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Embracing the Future of Work: Innovating Insurance Products with an Abilities-Based Design

Fionna Kossmann, Sr. Global Claims Manager - Life & Health, Gen Re and Dr. Jonah Fox, Chief Medical Officer Global Claims, Gen Re

This presentation explores the changing world of work and how it is challenging us to rethink our insurance products and processes. We introduce the concept of an innovative abilities-based product idea and take you on a journey of how this might be implemented throughout the insurance value chain. We also cover some of the potential impacts of automation on mortality trends. It's an exciting and informative hour that will challenge your thinking and inspire you to embrace the future of work!

 

A Multivariate Approach to Pricing

Dewesh Kumar, Head of Analytics, Gen Re and Nathan Mecray, Actuary, Gen Re

This session explores some statistical techniques that enable a multivariate approach for insurance pricing. Viewers will gain insights into how these methods can help reshape traditional pricing methods and facilitate a shift from single variable experience analysis to more rigorous data-driven models capturing multidimensional relationships.

Key takeaways from the session areas follows:

  • Understanding basic statistical methods and a comparison to traditional Actuarial experience study analysis ( i.e., Actual to Expected analysis)
  • How pricing is influenced by concepts like interaction, correlation, and causality

Ageing and Mortality – Dying to Age Brilliantly

Dr. John O'Brien, Segment Chief Medical Officer

This webinar discusses different approaches to potentially slowing the ageing process, such as the pharmacological drug rapamycin, telomere length in DNA, or metabolism regulation by sirtuin enzymes – to name a few. Could we have more control over our ageing than we think? There are many promising targets for modulation of the ageing process.

The Future Impacts on Mortality

Beata Puls, Senior Actuary, Gen Re

Beata provided an overview of mortality and mortality improvement rates in the USA. She identified patterns in historical mortality trends and causes of death driving these patterns. The decomposition of mortality trends by causes of death benefits the understanding of past mortality trends and aids the practitioner in projecting mortality improvement rates. Beata also discussed a range of risk factors such as socioeconomic status that drive changes in mortality. Despite the direct impact of COVID-19 as well as the recent slowdown in mortality improvements rates across multiple countries there is continued improvement in most ages. When writing long-term guaranteed business the future impact on mortality needs to be assessed carefully considering causes of death and risk factors that drive changes in mortality.


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