From the RIIA Market Insight program and the Research Committee, a number of smaller working groups are developed for projects. The current groups include:
Lapse Rate User Group
The RMI program sponsors a study group to help annuity insurers evaluate their policyholders’ annuitization, withdrawals and lapse rates and quantify the risks associated with those behaviors.
The user group will have access to a predictive analytics program that simulate and evaluate different policyholder behaviors into the 5 to 10 year timeframe under different economic conditions at a granular household balance sheet, and household income/expense levels.
Health Care Working Group
The Health Care Working Group brings financial services firms, health care insurers and related health organizations together.
These collaborations go beyond one-on-one joint discussions or ventures structured around one financial services and one health care firm to a broad series of ways in which firms can work together.
By pooling our insights, we can devise powerful approaches and solutions to a range of emerging Boomer retiree health care issues and equip advisors to more completely address client needs. This health care working group is the forum for those discussions.
RIIA SPIAs User Group
This group is addressing barriers to Single Premium Immediate Annuity growth by identifying common platform standards and processes that hamper the product’s ability to be a core instrument in a financial advisor’s portfolio.
The committee first focused on developing the standards for showing a value for income annuities on client and firm statements, with several firms implementing that reporting in 2011.
For more information on these groups, their activity, or to participate, please contact Elvin Turner, 860-242-4878,