III IC-92 case studies
III IC-92 · Put your knowledge to work in context.
IC-92, Actuarial Aspects of Product Development, is one of the professional examinations listed by the Insurance Institute of India (III) under its Professional Examinations menu, alongside subjects such as IC-01 Principles of Insurance, IC-83 Group Insurance & Retirement Benefit Schemes and IC-90 Human Resources Management. It is an English-language paper and appears in the Institute's study material listing as "IC-92-Acturial Aspects of Product Development (English)", which is the only official description the Institute's public page gives for it. The III IC-92 case studies are 5 cases and about 2,661 words.
1GMWB Rider Pricing With Thin Lapse Experience
A life insurer is preparing to file a single-premium variable annuity with a GMWB rider. The base contract has a 1.00% M&E charge and the rider adds a 0.90% guarantee fee.
586 words, about 3 min2Critical Illness Morbidity Review and New-Business Repricing
An insurer's critical illness (CI) product has been in force for six years. At pricing, the assumed incidence rate for a 45-year-old male non-smoker for the first cancer diagnosis was 2.8 per 1,000.
552 words, about 3 min3Participating Whole Life Dividend Scale in a Falling-Yield Environment
A mutual insurer's participating whole life block has 2.1 billion of reserves and 180 million of asset shares. The board is considering the 2025 dividend scale.
498 words, about 2 min4Group Income Protection Renewal With Mental-Health Claims
A group income protection (IP) policy covers 200 employees of a manufacturing firm. The annual premium is 180,000, experience-rated with a 70% experience refund and a three-year rate guarantee.
490 words, about 2 min5Inflation-Linked Immediate Annuity Design and Hedging
An insurer is designing a new inflation-linked immediate annuity for the retirement market. The product pays a monthly benefit that increases with CPI, with a 0% floor and a 5% annual cap.
535 words, about 3 min