PPC Committees Release Discussion Brief on Augmented Mortality
PPC Committees Release Discussion Breach on Augmented Mortality
Members of the Pension, Multiemployer, and Public Plans Committees published a discussion brief intended to familiarize actuaries with commonly used approaches and considerations when dealing with augmented mortality assumptions.
Work Groups Submit LIBOR/SOFR Comment Letter to NAIC Life Actuarial (A) Task Force
The Academy’s Annuity Reserves and Capital Work Group, Variable Annuity Reserves and Capital Work Group, and Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on APF 2022-04 Swap Spreads and the transition from LIBOR to SOFR.
Life Experience Work Group Releases Discussion Brief on Inflation
The Academy’s Life Experience Committee released a discussion brief on the impacts of inflation, interest rates, stock market volatility, and potential recession on life insurance business.
Attendees learned from members of the Academy’s Risk Management and Financial Reporting Council and Life Practice Council about the changes in the current environment that are resulting in more and more complex securities on the balance sheets of life insurers, the types of risks that these assets bring, and approaches actuaries can use to quantify those risks.
DSAC Releases Issue Brief on Big Data in Actuarial Modeling
The Data Science and Analytics Committee (DSAC) released an issue brief, Big Data and Algorithms in Actuarial Modeling and Consumer Impacts. It outlines big data issues confronting actuaries and initiates discussion on how big data and artificial intelligence impact the consumer insurance experience, and covers how insurers and regulators can collaborate to resolve potential issues.
Committee Sends Issue Brief to NAIC Life Actuarial (A) Task Force
The Academy’s Life Experience Committee submitted a Discussion Brief to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force regarding COVID-19 in Life Insurance Mortality Improvement.