Ruark Consulting

Ruark’s industry experience studies of annuity policyholder behavior are fueled by data contributed each year from companies comprising over $1.1 trillion of current account values. These studies address complex and interrelated behaviors such as surrenders, partial withdrawals, annuitizations, and mortality, and are the foundation for our more advanced client services. These services range from assumption reviews to customized readily-implementable modeling with a quantified risk profile based on a combination of predictive analytics, credibility theory, and expert judgment, to full process management. More broadly, in the reinsurance space we have placed and continue to administer dozens of treaties totaling over $1.5 billion of reinsurance premium and $30 billion of account value, and also offer reinsurance audit and administration services. In the pension space, we performed the data gathering and analysis that led to the publication of the Pri-2012 mortality tables by the Society of Actuaries (SOA) in 2019. We are frequent speakers at industry events in the US and abroad on the topics of longevity, policyholder behavior and modeling, product guarantees, and reinsurance. Our work and commentary have appeared in National Underwriter, Investment News, Life Annuity Specialist (Financial Times), American Banker, Annuity News, InsuranceNewsNet, Retirement Income Journal, Insurance Risk, and The Actuary and several other newsletters and podcasts of the SOA. In 2018, CEO Timothy Paris was the subject of an SOA video and article about actuaries embracing predictive analytics. Tim is also the author of the chapter “Modeling and Managing Policyholder Behavior Risk” in the book Non-traditional Life Insurance Products with Guarantees. We are active within the SOA, through elected membership on section councils, publications, work groups, and other projects. We enjoy an ongoing collaboration with the Goldenson Center for Actuarial Research at the University of Connecticut.