Description: Learn about prevalence-induced concept change and other cognitive biases. And find out how such biases can be linked to common actuarial practices (e.g., the application of the bias to stringency of enterprise risk management frameworks, in the case of prevalence-induced concept change). You should leave the session with the ability to understand how these biases could affect your work.

Description: The working life of actuaries has become faster paced, more complex, and potentially more volatile than in any previous period in the history of the profession. Furthermore, actuaries are increasingly being asked to expand their roles into areas that lie beyond the traditional space associated with the actuarial profession. As a result, actuaries are increasingly finding themselves faced with professional and ethical dilemmas for which there is little precedent to rely for guidance. Take part in a guided discussion about three real-world case studies where actuaries were required to make difficult decisions. We will see how by remaining calm and leaning on the ASOPs, actuaries were able to navigate professional and ethical pitfalls despite pressure from key stakeholders. Each case study will highlight actuaries working in different areas within the industry. Some examples may include: - Case study 1: An actuary working for a direct insurer finds a last-minute error during a busy production cycle. - Case study 2: An actuary working for a reinsurer finds themselves under pressure to apply an unrealistic assumption. - Case study 3: An actuarial consultant is under pressure from a non-actuarial client to perform work in a way that would not comply with actuarial standards. By attending the session, you will: - Understand how to lean on the ASOPs to keep cool during stressful situations. - Manage deadlines and expectations. - Balance risk and reward, and remain true professionals, no matter how hot the fire.

Description: The rapid and persistent rise in rates has increased many insurer's concerns around liquidity, disintermediation, and overall ALM risk management. Learn an overview of ALM, including the goals and reasons for performing it, common approaches, and real-world examples of common pit falls and mistakes that have been made in the industry. Explore the differences in approaches, and the pros and cons of these various approaches.Learn about the importance of understanding the ALM approach, with clearly defined strategic objectives. Additionally,discover an understanding of the value to both managing risk and optimizing enterprise value. Come away with a deep appreciation for the value that a well-constructed ALM program can bring to valuation/capital planning/asset adequacy testing/pricing (life and annuity).

Description: Over the last decade, reinsurance companies have built robust enterprise risk management (ERM)frameworks, but how equipped are they to evaluate the risks and rewards around InsurTechs? How well does the drive for 'test and learn' and agility fit within most reinsurance companies' current risk appetite and business acceptance processes? Discuss considerations when evaluating the suitability of current risk frameworks for innovation, including risk appetites, guidance, and monitoring/communication of risks. In addition, panel experts will offer insight into how actuaries and risk managers can be seen as a valued partner, not just a gatekeeper, in these venturesby providing constructive feedback and maintaining the right skills and expertise in these emerging technologies. By attending the session, you will: Be able to assess ERM frameworks, specifically a framework's ability to manage and monitor innovation as well as better support the strategic decision-making for InsurTech partnerships and ventures.

Description: Help consumers understand their rights in health care and understand how technology is embedded into the health care industry. On top of that, you will also hear about topics related to professionalism. During this webcast, you will learn about: ▪ An overview of the health insurance market ▪ Health care provider billing and contracting ▪ Recent trends with insurers and health care providers ▪ Identify areas of excessive billing and fraud ▪ The impacts of technology on billing practices ▪ An understanding pharmacy benefits, including discounts and rebates

Description: In this Determining Appropriate Sensitivity Tests webcast, explore sensitivity testing effectiveness, the important difference between sensitivity and stress testing and more. Understanding sensitivity testing is critical to actuarial work, especially in order to properly assess and evaluate risk factors. Come explore approached to sensitivity tests and effective evaluations of sensitivity test results in order to elevate your knowledge within the actuarial science field.

Description: Where once an insurer's chief investment officer (CIO) reigned supreme over assets-aided and sometimes hindered by the involvement of a chief risk officer (CRO)-these days managing portfolio risk and return seems to be an altogether more complex affair. No less of this complexity has come from the expansion by insurers into illiquid assets in the last decade. Moving away from traditional assets has raised scrutiny of liquidity risk management, but how do insurers tackle this? In a world 'brimming with large and growing portfolio allocations to illiquid private assets,' liquidity management concerns are distinct from a typical CRO's portfolio or asset risk orientation. There's a need to look at all aspects of a fund's liquidity demands and sources, such as top-down asset allocation, bottom-up private market deal-making activities, and internal and external operations. A dedicated liquidity management function should also be able to identify both explicit and potential liquidity demands and sources and, in particular, stay in touch with market movements and the regulatory environment. It should identify, evaluate and keep at-the-ready possible external liquidity facilities-for example, the secondary market for private equity stakes, a collateralized portfolio liquidity line, a repurchase agreement or a futures program. A high-quality liquidity management team can also identify when a fund has too much liquidity, the cost of being overly cautious and how to put excess liquidity to work.

Description: Are you interested in discovering key characteristics and the market landscape in the finance industry? Do you want to learn more about decentralized finance (DeFi) with its opportunities, challenges and alternatives? Join us for the Decentralized Finance - Emerging Risks and Opportunities webcast. DeFi is an emerging financial system and its alternatives are a rapidly expanding sector. DeFi alternatives are regarded as an integral part to the support of the this developing ecosystem. Come to this rebroadcast of a webinar completed in Asia back in September where panelists explore DeFi risks and listen to a proposal of the risk classification framework. There is also a live Q&A afterwards.

Description: Because of the short-term nature of most health insurance products, the sophistication of insurers’ capital modeling tends to lag that of longer tailed life insurers. Additionally, some health insurers treat required capital modeling as a compliance exercise. However, there is considerable value to insurers who take more thoughtful approaches to capital modeling and integrate their capital modeling outcomes into the strategic decision-making process. Gain an overview of common required capital measures, including the advantages and disadvantages of each, and see a demonstration on how some capital measures are deficient for strategic decision-making. In the second half of the session, you will examine a case study of the considerations, design, implementation, challenges and outcomes of integrating a complex economic capital model into the strategic decision-making process.

Description: The U.S. life insurance industry has been increasing its exposure to complex assets, either directly as investors or via offshore reinsurance (e.g., Bermuda). In order to address regulatory concerns about such investments and reinsurance arrangements, the NAIC has begun multiple initiatives to improve disclosure and strengthen regulatory requirements, and the Bermuda Monetary Authority is also strengthening its requirements. Hear a summary of these initiatives, and get an update on the latest developments at the NAIC and at the Academy on these topics.