2007 Life - Health Spring Meetings
2007 Spring SOA Life Meeting
The 2007 Spring SOA Life Meeting will be held from May 9–11, 2007 at the JW Marriott Desert Ridge Resort and Spa in Phoenix Arizona. Below is a summary of the associated sessions either sponsored by the Education and Research Section or jointly sponsored:
Friday, May 11: Education and Research Section Continental Breakfast, 7–7:45 a.m.
Session Sponsor: Education and Research
Chairperson: Aaron Tenenbein, ASA, MAAA
Join us as we discuss current interest issues of the Education and Research Section Council and enjoy this networking opportunity.
This breakfast is open to all meeting attendees. If you plan to attend, you need to register in advance to obtain a ticket.
Coordinator: Charles S. Fuhrer, FSA, MAAA
Friday, May 11: What Is Option Pricing and Why Should I Care? [PD], 8–9:30 a.m.
Session Sponsor: Education and Research
Moderator: Chris K. Madsen, ASA, MAAA
Presenters: Chris K. Madsen, ASA, MAAA; Hal W. Pedersen, ASA
Participate in this session to learn the essentials and applications of option pricing through a discussion complemented with small follow–on case studies.
Option pricing is a critical technology in many areas of insurance practice. Variable annuities and insurance pricing and reserving are among the latest high-profile areas in which option pricing is of enormous practical importance. Our experts will examine:
- The basics of option pricing: what it is and how it works;
- Basic examples of option pricing including the Black–Scholes formula;
- The relevance of option pricing to the actuarial profession; and
- The role of option pricing in the design, pricing and risk management of insurance products.
The case studies used in the session will include an insurance pricing and reserving case study dealing with investment risk. This teaching session is designed for those who have no prior knowledge of the Black–Scholes model.
Targeted Value Ladder Stage: Process
Coordinator: Steven Lane Craighead, ASA, MAAA
2007 SOA Health Meeting
The 2007 SOA Health Meeting will be held from June 13–15, 2007 at the Sheraton Seattle in Seattle Washington. Below is a summary of the associated sessions either sponsored or co–sponsored by the Education and Research Section:
Thursday, June 14:Education and Research Section Continental Breakfast, 7:00–7:45 a.m
Session Sponsor: Education and Research
Chairperson: Ian G. Duncan, FSA, FIA, FCIA, MAAA
Come to discuss current interest issues of the Education and Research Section Council and enjoy this networking opportunity. This breakfast is open to all meeting attendees. If you are planning to attend you need to register in advance to obtain a ticket.
Coordinator: Charles S. Fuhrer, FSA, MAAA
Thursday, June 14: Advanced Topics in Group Disability Experience Rating [PD], 3:00–4:30 p.m.
Session Sponsor: Health Disability Income, Education and Research
Moderator: Jeffrey L. Schuh, FSA, MAAA
Presenters: Jared S. Benedetti, FSA; Paul R. Lavallee, ASA, MAAA; Jeffrey L. Schuh, FSA, MAAA
Large group disability cases are generally priced through experience rating, where the premium charged is a reflection, in whole or in part, of the historical experience on the case. Experience rating can be a complicated process, however, involving a variety of technical considerations.
This session provides you with an opportunity to discuss a variety of considerations in the experience rating of group disability cases. Sample topics for discussion include reserve calculations, trending, plan modifications, credibility, data integrity, and risk pooling. The session is designed for attendees with moderate experience in group disability, and you'll have a high degree of participation. Targeted Value Ladder Stage: Task/Technical
Coordinator: Daniel D. Skwire, FSA, MAAA
Thursday, June 14: A Health Predictive Modeling Software Guide–Results of New SOA Study! [PD] , 3:00–4:30 p.m.
Session Sponsor: Health, Education and Research
Come hear the results of the Health Section's recently published report that compares available health predictive modeling tools and the current state of the art. This session will provide a basic overview of the types of tools available and the methodologies they use. As well, limitations and areas for future improvements will be presented.
Targeted Value Ladder Stage: Employer/Client
Coordinator: Steven C. Siegel, ASA, MAAA
Friday, June 15: Practical Applications of Stochastic Modeling for Disability Insurance [PD], 8:00–9:30 a.m.
Session Sponsor: Health Disability Income, Education and Research
Moderator: Richard Carlson Leavitt, ASA, MAAA
Presenter: Richard Carlson Leavitt, ASA, MAAA
Stochastic modeling techniques have become an increasingly powerful and popular way to understand the complex dynamics of insurance products. At times, however, it can be difficult to apply these complex models in a practical fashion. In this session, the speakers provide a variety of examples of how stochastic modeling can be used for disability insurance. Examples may be related to both pricing and valuation work.
The specific examples and applications discussed are designed to be practical in nature. Attendees will gain an understanding of situations where stochastic modeling offers particular value, and how such models can be applied to their own business.
Targeted Value Ladder Stage: Process
Coordinator: Daniel D. Skwire, FSA, MAAA
Friday, June 15: Stochastic Modeling in Health Benefits [PD], 10:00–11:30 a.m.
Session Sponsor: Education and Research, Health
Moderator: Lijia Guo, ASA, MAAA, PhD
Presenters: Charles S. Fuhrer, FSA, MAAA; Lijia Guo, ASA, MAAA, Ph.D.
Many advanced statistical techniques are available for use in modeling health benefits. A few examples are generalized additive models, generalized linear models, and non–parametric models. These methods are well known to most statisticians but not most actuaries. The presenters will show how these methods can improve health insurance analyses in applications such as projecting health insurance claims and pricing health benefits. At the conclusion of this session, attendees will have an understanding of how stochastic modeling can get more accurate results or even some new results for their employers and/or clients.
Case studies will be provided to help attendees gain a basic understanding of how to perform the techniques in product strategy, pricing, underwriting, and enterprise risk management.
Literature/reference will be shared with attendees for more thorough understanding.
Targeted Value Ladder Stage: Task/Technical
Coordinator: Charles S. Fuhrer, FSA, MAAA