Black Box

  • 1996 - SOA - The Actuary, The Actuarial Black Box, by Sam Gutterman, Society of Actuaries - 2p 
  • 2009 0305 - WSJ - AIG's Black Box The fourth rescue is not a charm, by Author-? - [link]
  • What UL does, among other things, is to let the policyowner or maybe the agent pick the point on the line between these two promises-- pick the point that best fits the situation that the agent or the policyowner is in.
    • He can have a high premium policy with lots of dividends if experience does remain good
    • or he can pay a very low premium but have a big risk of increasing the premium if experience does not turn out so well.
    • One thing this ability does, it opens up the traditional 3-factor dividend formula, the black box, so that some of the workings are exposed.
      • That is the good side, the opening up of the black box.

-- Bruce E. Booker

1988 - SOA - Update on Universal Life Reserves and Non-Forfeiture Values, Society of Actuaries - 36p

  • A. The Black Box of Life Insurance
    • 6. Life insurance contracts are circular, interrelated series of cash flows into, out of, and within a policy.
    • There are innumerable ways to establish these cash flows...

--  Declaration of Robert E. Wilcox  in Opposition to Plaintiff's Motion for Class Certification - Former Utah Insurance Commissioner and Chairman of the Life Disclosure Working Group (NAIC)

2012 0313 - LC - Thao v Midland, United States District Court Eastern District of Wisconsin, 2:09-C-1158-LA, Filed 02/11/11, Page 1 of 44