Actuarial Risks for Annuities - Considering Dynamic Policyholder BehaviorGuillaume Briere-Giroux
1. The document discusses predictive modeling techniques used to study policyholder behavior for annuity products and living benefits.
2. Predictive modeling allows analysis of multiple risk drivers simultaneously and requires less data to converge than traditional methods. It also enables testing how behavior changes over time.
3. For annuity guaranteed lifetime withdrawal benefits, integrated behavioral cohorts are used including "efficient", "partial", "excess", and "waiting" users. Assumptions need to consider lapse and utilization rates holistically.
4. Behavior modeling interacts with economic scenario modeling from simple to complex approaches. Pitfalls to avoid include not fully using data, ignoring key risk drivers, and not accounting for seasoning effects over time.
Oliver Wyman Indexed Annuity Risk Management Strategies - 2014 SOA Annual Mee...Guillaume Briere-Giroux
This document discusses indexed annuity risk management strategies. It notes that interest rate and credit risk are the primary risks for fixed indexed annuities, while lapse and benefit utilization are the primary insurance risks. It then covers different product design strategies, benefit rider strategies, and evolving asset-liability management and hedging strategies used by insurance carriers to balance multiple risk drivers and accounting constraints. The key takeaways are that fixed indexed annuities and variable annuities have distinct risk paradigms, new product features are becoming more complex, and hedging and ALM targets are multi-dimensional.
Oliver Wyman Annuity Product Development Trends - 2014 SOA Annual Meeting Exh...Guillaume Briere-Giroux
This document discusses trends in the fixed indexed annuity (FIA) market and products. It notes that FIA sales have grown at a 10% annual rate from 2007-2014. It also discusses trends toward volatility-controlled indices, liquidity features in annuity products, and enhanced lifetime income and death benefits. Hybrid or structured annuities that have features of both FIAs and variable annuities are also discussed as a growing part of the annuity market.
Oliver Wyman Modeling Managing and Pricing of Living Benefit Risks May 2014Guillaume Briere-Giroux
2014 Life and Annuity Symposium Session 83 / Virtual Broadcast: This presentation provides an industry overview of practices related to the modeling, pricing and risk management of living benefit risks and qualitatively positions FIA GLWBs (covered by co-speakers in more detail via a case study) relative to other living benefits.
This document summarizes a panel discussion on risk, controls, and governance of models. The panel included three experts: Mrinal Raghupathi from USAA, Nicholas Benoit from American National Insurance Company, and Guillaume Briere-Giroux from Oliver Wyman. The panel aimed to discuss model risk in an interactive format and provide resources on related standards and guidance.
Efficient Memory and Thread Management in Highly Parallel Java ApplicationsPhillip Koza
This presentation discusses strategies to estimate and control the memory use of multi-threaded java applications. It includes a quick overview of how the JVM uses memory, followed by techniques to estimate the memory usage of various types of objects during testing. This knowledge is then used as the basis for a runtime scheme to estimate and control the memory use of multiple threads. The final part of the presentation describes how to implement robust handling for unchecked exceptions, especially Out Of Memory (OOM) errors, and how to ensure threads stop properly when unexpected events occur.
Actuarial Risks for Annuities - Considering Dynamic Policyholder BehaviorGuillaume Briere-Giroux
1. The document discusses predictive modeling techniques used to study policyholder behavior for annuity products and living benefits.
2. Predictive modeling allows analysis of multiple risk drivers simultaneously and requires less data to converge than traditional methods. It also enables testing how behavior changes over time.
3. For annuity guaranteed lifetime withdrawal benefits, integrated behavioral cohorts are used including "efficient", "partial", "excess", and "waiting" users. Assumptions need to consider lapse and utilization rates holistically.
4. Behavior modeling interacts with economic scenario modeling from simple to complex approaches. Pitfalls to avoid include not fully using data, ignoring key risk drivers, and not accounting for seasoning effects over time.
Oliver Wyman Indexed Annuity Risk Management Strategies - 2014 SOA Annual Mee...Guillaume Briere-Giroux
This document discusses indexed annuity risk management strategies. It notes that interest rate and credit risk are the primary risks for fixed indexed annuities, while lapse and benefit utilization are the primary insurance risks. It then covers different product design strategies, benefit rider strategies, and evolving asset-liability management and hedging strategies used by insurance carriers to balance multiple risk drivers and accounting constraints. The key takeaways are that fixed indexed annuities and variable annuities have distinct risk paradigms, new product features are becoming more complex, and hedging and ALM targets are multi-dimensional.
Oliver Wyman Annuity Product Development Trends - 2014 SOA Annual Meeting Exh...Guillaume Briere-Giroux
This document discusses trends in the fixed indexed annuity (FIA) market and products. It notes that FIA sales have grown at a 10% annual rate from 2007-2014. It also discusses trends toward volatility-controlled indices, liquidity features in annuity products, and enhanced lifetime income and death benefits. Hybrid or structured annuities that have features of both FIAs and variable annuities are also discussed as a growing part of the annuity market.
Oliver Wyman Modeling Managing and Pricing of Living Benefit Risks May 2014Guillaume Briere-Giroux
2014 Life and Annuity Symposium Session 83 / Virtual Broadcast: This presentation provides an industry overview of practices related to the modeling, pricing and risk management of living benefit risks and qualitatively positions FIA GLWBs (covered by co-speakers in more detail via a case study) relative to other living benefits.
This document summarizes a panel discussion on risk, controls, and governance of models. The panel included three experts: Mrinal Raghupathi from USAA, Nicholas Benoit from American National Insurance Company, and Guillaume Briere-Giroux from Oliver Wyman. The panel aimed to discuss model risk in an interactive format and provide resources on related standards and guidance.
Efficient Memory and Thread Management in Highly Parallel Java ApplicationsPhillip Koza
This presentation discusses strategies to estimate and control the memory use of multi-threaded java applications. It includes a quick overview of how the JVM uses memory, followed by techniques to estimate the memory usage of various types of objects during testing. This knowledge is then used as the basis for a runtime scheme to estimate and control the memory use of multiple threads. The final part of the presentation describes how to implement robust handling for unchecked exceptions, especially Out Of Memory (OOM) errors, and how to ensure threads stop properly when unexpected events occur.
The document provides a curriculum vitae for Leslie Ellen Blood, an Associate Professor of Media Studies at Fort Lewis College in Durango, Colorado. It outlines her education, including a Ph.D. in Education from the University of Kansas, employment history as a professor and journalist, publications, presentations, courses taught, and professional service and development activities.
Richelle Rasmussen has over 20 years of experience in account management, project management, customer support, and contract administration. She has a proven track record of building and maintaining strong client relationships, ensuring compliance, and driving growth. Her skills include account management, organizational abilities, communication, and working independently to achieve high performance standards. She is currently a National Accounts Benefits Client Account Executive at ADP, where she manages benefits administration and COBRA compliance for several large national clients.
Mr. Mite Dojcinov has over 16 years of experience in the Macedonian military, including serving as a sergeant and deputy team leader. He has extensive training in weapons, tactics, security, and close protection. Currently he works as a maritime security team leader, overseeing security personnel and daily reporting. He is skilled in leadership, communication, and maintaining physical fitness.
Davendra Maharaj is the Call Center Manager at HealthypetsInc. His responsibilities include coordinating various departments, managing email addresses and software logins, training new employees, updating standard operating procedures, reviewing orders and customer service, assessing call center performance, and more. He oversees many aspects of the call center operations and acts as a liaison between different teams to ensure smooth functioning.
Maximizing Throughput and Reliability with Pipelined TasksPhillip Koza
How do you concurrently execute long running tasks that process a high volume of data or require complex processing? To achieve maximum throughput, you need to process these tasks as a series of cooperating, dependent stages, i.e. you need to pipeline your tasks. This session describes how to design and manage a thread pipeline that achieves maximum throughput, while avoiding the common pitfalls of cooperating threads: blocking, hanging, deadlock, etc.
The intended audience is Java technology developers who want to increase their application performance.
Key points:
• When and how to pipeline
• Starting and stopping pipeline stages
• Stage cooperation and communication
• Bulletproof handling for thread failures
This document analyzes and compares phone advertising by Apple and LG in America. It discusses the target audiences, products, advertising techniques used in sample commercials, and how those techniques relate to American culture. Apple targets a wide range of consumers and focuses on emotional appeals, repetition, and transferring qualities of popular activities to the iPhone experience. LG targets business people and emphasizes statistics and technical specifications to promote features. Both use common persuasive techniques but tailor their messaging differently based on their brands and target demographics.
This document outlines the various order statuses in a company's order management system. It describes what causes an order to be assigned each status and the general workflow. The main statuses are: Quote, Pending, Clearing, Backordered, Review, On Hold, Waiting, Held-to-Complete, Released, Backordered2, and Warehouse. The document provides details on each status, such as when a customer places an order, the order credit card is declined or approved, items are backordered or restocked, and when customer service representatives manually modify the order.
The document provides a curriculum vitae for Leslie Ellen Blood, an Associate Professor of Media Studies at Fort Lewis College in Durango, Colorado. It outlines her education, including a Ph.D. in Education from the University of Kansas, employment history as a professor and journalist, publications, presentations, courses taught, and professional service and development activities.
Richelle Rasmussen has over 20 years of experience in account management, project management, customer support, and contract administration. She has a proven track record of building and maintaining strong client relationships, ensuring compliance, and driving growth. Her skills include account management, organizational abilities, communication, and working independently to achieve high performance standards. She is currently a National Accounts Benefits Client Account Executive at ADP, where she manages benefits administration and COBRA compliance for several large national clients.
Mr. Mite Dojcinov has over 16 years of experience in the Macedonian military, including serving as a sergeant and deputy team leader. He has extensive training in weapons, tactics, security, and close protection. Currently he works as a maritime security team leader, overseeing security personnel and daily reporting. He is skilled in leadership, communication, and maintaining physical fitness.
Davendra Maharaj is the Call Center Manager at HealthypetsInc. His responsibilities include coordinating various departments, managing email addresses and software logins, training new employees, updating standard operating procedures, reviewing orders and customer service, assessing call center performance, and more. He oversees many aspects of the call center operations and acts as a liaison between different teams to ensure smooth functioning.
Maximizing Throughput and Reliability with Pipelined TasksPhillip Koza
How do you concurrently execute long running tasks that process a high volume of data or require complex processing? To achieve maximum throughput, you need to process these tasks as a series of cooperating, dependent stages, i.e. you need to pipeline your tasks. This session describes how to design and manage a thread pipeline that achieves maximum throughput, while avoiding the common pitfalls of cooperating threads: blocking, hanging, deadlock, etc.
The intended audience is Java technology developers who want to increase their application performance.
Key points:
• When and how to pipeline
• Starting and stopping pipeline stages
• Stage cooperation and communication
• Bulletproof handling for thread failures
This document analyzes and compares phone advertising by Apple and LG in America. It discusses the target audiences, products, advertising techniques used in sample commercials, and how those techniques relate to American culture. Apple targets a wide range of consumers and focuses on emotional appeals, repetition, and transferring qualities of popular activities to the iPhone experience. LG targets business people and emphasizes statistics and technical specifications to promote features. Both use common persuasive techniques but tailor their messaging differently based on their brands and target demographics.
This document outlines the various order statuses in a company's order management system. It describes what causes an order to be assigned each status and the general workflow. The main statuses are: Quote, Pending, Clearing, Backordered, Review, On Hold, Waiting, Held-to-Complete, Released, Backordered2, and Warehouse. The document provides details on each status, such as when a customer places an order, the order credit card is declined or approved, items are backordered or restocked, and when customer service representatives manually modify the order.