CMI Working Paper 125

Working Paper 125 was published in November 2019. This paper describes analysis of the term assurances dataset in 2011-2016 using generalised linear models (GLMs). The aims of this work were:

• To assess the fit of the “08” tables to the more recent data, and to inform a decision as to whether new tables are warranted; and
• To understand better the underlying risk drivers of experience, such as product type and sum assured band.

By using GLMs, we consider the effects of multiple factors simultaneously to provide an alternative view of the underlying experience.

The analysis uses a subset of the data underlying the “all offices” results for term assurances in the years 2011-2016 that we issued alongside Working Paper 123, in July 2019.

Note: this paper is available to Authorised Users only.