Policyholder Expectations

“The most obvious is if we fail policyholder expectations, we may have policyholder suits.”  LARRY R. ROBINSON (Chairman of the ACLI Subcommittee on Cost Comparisons)
1988, ACTUARIAL OPINION ON NON-GUARANTEED ELEMENTS, Society of Actuaries

“If we are going to have a group of consumers of our products who are satisfied with what they get, we have to meet their expectations.

Obviously, there are two adjustment points whereby that can be accomplished.
-One is that you can change the outcome to match the expectations.
-The other is to change the expectation to match the outcome.” Robert E. Wilcox – Chairman of the Life Disclosure Working Group (NAIC)

1994 – PROBLEMS AND SOLUTIONS FOR PRODUCT ILLUSTRATIONS (rsa94v20n229), Society of Actuaries