James N. Van Elsen, FSA, MAAA, FLMI  641-521-5046

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James N. Van Elsen, FSA, MAAA, FLMI641-521-5046

ProfessionalCredentials

  • Fellow, Society of Actuaries (FSA)
  • Member, American Academy of Actuaries (MAAA)
  • Certified Public Accountant (CPA), (not licensed)
  • Fellow, Life Management Institute (FLMI)

Professional Experience in Preneed Life Insurance

Chief Actuary & Appointed Actuary. Served the following companies in the preneed life insurance market.

  • Great Western Insurance Company, Ogden, UT
  • Great Western Life Insurance Company, Bozeman, MT
  • Homesteaders Life Company, West Des Moines, IA
  • Pekin Life Insurance Company, Pekin, IL

Product Development.

  • Great Western Insurance Company, Ogden, UT
  • Repricedstandard product
  • Developed return of premium product
  • Developed special riders
  • Monitored death benefit increase strategy
  • Homesteaders Life Company, West Des Moines, IA
  • Repriced standard product
  • Developed worksite marketing version of preneed product
  • Monitored death benefit increase strategy
  • Pekin Life Insurance Company, Pekin, IL
  • Repriced standard product
  • Monitored death benefit increase strategy

Other Assignments.

  • Arkansas law firm. Worked with a consortium of preneed companies to develop a regulatory solution to the mandatory adoption of the 2001 CSO Mortality Table. Companies in the consortium included:
  • Illinois life insurance company
  • Indiana life insurance company
  • Iowa life insurance company
  • South Dakota life insurance company
  • Utah life insurance company
  • Utah life insurance company
  • Florida reinsurance company. Served as an expert witness on preneed life insurance in the reinsurance arbitration dispute with a Texas life insurance company.
  • Utah life insurance company
  • Tax reserve and §7702 research and assistance

Professional Experience in Final Expense, Simplified Issue, & Senior Life Insurance

Chief Actuary & Appointed Actuary. Served for the following companies in the final expense, simplified issue, & senior life insurance markets

  • ALLIED Life Insurance Company, Des Moines, IA
  • Pekin Life Insurance Company, Pekin, IL
  • Woodmen of the World, Greenwood Village, CO

Product Development.

  • ALLIED Life Insurance Company, Des Moines, IA
  • Developed senior simplified issue universal life product
  • Developed simplified issue universal life products
  • Developed simplified issue term life products
  • American Republic Insurance Company, Des Moines, IA
  • Developed simplified issue whole life product
  • EMC National Life Company, Des Moines, IA
  • Developed senior simplified issue universal life product
  • Developed simplified issue universal life products
  • Developed simplified issue term life products
  • Kentucky health insurance company
  • Developed simplified issue whole life product
  • New American Life Insurance Company, Jefferson City, MO
  • Developed simplified issue whole life product
  • Pekin Life Insurance Company, Pekin, IL
  • Developed simplified issue universal life products
  • Developed simplified issue whole life products
  • Developed simplified issue term life products
  • Woodmen of the World, Greenwood Village, CO
  • Developed simplified issue term life product

Relevant Industry Committees

  • AAA Commissioners Standard Ordinary Task Force
  • AAA Life Practice Council
  • AAA Preneed Mortality Working Group
  • AAA Task Force on Reserves for Policies with Nonlevel Benefits or Premiums (“XXX”)
  • LIC Actuarial Committee
  • NALC Actuarial Committee
  • SOA Simplified Issue Subgroup
  • SOA Smaller Insurance Company Council

Relevant Public Papers, Presentations, & Newsletters

Papers.

  • “Diary of a Receivorship”, Preneed News Alert
  • “Mortality Table Solution Debated”, Preneed News Alert
  • “NAIC Adopts New Preneed Mortality Table Regulation”, Preneed News Alert
  • “NAIC First Quarter Meeting Update”, Small Talk
  • “NAIC Third Quarter Meeting Update”, Small Talk
  • “NAIC Third Quarter Meeting Update”, Small Talk
  • “PBR/PBA for Preneed Life Insurance Companies”, Preneed News Alert
  • “PBR/PBA Update”, Actuarial Consulting News
  • “PBR Recipe”, Actuarial Consulting News
  • “Plan B”, Preneed News Alert
  • “Preneed Companies Propose Modifications to ModelRegulation”, Preneed News Alert
  • “Preneed Companies Work for Reform in Texas”, Preneed News Alert
  • “Preneed Mortality Road to 26”, Small Talk
  • “Preneed Mortality Table Regulation Update”, Preneed News Alert
  • “Principles-Based Reserves are Coming, Now What?”, Preneed News Alert
  • “Principles-Based Reserving Continues to Move Forward”, Actuarial Consulting News
  • “Problems Loom for Preneed. Are You Ready?”, Preneed News Alert
  • “Smaller Company Survival at Stake”, Newsletter of the NALC
  • “Useful Actuarial Resources”, Actuarial Consulting News

Presentations.

  • “2001 CSO Table”, Presenter at Life Affiliates Meeting
  • “2002 CSO Table, etc.”, Presenter at Life Affiliates Meeting
  • “Actuarial Opinion: To Test or Not to Test? That is the Question”, Debater at NALC Summer Conference
  • “Appointed Actuary Forum”, Panelist at SOA Meeting
  • “Costs of Complying with Regulatory Requirements”, Moderator at SOA Meeting
  • “Critical Issues Forum”, Panelist at NALC Meeting
  • “Critical Regulatory & Legislative Issues”, Panelist at NALC Meeting
  • “Debate on Asset Adequacy Testing for Smaller Companies”, Debater at SOA Meeting
  • “Impact of Regulatory Uncertainty on Product Innovation”, Panelist at SOA Meeting
  • “NAIC Oversight Forum”, Panelist at NALC Meeting
  • “NALC Member Issue Involvement Program, Panelist at NALC Meeting
  • “Principles-Based Approach Update”, Presenter at CCIA Valuation Conference for Life & Health Actuaries & Credit Insurance Practitioners
  • “Principles-Based Reserves for Life Insurance Companies”, Presenter at Oliver Wyman Actuarial Firm Day
  • “Principles-Based Reserves – Update on Progress at NAIC”, Presenter at Oliver Wyman Actuarial Firm Day
  • “Product Development in Troubling Times”, Presenter at NALC Spring Conference
  • “Regulatory Outlook from a Small Company Perspective”, Speaker at ACLI Forum 500 Spring Meeting
  • “Small Company Issues”, Moderator at SOA Valuation Actuary Symposium
  • “SVO Oversight & NAIC Issue”, Panelist at NALC Meeting
  • “Trends in Insurance Financial Management”, Presenter at Northwestern Mutual Financial Network meeting with actuarial management

Newsletters. Editor & Publisher of the following newsletters:

  • Actuarial Consulting News
  • Preneed News Alert
  • The Term Report
  • The Van Elsen Report