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Superseded investigations

In 2013, the CMI changed the structure of its investigations into the mortality experience of policyholders with assurances and annuitants of life offices, and the morbidity experience of critical illness policyholders

Life office mortality investigations - brief history

The life office mortality investigation is the longest running investigation of the CMI. The full history of the investigation is detailed in CMI Report 1. In November 2013 the CMI changed the structure of the life office mortality and critical illness investigations into annuitant mortality and assurances investigations: the latter focuses on both mortality and critical illness.

For information on the CMI's more recent work on life office mortality, please see the Annuities investigation and/or the Assurance investigation.

Data and methodology

The CMI’s life office mortality investigation collected what is termed “scheduled" data. That is, the data provided by contributing offices was in a census format containing the total numbers of policies (in force and deaths) split by age and duration. No policy specific details were requested from contributors. The analysis methodology is summarised in section 2 of CMI Working Paper 45.

Results

Contributing offices received results in respect of the business for which they have submitted data. Aggregate ‘All Office’ results are also produced.

Mortality tables

The '00' series base mortality tables were published in CMI Working Paper 21, CMI Working Paper 22 and CMI Report 23.

The '92' series base mortality tables and projections were published in CMI Report 17. An interim basis for adjusting the 92 series mortality projections was published in CMI Working Paper 1.

The '80' series base mortality tables and projections were published in CMI Report 10.

Earlier mortality tables were published in various printed volumes which are not available electronically.

Download all published CMI base mortality tables in Excel format.

Impaired assured lives investigation

Between the years 1982 and 2006, the CMI ran an investigation into the mortality of impaired assured lives. A report on the latest data and results, covering the years 1995 to 2006, is contained within CMI Working Paper 36.

Critical illness investigation - brief history

The CMI critical illness investigation started in 1999 with the first data collected in 2000. The first data collected pertained to claims settled during 1998 and 1999. The 1998 data was significantly lower in volume than subsequent years, so has not been analysed further.

In November 2013, the CMI changed the structure of the life office mortality and critical illness investigations into annuitant mortality and assurances investigations: the latter focuses on both mortality and critical illness.

For information on the CMI's more recent work on critical illness, please see the Assurances investigation.

Data, methodology and results

Data are collected for both ‘stand alone’ and ‘full accelerated’ (where the cover includes death as well as critical illness) business. 

In the early years of the investigation, critical illness data was collected annually from insurance companies on both policies in force and claims settled during an investigation year. The original analysis methodology is described in detail in CMI Working Paper 14. The results compared actual settled claims against expected diagnosed claims, calculated using CIBT93 (a population-based table which was originally contained in A Critical Review, presented to SIAS in 2000). These results have subsequently been referred to as ‘unadjusted results’.

In July 2008, a new methodology for analysing critical illness experience was presented in CMI Working Paper 33.  This produces results that compare actual settled claims with expected settled claims, referred to as ‘adjusted results’. These results properly match claims to exposure, but are difficult to interpret particularly in terms of duration.

A special initiative to capture 2007-2011 data was launched in 2012, allowing offices to submit data in a flexible format.  The data, methodology and results are all described in CMI Working Paper 75.

Critical illness diagnosis rate tables

The first set of insured lives accelerated critical illness diagnosis rates, based on 1999-2004 data, were presented in CMI Working Paper 43.

CMI Working Paper 50 updated these to 2003-2006 experience and formally presented tables of rates known as AC04. It is anticipated that these will be introduced as a comparison basis in future results.

CMI Working Paper 52 presented cause-specific diagnosis rates, again based on 2003-2006 data, and

CMI Working Paper 58 describes supplementary analyses designed to aid understanding of the AC04 Series rates.

Related documents

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

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