The next step in my suggested study schedule is to tackle the material on the Product Development process. As mentioned in one of the comments on this blog, there are several sources that cover the process, but they all take a slightly different approach.
In past exams, the questions have tended to be specific enough that they are tied to a single part of the syllabus. Thus, I don’t think that it’s crucial to try to reconcile all of the different sources together. For now, I would just work through each of the individual sources and understand each list on its own. After I have completed all of my recordings, I plan to re-visit this topic and provide a combined summary of all of the different lists.
With that as the background, here is the information that I suggest you try to cover in Week 5:
Product Development (Life Insurance Products & Finance – Chap. 2) – A.4.1
Product Development Process (ILA-DP101, ILA-DP111, LOMA 11) – A.4.2
World Class New Product Development (ILA-DP100) – A.4.3
The Role of the Actuary in Product Roll-out (ILA-DP803) – A.4.4
The Process of Premium Formulation (Published Reference) – A.4.5
Good Luck with your studying!!
Jeremy