INSURANCE ACTUARIAL REVIEW CHECKLIST

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--- DATA INTEGRITY & SOURCE VALIDATION ---
[ ] Data Source Verification (Internal System, External Vendor, Manual Entry)
[ ] Record Count
[ ] Data Type Validation Status (Passed, Failed, N/A)
[ ] Last Data Extraction Date
[ ] Data Anomalies Identified
[ ] Completeness Check Result (Complete, Incomplete, Partially Complete)

--- MODEL ASSUMPTIONS REVIEW ---
[ ] Describe Key Model Assumptions
[ ] Mortality Rate (as %)
[ ] Expense Ratio (as %)
[ ] Discount Rate Method (Yield Curve, Actuarial Judgment, Market Rates)
[ ] Justification for Discount Rate Selection
[ ] Date of Last Assumption Review

--- PROJECTION METHODOLOGY VALIDATION ---
[ ] Statistical Method Used (Regression Analysis, Time Series Analysis, Monte Carlo Simulation, Other (Specify in Long Text))
[ ] Detailed Explanation of Methodology
[ ] Historical Data Period (Years)
[ ] Confidence Interval (%)
[ ] Seasonality Adjustment Method (Moving Average, Decomposition, None, Other (Specify in Long Text))
[ ] Justification for Model Selection

--- LOSS RESERVING ADEQUACY ---
[ ] Current Loss Reserve Balance
[ ] Projected Ultimate Loss Ratio
[ ] Development Factor Applied
[ ] Last Reserve Analysis Date
[ ] Justification for Development Factors
[ ] Reserve Method Used (Chain Ladder, Bornhuetter-Ferguson, Actuarial Chain, Other)
[ ] Supporting Reserve Analysis Documentation

--- PRICING AND RATE ADEQUACY ---
[ ] Loss Ratio (Current)
[ ] Expense Ratio (Current)
[ ] Combined Ratio (Current)
[ ] Projected Loss Ratio (Next Year)
[ ] Rating Methodology Applied (Filed Rates, Manual Rates, Hybrid Approach)
[ ] Justification for Rate Adjustments
[ ] Competitor Rate Analysis Completed? (Yes, No)
[ ] Rate Filing Date (if applicable)

--- CAPITAL ADEQUACY ASSESSMENT ---
[ ] Current Capital Ratio
[ ] Minimum Required Capital
[ ] Stress Test Loss Scenarios (Estimate of Maximum Loss)
[ ] Available Capital to Absorb Losses
[ ] Capital Adequacy Rating (e.g., Sufficient, Marginal, Insufficient) (Sufficient, Marginal, Insufficient)
[ ] Summary of Capital Adequacy Risk Assessment
[ ] Date of Last Capital Adequacy Review

--- REGULATORY COMPLIANCE ---
[ ] Applicable Regulatory Framework(s) (NAIC Model Laws, State-Specific Regulations, Federal Regulations (e.g., ERISA), International Standards (e.g., Solvency II))
[ ] Last Regulatory Exam/Review Date
[ ] Regulatory Reporting Frequency (e.g., Quarterly, Annually)
[ ] Summary of Key Regulatory Changes Implemented
[ ] Supporting Documentation (e.g., Audit Reports, Compliance Manuals)
[ ] Compliance Status (Compliant, Non-Compliant, In Progress)

--- DOCUMENTATION & AUDIT TRAIL ---
[ ] Actuarial Review Date
[ ] Summary of Review Findings & Recommendations
[ ] Supporting Documentation (Models, Spreadsheets)
[ ] Version Number of Actuarial Model
[ ] Reviewer Name
[ ] Reviewer Signature

--- SENSITIVITY & SCENARIO TESTING ---
[ ] Change in Mortality Rate (%)
[ ] Change in Lapse Rate (%)
[ ] Change in Inflation Rate (%)
[ ] Change in Loss Ratio (%)
[ ] Economic Downturn Scenario (Mild Recession, Moderate Recession, Severe Recession, Base Case)
[ ] Scenario End Date
[ ] Scenario Narrative - Brief Description

--- PEER REVIEW & VALIDATION ---
[ ] Reviewer Assigned? (Yes, No)
[ ] Reviewer Name
[ ] Review Completion Date
[ ] Reviewer Comments & Findings
[ ] Number of Discrepancies Identified
[ ] Areas Requiring Correction? (Data Accuracy, Model Assumptions, Projections, Reserving, Pricing, Documentation)
[ ] Reviewer Signature

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