John Skar

  • John R. Skar, Fidelity Mutual
  • Society of Actuaries Task Force for Research on Life Insurance Sales Illustrations under the auspices of the Committee for Research on Social Concerns
    • 1991-1992 - SOA - Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries - 142p
      • Appendix II - Illustration Examples
      • *Opinions expressed herein are those of the Task Force for Research on Life Insurance Sales illustrations and of the Committee for Research on Social Concerns. This report does not purport to represent the views of the Society of Actuaries or of its Board of Governors.
  • As we began researching this problem, two questions became central.
    • What criteria should we use to evaluate suggested changes and alternatives?
    • What is the root cause of current problems, and why have previous corrective efforts been so unsuccessful?
  • As research continued, at some point we started to focus on the uses of life policy illustrations.
    • This proved to be a key concept in addressing those two major questions.
    • First, let's list the major user groups: (1) consumers, (2) agents and brokers, (3) life companies, and (4) third-party analysts.
      • We are all familiar with the first three groups.
      • The third-party analyst is a more recent phenomenon and could be a CPA, consulting...."

--  John R. Skar, Fidelity Mutual

1991 - SOA - Illustrations, Society of Actuaries - 20p

  • Another issue mentioned was actuarial integrity or ethics. --  It might help to use an analogy.
  • Trying to assess the relative aggressiveness or integrity of illustrations is similar to determining whether people on a highway are driving at a reasonable and proper speed.
    • Driving between 50 and 70 miles per hour may be reasonable and proper, but there is still quite a difference in speed.
    • They will arrive at their destination at very different times.
  • Applying this example to illustrations, we can construct them with integrity and still not have something meaningful for Type B purposes, because there will always be too much variation in what is reasonable and proper.

--  John R. Skar, Fidelity Mutual

1991 - SOA - Illustrations, Society of Actuaries - 20p