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Superseded investigations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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  • SIAS Event: CMI Update

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    1 April 2020

    Spaces available

    We are sorry. This event has now been cancelled.

    Following the release of the updated CMI Mortality Projection Model, CMI_2019, the CMI Mortality Projections Committee will lead a discussion on future mortality improvements.

  • Spaces available

    In the webinar, Stuart Hitchcock, Head of Portfolio Management for Private Credit, within LGIM Real Assets, will provide some insight into the nature of the private credit markets. Discussion will evolve around development of the markets and lending landscape, key investment characteristics including structural and legal protections, public vs private investments, advantages and drawbacks for borrowers, and attractiveness for investors.

    The webinar will also focus on describing the investment process such as origination through execution, credit, structure, pricing, on-going asset management, portfolio construction within private markets.

  • Current Issues in General Insurance (CIGI) 2020

    Hilton London Tower Bridge, 5 More London Riverside, Tooley St, London SE1 2BY
    22 April 2020

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    CIGI is a well-established one-day seminar designed to increase awareness and encourage discussion on a variety of topical issues across the general insurance industry. 

    There will be an excellent and diverse line-up of speakers to provide a variety of perspectives and challenge covering technical and professional areas. 

  • Professional Skills Training - Edinburgh (29 April 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    29 April 2020

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    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - London (29 April 2020)

    Staple Inn, High Holborn, London WC1V 7QJ         
    29 April 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • CANCELLED The Global Actuarial Profession

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    30 April 2020

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    We are sorry that this event has been cancelled.

    The IFoA's policy regarding COVID-19 is designed to safeguard the well-being of members and employees. As stated within the policy, the IFoA is reviewing its events programme on a case-by-case basis.

  • SIAS Event: Cyber Insurance

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    4 May 2020

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    The talk will cover:
    • Why cyber security is regarded as the top threat to businesses (Allianz Risk Barometer 2019)
    • What is causing the shift in threat landscape
    • Who is attacking, why, and how we can stop them
    • Customer impressions of cyber security and how you can help them
    • Threats to evaluating insurable losses and responding to claims
    • How cyber insurance policies have evolved, and need to continue to do so
    • Can and should you recover ransoms under cyber insurance?
    • What is the future for cyber risk?

  • KSS event: Technology: A red-eyed Terminator or an actuary’s best friend?

     Hymans Robertson, Exchange Place 1, 1 Semple Street, Edinburgh, EH3 8BL
    4 May 2020

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    Despite long-running concerns that innovation could lead to widespread redundancy, technology has enabled greater productivity, created higher-value jobs and spurred us on to new heights. With artificial intelligence increasingly automating work undertaken by professionals, I look at the prospects for the actuarial profession in the era of unprecedented technological innovation.

  • Finance and Investment Conference 2020

    Royal College of Physicians, 11 St Andrews Pl, London NW1 4LE
    05-05 May 2020
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    Join us at this year’s Finance and Investment Conference in London that will focus on ESG. The environmental, social and governance (ESG) space is growing rapidly and increasingly moving centre stage. In many cases, it is now an essential part of policy and central to the way stakeholders make decisions for the long term to ensure retention of clients, manage risk better, and ensure more economically efficient and sustainable investment returns.

    ESG factors cover a wide range of areas reflecting how vital consideration of these factors are part of wider systemic risks.

    The IFoA’s policy regarding Coronavirus is designed to safeguard the well being of those who attend IFoA events. Find out more. 

    If you have further questions specifically about this event please contact the IFoA Events Team on eventmanagament@actuaires.org.uk

  • Professional Skills Training - Edinburgh (19 May 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    19 May 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - London (19 May 2020)

    Staple Inn, High Holborn, London WC1V 7QJ         
    19 May 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • CILA 2020

    Royal College of Physicians, 11 St Andrews Pl, London NW1 4LE
    20 May 2020

    Spaces available

    CILA is aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries. It will also be of interest to all those who work in, or advise on, the life assurance market in the UK and Europe. The programme this year features a timely mix of hot topics including sessions on:

  • Protection, Health and Care Conference 2020

    The Grand Brighton, 97-99 Kings Rd, Brighton BN1 2FW
    02-03 June 2020
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    The Protection, Health and Care Conference is an annual conference aimed at all insurance professionals with a passion for harnessing insurance risk in their organisations.

  • Spaces available

    How we relate to others at work, whether they are colleagues, clients, prospective clients or other business contacts is key to individual career progression and business performance. People buy people , so considering what we are known for and how to be positively memorable are vital. This session looks at the importance of professional relationships, the psychology of personal image and impact and the three personal impact 'tools' which affect what people say about us when we're not in the room.

  • Mortality and Longevity 2020

    1 Birdcage Walk, Westminster, London SW1H 9JJ
    08-08 June 2020
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    This highly regarded seminar will provide topical and practical updates and discussion on the latest thinking and innovations in mortality and longevity.  The program is designed for life, pensions and health and care actuaries, academics, researchers, underwriters and related practitioners eager to learn about the latest developments in mortality and longevity.  The sessions are designed to be very accessible to a broad range of exp

  • Professional Skills Training - London (10 June 2020)

    Staple Inn, High Holborn, London WC1V 7QJ       
    10 June 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - Edinburgh (17 June 2020)

    IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA
    17 June 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Professional Skills Training - London (18 June 2020)

    Staple Inn, High Holborn, London WC1V 7QJ   
    18 June 2020

    Spaces available

    A Trusted Profession

    A 2 hour CPD event designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

  • Pensions Conference 2020

    Renaissance Manchester City Centre Hotel, Blackfriars Street, Manchester,M3 2EQ
    18-19 June 2020
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    Join us as this year’s conference that will focus on topics including  funding and savings, pension law current issues, ESG, the end game and transferring risk, investment issues, data visualisation and data science.

  • IFoA Asia Conference 2020, Kuala Lumpur

    CCEC Nexus, 7, Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
    24-25 June 2020
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    This event has been postponed. A new date will be announced.

    The IFoA's policy regarding COVID-19 is designed to safeguard the well-being of members and employees. As stated within the policy, the IFoA is reviewing its events programme on a case-by-case basis.

    To this end the IFoA and their strategic partner, the AIR, have taken the decision to postpone this year's Asia Conference. A new date will be announced pending further reviews over the following months.