1. 2008 General Meeting Assemblée générale 2008 Toronto, Ontario 2008 General Meeting Assemblée générale 2008 Toronto, Ontario Canadian Institute of Actuaries Canadian Institute of Actuaries L’Institut canadien Des actuaires L’Institut canadien Des actuaires IP-24: How’s research at the CIA? Speaker: Cathy Shum-Adams November 14, 2008

2. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 CIA Research Committee – Reporting Structure CIA Board MSC Research Committee Various Experience Committees Member Services Committee Chair: S. McGaire Vice Chairperson: G. Walters Members: R. Bisson, J. Chambers, J. Dark, J. Lafrance, B. Langstroth, M-A. Melancon, C. Shum-Adams, C. Townsend, D. Lapointe

3. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Research Committee Marc-André Melançon, Cathy Shum-Adams Annuitant Mortality Experience Penny Teddiman Group Life & Health Peter Douglas Individual Life Lloyd Milani Living Benefits Experience Emile Elefteriadis Pension Mortality Ishmael Sharara Segregated Fund Experience Maxime Carrier CIA Research Committee – Experience Committees

4. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Annuitant Mortality Experience Subcommittee Objectives: To produce annuitant experience studies and to update draft annuitant mortality table. 2001-04 annuitant experience study: 99% complete; target completion date early 2009. 2005-07 annuitant experience study: the work has started on data collection.

5. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Group Life & Health Subcommittee Don Blue will provide an update.

6. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Individual Life Subcommittee Objectives: To produce annual mortality experience studies, to update existing mortality table and to produce a lapse study. 2004-2005 mortality experience study: target completion date for publication – early to mid December. 2005-2006 mortality experience study: target completion date for publication – Spring, 2009. 2006-2007 mortality experience study: data collection to begin in the fall. Mortality table 1996-2002 – target completion date: mid- 2009.

7. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Living Benefits Subcommittee on Experience Objective: To publish a first ever Canadian Critical Illness incidence rate table. “Research Based” incidence rate table: target completion date - March 31, 2009 (maybe slightly delayed). Next step is to collect data to generate industry experience and see how it compares to the rates so the tables can be refined.

8. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Pension Mortality Subcommittee Objective: To publish a first Canadian pensioner mortality table. “Tentative schedule” as follows: Dec 2008-Jan 2009: issue request for proposal (RFP). April 2009: review proposals and appoint researcher. May 2009 to August 2010: study period. Sept. 2010: study results available for review by committee.

9. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Segregated Fund Experience Subcommittee Objectives: Periodically collect and report on industry experience related to Segregated Fund Guarantee products. Should take a proactive role in advancing knowledge in evaluation of policyholder behaviour. First industry experience study in Canada on policyholder lapsation. Tentative schedule Dec 08/Jan 09: Issue RFP Mar 09: Review proposals and appoint researcher Apr 09-Sep 09: Study period Nov 09: Results available for review by committee

10. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Other Research Projects … A budget has been assigned to these other projects: –PhD Applications Program; –Economic Statistics Study; –C-1 Risk Survey; –Task Force on Medicare;

11. 2008 General Meeting Assemblée générale 2008 Toronto, Ontario 2008 General Meeting Assemblée générale 2008 Toronto, Ontario Canadian Institute of Actuaries Canadian Institute of Actuaries L’Institut canadien Des actuaires L’Institut canadien Des actuaires IP-24: How’s research at the CIA? Speaker: Cathy Shum-Adams November 14, 2008

12. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 Other Research Committees in North America SOA Committee on Life Insurance Research (CLIR) North American Actuarial Council (NAAC) established a Research Subgroup

13. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 SOA CLIR This committee initiates the development of technical studies and provides analyses to the membership with information that will be of utility and interest, particularly to actuaries specializing in the practice area of life insurance. Current projects underway: –Pandemic Influenza –Effect of Obesity on Morbidity and Mortality –Data Quality Tools For Life Insurers –Living to 100 Research Symposia

14. 2008 General Meeting Assemblée générale 2008 2008 General Meeting Assemblée générale 2008 NAAC - Research Subgroup The Research Subgroup was established in collaboration with other North American Actuarial Associations. –The SOA, CAS, CCA, AAA, ASPPA and CIA (the Mexican organizations are welcome to join) The purpose of the Research Subgroup will be to: a)share information about each organization’s research initiatives b)promote collaboration c)minimize duplication d)identify research projects with a potential for public policy advocacy