Al Klein is a principal and consulting actuary with Milliman’s Buffalo Grove/Chicago office. He joined the firm in 2009.
Al’s primary responsibilities include conducting industry experience studies and assisting clients with mortality, longevity, and underwriting-related issues. He has been involved with product development, assumption setting, and mergers and acquisitions. In the mortality and underwriting space, Al has expertise on a wide variety of products, including traditional, simplified issue, final expense, older age, and preferred.
Prior to joining Milliman, Al worked for a large stock life insurance company where he conducted experience studies across all lines of business. He also worked in reinsurance and consulting, where he was responsible for strategic planning, product development, and traditional reinsurance.
Al is a frequent speaker and is currently involved with a number of industry activities in the following roles:
Representiative, Society of Actuaries (SOA)
Co-Vice Chair, Mortality Working Group of the International Actuarial Association, involved in the following projects:
Underwriting practices around the world
Drivers of future mortality
Older age mortality
Member, SOA Longevity Advisory Group
Chair, SOA Underwriting Issues and Innovation Seminar Planning Committee
Member, SOA Life Insurance Mortality and Underwriting Survey Committee
Chair, Predictive Analytics and Accelerated and Enhanced Underwriting Survey Team
Member, Joint American Academy of Actuaries (AAA)/SOA Preferred Mortality Oversight Group
Member, Joint AAA/SOA Underwriting Criteria Team
Member, 2015 SOA Valuation Basic Table Development Team
Member, Longer Life Foundation Advisory Board
Member, SOA Project Oversight Group
Professional Designations
Fellow, Society of Actuaries
Member, American Academy of Actuaries
Education
BS, Actuarial Science and Finance, University of Illinois, Urbana
For COVID-19 in the United States, we show how mortality has changed for the general population and the life insurance industry, and pose some questions for the future.
We present the results from surveys of the accelerated underwriting practices of direct companies and reinsurers conducted for the Society of Actuaries Research Institute.
With the introduction of preferred risk underwriting programs in the late 1980s, those late implementing preferred programs found more than their fair shares of the poorer risks. A similar process is happening again as companies redesign their older age underwriting