A Deadly Cocktail of Drinks, Drugs & Stress

Contributor: Maeve Fleming, Life Client Partner U.K. & Ireland, PartnerRe; Stuart Johnson, Head of Life Underwriting & Claims U.K. & Ireland, PartnerRe.
Date: 7/1/2010
Actuarial risk profiles are based on general population mortality statistics and insured population claims experience. Medical underwriting identifies risks that are consistent with those risk profiles and thus delivers an appropriate and correctly priced risk portfolio – but, it can only do that if it is fully capturing all the material risk factors. Our research from the U.K. life protection market shows that lifestyle risks are a major risk factor for the under 40's, but that these risks are not adequately captured by medical underwriting. A similar study in the U.S identified a similar problem. We present the results of our study and propose improvements that would help to resolve this discrepancy.
Tags: Europe, Life & health

A Stochastic Model for Longevity Risk

Contributor: Bridget Browne, Head Life Pricing & Solutions, PartnerRe; Juliette Duchassaing, Life Pricing Actuary, PartnerRe; Fabrice Suter, Life Pricing Actuary, PartnerRe
Date: 2/1/2010
A practical, robust model to assess mortality deviation and thus ensure adequate risk capital in line with solvency requirements
Tags: Life & health, Non-specific, Regulation

Preparing for the Unexpected

Contributor: Daniel Dubischar, Group Actuary Life, PartnerRe; Esther Schuetz, Team Leader COE Mortality, PartnerRe
Date: 10/20/2009
Life insurers routinely model the sensitivities of risk factors to the external environment. Extreme events represent an important new dimension that must also be factored-in. We look at some extreme events and ask what the life sector can do to prepare for the unexpected.
Tags: Life & health, Non-specific

Poised for Prominence in Life

Contributor: Joanna Atkin, Life Pricing Actuary for the UK & Ireland, PartnerRe, John O’Neill, Head Life Market UK & Ireland, PartnerRe
Date: 8/31/2009
Critical illness insurance is an important and appealing life protection cover, offering policyholders the comforting reassurance of an immediate lump sum payment on diagnosis of a defined critical illness or need to undergo a defined serious medical procedure. Mortgage related sales have been particularly well received.
Tags: Europe, Life & health

Lightening the Load

Contributor: Alexis Iglauer, Life Client Partner, PartnerRe
Date: 4/1/2007
Within a particular country, there are usually a large number of primary providers for annuity products and these products tend to be defined and shaped by the relevant legal and tax regime. This standardization makes comparisons fairly simple for the consumer and enhances the commodity nature of the product. While in some countries the state offers only a subsistence pension, in others a state or company pension will make up the bulk of a pensioner’s post-retirement income. Due to these differences, the extent to which longevity risk is spread between the public and private sector varies from country to country.
Tags: Europe, Life & health