Life and Health Insurance Companies
  • Valuation
  • Asset liability management
  • Cash flow testing
  • Traditional reinsurance arrangement valuations
  • Actuarial Guideline 38 compliance
  • Actuarial Guideline 48 compliance
  • Principle-Based Reserves
    • Development of assumptions and margins
    • Development and analysis of Deterministic Reserves and Stochastic Reserves
    • Ensuring that the financial reporting, and experience study and statistical agent reporting are in place so as to comply with VM-G, VM-30, VM-31, VM-50 and VM-51
  • Fulfill appointed actuary role under PBR
  • Model-based financial reporting approaches such as value-added, or similar internal management financial reporting, variance analysis and experience monitoring
  • Model building
  • Development of practical liability and asset models
  • Financial projections for planning
  • Cash flow testing
  • Actuarial appraisal
  • Model-based financial reporting
  • Computerized assembly of sub-models produced by any actuarial software to generate verifiable total company models, including financial items not readily handled by standard software packages, and in doing so, providing management with an effective tool for “what if” analysis and variance analysis
  • Product Analysis and Comparison
    • For insured products
    • For self-funded plans
    • Benefit analysis
    • Expense forecasting
    • Reserve evaluation and adequacy
  • Reinsurance Analysis
    • Conventional reinsurance
    • Financial reinsurance
    • Reinsurance for variable products
  • Federal Income Tax Issues
    • Company tax issues
    • Policyholder tax issues, including IRS §7702 definition of life insurance
  • Agency Structure and Compensation
    • Analysis of marketing strategies
    • Analysis of agency compensation structures
  • Products include:
    • Individual life and annuity, including pricing of PBR products
    • Individual accident & health
    • Group life and health
    • Preneed final expense insurance
    • Credit life and health
    • Variable products
  • Product design
  • Product pricing
  • Drafting of policy forms for legal review
  • Preparation and submission of actuarial memorandums and nonforfeiture documents for product filings for both states and IIPRC
  • Actuarial Guideline 49 compliance
  • Fulfill illustration actuary role
  • Product management/repricing
  • Preparation of rate filings for A&H products, including:
    • Long-Term Care
    • Cancer
    • Critical Illness
    • Medicare Supplement
    • Accident
  • Dividend scales
  • Development of actuarial appraisals of companies or blocks of business
  • Background reports
  • Review of appraisals done by other actuaries
  • Earning evaluation and corrective action recommendations
  • Developing all or parts of an enterprise risk management (ERM) framework for your organization, including:
    • risk identification;
    • risk classification;
    • risk appetite;
    • risk mitigation;
    • risk metrics;
    • stress testing and scenario analysis; and
    • own risk and solvency assessment (ORSA).
  • Reviewing an existing ERM framework for possible changes
  • Helping ensure the ERM framework is in line with business objectives
  • Assisting in the writing of an ORSA report to ensure it is appropriate to the nature, scale, and complexity of an organization’s risks.
  • Assistance with fulfilling the requirements of the new NAIC instructions and template for the Group Capital Calculation (GCC) including:
    • Providing thought leadership in interpreting the proposed GCC instructions
    • Assisting in the completion of the proposed GCC template to determine the resulting group capital ratio for your company
    • Education and training of staff regarding the GCC requirements
Regulators and Regulatory Support Organizations
  • Reserve/Liability examinations
  • Actuarial Guideline 38 compliance
  • Actuarial Guideline 48 compliance
  • Principle-Based Reserves
    • Review of Net Premium Reserve, Deterministic Exclusion Test and Stochastic Exclusion Test models for Term, Whole Life, No-Lapse Guarantee Universal Life, and Index Life products
    • Review of assumptions and margins
    • Review of Deterministic Reserves and Stochastic Reserves
    • Review of VM-G and VM-31 reporting
  • Targeted market conduct exams
  • Triennial/Quinquennial examinations
  • Required surplus analysis
  • Review of ORSA filings
  • Review of Life, Annuity, and Accident & Health product filings
  • Review of Accident & Health rate increases
  • Review of ACA-related filings
  • Review of new or proposed regulations
  • Credit Life and A&H Prima Facie rate development
  • Prepare or review of Life, Annuity, and Accident & Health product filings
  • Prepare or review of Accident & Health rate increases
  • Support of new and developing actuarial needs

National Regulatory Organizations

Industry Groups and Trade Associations
  • Contractual support of new and developing actuarial needs
Non-Traditional Actuarial Clients
  • Benefit design including limited benefits
  • Development of prices
  • Program valuation
  • Program shutdown analysis
  • Stochastic analysis
  • Legislative testimony
  • Analysis of alternative payout options
  • Development of strategies to deal with chronic defects
  • Financial and reserve audits
  • Meet expert testimony needs