The Future of Long-Term Care Insurance Markets
June 2, 2017
NYU Stern School of Business
Henry Kaufman Management Center
Andrew Caplin, NYU Department of Economics
Ralph S.J. Koijen, NYU Stern School of Business
The conference brings together industry experts from insurance companies and actuarial consultancy companies, regulators, academics, and medical experts to explore how long-term care risk can be insured in the United States. To keep discussions focused and interactive, we target an audience of about 30 people. The ultimate goal is to identify concrete solutions for market participants and regulators, and to provide guidance to academics in terms of research priorities.
||Registration and Continental Breakfast [Kaufman Management Center, Lobby]
||Session 1: History of the Industry and Current Prospects
Session Chair: Ralph Koijen
- History of the long-term care insurance market in the United States: Summary of facts.
- Perspectives on the future of long-term care insurance markets: Potential challenges and opportunities from the industry’s and a regulatory perspective.
- A global perspective on the provision of long-term care (reimbursement model, private versus public provision and risk sharing).
- Risk management challenges in offering long-term care insurance.
- Mohamed Baccouche, AXA Group
- Andrew Dalton, Milliman [Presentation]
- David Sloane, Genworth
- Steve Schoonveld, Lincoln Financial Group
||Session 2: The Potential Demand for Long-term Care Insurance
Session Chair: Matthew Shapiro
- What are the products that households would like to buy and how do they differ from the products offered by insurance companies?
- John Ameriks, Vanguard
- Lucie Taleyson, AXA Group
- Elaine Tumicki, LIMRA [Presentation]
- Aaron Ball, New York Life
- Neal Masia, Pfizer
||Session 3: Policy, Regulation, and Research Priorities
Session Chair: Tomas Philipson
- Interaction between government programs and long-term care.
- Research priorities in aging and health as related to LTCI markets.
- Regulatory barriers to growth in LTCI markets.
- The role of LTCI markets in the overall financial protection at old age.
- John Haaga, National Institute on Aging [Presentation]
- Kenneth Langa, University of Michigan [Presentation]
- John Phillips, Social Security Administration
- Suzanne Schmitt, Fidelity [Presentation]
- David Weir, HRS and University of Michigan
||Session 4: The Future of Long-term Care Insurance: Product Design and Risk Management Challenges
Session Chair: Andrew Caplin, NYU
- What are possible product innovations within long-term care insurance taken alone, or in combination with real estate, health insurance, …?
- What are the regulatory frictions in designing effective long-term care insurance products?