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.
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.
Contributing offices received results in respect of the business for which they have submitted data. Aggregate ‘All Office’ results are also produced.
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.
You might also like
If you have any questions about the CMI please email
Filter or search events
The term 'office politics' usually has a lot of negative connotations and indeed an inability to be able to navigate an organisation's formal processes and interact effectively with others at work can have far reaching adverse consequences.
Public scrutiny of what investment funds deliver for consumers continues to be high profile, with the FCA’s Asset Management Market Study requiring fund managers to make (and publish) an annual assessment of value for authorised funds from the end of 2019.
Reimagining ageing, hosted by the Institute and Faculty of Actuaries, in partnership with the ILC
Increasing global concern over the impact of climate change has recently led to public scrutiny over the adequacy of existing risk management practices by insurance firms and pension schemes in dealing with these challenges, that potentially impact both individual actuaries and the IFOA generally.
This event is now full. Please register here for the wait list
Covering current topics and industry trends, the conference also includes a pre-conference evening dinner (18 June) giving you the opportunity to develop your network.
This KSS talk from FinTech Scotland's CEO will explore the mission to create an integrated Fintech ecosystem through provision of funding, support, infrastructure and talent that recognises and responds to the needs of all stakeholders - and the overarching aim for Scotland to be one of the top 5 Fintech global leaders by 2020.
To book your place, please email Barry_Shannon@standardlife.com
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.
Fake news, post truth, mistrust of experts... a familiar roll call of anxieties – or perhaps clichés – about our data rich world. They point to an underlying fear that in this data abundant age the bad data drives out the good and we are left with a broken public discourse.
This event is now fully booked. Please click here to register on the waiting list.
Our motivation for discussing this important subject comes from some exciting recent research which has analysed the impact of behavioural factors on the decision to purchase an annuity. This work has shown that behavioural factors can explain the well-known low demand for immediate annuities but this research also identifies an important opportunity in relation to deferred annuities (DA). The research suggests that these factors lead to positive incentives to purchase a DA and that, for longer deferred periods, a DA could be an attractive product for both consumers and insurers.
The pensions dashboard has been talked about across the industry for a long time and now nears implementation with DWP’s consultation ending in January 2019.
The Institute and Faculty of Actuaries (IFoA) and Singapore Actuarial Society (SAS) are organising a joint Professional Skills Training (PST) in Singapore. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
Notice is hereby given that the ANNUAL GENERAL MEETING of the INSTITUTE AND FACULTY OF ACTUARIES will be held at The Hub, Edinburgh on Wednesday 26 June 2019 at 16.30 (Preceded by tea from 16.00) and followed by a PRESIDENTIAL ADDRESS given by John Taylor.
The Institute for Financial and Actuarial Mathematics (IFAM) at the University of Liverpool is pleased to host the 2019 Actuarial Teachers’ and Researchers’ Conference from 27-28 June 2019. This annual two-day event has been running annually now for many years, each time hosted by a different university, and provides all those interested in actuarial research and education a great opportunity to share their ideas and catch up on the latest developments.
The Institute and Faculty of Actuaries (IFoA) and Actuarial Society of Malaysia (ASM) are organising a joint Professional Skills Training (PST) in Kuala Lumpur. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
Air pollution has gained increasing attention lately. Nicola Oliver, head of longevity and mortality research for Medical Intelligence, will discuss not only the impacts of air pollution on health and life expectancy but also how as an industry we should be addressing it.
GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year.