2023 ImpACT Conference- VIRTUAL - Session 2B: Beyond Disclosure: How to Gain Understanding when LDTI Experience is Not as Expected 11.07.23 Recording

Long Duration Targeting Improvement's (LDTI's) roll-forward disclosure requirements include line items for the impact of actual variances from expected experience (A/E) for both net premiums and benefits. These aggregate A/E amounts provide some insight into how actual experience is emerging relative to expectations, but they do not provide insight into either the drivers of the deviations or their significance. Learn more about the various approaches being used for A/E attribution on life products. Then, for long-term care (LTC), one of the more challenging product lines, hear about an approach for attributing A/E to mortality, incidence, utilization, recovery and lapse on net premiums, benefits and benefit reserves. Finally, we will show how this approach can be used to assess the significance of the deviations on each item being attributed. By the end of the session, you will be able to describe the importance of attribution in understanding the drivers of emerging experience, how these impact LDTI results, approaches for performing those attributions and how the significance of deviations can be assessed. TRACK: Valuation (LTDI, IFRS 17, Tax, Statutory/ Regulatory, Etc.);Long Term Care