In Europe, flooding was the most prevalent—and most expensive—climate peril last year, making 2024 the “Year of the Flood.” On this episode of Critical Point, five authors of Milliman’s annual Extreme Weather in Europe report assess the toll of flooding in their country and the response from insurers, governing bodies, and communities. They discuss what Italy is doing to protect the insurance industry, how construction in the UK and France may be contributing to flood risk, and why new regulatio...
Jun 03, 2025•17 min•Season 1Ep. 60
AI has taken the world by storm—but not all insurance companies, or countries, are approaching the technology the same way. On this special episode of Critical Point, experts from Munich Re and Milliman who work across five continents come together for a global conversation exploring how insurers and regulators are approaching AI around the world. Plus, don’t miss Part 1 and Part 2 of this series on AI and insurance. You can read the episode transcript on our website ....
Feb 11, 2025•29 min•Season 1Ep. 59
Cell and gene therapies have been grabbing news headlines, both for their potential to cure rare diseases and for their million-dollar price tags. Milliman pharmacists and healthcare experts explain why state Medicaid agencies are particularly affected and the strategies many are using for predicting uptake and covering these high costs. You can read the episode transcript on our website ....
Dec 17, 2024•26 min•Season 1Ep. 58
Healthcare costs are a hot topic as we approach open enrollment and the presidential election. In this episode of Critical Point, host Deana Bell sits down with Dave Liner and Jason Clarkson, principals at Milliman and co-authors of the Milliman Medical Index (MMI), to discuss the key drivers of 2024’s healthcare costs. They dive into the effects of government programs like Medicaid and the Inflation Reduction Act, the rising use of weight loss medications, and how these factors are shaping heal...
Oct 07, 2024•20 min•Season 1Ep. 57
Cyber risk, climate change, new pharmaceutical therapies—as companies look for ways to manage increasing costs and unforeseen exposures, captives are a popular mechanism to insure against the unexpected. Around since the 1950s, today there are more than 7,000 captive insurers worldwide, with many headquartered in Vermont, Bermuda, and the Cayman Islands. As these insurance vehicles grow in popularity, Milliman experts answer the top 10 questions everyone’s asking about captives. You can read the...
Aug 12, 2024•23 min•Season 1Ep. 56
Drugmakers are taking steps to make sure clinical trials include participants from a variety of backgrounds—and they are steadily making progress, as evidenced by new studies of multiple sclerosis and sickle cell disease. Milliman health researchers Ellyn Russo and Chris Page unpack a history of distrust in medical research, the implications of failing to attract diverse study participants, and how simple strategies like rideshare vouchers, childcare, and check-in apps can help expand a study’s ...
Jun 27, 2024•29 min•Season 1Ep. 55
Life insurers have historically invested their portfolios in the relative safety of mortgages and bonds, but economic volatility, sticky inflation, and other headwinds have spurred many insurance companies to diversify into alternatives, a trend explored in a recent Milliman paper . On this episode of Critical Point, three of the paper’s authors discuss two alternative asset classes that are particularly attractive to insurers in today’s market: private equity and real estate. They talk about un...
May 16, 2024•29 min•Season 1Ep. 54
For decades, companies with traditional pensions have been freezing those plans and replacing them with defined contribution options to help their employees save for retirement. But IBM made headlines when it restored its defined benefit program in early 2024. Three Milliman pension actuaries discuss this choice, new hybrid DB plan designs, and how plan sponsors can avoid the mistakes that led them to close their pension plans in the first place. You can read the episode transcript on our websit...
Mar 11, 2024•20 min•Season 1Ep. 53
Actuaries are vital to the insurance industry and national economies, but the profession is still emerging in many developing countries. That’s why Milliman and the United Nations Development Programme have launched a program to increase actuarial capacity around the world. In this episode, five Milliman volunteers reflect on the initiative’s first year and their work in 10 countries, from Nigeria to Nepal. You can read the episode transcript on our website....
Dec 05, 2023•41 min•Season 1Ep. 52
In our second Critical Point episode about AI applications in insurance, we drill down into the topic of machine learning and particularly its evolving uses in healthcare. Milliman Principal and Consulting Actuary Robert Eaton leads a conversation with fellow data science leaders about the models they use, the challenges of data accessibility and quality, and working with regulators to ensure fairness. They also pick sides in the great debate of Team Stochastic Parrot versus Team Sparks AGI. You...
Oct 16, 2023•38 min•Season 1Ep. 51
Artificial intelligence has been the buzz term of 2023, evolving at a pace unimaginable when Milliman launched this podcast five years ago. For this 50th episode of Critical Point, we gathered a group of our AI experts to discuss how the technology is poised to reshape the insurance value chain, from hiring practices and actuarial modeling to customer service and communication. You can read the episode transcript on our website ....
Sep 25, 2023•34 min•Season 1Ep. 50
Insurers are feeling the heat as another record-breaking summer finally cools off. In this episode of Critical Point, Milliman leaders Rich Moyer, Garrett Bradford, and Andi Shah—who have studied the impact of extreme heat from the Middle East to Europe to North Carolina—discussed the ramifications on property, workers’ compensation, health, and other types of insurance. They also talk about data, including available sources for measuring heat risk now, and the data they would like to see to hel...
Aug 21, 2023•25 min•Season 1Ep. 49
After 2022’s rollercoaster of soaring interest rates and plunging investment returns, sponsors of single-employer defined benefit plans face a key choice as they calculate the 2023 variable rate premium they’ll pay to the Pension Benefit Guaranty Corporation (PBGC). Milliman pension actuaries Casey Baldwin and Ryan Cook spoke with Nina Lantz about using the full yield curve, not being afraid of the five-year lock-in, and how switching from the alternative calculation method to the standard metho...
Aug 10, 2023•14 min•Season 1Ep. 48
As companies embrace diversity, equity, and inclusion efforts, many are realizing their benefit policies and communications can help address health inequities and be more inclusive. From modernizing the language in plan documents, to simplifying fertility care for same-sex couples, to not showing a skinny marathoner in the ads for your fitness challenge, Milliman’s Chief Diversity, Equity, and Inclusion Officer joined health benefits experts to discuss how plan sponsors can help make sure all be...
Jun 16, 2023•24 min•Season 1Ep. 47
In this companion episode to our look at SECURE 2.0 and defined contribution (DC) plans , Milliman employee benefits expert Nina Lantz explores how the new retirement law affects single-employer pensions. She talks with Milliman Consulting Actuary William Strange about what it means for retirement that life expectancy is rising more slowly, how companies can incentivize long-term employees, and why a reduction in insurance premiums could make corporate pension plan sponsorship appealing again. Y...
May 23, 2023•21 min•Season 1Ep. 46
When the SECURE 2.0 Act passed in late 2022, it introduced 92 provisions affecting retirement plans—and created a long to-do list for plan professionals. In this episode of Critical Point, Milliman employee benefits expert Nina Lantz talks with Brandy Cross, our director of defined contribution (DC) plan compliance, about how DC plans are coping. Learn which provisions plan sponsors are addressing first, and why it’s OK to wait before making plan changes. Plus, don’t miss Nina’s companion episod...
May 23, 2023•23 min•Season 1Ep. 45
More than three years after the coronavirus shut down the world, the Biden administration announced in early 2023 the end of the U.S. National Emergency and the Public Health Emergency, two declarations that had mandated health insurance coverage of COVID-19 tests and vaccines, among other requirements. As these regulations are now rolled back, what does that mean for employer-sponsored health plans? In this episode of Critical Point, Milliman health experts discuss the implications, from whethe...
Apr 25, 2023•21 min•Season 1Ep. 44
As climate change causes more storms and floods, residents of coastal areas are being forced to move inland—driving up rents and displacing current residents of those regions. Milliman recently studied this issue in a paper called “ Climate Displacement in New York City: Making Space for Our Neighbors ,” published with Rebuild by Design, a nonprofit that helps communities build resilience. On this episode of Critical Point, two of the study authors discuss the groups most at risk, designing Manh...
Mar 15, 2023•23 min•Season 1Ep. 43
Hear from Milliman’s first female principal, Peggy Pearson, about her path from homemaker (and home economics major) to actuarial leader, all while breaking through the cultural barriers of the time. In honor of Milliman’s 75th anniversary, Peggy sits down with current Milliman principals Angela Bolduc and Kim Guerriero to discuss how she “got into actuarial work on a dare,” her experience as a female leader in a primarily male-dominated field, and what has changed – and still needs to change – ...
Mar 01, 2023•35 min•Season 1Ep. 42
Church retirement plan sponsors face unique considerations. While helping to position their clergy and other plan members for a secure future, they also must stay competitive across the wider benefits landscape to recruit and retain lay employees. For a look at how one diocese manages these pressures, Milliman actuaries Jake Pringle and Delbert Zamora sat down with Gary Patton, HR director for the Diocese of Fort Worth, Texas. You can read the episode transcript on our website ....
Feb 15, 2023•21 min•Season 1Ep. 41
Insurtech never stops evolving. In this episode of Critical Point, Milliman actuaries Sheri Scott and Robert Eaton discuss recent trends they’ve seen and opportunities on the horizon--everything from new motion data and technology for improving the customer experience, to coverage for emerging risks including autonomous trucks, cryptocurrency, and even space travel. You can read the episode transcript on our website ....
Oct 25, 2022•20 min•Season 1Ep. 40
The VM-20 requirement is no longer hypothetical—it’s here, and it’s had a big impact on principle-based reserving for the life insurance industry. In this episode of Critical Point, we hear how experts are coping. Michael McCarty from Legal & General America shares the direct carrier’s side, while Laiping Wong-Stewart from RGA brings the reinsurer’s perspective. They are joined by Milliman actuaries Uri Sobel and Paul Fedchak in a conversation about the challenges and successes surrounding a...
Sep 07, 2022•42 min•Season 1Ep. 39
Learn how SECURE 2.0 could derail or reduce participant contributions, and what plan sponsors and HR professionals need to know about this potential regulation. In this episode of Critical Point, Milliman’s Jason Brantley sits down with Charles Clark and Karina Guerrero to talk about surprises in SECURE 2.0 and some of the details below the headlines. They’ll discuss the impact to required minimum distributions (RMDs), catchup contributions, and what this means for companies with non-full-time e...
Aug 08, 2022•15 min•Season 1Ep. 38
Hear real-life experiences and get an “inside the company” look at the regulatory examination of principles-based reserve valuations for life insurers. PBR is a new method of determining U.S. statutory reserves in life insurance that better quantifies product risks. Milliman’s Karen Rudolph sits down with Catherine Murphy from John Hancock and Sarah Theis from WoodmenLife, qualified actuaries who will share firsthand experiences around the regulatory review of PBR valuations within their respect...
Jul 18, 2022•37 min•Season 1Ep. 37
In this one-on-one conversation with Vicky Nevin, Microsoft’s head of international compensation and benefits, learn how a leading multinational organization is approaching its compensation and benefits strategy and overcoming global challenges. Vicky speaks with Milliman / MBWL global EB leader John-Paul Augeri to share perspectives and priorities for benefits leaders during this time of global change. You can read the episode transcript on our website ....
May 10, 2022•32 min•Season 1Ep. 36
Learn about five trends and creative approaches heading into 2022 for supplemental health benefits. Strategy consultant Christin Kuretich fuses Milliman market intel with a broader lens on society and the shifting nature of the workplace, to make some educated predictions on what we will see change and evolve in the voluntary benefits market. From mental health benefits to pet insurance and product design disruption, Christin gives a high-level overview on emerging approaches to supplemental pro...
Mar 07, 2022•31 min•Season 1Ep. 35
For corporate financial officers who are considering a pension annuity buyout, there’s an opportunity cost to 100% risk transfer, as Milliman’s Zorast Wadia and Bret Linton discuss on this episode of Critical Point. With the passage of the COVID-19 stimulus, many CFOs and plan sponsors likely see the second half of 2021 as an opportune time to de-risk their company’s pension liabilities; but pension risk transfer via an annuity buyout creates the potential to leave money on the table. This episo...
Oct 26, 2021•12 min•Season 1Ep. 34
In fall 2020, due to the Covid-19 pandemic and the looming flu season, public health experts feared the possibility of a “twindemic”—a one-two punch of Coronavirus plus influenza. But that year, flu cases hit historic lows. The so-called twindemic never happened. Milliman health care expert Ellyn Russo discusses why the volume of flu cases decreased, and what health care systems can learn from this phenomenon. You can read the episode transcript on our website ....
Sep 27, 2021•31 min•Season 1Ep. 33
In late July, the IRS provided additional guidance on changes to single-employer defined benefit pension plan cash contribution rules under the American Rescue Plan. In this episode of Critical Point, Milliman pension consultants Charlie Clark and Casey Baldwin break down the guidance and what it means for pension plans and their plan sponsors. Baldwin and Clark discuss the implications for interest rate relief, amortization rates, prefunding balances, and written elections, among other things. ...
Aug 13, 2021•14 min•Season 1Ep. 32
When it comes to long-term care, what are some of the benefits and challenges of aging-in-place services, and how can these work hand-in-hand with long term care insurance? In this episode of Critical Point, Milliman’s Robert Eaton and Missy Gordon are joined by Char Hu, founder and CEO of The Helper Bees, a healthcare insurtech company that offers care concierge services for LTCI carriers and health plans. The three experts discuss trends in the LTCI market, the rise of virtual care, and how ag...
Jul 19, 2021•26 min•Season 1Ep. 31
