Better Research.
Better Policy.
At the intersection of data and decision-making, actuarial research plays a pivotal role in shaping effective public policy.
Explore the latest research studies from the Academy’s cross-practice committee to discover how cutting-edge actuarial insights are transforming policy landscapes and paving the way for a smarter, more resilient future.
Featured Research Papers
Research Paper
The Probability of Default Model for Insurance Companies in the United States of America, Canada, and France.
In the fall of 2022, the Academy commissioned Prof. Jin-Chuan Duan and his team at the National University of Singapore’s Credit Research Initiative (NUS-CRI) to produce estimates of the…
Topics: Scalars
Date Published: 11/24/2022
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Comment / Letter
RESEARCH REPORT on Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) and National Association of Insurance Commissioners (NAIC) Climate Risk Disclosure Survey Responses Compared Qualitatively and Quantitatively: Eight Companies in 2019—Twenty-four Companies in 2020
Climate Related Financial Disclosures Work Group report submitted to the NAIC’s Climate and Resiliency (EX) Task Force. This accompanies a comment letter from the Academy’s Climate Change Joint…Date Published: 01/10/2022
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Research Paper
Aggregating Regulatory Capital Requirements across Jurisdictions: Theoretical and Practical Considerations
Academy President-Elect Maryellen Coggins and Steve Jackson, assistant director for research (public policy), presented Sept. 13 at the Virtual Casualty Loss Reserve Seminar and Workshops (CLRS), on…Date Published: 04/01/2021
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Research Paper
Climate Risk Financial Disclosure Analysis
ERM/ORSA Climate Related Financial Disclosures (CRFD) Work Group update to the NAIC Climate Risk and Resiliency (EX) Task Force on the Climate Risk Disclosures Survey Analysis project.Date Published: 01/27/2021
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Public Policy Research by Practice Area
Casualty
Presentation
Academy Gives Overview of Climate Work to German Actuarial Association
Director of Research (Public Policy) Steve Jackson and Peter Ott, chairperson of the ACI/ACRI (Actuaries Climate Index / Actuaries Climate Research Index) Working Group and a vice chairperson of the…Date Published: 03/14/2024
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Research Paper
Cyber Breach Reporting Requirements
States have moved to develop their own laws given there is a lack of federal regulation of notice requirements to consumers in the event of cyber breaches. The purpose of this paper is to provide a…Date Published: 11/04/2020
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Research Paper
Actuaries Climate Risk Index: Preliminary Findings
As part of its continuing public policy research program providing objective and independent information based on actuarial analysis, the American Academy of Actuaries today introduced the first…Date Published: 01/01/2020
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Research Paper
Schedule P, Foreign Exchange and Intercompany Quotashare Pools: Results from a Survey of Casualty Insurance Companies
The Academy’s Committee on Property and Liability Financial Reporting identified two issues which might be producing inconsistent reporting on Schedule P, based on a lack of clear direction. One…Date Published: 01/19/2018
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Health
Research Paper
Estimating the Potential Health Care Savings of Reference Pricing
Academy research study, Estimating the Potential Health Care Savings of Reference Pricing, exploring the possibility of using reference pricing to address health care costs, and building upon…Date Published: 11/01/2018
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Life
Research Paper
Committees Release White Paper on Hedging & Risk Management
The Risk Management and Financial Reporting Council’s (RMFRC) Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s Life GAAP Reporting Committee released a white…Date Published: 11/18/2024
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Research Paper
Asset Adequacy Testing Considerations for Year-End 2020
The Life Practice Council’s Asset Adequacy Testing Task Force’s (AATTF) discussion paper titled, Asset Adequacy Testing Considerations for Year-End 2020.Date Published: 12/01/2020
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Research Paper
PBR: Reserve Credits for YRT Reinsurance: The Range of Interpretations of Three Amendment Proposal Forms (APFs), A Survey of Companies
As PBR is implemented, the NAIC is monitoring the PBR Actuarial Reports filed by insurers for evidence of problems that might require changes to the Valuation Manual. In its 2017 reviews of Life PBR…Date Published: 09/18/2020
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Research Paper
PBR: Reserve Credits for YRT Reinsurance A Field Test of Three Amendment Proposal Forms (APFs), Time Zero and Projected Reserves
With the introduction of principle-based reserving (PBR) by the National Association of Insurance Commissioners (NAIC), insurers are required to hold the higher of (a) formulaic reserves based on…Date Published: 05/08/2020
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Research Paper
Long-term Care (LTC) Combination Product Valuation Practice Note
Work Group Long-Term Care Combination Product Valuation Practice Note to provide information to actuaries on current and emerging practices in which their peers are engaged with respect to the…
Topics: Long-Term Care
Date Published: 07/01/2019
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Research Paper
Reserve Estimates under Longevity Stress: Results from a Survey of Life Insurance Companies
Longevity Risk Task Force update to Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting.Date Published: 08/29/2018
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Comment / Letter
Reserving for LTC Combo Riders: Results from a Survey of Life Insurance Companies
The Long-Term Care Combination Product Valuation Work Group updated the Long-Term Care (LTC) Actuarial Working Group of the National Association of Insurance Commissioners on the LTC Combination…Date Published: 11/10/2017
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Retirement
Research Paper
Age and Wisdom: Retirement Readiness in the U.S., U.K. and Australia
In 2015, the American Academy of Actuaries, the Australian Actuaries Institute and the Institute and Faculty of Actuaries in the United Kingdom identified longevity risk-the risk of outliving one’s…
Topics: Retirement
Date Published: 04/01/2019
Research Paper
Retirement Readiness: A Comparative Analysis of Australia, the United Kingdom & the United States
The Academy, the Institute and Faculty of Actuaries (U.K.), and the Actuaries Institute of Australia today published Retirement Readiness: A Comparative Analysis of Australia, the United Kingdom,…
Topics: Retirement
Date Published: 10/01/2017
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Risk Management & Financial Reporting
Research Paper
Committees Release White Paper on Hedging & Risk Management
The Risk Management and Financial Reporting Council’s (RMFRC) Financial Reporting Committee, ERM/ORSA Committee, and the Life Practice Council’s Life GAAP Reporting Committee released a white…Date Published: 11/18/2024
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Research Paper
Discussion of Scalars in Reference to the US Developed Aggregation Method for Calculating Group Capital for Internationally Active Insurance Groups
This report outlines the purpose of scalars in the context of AM and considers various technical approaches for determining scalars. These approaches are further analyzed based on criteria to assess…Date Published: 02/26/2024
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Comment / Letter
RESEARCH REPORT on Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) and National Association of Insurance Commissioners (NAIC) Climate Risk Disclosure Survey Responses Compared Qualitatively and Quantitatively: Eight Companies in 2019—Twenty-four Companies in 2020
Climate Related Financial Disclosures Work Group report submitted to the NAIC’s Climate and Resiliency (EX) Task Force. This accompanies a comment letter from the Academy’s Climate Change Joint…Date Published: 01/10/2022
Download
Research Paper
Aggregating Regulatory Capital Requirements across Jurisdictions: Theoretical and Practical Considerations
Academy President-Elect Maryellen Coggins and Steve Jackson, assistant director for research (public policy), presented Sept. 13 at the Virtual Casualty Loss Reserve Seminar and Workshops (CLRS), on…Date Published: 04/01/2021
Download
Research Paper
Climate Risk Financial Disclosure Analysis
ERM/ORSA Climate Related Financial Disclosures (CRFD) Work Group update to the NAIC Climate Risk and Resiliency (EX) Task Force on the Climate Risk Disclosures Survey Analysis project.Date Published: 01/27/2021
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Research Paper
Climate Risk Disclosure Survey Analysis
The Risk Management and Financial Reporting Council’s Climate Related Financial Disclosures (CRFD) Work Group Chair, Michelle Young, and the Academy’s Assistant Director for Research, Steve Jackson,…Date Published: 12/04/2020
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