Insurers Ponder Product Design Amid New Reserve/Mortality Regs

January 15, 2020 by John Hilton

The new year brought the culmination of a long, technical, behind-the-scenes effort to update insurers’ reserving processes and mortality tables.

On Jan. 1, the 2017 Principle-Based Reserving and Commissioners Standard Ordinary Table both took effect. Insurers had three years to meet the new standards, but some were certainly more prepared than others, one actuarial expert said.

While the changes are of the technical variety being done on the actuarial side of the business, the impact could trickle down to the product variety and availability, said Tim Pfeifer, a 35-year veteran of financial services and president of Pfeifer Advisory.

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Originally Posted at InsuranceNewsNet on January 10, 2020 by John Hilton.