Research
 

Research Projects

Developing research materials is one of the CIA’s fundamental activities. Thought-provoking and leading-edge research helps expand the boundaries of the profession, advances knowledge on emerging issues, lines of business, and practice areas, and aligns with the Institute’s strategic priorities. Periodic experience studies gather industry data that provide benchmarks for comparison and help to establish market trends that assist actuaries in their work. CIA research provides a unique Canadian perspective, in both official languages.

Current Projects by Line of Business and Practice Area

Actuarial Evidence
 Project  Description  Status
Impact of Disability on Earnings This first study of its kind examines the impact of different levels of disability on future earnings. Preliminary phase
All
 Project  Description  Status
CIA Member Ethical Concerns Survey Building on a similar study conducted by the American Academy of Actuaries, this initiative will survey CIA members on the ethical challenges they face in their practice, the causes of these issues, and possible solutions. Active
Enterprise Risk Management (ERM)
 Project  Description  Status
ERM for Long-Term Care The application of enterprise risk management to long‐term care at the country/government level to serve the Canadian public as well as other countries.

Active (joint project: CIA/SOA)

Municipal Assets Infrastructure Develops an aging model for municipal assets to create a viable funding model for future repair and replacement.

Preliminary phase

Group
 Project  Description  Status
Group LTD Phase I

An updated study of Canadian group long-term disability termination tables based on more recent experience. A two-phase project.

Active

Group LTD Phase II  

Preliminary phase

Individual Annuity
 Project  Description  Status
Drawdown-Based Fee Structure for Variable Annuities

Aims to develop a novel fee structure for variable annuities utilizing the drawdown measure, and demonstrate its effectiveness to address ongoing issues with standard variable annuity products.

Active

Investment
 Project  Description  Status
Economic Statistics 2017

Regular update

Active

Life
 Project  Description  Status
Markov Model for Mortality

This study considers extending the Markov aging mortality model to a more general latent class model, where the dynamic relationship between latent—health state—variable and several dimensions of health-related observations can be incorporated.

Active

Predictive Analytics for Life Insurance Studies predictive modelling methods and techniques and how they can be applied to the life insurance sector. Active (joint project: CIA/SOA
Two-Dimensional Mortality Improvement Scales Develops a stochastic mortality model allowing the production of two-dimensional mortality improvement scales with solid statistical justifications. The study also derives measures of uncertainty for mortality projections obtained from a two-dimensional scale. Active
2015–16 Life Mortality Latest update of periodic study. Active
C1 Risk Survey and Report Continuation of annual reports. (Note: C-1 risk survey was not produced for year-end 2015.) Active
Segregated Fund Policyholder Behaviour Three studies are being completed: a Canadian segregated fund policyholder behaviour company practices survey, a Canadian segregated fund policyholder experience study, and a Canadian segregated fund mortality experience study. Active (joint project: CIA/SOA)
Credibility Theory for Life Insurance Examines how concepts related to credibility theory can be applied to a life insurance framework. Preliminary phase (joint project: CIA/SOA)
Canadian Post-level Term A first CIA study using predictive analytics to examine the lapse experience of term insurance policies once they reach their first renewal. Preliminary phase (joint project: CIA/SOA)
Living Benefits
 Project  Description  Status
2016 CI Claims Study

Biannual update of the ongoing study.

Active

P&C
 Project  Description  Status
Hierarchical Pricing Models

An academic study examining the levels of interdependence between risks, insureds, and coverages for homeowners and car insurance to better estimate premiums and possible discounts.

Active

Flood Insurance Research Project Develops methodology to integrate catastrophe models related to floods into property and casualty pricing and product design.

Active (joint project: CIA/SOA/CAS)

Ontario Accident Benefits for Long-Term Disability Describes how differences in the Ontario Statutory Accident Benefits Statistical Plan legislation were treated; comments on legislative impact on LTD termination rates and annuity factor evaluation; and reviews the Ontario automobile LTD experience from 1994–2012. Active
Pension/Group Annuity
 Project  Description  Status
Longevity and Morbidity Risk Phase I

Model, measure, and manage longevity and morbidity.

Active (joint project: CIA/SOA/CAS/IFoA)

Group Annuitant Mortality Experience Study Analyzes the mortality experience of Canadian individual payment annuities for the 10-year period from policy years 2005–2006 to policy years 2014–2015.

Active

Impact of Longevity Provision on Canadian Retirement Income Planning An academic study that examines how the provision of longevity annuities can impact retirement planning based on Canadian-specific assumptions, to help individuals plan their retirement income and usage of annuities. Active
Impact of the Enhanced CPP on the Retirement Prospects of Canadians Compares the retirement financial outcomes of Canadians under the enhanced Canada Pension Plan with those under the previous version. Active (joint project: CIA/SOA)
Impact of Population Aging on Asset Values Explores the impact of population aging on economic variables. Active (joint project: CIA/SOA/IFoA)
CIA Public Statements The CIA Board has approved the development of a public statement on the topic of retirement age. Funds have been earmarked to conduct any research necessary to support this statement. Preliminary phase
 

Most Recent Research Papers