Signs of transformation are evident across all aspects of life insurance. At SCOR, we are deeply invested in endeavors involving accelerated underwriting, point-of-sale distribution and, more recently, health and wellness platforms.
Innovation – around the industry and at SCOR – is equally evident in actuarial research underway to better understand mortality. New ways of using data and technology to model mortality experience make it possible to go beyond descriptions of the past and provide actionable insights about the future. Our pricing and R&D actuaries are working on various fronts to further our understanding.
In this issue of SCORviews…
- Tim Roy, R&D Actuary, shares the challenges and advantages of predictive modeling and the evolving role of actuaries involved in this work. He also shares findings from a recent cross-collaboration with our R&D centers in the US and Paris on mortality improvement by cause of death.
- R&D Actuary Aisling Bradfield and Statistician Sheenu Abraham give an update on policyholder behavior in a post level term (PLT) environment. The SCOR R&D team, under the direction of Mary Bahna-Nolan, is using advanced statistical and machine learning techniques to derive new insights on lapse and mortality experience on alternative PLT product structures.
- Pricing Actuary Stephen Cameron looks at the role of protective value studies in forecasting the degree of mortality cost savings from changes in underwriting evidence. Stephen looks specifically at a protective value study we conducted recently on the use of criminal history data sources in accelerated underwriting programs.
These are some of the things that SCOR actuaries are doing to better understand mortality experience and incorporate new tools and techniques to do so. We’ll be hearing much more from actuaries across the industry at this year’s Annual Meeting of the Society of Actuaries. Their work is vital to moving our industry into the future.
SCOR representatives are participating in several sessions at the Annual Meeting. We are especially pleased to sponsor the Women’s Leadership Session and Luncheon, our 12th year as sponsor and an especially good session.