The general procedure for constructing mortality models is a new approach based on analysing mortality rates across the dimensions of age, period and year of birth. It uses a combination of statistical methods and expert judgement to identify sequentially every significant demographic feature in the data and give it a specific functional form. This means that it can be used to give a better understanding of the historic changes in mortality and therefore more reliable forecasts of future mortality rates.
 
Longevity risk is one of the key demographic risks faced by pension plans and life assurers. In recent years, ...Read More

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Latest World News

Sat, 25 Oct 2014 Modi takes tea, but no questions, in first press event as PM
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Sat, 25 Oct 2014 Coal mine accident in far west China kills 16 - Xinhua
Sat, 25 Oct 2014 China to shut factories during APEC to curb Beijing pollution - Xinhua
Sat, 25 Oct 2014 Two killed, four wounded in Washington state school shooting

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.

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