Description: The COVID-19 pandemic has had an impact on all aspects of daily life and its impact extends to how disability incidence may play out in the future. Product profitability will be shaped by how morbidity patterns, interest rate levels and other key drivers will play out into the future. In this session, our panel will discuss COVID’s impact on IDI morbidity experience as observed over the past 18 months, offer comparisons and insights in light of other insurance lines of business, and share emerging information on the on-going effects of Long COVID. Highlights will also include how regional differences and implications for insurers as the industry moves further into the COVID vaccine era.

Description: 2021 Life Meeting - Session 5C: Assumption Setting in an Uncertain World 8.31.21 Recording

Description: This session will kick off the key National Association of Insurance Commissioners (NAIC) activities, with a primary focus on updates to principle-based reserve valuations and appointed actuary topics. The presenters will provide insights into the current set of activities and initiatives being considered by the NAIC Life Actuarial Task Force (LATF) and Life Risk-Based Capital Working Group, as well as activities being undertaken by American Academy of Actuaries committees and work groups.

Description: Living benefits (GLWBs) in fixed index annuity products are typically accounted for under SOP03-1 under current GAAP guidance. LDTI requires companies to classify these riders as Market Risk Benefit (MRB). This webcast focuses on challenges and considerations of the MRB implementation. Industry practices of the reserving approach will be shared during this webcast, as well as hedging and pricing implications.

Description: The implementation of the IFRS 17 insurance accounting standard has brought significant changes to the financial reporting landscape of insurance companies. With new disclosure requirements and altered profit analysis, understanding and interpreting future profitability have become a topic of concern for the industry. While stability remains a key objective for insurance companies, the earning patterns might become more volatile especially when the contractual service margin (CSM) is exhausted, and a loss component (LC) needs to be established. Reinsurance, a common risk mitigation tool, can play a pivotal role in managing earnings volatility and minimizing losses for onerous measurement units. In this article, we propose a new key performance indicator (KPI) called “loss recoverability” to assess the performance of reinsurance treaties in achieving these objectives. We explain how this KPI can be utilized in multiple scenarios to evaluate the effectiveness of reinsurance strategies and pursue stability in earning patterns.

Description: 2021 ImpACT Conference - Session 11E: Real World ESGs and the NAIC's ESG Project 10.28.21 Recording

Description: 2021 Life Meeting - Session 9D: MRBs: Special Considerations for Fixed Indexed Annuities 9.1.21 Recording

Description: 2021 ImpACT Conference - Session 14B: IFRS 17- Restructuring the Corporate Operating Model 10.29.21 Recording

Description: 2021 ImpACT Conference -Session 9C: ABCs of Data Governance 10.28.21 Recording

Description: 2021 ImpACT Conference - Session 6C: Reshaping the Roles of Actuaries - A Case Study 10.27.21 Recording