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Decks in this class (31)
Chapter 1: Life insurance products 1
Two types of life products,
Typical product lifecycle,
How can group business be set up
11
cards
Chapter 5: Health and Care insurance products - Income protection
Income protection ip,
The concept of ip is simple and a...,
The premiums can 3
10
cards
Chapter 6: Health and care insurance products - Critical Illness
Critical illness insurance,
Most critical insurance is provid...,
Needs met by a critical illness p...
10
cards
Chapter 8: Asset shares
The asset share of a policy 9,
The asset share in relation to su...,
Different uses for an asset share...
4
cards
Chapter 9: With-profits surplus distribution (1)
Three ways that profit can be dis...,
The key decisions for the company...,
Profit deferral
17
cards
Chapter 10: With-profits surplus distribution (2)
Revalorisation method,
Contribution method dividends,
Policyholder expectations are bui...
9
cards
Chapter 11: The general business environment 1
Outline the main distribution cha...,
What are the key risks to an insu...,
Describe insurance intermediaries 3
13
cards
Chapter 12: The general business environment 2
Overheads,
The main different expenses 4,
Effect of the economic environment
7
cards
Chapter 13: Risk 1
The risks attached to making assu...,
Risks faced by a life insurer 7,
Policy data
9
cards
Chapter 14: Risk 2
Risks faced by a life insurer 10,
The mix of business by nature and...,
The mix of business by source
13
cards
Chapter 15: Risk 3
Aggregation of risk,
Risk must also be assessed in rel...,
A downgrading is itself a risk to...
3
cards
Chapter 16: Unit Pricing
The basic equity principle,
Internal unit linked fund,
Management box
9
cards
Chapter 17: Actuarial funding
Describe actuarial funding,
Main reason for actuarial funding,
Actuarial funding considerations ...
6
cards
Chapter 18: Models (1)
Distinguishing models both by the...,
What are the requirements of mode...,
What are the basic features of li...
16
cards
Chapter 19: Models (2)
Need for models models can be use...,
Uses of models pricing,
Use of models the process pricing
16
cards
Chapter 20: Product design
Product design factors 12,
Profitability 2,
Marketability 4
12
cards
Chapter 21: Setting assumptions (1)
Methodology for setting assumptio...,
List assumptions needed 8,
The expected future experience of...
26
cards
Chapter 22: Setting assumptions (2)
Define liabilities,
Assumptions for public accounts,
Any published accounts may be sub...
10
cards
Chapter 23: Supervisory reserves and capital requirements 1
There are two fundamentally diffe...,
Typical uses for a realistic valu...,
The two primary reserving methods...
11
cards
Chapter 24: Supervisory reserves and capital requirements 2
The supervisory authority ensures...,
In theory what is the market cons...,
Market consistent approach how it...
14
cards
Chapter 25: Surrender values
Principles for surrender values s...,
Surrender value principles acrony...,
Unit linked surrender values
7
cards
Chapter 26: Alterations
Two considerations that might mak...,
In assessing an alteration method...,
Some examples of common alteratio...
24
cards
Chapter 27: Cost of guarantees and options
Implications for the insurance co...,
The liability created by an inves...,
The value of the investment guara...
12
cards
Chapter 29: Reinsurance (1)
Define reinsurance,
Define excess of loss reinsurance,
Coinsurance original terms reinsu...
15
cards
Chapter 30: Reinsurance (2)
Reasons for reinsuring 5,
Parameter risk,
Claim payout fluctuations the var...
17
cards
Chapter 31: Underwriting
The 3 steps in the underwriting p...,
The main purpose of underwriting ...,
The four main types of underwriti...
10
cards
Chapter 33: Investment
The principles of investment 3,
The principle of investment can b...,
The liability outgo consists of 3
7
cards
Chapter 34: Further risk management
Insurers should try to keep expen...,
To improve persistency the compan...,
Volume and mix can be controlled ...
7
cards
Chapter 32: Policy data checks
What will the actuary want to ens...,
Data check procedures 4,
Items of data for non unitised bu...
4
cards
Chapter 35: Monitoring experience
Experience will be monitored as p...,
What are some of the things that ...,
What are the data requirements fo...
20
cards
Acronyms
Alteration principles,
List of product types,
Regulatory restrictions
3
cards
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F102 Life Insurance Principles
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