Sun Life Experience Study

Abstract

Our team developed an experience study for Sun Life Financial’s PIC (Professional Insurance Company) block of business. This block consists of individual disability, hospital, cancer, and life products, and is no longer being actively sold. As such, the primary interest in measuring experience is for the valuation team to accurately set reserves to cover active and anticipated future claims. Through analysis of the data provided by Sun Life, we were able to establish mortality, morbidity, and persistency rates for each product by various significant categorical splits