Experience Studies
Experience Studies in Individual Life
2007 CLICE Expense Study Data Request
The Committee on Life Insurance Company Expenses is currently seeking life insurance company data submissions
to the 2007 Individual Life and Annuity Expense Study. We strongly encourage your company's participation in
this study.
The Committee is working on its 2006 inter–company expenses study for individual life and annuity products
which will be posted on the SOA website as soon as possible.
The objective of the 2007 study is to continue this effort while expanding the level of contributions, to
potentially serve as a useful unit expense benchmark to pricing actuaries and their managements from which
to assess their own unit cost performance. In addition, the Committee expects the results to be useful in
improving the generation of the Generally Recognized Expense Table (GRET in the U.S.) used by some companies
to demonstrate compliance with the NAIC model sales illustration regulation. This study is intended to be
completed by U.S companies and U.S. operations of Canadian companies.
Below are links to the Data Submission Forms (Excel workbooks) as well as instructions for completing it.
Data should be submitted via the Excel workbook (see links below) and e–mailed to Jeanne Nallon, Research
Assistant. The deadline for submitting data is August 31, 2008.
- Data Submission
Form
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- Data Submission Form–UL A
separate workbook has been created for Universal Life business only. If feasible, please complete this
workbook with the unit and expense information applicable to Universal Life that is also included in the
Permanent Life category on the workbook entitled Data Submission Form–All Categories. The primary
workbook (Data Submission Form) should be completed as in previous years with all Permanent Life
information included. The Data Submission Form–UL should only include information related to Universal
Life.
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- Instructions for Completing Workbook
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- If your company intends to submit data, please indicate so by returning the Notice
of Intent form below to Jeanne Nallon by March 31, 2008.
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- Notice of Intent to Submit Data
Form
- Please do not hesitate to contact Steve Siegel, SOA
Research Actuary at 847.706.3578 if you have any questions or need further information.
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- Confidentiality
- All data submissions will be kept completely confidential. Society of
Actuaries staff will process the responses and no individual company data will be published. Where
comparative results are presented, no companies will be identified.
- Thank you in advance for your participation!
- Sincerely,
- Sam Gutterman
- Tim Harris
- Co–Chairs, Committee on Life Insurance Company Expenses
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