Agenda Day 2 and Presentations

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Monday, May 16
7:15 a.m. – 8:15 a.m.

Presentation(s): View Presentation

Session Sponsor(s): Taxation Section

Moderator(s): James P. Van Etten, FSA, MAAA

Presenter(s): John T. Adney, Esq.; James P. Van Etten, FSA, MAAA

Members of the Taxation Section and any meeting attendee interested in taxation developments can enjoy a hot breakfast while hearing the latest news from Washington and how it may impact life insurers.   

This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance to obtain a ticket.

Session Coordinator(s) Michelle Lynn Cramer, FSA, MAAA

Facilitator(s)

Session Sponsor(s): Entrepreneurial Actuaries Section; Leadership & Development Section; Actuary of the Future Section; International Section

Moderator(s): William Rearden, ASA

Presenter(s): Laura J. Bennett, FSA, CFA

Join us at this multi-section networking breakfast, where you will have the opportunity to interact with an actuary in the C-suite to learn more about managing a company in today's global marketplace.

This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance to obtain a ticket.

Session Coordinator(s) William Rearden, ASA

Facilitator(s)

Presentation(s): View Presentation

Session Sponsor(s): Financial Reporting Section; Smaller Insurance Company Section

Moderator(s): Leonard Mangini, FSA, MAAA

Presenter(s): Leonard Mangini, FSA, MAAA; Ryan Joel Stowe, FSA, MAAA

Financial Reporting Section and Smaller Insurance Company Section activity updates will be presented at this breakfast, as well as brief highlights of sessions sponsored by these sections.

This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance to obtain a ticket.

Session Coordinator(s) James S. Hawke, FSA, MAAA

Facilitator(s)

Session Sponsor(s): Modeling Section

Moderator(s): Trevor C. Howes, FSA, FCIA, MAAA

Presenter(s): Anthony Dardis, FSA, CERA, FIA, MAAA; Trevor C. Howes, FSA, FCIA, MAAA; Jason A. Morton, FSA, MAAA

Presenters at this breakfast will provide an update on industry hot topics, as well as recent happenings in the Modeling Section.

This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance to obtain a ticket.

Session Coordinator(s) Brenna R. Gardino, FSA, MAAA

Facilitator(s)

7:30 a.m. – 8:30 a.m.
8:30 a.m. – 9:45 a.m.

Keynote Speaker: Caspar Berry

Caspar Berry Caspar Berry, 40, started his career while still a teenager as the lead in one of BBC1's flagship television programs of the 1990s before going on to read Economics and Anthropology at Cambridge University.

At Cambridge, Caspar was a prolific theatre director where he worked with a wealth of talent in The Footlights, and after setting his sights on becoming a professional film writer, he had his first screenplay produced by Film Four whilst still in his final year. By the time he was 23, Caspar was writing for Miramax and Columbia Tri Star. Then at 25, he took the decision that would dramatically change his life: he moved to Las Vegas and became a professional poker player!

Caspar played poker professionally for most of the next three years of his life in Las Vegas, during which time he made a good living pitting his wits against some of the game's best known players. It was in this period that he also learned many of the key messages that he now imparts to businesses around the world today.

In 2002, Caspar returned to the U.K., co-founding Twenty First Century Media and building it into the fastest growing audio visual media company in the North East of England before selling it in 2008 to Bob Geldof's media giant, Ten Alps.

It was while still at the helm of twenty first century media that he began his career as a speaker and catalyst for new thinking within business about risk-taking and decision-making using his experience as a poker player to explain how we all make decisions in our personal and professional lives.

Throughout this time, he continued to be a presence on the poker scene in the UK as the host of over 400 television shows on SKY television, strategy writer for Flush magazine and one of the two poker advisors on the James Bond Movie, Casino Royale.

He has now been a professional motivational and keynote speaker for the last six years during which time he has delivered over 1,200 speeches for over 300 great companies in Europe, America and Asia.

His key messages revolve around the need to embrace uncertainty and take calculated risk in order to get the edge and achieve success; they are timeless and non-sector specific making them perfect for any training day or conference where new ideas are being discussed or debated. He is a catalyst for change and his famously upbeat, energetic style is always inspirational.

Session Coordinator(s)

Facilitator(s)

10:15 a.m. – 11:30 a.m.

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Simpa A. Baiye, FSA, CFA, MAAA

Presenter(s): Joshua David Dobiac; Philip Prince

Experience Level: Intermediate

Description:

Managed volatility funds are largely now a required allocation for variable annuity owners seeking the security of withdrawal guarantees. Managed volatility (or hybrid) indices now account for nearly a third of all premium allocations to fixed indexed annuities. It is therefore important to understand and compare the underpinnings of these offerings. This session is intended to help actuaries better reflect the risks and rewards of managed volatility in modeling annuity products.

At the conclusion of the session, attendees will be able to:

  • Explain volatility management methods in indices and funds;
  • Compare managed volatility funds in variable annuities to managed volatility indices in fixed indexed annuities; and
  • Identify appropriate methods for modeling managed volatility indices and funds for pricing purposes.

Country Relevance: US and Canada

Session Coordinator(s) Simpa A. Baiye, FSA, CFA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: Strategic Insight and Integration

Moderator(s): Leonard Mangini, FSA, MAAA

Presenter(s): Matthew Cheung, FSA, MAAA; Leonard Mangini, FSA, MAAA; Kimberly M. Steiner, FSA, MAAA

Experience Level: All

Description:

The new VM-20 reserve standard has been addressed extensively from a valuation perspective.  Presenters at this session will focus on how the new regulation may impact the product development process, including company product portfolios, prioritization and features. Related lessons learned from PBR implementation in the annuity marketplace will be discussed and connected to VM-20 implementation.

At the conclusion of the session, attendees will:

  • Have a better understanding of VM-20;
  • Understand some potential impacts of VM-20 on the product development process; and
  • Be able to apply annuity PBR experience to life PBR implementation.

Note: This session will be repeated on, Monday, May 16, from 1:15 to 2:30 p.m. See Session 21 PD.

Country Relevance: US

Session Coordinator(s) Brandon Patrick Emerson, FSA, CERA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section; Reinsurance Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Thomas P. Edwalds, FSA, ACAS, MAAA

Presenter(s): James M. Filmore, FSA, MAAA; Hezhong (Mark) Ma, FSA, MAAA

Experience Level: All

Description:

Term business that has converted to permanent business is becoming a growing part of the overall inforce.  The presenters at this session will discuss term conversions while reviewing the updated results from the SOA individual life term conversion survey and mortality study.

At the conclusion of the session, attendees will be able to evaluate the term conversion option in their portfolio to determine whether the option should be revised.

Country Relevance:  US

Session Coordinator(s) James M. Filmore, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Entrepreneurial Actuaries Section; Actuary of the Future Section; International Section; Leadership and Development Section

Competency: Leadership

Moderator(s): Kelly M. Hennigan, FSA, CFA

Presenter(s): Jason Christopher Alleyne, FSA, FCIA, FIA; Laura J. Bennett, FSA, CFA; Michael Scott Smith, FSA, MAAA

Experience Level: All

Description:

To be successful in corporate management, actuarial leaders and decision-makers must balance the needs of various internal and external stakeholders. Responsibilities include setting company goals, formulating appropriate strategies, and understanding the organization's presence internationally.  In order to move into corporate management roles, actuaries must bridge the gap between day-to-day firm activities to take an overarching view of the corporation. Our guest panel will present the challenges and opportunities associated with managing a company in today's global marketplace.

At the conclusion of the session, attendees will be able to: 

  • Demonstrate an understanding of corporate and leadership responsibilities; 
  • Understand the skills needed to transition into corporate management roles; and
  • Identify how internal, external, and global market factors influence the goals and strategies of actuaries in corporate management roles.

Country Relevance:  Non-Nation-Specific

Session Coordinator(s) William Rearden, ASA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Financial Reporting Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): David Schraub, FSA, CERA, AQ, MAAA

Presenter(s): Dariush A. Akhtari, FSA, FCIA, MAAA; David Schraub, FSA, CERA, AQ, MAAA

Experience Level: Intermediate

Description:

There has been an increasing interest and need for economic metrics for life insurance companies. The growing sophistication of ERM programs and global regulatory requirements have resulted in most life insurance companies employing some form of economic capital to measure risk. While these economic measurements come in different variations, including IFRS, USGAAP, MCEV, Solvency II and internal view, the basic principles are identical. Experts at this session will explore these basic concepts and the components of an economic balance sheet. The presenters will also review the concepts of economic value and economic capital, along with the main existing accounting frameworks and their building blocks.

At the conclusion of the session, attendees will be familiar with the concepts of economic capital and the actuarial calculations underlying an economic balance sheet.

Country Relevance: International

Session Coordinator(s) James S. Hawke, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Modeling Section; Joint Risk Management Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Jason A. Morton, FSA, MAAA

Presenter(s): David R. Beasley, FSA, CERA, MAAA; Jason A. Morton, FSA, MAAA; Robert P. Stone, FSA, MAAA

Experience Level: Intermediate

Description:

Model governance continues to be a hot topic in the industry. This topic continues to receive attention from regulators and will become increasingly high profile with PBR. Experts at this session will provide different viewpoints on the current and likely future state of model governance and the changes that may be necessary.

At the conclusion of the session, attendees will be able to define a strong model governance approach and identify recent trends in model governance.

Country Relevance: Non-Nation-Specific

Session Coordinator(s) Brenna R. Gardino, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Predictive Analytics and Futurism Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Ben H Wolzenski, FSA, MAAA

Presenter(s): Mary Pat Campbell, FSA, MAAA, PRM; Priyanka Srivastava; Qichun (Richard) Xu, FSA

Experience Level: All

Description:

Predictive analytics is increasingly becoming a needed area of expertise for actuaries. Experts at this session will provide guidance on where to go and how to start learning about predictive analytics and modeling. They will also share the lingo of the field, so that you can start asking the right questions.

At the conclusion of the session, attendees will be able to: 

  • Describe the terminology most often used in predictive analytics;
  • Identify resources to start learning more in depth predictive modeling; and
  • Develop a basic level of understanding of predictive analytics and modeling.

Country Relevance: Non-Nation-Specific

Session Coordinator(s) Ricardo Trachtman, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Taxation Section

Competency: External Forces & Industry Knowledge

Moderator(s): Brian G King, FSA, MAAA

Presenter(s): John T. Adney, Esq.; Brian G King, FSA, MAAA; Craig R. Springfield, Esq.

Description:

The presenters, along with the co-authors of the new 7702/7702A SOA textbook, will discuss recent developments on product taxation. Their focus will be on recent IRS guidance and on emerging products.

At the conclusion of this session, attendees will be aware of the recent developments regarding the taxation of insurance products and the industry impacts of those developments.

Country Relevance: US

Session Coordinator(s) Michelle Lynn Cramer, FSA, MAAA

Facilitator(s)

11:45 a.m. – 1:00 p.m.

reynolds-craig-02

This is your opportunity to learn about important issues facing the SOA and its members from the SOA president, Craig Reynolds, FSA, MAAA. Attendees will gain insight on various SOA and industry topics.

The luncheon is included in your registration fee. You may register your guest(s) for the luncheon by including $75 per person with your registration fee. Admission tickets are available for purchase at the meeting as space permits. Refunds will not be given.

Session Coordinator(s)

Facilitator(s)

1:15 p.m. – 2:30 p.m.

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: Strategic Insight and Integration

Moderator(s): Leonard Mangini, FSA, MAAA

Presenter(s): Matthew Cheung, FSA, MAAA; Leonard Mangini, FSA, MAAA; Kimberly M. Steiner, FSA, MAAA

Experience Level: All

Description:

The new VM-20 reserve standard has been addressed extensively from a valuation perspective.  Presenters will focus on how the new regulation may impact the product development process, including company product portfolios, prioritization and features.  Related lessons learned from PBR implementation in the annuity marketplace will be discussed and connected to VM-20 implementation.

At the conclusion of the session, attendees will:

  • Have a better understanding of VM-20;
  • Understand some potential impacts of VM-20 on the product development process; and
  • Be able to apply annuity PBR experience to life PBR implementation.

Note: This session is a repeat of Session 11 PD.

Country Relevance: US

Session Coordinator(s) Brandon Patrick Emerson, FSA, CERA, MAAA

Facilitator(s)

Session Coordinator(s)

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Jinnah Mucha Cox, FSA, MAAA

Presenter(s): Christopher R. Larson, FSA, MAAA; Terry M. Long, FSA, MAAA; Emily Roman, FSA, MAAA

Experience Level: Intermediate

Description:

Inforce management has become a hot topic in recent years. In this session, presenters will describe lessons learned from their inforce management analysis in both the United States and Canada. Their focus will include considerations to optimize the financial results for the writing company as well as ways to help optimize the ongoing customer experience for the policyholders.

At the conclusion of the session, attendees will be able to apply lessons learned to help manage their business effectively and to provide a better experience to their customers.

Country Relevance: US and Canada

Session Coordinator(s) James M. Filmore, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Reinsurance Section

Competency: Results-Oriented Solutions

Moderator(s): Michael L. Kaster, FSA,MAAA

Presenter(s): Shaun Downey; Ari Joseph Lindner, FSA, MAAA; Larry N. Stern, FSA, MAAA

Experience Level: Intermediate

Description:

The goal of this session is to provide attendees with an update on some of the more challenging and difficult issues around reinsurance. There will be a number of advanced topics covered in a short period of time, with the expectation that attendees will learn about some of the more detailed reinsurance topics and be able to identify areas where ceding companies should pay a bit more attention. As they say, the devil is in the details, and this session will shed some light on some of these details. 

Topics to be covered may include inforce management, administration concerns, treaty issues and other possible current topics like longevity swaps, pension risk transfer, multiple benefit products and other emerging reinsurance areas.

At the conclusion of the session, attendees will be able to:

  • Describe current trends with the use of reinsurance;
  • Identify hot topics for reinsurers; and
  • Explain some of the potential benefits reinsurance can provide.

Country Relevance: US and Canada

Session Coordinator(s) Michael L. Kaster, FSA,MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Leadership and Development Section

Competency: Leadership

Moderator(s): Kelly M. Hennigan, FSA, CFA

Presenter(s): Seletha Butler, JD

Experience Level: All

Description:

Experts at this interactive session will focus on business ethics and will explore three of its components―organizational leadership, ethical decision-making and the art of diversity.  The presenters will discuss ethical leadership and challenge the audience on ethical situations and issues faced in business. 

At the conclusion of this session, attendees will be able to:

  • Understand organizational leadership and challenges faced in business;
  • Discuss challenges and explore practical strategies for being an ethical leader and operating an ethical organization;
  • Gain insight on the why and how to diversify an organization; and
  • Help business managers avoid making ethical mistakes in playing the house of cards.

Country Relevance: Non-Nation-Specific

Session Coordinator(s) Carrie Lee Kelley, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentations

Credits: 1.50 CPD

Session Sponsor(s): Predictive Analytics and Futurism Section; Education & Research Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Jean-Marc Fix, FSA, MAAA

Presenter(s): Jean-Marc Fix, FSA, MAAA; Jeffery Robert Huddleston, ASA, CERA, MAAA

Experience Level: Beginner to Intermediate

Description:

Experts at this hands-on session will walk participants through the analytical process of developing a basic generalized linear model. Lessons learned will be practical but also provide insights about the process of approaching or evaluating a modeling project.

At the conclusion of the session, attendees will be able to:

  • Set up a basic generalized linear model model in R;
  • Answer questions about the key components of the model; and
  • Gain an understanding of the evaluation of predictive models.

Country Relevance: Non-Nation-Specific

Session Coordinator(s) Ricardo Trachtman, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Smaller Insurance Company Section; Investment Section

Competency: Strategic Insight and Integration

Moderator(s): Mark W. Whitford, FSA, CERA, MAAA

Presenter(s): Greg Halagan, CAIA, CFA; Mark W. Whitford, FSA, CERA, MAAA

Experience Level: Intermediate

Description:

Experts at this session will focus on introducing the audience to how the life and health industry is investing today and how it has changed over the past few years. They will also show how investment strategies vary and look into other interesting changes that occur as a company grows. Finally, they will explore some of the strategies companies have become increasingly interested in and will address why that is.

At the conclusion of the session, attendees will understand how life and health companies currently invest and understand the asset classes they are looking at adding/increasing an allocation to.

Country Relevance: US and Canada

Session Coordinator(s) Mark W. Whitford, FSA, CERA, MAAA

Facilitator(s)

2:30 p.m. – 3:00 p.m.
3:00 p.m. – 4:15 p.m.

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section; Reinsurance Section

Competency: External Forces & Industry Knowledge

Moderator(s): Alan J. Routhenstein, FSA, MAAA

Presenter(s): Thomas Colbrook, FSA, MAAA; Alan J. Routhenstein, FSA, MAAA; Xueli Zhang, FSA, MAAA

Experience Level: Intermediate

Description:

The requirements of Actuarial Guideline 48 will be briefly reviewed. The presenters at this session  will then explore the following: 

  • How is this impacting companies? 
  • Are new financing solutions being implemented? 
  • If so, what is their structure?
  • Have companies changed pricing and/or product offerings?
  • How does this lead into PBR?

At the conclusion of the session, attendees will be able to:

  • Explain the current state of the implementation of Actuarial Guideline 48;
  • Discuss what companies are doing; and
  • Explain current financing structures.

Country Relevance: US

Session Coordinator(s) Kelly J. Rabin, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: External Forces & Industry Knowledge

Moderator(s): Simpa A. Baiye, FSA, CFA, MAAA

Presenter(s): Kevin Michael Cloud, FSA, MAAA; Jason S. Frain, FSA, MAAA

Experience Level: All

Description: 

The individual annuity product landscape remains fluid, as insurance carriers refine their variable annuity withdrawal guarantees, upgrade their variable subaccount offerings, offer custom indices in fixed indexed annuities and grow their deferred income annuity sales. At this annuity product session, product experts will discuss the latest trends in product design and engineering, address the impact of recent industry regulations on annuity products and point to possible future impacts of macro-economic changes on annuity product offerings.

At the conclusion of the session, attendees will be able to:

  • Identify underlying drivers of current annuity product development;
  • Compare annuity product trends; and
  • Explain how changes in interest rates and market volatility can influence new product design in the years ahead.

Country Relevance: US

Session Coordinator(s) Simpa A. Baiye, FSA, CFA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Marketing & Distribution Section

Competency: Strategic Insight and Integration

Moderator(s): Andrew G. Steenman, FSA, MAAA

Presenter(s): Farron Blanc; Mary Pat Campbell, FSA, MAAA, PRM; Steven J. Rueschhoff, FSA, MAAA

Experience Level: All

Description:

There is a growing focus on the under-served and under-insured middle market-why they lack insurance, what they need, and how to market to them. Attend this sessionto learn about recent research into how companies view the middle marker,and how they're trying to reach it. Presenters will discuss product designs and strategies that target the needs and wants of these consumers and how to overcome challenges of gaining their attention.

At the conclusion of this session, attendees will:

  • Have a better understanding of the needs of the middle market;
  • Be able to identify how their company might build a road map to pursue these consumers; and
  • Apply new knowledge of how others have crafted solutions that emphasize financial security.

Country Relevance: US and Canada

Session Coordinator(s) Andrew G. Steenman, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Reinsurance Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Ronora E. Stryker, ASA, MAAA

Presenter(s): Thomas P. Edwalds, FSA, ACAS, MAAA; Kai Kaufhold, DAV

Experience Level: All

Description:

Under proposed reserving and required capital methodologies of Solvency II in Europe and principle-based reserves in the United States, the directly proportional relationship between the amount ceded and the amount of reserve and required capital credit will not apply. Reserve and required capital credit will be based on the reduction of risk for the ceding company and retention limits will impact the amount of reserve and required capital held per amount of life insurance retained.

Presenters will review a new study sponsored by the Reinsurance Section examining how a company's life insurance risk retention impacts its retained reserves and required capital under the new methodologies. They will also explore how a company might set its retention to maximize the value of reinsurance dollars spent.  The results of this study will help life insurers better understand the connection between reserve levels and retention limits to enhance risk management strategies and practices, while better understanding how reinsurance can help mitigate risk.

At the conclusion of the session, attendees will be able to:

  • Explain the connection between reserve levels and retention limits under Solvency II and a principle-based framework for determining reserves and capital;
  • Apply presentation concepts to help re-examine life insurer retention limits and manage life insurance risk profiles; and
  • Illustrate how reinsurance can help mitigate risk.

Country Relevance: US

Session Coordinator(s) Ronora E. Stryker, ASA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Actuary of the Future Section

Competency: Professional Values

Moderator(s): Benjamin Carl Farnsworth, FSA, CERA, MAAA

Presenter(s): Devon P. Esson, FSA, FCIA; Benjamin Carl Farnsworth, FSA, CERA, MAAA; Andrew Chong Jenkins, FSA, CERA, MAAA

Experience Level: All

Description:

What constitutes an effective peer review? Have you thought about what you have been doing and if it meets the actuarial standards of practice? Also, have you thought about what you were doing to determine if your procedures were actually effective enough to support your conclusions on the review of another actuary's work? Finally, do you have sufficient documentation to support your conclusions if you were ever challenged? Attend this session to learn what could be included in an effective peer review process.

At the conclusion attendees will be able to:

  • Identify resources that should be considered in doing a peer review;
  • Identify how to effectively perform a peer review; and
  • Identify levels of documentation to support peer review conclusions.

Country Relevance: Non-Nation-Specific

Session Coordinator(s) Jacqueline F. Yang, FSA, ACIA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Entrepreneurial Actuaries Section; Actuary of the Future Section

Competency: External Forces & Industry Knowledge

Moderator(s): William Rearden, ASA

Presenter(s): Jason Christopher Alleyne, FSA, FCIA, FIA; Renzhi (Rebecca) Zhang, FSA

Experience Level: All

Description:

Peer-to-peer technology has the ability to completely displace traditional businesses and operations. The emergence of the sharing economy through companies like Uber, AirBnB, and Lyft, has disrupted many industries. Insurance is no different. This session will help actuaries stay ahead of the curve with an overview of some of the early companies in the peer-to-peer insurance space. Gain a deeper perspective of how technology platforms are creating new and innovative ways for traditional insurers to better appeal to the under-insured markets.

At the conclusion of the session, attendees will be able to:

  • Understand the concepts of the sharing economy;
  • Explain the implications of peer-to-peer technology and disruption to the insurance industry; and
  • Identify opportunities to utilize peer-to-peer platforms to better appeal to the under-insured markets.

Country Relevance: US and Canada

Session Coordinator(s) William Rearden, ASA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Financial Reporting Section

Competency: External Forces & Industry Knowledge

Moderator(s): Leonard Mangini, FSA, MAAA

Presenter(s): Timothy C. Cardinal, FSA, CERA, MAAA; Leonard Mangini, FSA, MAAA; Donna Christine Megregian, FSA, MAAA; Kristin R. Norberg, ASA, MAAA

Experience Level: Intermediate

Description:

Experts at this session will investigate VM-20's impact on the life insurance market, focusing on product design implications and other issues important to pricing actuaries.

Questions that will be explored include the following:

  • Which products and product combinations may not perform as well in a post-VM-20 world, and how will VM-20 impact the design of life insurance products going forward?
  • How will companies manage the tradeoff between more favorable reserve levels and lower tax reserve benefits?
  • What will happen to cession rates as companies rethink the way they use reinsurance in light of often lower reserves and the importance of credibility?
  • What impact could VM-20 have on investments and the yields available to support products?

At the conclusion of this session, attendees will have a better understanding of VM-20 implications for existing products, and how VM-20 will impact product design going forward.

Country Relevance: US

Session Coordinator(s) James S. Hawke, FSA, MAAA

Facilitator(s)

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Predictive Analytics and Futurism Section; Education & Research Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Stephen J. Bochanski, FSA, CERA, MAAA

Presenter(s): Shaio-Tien Pan, FSA, MAAA; Anand Rao

Experience Level: All

Description:

To the insurance industry, understanding past policyholder behavior and making assumptions about how current and future policyholders are likely to behave is critical. Insurance professionals, actuaries in particular, have used a number of mathematical, statistical, financial and economic theories to understand policyholder behavior and quantify future liabilities and risks. Assumptions about future policyholder behavior form a key aspect of insurers' pricing, reserving, hedging strategies and policies.

In this session, case studies will be presented such as how to use advanced business analytic to understand mortality and morbidity implications that can be used in areas such as product design and inforce management.

At the conclusion of the session, attendees will be able to:

  • Describe what behavioral simulation is;
  • Understand its importance for actuaries; and
  • Evaluate its applications.

Country Relevance: Non-Nation-Specific

Session Coordinator(s) Sisi Chen, FSA, CERA, MAAA

Facilitator(s)

5:30 p.m. – 7:00 p.m.
Don't miss this annual networking opportunity. Relax, mingle and build professional connections and new friendships. Share your professional experiences with your peers and meet potential clients at this fun and useful event. Meeting badges are required for attendees and registered guests. 

Session Coordinator(s)

Facilitator(s)

Tuesday, May 17
7:00 a.m. – 4:30 p.m.