Description of Past Actuarial Intern Projects

Life Pricing and Product Management Intern

For our term product, the intern assisted the team in analyzing term profitability relative to competitiveness and sales. The analysis helped inform us where optimal rate changes can be made for the next Term update. For our variable universal life products, the intern assisted in gathering competitive intelligence, as well as other ad hoc analysis required for our 5/1/08 variable universal life update.

Annuity Valuation Intern

The Valuation department deferred annuity products were not consistently coded as curtate or continuous. The department needed to document how the valuation software was being coded for statutory and tax reserve. The department also needed to determine the appropriate method to calculate the reserve. The intern summarized current coding of curtate and continuous for tax and statutory assumptions and also issue year vs. change in fund assumptions. The intern together with his intern manager and his department manager met with the Allstate Financial chief actuary to discuss the methodology. The intern changed the code based on the discussion result. The department technical support team ran the reserve process for the Valuation department and the intern compared the results and summarized the impact.

Universal Life Modeling Intern

The modeling unit is in the process of converting its universal life products from one actuarial software platform to a new, more flexible actuarial software platform. The intern assisted in the conversion process by programming various product features into the new software and by designing new reporting processes in Microsoft Excel.

Term Life Modeling Intern

The modeling unit is in the process of converting its term life products from one actuarial software platform to a new, more flexible actuarial software platform. The intern assisted in the conversion process by writing computer programs to automate the process of converting assumption tables to the new format. Then, the intern worked on actual coding changes in order to make the model work on the new platform. In addition, the intern helped with automating the process of summarizing policy-level data for use in modeling calculations.

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