Mark Dorfman Thirty-one years ago, Mark S. Dorfman (1972) concluded that workable competition did not exist in the market for life insurance products because of industry marketing practices that tended to exacerbate the insurance consumer’s ignorance and the problem of information asymmetry inherent in the industry. Utterances by both industry representatives and industry critics suggest…

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Game Theory 1968 – PRICES AND PROFITS, JOHN M. BRAGG, Society of Actuaries 1980 – APPLICATIONS OF GAME THEORY TO THE INSURANCE BUSINESS, Society of Actuaries – 4p 1991 –  AP – Cooperative Game Theory and its Insurance Applications, Jean Lemaire – 162p <Bonk: Have not read>

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Single Premium Life Insurance SPL – Single Premium Life SPWL – Single Premium Whole Life  1988 0315 – GOV (House) – Investment Uses of Life Insurance, Charles Rangel (D-NY) [PDF-257p-GooglePlay,  VIDEO-?] 1988 0325 – GOV (Senate) – Tax Treatment of Single-Premium Life Insurance, Max Baucus, (D-MT)  —  [BonkNote] LIRP – Life Insurance Retirement Plan In the…

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Consumerism I am not convinced that the consumer advocates,–David Swankin excepted– really know or speak for what the average consumer wants. I fear that in the dialogue between regulators, business and consumerists, what the general public really wants may be overlooked. —  William M. White, Connecticut General – Director of Government Regulations 1980 – SOA -…

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1996-1 Data Access Dr. Yager said he attended some of the NAIC computer sessions in Detroit and he found the NAIC databases to be fascinating but that he could not afford to pay the user fees required to access the databases, particularly the Common User Interface. Mr. Adkins said he would like access to the…

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1996-3 The group first considered a suggestion from Chris Kite (FIPSCO) for a new type of index that would allow consumers to compare the assumptions in the illustration. The group reviewed comments in favor of and opposed to the method described by Mr. Kite. Mr. Kite said his index has the advantage of prompting the…

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Historical Performance NAIC – IULISG – IUL Illustration Subgroup Some have suggested that historical experience should replace current scale as the basis for describing how the not guaranteed elements of the policy can operate. Substitution of historical performance for current scale would not solve many of the problems related to sales illustrations. Since it is…

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Barbara Lautzenheiser Some of our problems, however, have been caused by regulatory bodies.  —  Barbara J. Lautzenheiser 1981 – SOA – The Life Insurance Business — The View of Consumerists, (rsa81v7n38) – Daniel F. Case – Moderator, Society of Actuaries – 18p Barbara Lautzenheiser (Lautzenheiser and Associates) said that if the industry could have provided…

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Collaboration Q: Who Can Explain How Life Insurance Policies Work? naic.softlinkillumin.net/knowledgebase/#/home Life Insurance Illustrations Model Regulation Research – [link] Finding comment letters/discussion/attachments in Proceedings – [link] Model Regulation 582: Life Insurance Illustrations (Free Look) – [link] References in the Proceedings – [link] But nowhere has there been a serious, full dress attempt to re-define the modern American insurance transaction as…

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Sensitivity Analysis Mr. Nepple said that in his opinion a sensitivity analysis added confusion, but he did not see that it was essential for consumers to understand standardized assumptions. Mr. Nepple asked the group to consider further the issue of a sensitivity analysis. 1994-4, NAIC Proceedings

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