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2008 General Meeting Assemblée générale 2008 Toronto, Ontario

L’Institut canadien Des actuaires. Canadian Institute of Actuaries. IP-24: How’s research at the CIA? Speaker: Cathy Shum-Adams November 14, 2008. 2008 General Meeting Assemblée générale 2008 Toronto, Ontario. CIA Research Committee – Reporting Structure.

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2008 General Meeting Assemblée générale 2008 Toronto, Ontario

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  1. L’Institut canadien Des actuaires Canadian Institute of Actuaries IP-24: How’s research at the CIA? Speaker: Cathy Shum-Adams November 14, 2008 2008 General Meeting Assemblée générale 2008 Toronto, Ontario

  2. CIA Research Committee – Reporting Structure Member Services Committee Chair: S. McGaire Vice Chairperson: G. Walters Members: R. Bisson, J. Chambers, J. Dark, J. Lafrance, B. Langstroth, M-A. Melancon, C. Shum-Adams, C. Townsend, D. Lapointe

  3. CIA Research Committee – Experience Committees

  4. Annuitant Mortality Experience Subcommittee Objectives: To produce annuitant experience studies and to update draft annuitant mortality table. • 2001-04 annuitant experience study: 99% complete; target completion date early 2009. • 2005-07 annuitant experience study: the work has started on data collection.

  5. Group Life & Health Subcommittee • Don Blue will provide an update.

  6. Individual Life Subcommittee Objectives: To produce annual mortality experience studies, to update existing mortality table and to produce a lapse study. • 2004-2005 mortality experience study: target completion date for publication – early to mid December.  • 2005-2006 mortality experience study:  target completion date for publication – Spring, 2009. • 2006-2007 mortality experience study: data collection to begin in the fall. • Mortality table 1996-2002 – target completion date: mid-2009.

  7. Living Benefits Subcommittee on Experience Objective: To publish a first ever Canadian Critical Illness incidence rate table. • “Research Based” incidence rate table: target completion date - March 31, 2009 (maybe slightly delayed). • Next step is to collect data to generate industry experience and see how it compares to the rates so the tables can be refined.

  8. Pension Mortality Subcommittee Objective: To publish a first Canadian pensioner mortality table. “Tentative schedule” as follows: • Dec 2008-Jan 2009: issue request for proposal (RFP). • April 2009: review proposals and appoint researcher. • May 2009 to August 2010: study period. • Sept. 2010: study results available for review by committee.

  9. Segregated Fund Experience Subcommittee • Objectives: • Periodically collect and report on industry experience related to Segregated Fund Guarantee products. Should take a proactive role in advancing knowledge in evaluation of policyholder behaviour. • First industry experience study in Canada on policyholder lapsation. • Tentative schedule • Dec 08/Jan 09: Issue RFP • Mar 09: Review proposals and appoint researcher • Apr 09-Sep 09: Study period • Nov 09: Results available for review by committee

  10. Other Research Projects … • A budget has been assigned to these other projects: • PhD Applications Program; • Economic Statistics Study; • C-1 Risk Survey; • Task Force on Medicare;

  11. L’Institut canadien Des actuaires Canadian Institute of Actuaries IP-24: How’s research at the CIA? Speaker: Cathy Shum-Adams November 14, 2008 2008 General Meeting Assemblée générale 2008 Toronto, Ontario

  12. Other Research Committees in North America • SOA Committee on Life Insurance Research (CLIR) • North American Actuarial Council (NAAC) established a Research Subgroup

  13. SOA CLIR This committee initiates the development of technical studies and provides analyses to the membership with information that will be of utility and interest, particularly to actuaries specializing in the practice area of life insurance. Current projects underway: • Pandemic Influenza • Effect of Obesity on Morbidity and Mortality   • Data Quality Tools For Life Insurers  • Living to 100 Research Symposia  

  14. NAAC - Research Subgroup The Research Subgroup was established in collaboration with other North American Actuarial Associations. • The SOA, CAS, CCA, AAA, ASPPA and CIA (the Mexican organizations are welcome to join) The purpose of the Research Subgroup will be to: • share information about each organization’s research initiatives • promote collaboration • minimize duplication • identify research projects with a potential for public policy advocacy

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