Annual Meeting and Exhibit

Annual Meeting Recordings

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Annual Meeting Agenda

Agenda - Sessions sorted by Session Sponsor

Agenda - Sessions sorted by Primary Competency

Monday, Oct. 24
7:00 a.m. - 5:00 p.m.
Registration is open for all meeting attendees.
7:30 – 8:30 a.m.
A breakfast buffet is available for all meeting attendees.
7:15 - 8:15 a.m.

Session Sponsor(s): Actuary of the Future Section; Predictive Analytics and Futurism Section

Moderator(s): David L. Snell, ASA, MAAA

Presenter(s): Brian D. Holland, FSA, MAAA; David L. Snell, ASA, MAAA

Mingling, munching and managed merriment. Participants should have an appetite--for food and for knowledge. At the conclusion of the session, attendees will be able to attend the day's sessions on a full and happy stomach.

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): David L. Snell, ASA, MAAA

Session Sponsor(s): Modeling Section

Moderator(s): Scott D. Houghton, FSA, MAAA; Trevor C. Howes, FSA, FCIA, MAAA

The presenters will provide a quick recap of the activities of the Modeling Section over the past year, and explore plans going forward into 2017, including specific attention to areas of interest within the Modeling Sections mandate, such as model governance and model efficiency. Open discussion and audience interaction is invited to help the Modeling Section Council continue their development of new activities and find new areas of interest to section members.

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): N. Shane Leib, FSA, MAAA

Presentation(s): View Presentation

Session Sponsor(s): Product Development Section

Moderator(s): Jeremy Allen Bill, FSA, MAAA

Presenter(s): Jeremy Allen Bill, FSA, MAAA; Kelly J. Rabin, FSA, MAAA

Shake off those Vegas nights and wake up with the Product Development Section! Hear an update on the section's initiatives over the past year while enjoying a hot breakfast away from the crowds.

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): Kelly J. Rabin, FSA, MAAA

Presentation(s): View Presentation

Session Sponsor(s): Social Insurance & Public Finance Section

Moderator(s): Krzysztof M. Ostaszewski, FSA, CERA, MAAA, Ph.D.

Presenter(s): Steven D. Bryson, FSA, EA, FCA, MAAA; Sven H. Sinclair, FSA, MAAA, Ph.D.

Join us for a breakfast sponsored by the Social Insurance & Public Finance Section. We will present information about our section and its current activities. This will include a report from Steve Bryson on the current state of a SIPF-sponsored research project title, "An Analysis of the Financial Health of Public OPEB Plans."

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): Krzysztof M. Ostaszewski, FSA, CERA, MAAA, Ph.D.

Session Sponsor(s): Taxation Section

Moderator(s): Jacqueline F. Yang, FSA, ACIA, MAAA

Presenter(s): Sheryl Flum; Mark S. Smith

This session will provide a Washington perspective on how insurance company tax issues may play out as we head into the 2016 presidential season, and as the IRS and Treasury learn to do more with less, especially in the insurance space.

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): Lawrence M. Hersh, FSA, MAAA; Timothy Gregory Branch, FSA, MAAA

Presentation(s): View Presentation

Session Sponsor(s): Technology Section

Moderator(s): Jenna Lauren Fariss, ASA, MAAA

Network and enjoy breakfast in a casual atmosphere. Section leaders will provide a brief update on section activities. You'll have an opportunity to raise issues in which the section should become involved during the upcoming year.

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): Robert W. Hrischenko, FSA, MAAA

Presentation(s): View Presentation

Session Sponsor(s): SOA General Insurance

Moderator(s): W. Scott Lennox, FSA, FCAS, FCIA

Presenter(s): Anthony E. Cappelletti, FSA, FCAS, FCIA; Janet E. Duncan, FSA, FCAS, MAAA; W. Scott Lennox, FSA, FCAS, FCIA

This session will include a presentation on the increased use of hand-held devices while driving and automobile accident frequency. Several carriers have remarked that auto accident frequency may be increasing in recent years due to the increased use of hand-held devices while driving. Janet Duncan, an actuarial lecturer at University of California, Santa Barbara (UCSB) will present the results from a study conducted by UCSB actuarial students that estimated the effect of hand-held devices on auto claim frequency. The results were a little unexpected and useful insights were learned along the way.

This session will also provide an opportunity for general (i.e., property and casualty) insurance actuaries to get together for breakfast. Staff Fellows will be available to answer questions regarding developments with the SOA general insurance community.

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): Anthony E. Cappelletti, FSA, FCAS, FCIA

Session Sponsor(s): SOA

Moderator(s): Benjamin L. Marshall, FSA, FCIA, MAAA

Presenter(s): David Dickson, FCIA; Mike Lombardi, FSA, CERA, FCIA, MAAA

Enjoy a hot breakfast and network with other Canadian attendees while receiving important updates from the SOA. In addition to the Canadian member e-newsletter "in Touch: Your Candian Connection," learn about the SOA's research and events intended for Canadian members.

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): Mike A. Boot, FSA, MAAA

Presentation(s): View Presentation

Session Sponsor(s): Investment Section

Moderator(s): Kelly Lynn Featherstone, FSA, ACIA

Presenter(s): David G. Schwartz, Ph.D.

Be sure to attend the Investment Section's breakfast for an update on section activities and to connect with other section members. The winner of the 2016 Redington Prize will be announced at the breakfast as will the winners of the 4th Annual Asset Allocation Contest. Please set your alarm clock. See you there!

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): Peter H. Sun, FSA, MAAA

8:30 - 10:00 a.m.

reynolds-craig-02 SOA President Craig W. Reynolds, FSA, MAAA, gives his presidential address, including a review of the SOA's achievements from the past year, a look at the new directions our organization has taken and a tip of the hat to the people who made things happen.

Craig W. Reynolds, FSA, MAAA
SOA President

Sal Khan Keynote Speaker

Sal Khan, Founder Khan Academy

Sal Khan is the founder of the Khan Academy (khanacademy.org), a nonprofit with the mission of providing free, world-class education to "anyone, anywhere." Khan Academy has over 26 million registered students in 190 countries. A former hedge fund analyst with degrees from MIT and Harvard, Khan is also the author of The One World School House , which explores the potential impact of the web as a teaching tool.

10:00 - 10:30 a.m.
A refreshment break is available for all meeting attendees.
10:30 - 11:45 a.m.

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Financial Reporting Section

Competency: External Forces & Industry Knowledge

Moderator(s): Donna R. Claire, FSA, CERA, MAAA

Presenter(s): Thomas A. Campbell, FSA, CERA, MAAA; Donna R. Claire, FSA, CERA, MAAA

Experts at this session will provide an overview of current U.S. statutory valuation issues pertaining to life and annuity products. The topics that will be covered include: status of valuation manual adoption and related PBR issues, universal life with secondary guarantees, contingent deferred annuities, life risk-based capital and developments at the NAIC affecting life insurance companies.

At the conclusion of the session, attendees will be able to describe current U.S. statutory valuation issues.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): Robert K. Leach, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Health Section

Competency: Strategic Insight and Integration

Moderator(s): Lina S. Chan, FSA, MAAA

Presenter(s): Bill Rooney, MD; Heather Shappell, CGC, MS

The use of genetic testing has increased tremendously over the last several years. The session will present the background on genetic testing, the use and misuse of genetic testing, trend drivers, billing practices and CMS' effort for billing uniformity. The session will also discuss ways to curtail the trend and improve quality use.

At the conclusion of the session, attendees will be able to identify the risks and opportunities associated with genetic testing and design insurance and products reflecting the ongoing evolution of genetic testing on health care.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): Lina S. Chan, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Health Section

Competency: Strategic Insight and Integration

Moderator(s): Yanin Peck Morgan, FSA, FCA, MAAA

Presenter(s): Joshua P. Miller, FSA, MAAA; Yanin Peck Morgan, FSA, FCA, MAAA; Sarah Owen

We've heard a lot about the financial structure of shared savings arrangements, but little about how the arrangements play out for ACOs. The panel discussion will focus on how an ACO operates under a shared savings arrangement. Topics will include an overview of ideal, typical, and unfavorable deal terms, provider education around shared savings arrangements, analyses with which actuaries might be involved throughout the lifecycle of the contract, common challenges and limitations ACOs face, and more.

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

  • Evaluate shared savings arrangements;
  • Describe key terms used in Shared Savings Arrangements (e.g., rebasing); and
  • Design an ideal shared savings arrangement from the payer and provider sides.

Country Relevance: U.S.

Experience Level: Intermediate

Session Coordinator(s): Yanin Peck Morgan, FSA, FCA, MAAA

Credits: 1.50 CPD

Session Sponsor(s): Investment Section

Competency: Strategic Insight and Integration

Moderator(s): Marc N. Altschull, FSA

Presenter(s): Seth C. Koppes; John Simone; Peter H. Sun, FSA, MAAA; Aimee Wight, CAIA, CIMA

This session discusses alternative investment options for insurance companies, as more and more companies become interested in broadening their investment universe in the current low interest rate environment. The presenters will share their experiences in providing alternative investments for insurance companies.

At the conclusion of the session, attendees will be able to be more aware of alternative investment options available to insurance companies.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Peter H. Sun, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Long Term Care Insurance Section

Competency: External Forces & Industry Knowledge

Moderator(s): Janet L. Perrie, FSA, MAAA

Presenter(s): Peggy L. Hauser, FSA, MAAA; Debapriya Mitra

The long term care insurance industry has experienced severe declines in the past decade despite a growing target audience (Baby Boomers and now their children) and a high need (seven in ten needing care in their lifetimes). How have we let this happen to ourselves? And more importantly, how can we reverse this trend, return to high growth levels, and protect more American lives? In this session, the presenters will outline the findings from a never before done industry-wide study looking at how long term care policies have been used and demonstrate that there is a very clear and compelling path back to growth. They will share what this means for the entire industry--product, marketing, target market, distribution--and challenge it to innovate based on this compelling empirical information… before someone else does.

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

  • Explain cost of care between different situses; and
  • Identify key assumptions for LTC; and
  • Identify potential ideas/levers to expand the market and protect more consumers.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): Rachel Marie Brewster, FSA, CERA, MAAA

Credits: 1.50 CPD

Session Sponsor(s): Marketing & Distribution Section

Competency: External Forces & Industry Knowledge

Moderator(s): Patti Arellano, FSA, CERA, MAAA

Presenter(s): Yommy Chiu

Behavioral economics is an alternative to the traditional surveys and focus groups that can be utilized to understand the drivers of customer behavior in the insurance industry. It merges psychology with traditional economic theory, offering insight into individual decision making behavior that goes beyond the purely rational model. Within the sphere of insurance, there are countless behaviors, not just of customers, but of underwriters, medical professionals, claims specialists and sales agents which may be better explained by behavioral economics.

By applying concepts from behavioral economics in live trials, it is possible to bring about benefits such as increasing sales and retention rates, improving claims processing, and encouraging more accurate disclosure. Swiss Re's global research team will share examples from work with reinsurance clients to incorporate behavioral economics concepts into letters, websites, forms and scripts by running A/B tests to understand drivers of customer behavior. The team currently has over 100 tests in progress that are producing clear business benefits, increasing sales, renewals, health disclosure, and turnaround speed for claims payments. These changes are driven by small, inexpensive changes in communications with customers, and we'd like to share some of our insights with you. Behavioral economics is the topic on everyone's lips with insurers and reinsurers all beginning to talk about it in earnest; we will share with you what a difference behavioral economics can actually make for insurance.

At the conclusion of the session, attendees will demonstrate an understanding of the concepts of behavioral economics and how those concepts can be applied to pain points in the insurance industry; be able to explain the benefits and necessity of testing to establish the effectiveness of behavioral economics interventions; and through case studies will be able to define the effectiveness of behavioral economics and its potential limitations.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): JJ Lane Carroll, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Modeling Section

Competency: Strategic Insight and Integration

Moderator(s): Anthony Dardis, FSA, CERA, FIA, MAAA

Presenter(s): Mark A. Davis, FSA, MAAA; Nazir Valani, FSA, FCIA, MAAA

This session acts as an introduction to the subject of model efficiency. Presenters will share senior management's perspective on model efficiency, including:

  • The background of model efficiency usage in the life insurance industry, including a history of how the theory and practice has developed over the past 35 years;
  • An overview of model efficiency techniques;
  • Availability of model efficiency resources; and
  • Senior management's views on areas of skepticism, what works well in practice, and hints to "sell" model efficiency to senior management and to the Board.

At the conclusion of the session, attendees will be able to broadly understand modeling techniques and evaluate whether they should learn more.

You may also be interested in one or more of the other model efficiency sessions: 54 PD, 94 PD, 128 PD, 165 PD.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): N. Shane Leib, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Core EA

Session Sponsor(s): Pension Section

Competency: External Forces & Industry Knowledge

Moderator(s): Ian G. Duncan, FSA, FCA, FCIA, FIA, MAAA

Presenter(s): Robert Anderson, Ph.D.; Barry Bosworth; Ian G. Duncan, FSA, FCA, FCIA, FIA, MAAA

Understanding mortality trends is extremely important for actuaries, whether working with pensions, annuities or health insurance. While there has been a long-term trend of improved life expectancy in most developed countries, increasingly there are studies suggesting diverging trends among specific sub-populations and even mortality deterioration among some populations. Additionally there are academic studies and "experts" that seem to contradict one another with some suggesting further mortality improvement (e.g. due to medical advances and lifestyle improvements) and others predicting mortality deterioration (e.g., due to obesity and other risk-related factors). This session will look at some of these different factors and recent studies to compare and contrast these different viewpoints.

At the conclusion of the session, attendees will be able to describe different views on mortality trends and describe reasons why future mortality may improve/deteriorate.

Country Relevance: U.S. and Canada

Experience Level: All

Session Coordinator(s): Andrew J. Peterson, FSA, EA, FCA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: External Forces & Industry Knowledge

Moderator(s): Cynthia MacDonald, FSA, MAAA

Presenter(s): Dieter S. Gaubatz, FSA, FCIA, MAAA; Brian D. Holland, FSA, MAAA; Tony R. Phipps, FSA, MAAA

The individual life insurance experience is transitioning to using statistical agent data as set out in the NAIC's Valuation Manual. This session will present the results of using this expanded data set for the individual life insurance experience study.

At the conclusion of the session, attendees will be able to apply the results of recent individual life insurance experience in various aspects of their day-to-day work.

Country Relevance: U.S.

Experience Level: Intermediate

Session Coordinator(s): Cynthia MacDonald, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Smaller Insurance Company Section

Competency: Strategic Insight and Integration

Moderator(s): Terry M. Long, FSA, MAAA

Presenter(s): Doug Baker; Jenna Lauren Fariss, ASA, MAAA

Changes come faster each year; large and mid-size companies can be slower to adapt than smaller companies and may be caught napping as smaller companies seize opportunities and gain market advantages. Some smaller companies are already using technology, partnerships and outsourcing to level the playing field. Now, for some smaller companies, these advances, together with their agility to adapt, their focus and ability to innovate, give them an advantage over their larger competitors. The presentation will include survey results and case studies showing opportunities for smaller insurance companies where larger companies are slow to change.

At the conclusion of the session, attendees will appreciate the many ways where small companies can outperform larger companies.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Terry M. Long, FSA, MAAA

Presentation(s): View Presentation

Session Sponsor(s): SOA General Insurance

Moderator(s): R. Dale Hall, FSA, CERA, MAAA

Presenter(s): R. Dale Hall, FSA, CERA, MAAA; Sam Gutterman, FSA, CERA, FCA, FCAS, HONFIA, MAAA; Ronora E. Stryker, ASA, MAAA

As actuaries increase their work in climate and environmental sustainability practice areas, SOA research has increased to offer more perspectives on these topics. As long-term climate and environmental analysis is done, the discount rates used to calculate present values for decision-making become increasingly important, and we will highlight SOA Research on this topic. In addition, in-house research on tornado events over the past five years on social media and industry loss control methods will be covered. Finally, an update on the release of the Actuaries Climate and Climate Risk Indexes will be highlighted.

At the conclusion of the session, attendees will be able to evaluate ways to choose discount rates for use in climate/environmental studies. Attendees will also be able to: explain ways climate data can be analyzed in actuarial practice applications and describe the Actuaries Climate and Climate Risk Indexes.

Session Coordinator(s): R. Dale Hall, FSA, CERA, MAAA

Credits: 1.50 CPD

Session Sponsor(s): RGA

Competency: Strategic Insight and Integration

Moderator(s): Timothy L. Rozar, FSA, CERA, MAAA

Presenter(s): Brendan Dickinson; Victor Pascucci; Ethan Prater

This will be an interactive session delving into the forces that could shift the future of the insurance industry. Included is a brief overview of the megatrends followed by an interactive session. A dynamic facilitator will guide attendees through a series of TED-style talks from the accelerators and venture capitalists that are scouting the 1000s of potential teams, and selecting which startups they think will have the best shot at bringing about innovation within the Insurance Industry.

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

  • Articulate the megatrends that affecting the insurance technology startup;
  • Identify which areas of the insurance value chain are the most attractive to venture capitalists; and
  • Have a set of questions upon which they should stress-test or benchmark their innovation strategy.

Follow-up: Sessions 45 L, 60 PD

Country Relevance: U.S. and Canada

Experience Level: All

Session Coordinator(s): Farron Blanc

10:30 a.m. - 12:10 p.m.

Presentation(s): View Presentation

Credits: 2.00 CPD; 2.00 Core Ethics EA

Session Sponsor(s): Pension Section

Competency: Professional values

Moderator(s): Drew Martin Luchies, FSA, FCIA

Presenter(s): Daniel P. Cassidy, FSA, CERA, EA, FCA, MAAA; Marcus A. Robertson, FSA, FCIA; Suzanne C. Wyatt, FSA, EA, MAAA

Inevitably, at some point in an actuary's career something goes wrong-a mistake is made, a miscommunication occurs, a confidence is breached, or you're asked to do something you may not be qualified to do. How do you know what to do? Come participate in this highly interactive session in which experienced actuaries facilitate a discussion of various ethical problems faced by pension actuaries in their everyday practice.

Members of the audience, as well as the presenters, will suggest possible solutions and debate the merits of each. Actuaries practicing in other consulting disciplines will find the broad concepts discussed in dealing with these pension-specific scenarios instructive in dealing with the ethical dilemmas that may occur in their business.

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

  • Analyze the situation identified in the case study and identify the key issues raised;
  • Evaluate the approaches to resolving an ethical dilemma; and
  • Apply the principles embedded in the Code of Professional Conduct to resolve ethical dilemmas that may arise for pension actuaries in the course of their practice.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Drew Martin Luchies, FSA, FCIA

10:30 a.m. - 1:30 p.m.

Credits: 1.50 CPD

Session Sponsor(s): Leadership & Development Section; SCOR

Competency: Relationship Management & Interpersonal Collaboration

Moderator(s): Mary Beth Ramsay, FSA, EA, MAAA

Presenter(s): Sara Jordan-Bloch

Research shows that women often face specific tradeoffs in the workplace, especially as they become more senior. For example, in the "likeability trap", women who are more successful are perceived as less likeable. Women often also face a tension between "tooting their own horn too much" or being passed over for underplaying their achievements. In addition, motherhood creates a whole new set of tensions between being perceived as a good mother vs. a good employee.

The good news is that there are proven strategies women can use to recognize and navigate these challenges. This workshop focuses on these evidence-driven solutions. Participants will leave both able to identify double binds and with specific ways that they can better advocate for themselves and other women in an organizational context.

At the conclusion of the session, attendees will understand issues faced by women leaders, participate in the conversation, share their experience and network with their peers.

This session includes lunch and is open to all meeting attendees free of charge. If you plan to attend you must register in advance to obtain a ticket. Attendance is limited to 100 people.

Country Relevance:  Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Anne M. Katcher, FSA, MAAA

12:00 - 1:30 p.m.
Lunch Break

Session Sponsor(s): Reinsurance Section

Moderator(s): Dustin J. Hetzler, FSA, MAAA

Looking for lunch plans for Monday? Why not join the join the inaugural section-sponsored lunch brought to by your friendly Reinsurance Section. Lunch will be held at Holsteins and this will be a marvelous opportunity to network with others who share your interest in reinsurance.

This lunch is open to all meeting attendees. There is a nonrefundable fee of $20 per person for Reinsurance Section members and $50 for all others. Please include the additional fee with your registration.

Session Coordinator(s): Samuel Carter Schauf, FSA, CERA, MAAA

1:45 - 3:00 p.m.

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Core EA

Session Sponsor(s): Education & Research Section

Competency: External Forces & Industry Knowledge

Moderator(s): Christopher Groendyke, FSA

Presenter(s): Magali Barbieri; Stephen C. Goss, ASA, MAAA; Patrick David Nolan, FSA, MAAA

The Human Mortality Database contains mortality information over several decades from over 30 developed countries. As actuaries look for ways to better estimate future mortality improvement, the database is a common source to review. The audience will learn about the database, plus receive an overview of the SOA projects with the HMD in 2016 that focus on cause of death analysis and state level mortality. Additionally, the growing development and refinement of U.S. population mortality rates by the SSA will be covered, as well as releases on U.S. population from the SOA using national health social insurance databases.

At the conclusion of the session, attendees will be able to demonstrate an understanding of the history and forward use of the Human Mortality Database, and improved understanding of the mechanics behind U.S. population tables.

Country Relevance: U.S.

Experience Level: Intermediate

Session Coordinator(s): R. Dale Hall, FSA, CERA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Financial Reporting Section

Competency: External Forces & Industry Knowledge

Moderator(s): Ashwini A. Vaidya, FSA, MAAA

Presenter(s): Tara J. P. Hansen, FSA, MAAA; Laurel A. Kastrup, FSA, MAAA; Henry W. Siegel, FSA, MAAA

The presenters will discuss the most recent developments with U.S. GAAP reporting. Experts in the application of U.S. GAAP concepts will discuss theoretical and practical aspects of emerging issues.

At the conclusion of the session, attendees will be able to describe recent developments in U.S. GAAP and the practical aspects of emerging issues.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): Ashwini A. Vaidya, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Health Section

Competency: Strategic Insight and Integration

Moderator(s): Zachary Christian Aters, ASA, MAAA

Presenter(s): John J. Bartholomew; Lori Coyner; Timothy Michael Doyle, FSA, MAAA; Douglas Emery

As more states look toward emphasizing efficiency in their Medicaid programs, more and more emphasis is going to be put on paying for services using an alternative payment structure (as opposed to traditional FFS). This alternative payment structure is going to include value based services and flexible services. There are a few challenges for the actuary with regards to this type of approach to rate development.

  1. How does the actuary quantify/measure the value of value based services?
  2. How does the actuary incorporate this into a rate development methodology?
  3. How can the actuary ensure that this type of methodology is in compliance with all applicable CMS/OACT regulations, particularly given the recent guidance on Medicaid rate development?

At the conclusion of the session, attendees will continue to explore the idea of combining Medicaid rate development with alternative payment in a way that is consistent with all applicable ASOPs and guidelines.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): Zachary Christian Aters, ASA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Health Section

Competency: External Forces & Industry Knowledge

Moderator(s): William James Swacker II, FSA, MAAA

Presenter(s): David G. Hayes, FSA, MAAA; Michael N. Muldoon, ASA, FCA, MAAA; William James Swacker II, FSA, MAAA

This session will cover the history of carrier participation, rating strategy, and market share in the Individual ACA health exchanges. This will be presented via case studies in states that have public rate filings. Presenters will discuss the various carriers entering/exiting the market, evolution of network/product strategies, and how actuarial assumptions such as demographics and risk profile have developed between 2014 and the proposed 2017 rates.

At the conclusion of the session, attendees will be able to describe how risk factors have played out in the individual market and explain differences in carrier approaches.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): William James Swacker II, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): International Section; Joint Risk Management Section (CAS, CIA and SOA)

Competency: External Forces & Industry Knowledge

Moderator(s): David Sherwood

Presenter(s): Elizabeth K. Dietrich, FSA, CERA, MAAA; David Sherwood

The International Association of Insurance Supervisors (IAIS) continues their development of risk-based global insurance capital standards (ICS). With the execution of a third round of field testing in 2016 and the timeline for adoption nearing, these standards are gaining relevance for insurers. This session will deliver an overview of the ICS framework and provide insight into recent developments as the ICS has evolved over the past few years. This session will also discuss potential implications for both U.S. and international life insurance organizations.

At the conclusion of the session, attendees will be able to explain the ICS framework, compare it to current capital frameworks, and evaluate potential impacts to their organization.

Country Relevance: International

Experience Level: All

Session Coordinator(s): Sara Veit Kaufman, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Investment Section

Competency: Strategic Insight and Integration

Moderator(s): Fiona W. Ng, FSA, CERA, CFA, MAAA

Presenter(s): Chip Clark; Jared I. Klyman, FSA, Ph.D.; Fiona W. Ng, FSA, CERA, CFA, MAAA

We have been in a prolonged low interest rate environment worldwide since the global financial crisis. This session will discuss the implications for investing in response to the low interest rate environment from both a hedging and return perspective. The impact of negative interest rates will also be discussed.

At the conclusion of the session, attendees will be able to have a better understanding of the investment options in a prolonged low interest rate environment.

Country Relevance: Non-Nation-Specific

Experience Level: Intermediate

Session Coordinator(s): Peter H. Sun, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Leadership & Development Section

Competency: Leadership

Moderator(s): Anne M. Katcher, FSA, MAAA

Presenter(s): Carlos Arocha, FSA; Jizi Dai; Margaret Resce Milkint

In this session, attendees will delve into the changing generational dynamics of today's workforce, strategies for transitioning Generation X and Millennial professionals into industry leaders and best practices for attracting emerging talent. Pulling from both Millennial and Baby Boomer perspectives, this session will discuss multigenerational perspectives and strategies for developing the next generation of leaders, including updated leadership development programs, revised mentorship opportunities and innovative recruitment and engagement tactics.

At the conclusion of the session, attendees will:

  • Gain insight into the unique perspectives and viewpoints of different generations;
  • Understand the challenges and opportunities to attract and retain multigenerational talent; and
  • Design training and mentorship programs to ensure successful integration of different leadership styles.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Anne M. Katcher, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Noncore EA

Session Sponsor(s): Pension Section; Investment Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Thomas J. Egan Jr., FSA, EA, FCA

Presenter(s): Brett Brooks Dutton, FSA, CFA, EA, MAAA, MSPA; Frank Salem, CFA; Katrina M. Tan, FSA, CFA, EA

When building a liability hedge portfolio for a pension plan, portfolio managers must balance financial theory with the practical realities of the markets in which they trade. This session explores the process of building and constructing liability hedge portfolios from an investment manager's perspective. Specific topics of discussion include: characteristics and constraints of the U.S. corporate bond market; the inherent imperfections or tradeoffs faced by portfolio managers; the potential role of active management in building a liability hedge portfolio; and how portfolio managers and actuaries can best work together in addressing the investment needs of their mutual clients.

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

  • Describe the characteristics and constraints of the U.S. corporate bond market;
  • Explain the inherent imperfections or tradeoffs faced by portfolio managers;
  • State a case for or against active management strategies in liability hedge portfolios; and
  • More effectively partner with portfolio managers in addressing the investment needs of their clients.

Country Relevance: U.S. and Canada

Experience Level: Intermediate

Session Coordinator(s): Brett Brooks Dutton, FSA, CFA, EA, MAAA, MSPA

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Noncore EA

Session Sponsor(s): Pension Section

Competency: External Forces & Industry Knowledge

Moderator(s): Julie A. Curtis, FSA, EA, MAAA

Presenter(s): Peter Kelly; Jeff Russell; Mark Schmidtke

Defined contribution plans have displaced defined benefit pensions as the primary retirement programs offered by private employers. Defined contribution plans were seen as a lower cost and, presumably, lower risk alternative. Unfortunately, as defined contribution plans have matured over the years, one lesson that has emerged is that positive outcomes for members in a defined contribution environment are not easily achieved. As the shortcomings of defined contribution plans as a source of retirement security became more evident, the hidden costs and inefficiencies of their investment structures also became more obvious, leading to aggressive litigation surrounding these shortcomings. Could the so called risk free retirement solution for employers be fraught with peril? This session will review current litigation trends in the defined contribution pension space and explore the improvements in fiduciary governance employers are implementing in response to these challenges.

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

  • Explain current litigation trends in the defined contribution space and identify the underlying fiduciary issue;
  • Compare defined contribution designs in terms of litigation risk; and
  • Develop solutions in the defined contribution space to mitigate litigation risk.

Country Relevance: U.S.

Experience Level: Intermediate

Session Coordinator(s): Drew Martin Luchies, FSA, FCIA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Predictive Analytics and Futurism Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Douglas T. Norris, FSA, MAAA

Presenter(s): Timothy S. Paris, FSA, MAAA; Sandra Tsui Shan To, FSA, MAAA; Qinqing (Annie) Xue, FSA, CERA, MAAA

As predictive analytics is increasingly becoming a needed expertise for actuaries, most actuaries are also very puzzled by how to start learning how to use it in their work. In this session, experts will provide guidance and suggestion on where to go to find proper study materials and how to start learning about predictive analytics and modeling. They will also share basic technical terms and important applications in insurance.

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

  • Develop a basic level of understanding of predictive analytics and modeling;
  • Describe the basic techniques most often used in predictive analytics, and start asking the right questions; and
  • Identify resources to start learning more in depth predictive modeling and its important applications in insurance.

Country Relevance: International

Experience Level: Beginner

Session Coordinator(s): Qichun (Richard) Xu, FSA

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: Strategic Insight and Integration

Moderator(s): Larry N. Stern, FSA, MAAA

Presenter(s): Donna Christine Megregian, FSA, MAAA; Elaine Tumicki, ChFC, CLU, LLIF

This session will explore the results of the benchmarking research conducted by the SOA. The research explores are areas needing improvement in the life and annuity product development process. From concept through implementation, find out how your product development process stacks up.

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

  • Identify the steps of the product development process;
  • Compare across processes; and
  • Develop ideas to improve processes and speed to market

Country Relevance: U.S. and Canada

Experience Level: All

Session Coordinator(s): Donna Christine Megregian, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

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

Competency: External Forces & Industry Knowledge

Moderator(s): Lawrence M. Hersh, FSA, MAAA

Presenter(s): Carl A. Friedrich, FSA, MAAA; Craig R. Springfield

The addition of accelerated death benefit riders for qualified LTC and other chronic illness benefits is rapidly gaining momentum in the life insurance industry. These riders pose some challenges from a regulatory and tax perspective.

We will consider:

  • How designs differ between a qualified LTC and a so-called 101(g) chronic illness riders;
  • How these are regulated under state and NAIC Model regulations compared to IRC Code sections 101(g) and 7702B;
  • The definition of life insurance considerations under IRC 7702 and 7702A; and
  • what additional tax reporting concerns there are for claims and any policy charges or premiums.

At the conclusion of the session, attendees will develop an understanding of the issues in combining life insurance and ADBR riders.

Country Relevance: U.S.

Experience Level: Intermediate

Session Coordinator(s): Lawrence M. Hersh, FSA, MAAA; Timothy Gregory Branch, FSA, MAAA; Kelly J. Rabin, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Technology Section

Competency: Strategic Insight and Integration

Moderator(s): Catherine V. Brown, FSA, MAAA

Presenter(s): Hunt M. Blatz; James C. Christou, FSA, FCIA, MAAA; Jason E. Kehrberg, FSA, MAAA

Most actuaries have used software to support the pricing, valuation or asset/liability modeling of insurance risks. As products, valuation methods and modeling becomes more sophisticated and companies look to replace legacy systems, actuaries are often called upon to evaluate new systems. Yet, few actuaries have ever directly supported the purchase of such software. This panel discussion will provide a critical review of the software purchase process, how to overcome bias and balance potential competing needs of different areas that influence the purchase decision. The session will include the points of view from the buyer, seller and consultants.

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

  • Define a set of software selection criteria;
  • Define a test plan for purchasing software; and
  • Apply new skills to support the evaluation of software.

Country Relevance: U.S. and Canada

Experience Level: All

Session Coordinator(s): Robert W. Hrischenko, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Society of Actuaries

Competency: Strategic Insight and Integration

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

Presenter(s): Jean-Marc Fix, FSA, MAAA; Martin Meltzer, Ph.D.

We will review existing infectious threats to mortality, their nature and their impact on mortality both of the population and the life insurance industry. We will then look at the future of their potential treatments as well as future infectious threats.

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

  • Understand and prioritize current infectious threats;
  • Evaluate the current and future impact of infectious diseases on future mortality; and
  • Suggest future strategies to cope with the risk.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Jean-Marc Fix, FSA, MAAA

Credits: 1.50 CPD

Session Sponsor(s): RGA

Competency: Strategic Insight and Integration

Moderator(s): Farron Blanc

Presenter(s): Anita Pramoda; Karn Saroya; Abby Schneiderman

Silicon Valley style startups have transformed entire traditional industries, from Amazon and book retailers, LinkedIn and recruiting firms, Uber and taxis and more recently AirBnB and hotels. Largely these startups have avoided the insurance industry. With new high profile and well-funded arrivals such as Zenefits, Oscar and Policy Genius, that is starting to change. In a series of TED style talks, hear directly from the founders on what motivates them, what challenges they face, and what they think their biggest opportunities are ahead that drive their scrappy teams to innovate within the insurance industry.

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

  • Articulate the types of problems and motivations that drive startup founders;
  • Identify which areas of the insurance value chain are the most attractive to startups; and
  • Have a set of questions upon which they should stress-test or benchmark their innovation. strategy

Follow-up to: Session 25 L

Follow-up: Session 60 PD

Country Relevance: U.S. and Canada

Experience Level: All

Session Coordinator(s): Farron Blanc

3:00 - 3:30 p.m.
A refreshment break is available for all meeting attendees.
3:30 - 4:45 p.m.

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Actuary of the Future Section

Competency: Relationship Management & Interpersonal Collaboration

Moderator(s): Olga T. Jacobs, FSA, MAAA

Presenter(s): Minyu Cao, FSA, CERA; Olga T. Jacobs, FSA, MAAA

You read the listings that show an actuary is one of the best jobs. You majored in actuarial science, and are looking forward to a great career in this wonderful profession. But wait! What happened to the line of employers looking for graduates? How do you actually enter the actuarial field and start your career? What skills will give you the advantage in a buyer's market; and what alternatives are available if you are not successful in the first round?

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

  • Realistically assess their current and near-term job qualification skills;
  • Enhance them for a better chance at employment in the actuarial profession; and
  • Identify alternatives that may provide another opportunity to use your actuarial training and interest.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): David L. Snell, ASA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Financial Reporting Section

Competency: External Forces & Industry Knowledge

Moderator(s): Leonard Mangini, FSA, FALU, FRM, MAAA

Presenter(s): Ann Cammack; Timothy C. Cardinal, FSA, CERA, MAAA; Leonard Mangini, FSA, FALU, FRM, MAAA; Donna Christine Megregian, FSA, MAAA

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. The below questions will be explored.

  • 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: U.S.

Experience Level: Intermediate

Session Coordinator(s): Leonard Mangini, FSA, FALU, FRM, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Health Section

Competency: Strategic Insight and Integration

Moderator(s): Rong Yi, Ph.D.

Presenter(s): Michael Anthony Brown, FSA, MAAA; Stefan Gildemeister, Ph.D.; Marilyn Kramer, MBA; Rong Yi, Ph.D.

As of now about 12 states have established All-Payer Claims Databases (APCDs), several states are in implementation and many more have shown strong interest. APCDs hold a wealth of information and can be used for important policy analyses and reporting as well as supporting state-based healthcare reform initiatives. In this session, state officials, APCD administrators and industry experts will discuss the public policy and actuarial applications supported by state APCDs, including cost trend reporting, price transparency, rate review, risk adjustment and other regulatory reporting. The presenters will also share their insight and practical experience on the design and evolution of state APCDs, the current regulatory environment relating to data use, challenges they had encountered, and the future directions of the APCD.

At the conclusion of the session, attendees will be able to better understand the value of state-based APCDs and what it may be able to support in terms of actuarial functions and/or policy functions.

Country Relevance: U.S.

Experience Level: Intermediate to Advanced

Session Coordinator(s): Rong Yi, Ph.D.

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Health Section

Competency: Strategic Insight and Integration

Moderator(s): Gregory G. Fann, FSA, MAAA

Presenter(s): Joan C. Barrett, FSA, MAAA; Zachary Miller Davis, FSA, MAAA; Courtney R. White, FSA, MAAA

We will talk through benchmarking tools that help identify areas that need improvement, payment reform strategies that can be implemented, and benchmarking that can help monitor results after implementation.

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

  • Describe how to get started with benchmarking;
  • Itentify available benchmarking tools; and
  • Understand ways to leverage these tools.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): Zachary Miller Davis, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Joint Risk Management Section (CAS, CIA and SOA); International Section

Competency: External Forces & Industry Knowledge

Moderator(s): Marc Slutzky, FSA, CERA, MAAA

Presenter(s): Stephen Broadie; Bradley Kading, ARe, CPCU; Michelle Rogers, JD

Presenters will discuss various impacts on insurers, global markets, and capital practices being driven by international regulatory changes such as Solvency II, C-ROSS, the NAIC's Solvency Modernization Initiative, new group holding company standards, the IAIS's capital standards work and the G20, FSOC and other's responsibilities and development in designating systemically important entities.

At the conclusion of the session, attendees will be able to understand the market impact of key upcoming regulations around the world.

Country Relevance: International

Experience Level: All

Session Coordinator(s): David Schraub, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Noncore EA

Session Sponsor(s): Investment Section; Pension Section

Competency: External Forces & Industry Knowledge

Moderator(s): Jeffrey G. Passmore, FSA, EA

Presenter(s): Alexandre Gagnon, FSA, CFA, EA; Margaret G. McDonald, FSA, FCA, MAAA; Jeffrey G. Passmore, FSA, EA

The presenters in this session will cover recent developments in pension investments, including regulatory environment and investment tools available. The presenters will share their broad exposure to the developing trends in pension investments.

At the conclusion of the session, attendees will be able to learn the latest developments in pension investment and become aware of it potential future trends.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Peter H. Sun, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Long Term Care Insurance Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Rachel Marie Brewster, FSA, CERA, MAAA

Presenter(s): Rachel Marie Brewster, FSA, CERA, MAAA; Graham W. G. Mackay, FSA, FCIA, MAAA; Justin Kell Mosbo, FSA,CFA, MAAA; Larry H. Rubin, FSA, CERA, FCA, MAAA

The presenters will discuss solutions for improving the performance of legacy blocks. Topics will include:

  • Landing spots for rate increases;
  • Providing paid-up coverage based on Statutory reserves;
  • Regulations that would allow purchase of blocks of business without the need to novate (get agreement from each policyholder); and
  • Enhanced rate increase filings based on good analytics.

At the conclusion of the session, attendees will be able to develop plans for managing long-term care blocks.

Country Relevance: U.S.

Experience Level: Intermediate

Session Coordinator(s): Rachel Marie Brewster, FSA, CERA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Modeling Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Anthony Dardis, FSA, CERA, FIA, MAAA

Presenter(s): Chin-Mei Yvonne Chueh, ASA; Ivan Joseph Parker, FSA, MAAA

This session will introduce some of the actuarial modeling techniques being used in practice for model efficiency, including:

  • Scenario reduction; and
  • Proxy modeling, in particular Radial Basis Functions ("RBF").

At the conclusion of the session, attendees will be able to define two types of modeling efficiency techniques in use today and to determine which to review further for their modeling needs.

You may also be interested in one or more of the other model efficiency sessions: 20 PD, 94 PD, 128 PD, 165 PD.

Country Relevance: U.S. and Canada

Experience Level: All

Session Coordinator(s): N. Shane Leib, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Noncore EA

Session Sponsor(s): Pension Section

Competency: Strategic Insight and Integration

Moderator(s): Maureen Stephanie Keonakhone, FSA, CERA, EA, FCA, MAAA

Presenter(s): Vickie Bajtelsmit, JD, Ph.D.; Nathan Christopher Zahm, FSA, EA, FCA

Continued improvements in average life spans have resulted in longer periods of retirement, and research has shown that average retirement wealth levels are challenged to support these longer retirement periods. Presenters will examine how longevity impacts household financial needs in retirement, and discuss strategies to address these issues.

At the conclusion of the session, attendees will be able to describe the impact of longevity on retirement income, identify trends based on analytical research, and compare strategies to finance or mitigate the risks.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Maureen Stephanie Keonakhone, FSA, CERA, EA, FCA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Noncore EA

Session Sponsor(s): Pension Section

Competency: Strategic Insight and Integration

Moderator(s): Brett Brooks Dutton, FSA, CFA, EA, MAAA, MSPA

Presenter(s): David R. Cantor, ASA, CFA, EA, FRM, MAAA; Jean Young, CPA

Behavioral finance proposes that psychological and social factors influence individuals' financial and economic decisions in ways that may lead to suboptimal outcomes. This session reviews behavioral finance concepts and explores how these concepts may impact outcomes for defined benefit (DB) and defined contribution (DC) retirement plans. Specifically, we will explore behavioral tendencies of DC plan participants, who are typically required to make significant decisions about saving, investing, and utilizing their retirement funds. Many of these same decisions for DB plans are the purview of the plan sponsor, who is typically no less susceptible to behavioral influences; this session will explore also the role of behavioral finance in DB plan sponsors' decisions.

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

  • Describe fundamental principles of the theory of behavioral finance;
  • Identify the potential behavioral pitfalls faced by participants in defined contribution retirement plans; and
  • Explain the behavioral tendencies of defined benefit pension plan sponsors.

Country Relevance: U.S. and Canada

Experience Level: All

Session Coordinator(s): Brett Brooks Dutton, FSA, CFA, EA, MAAA, MSPA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Product Development Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): John A. Adduci, FSA, MAAA

Presenter(s): John A. Adduci, FSA, MAAA; Guillaume Briere-Giroux, FSA, MAAA; Aatman Dattani

In this session, experts will discuss the issues and trends seen in the annuity market from a product development perspective. A review of the recent market activity, as well as insight into what the future may hold, will be provided. Included in this discussion will be new product designs for fixed and variable deferred annuities that are emerging at a fantastic rate. This session will review new annuity product designs in 2016 and their financial treatment. Additional topics to be presented include, but are not limited to, sales, economic environment, regulatory environment, product design including guaranteed benefit riders, and risk management for traditional fixed annuities, fixed indexed annuities, variable annuities and immediate annuities.

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

  • Identify new types of product offerings and trends;
  • Determine considerations when evaluating their current product portfolios including valuation treatment; and
  • Understand the current climate for new annuity product development.

Country Relevance: U.S.

Experience Level: Intermediate

Session Coordinator(s): John A. Adduci, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): Reinsurance Section

Competency: Technical Skills & Analytical Problem Solving

Moderator(s): Eric J. Carlson, FSA, MAAA

Presenter(s): Sean J. Conrad, FSA, MAAA; Michael David Hoyer, FSA, MAAA; Guizhou Hu, MD, Ph.D.

Analyzing data in search of information for their models is not a new concept to actuaries. What is new are some of the approaches being leveraged by data scientists and actuaries. To some it might seem that these new approaches are nothing more than throwing a bunch of data into some modeling software and seeing what comes out. In this session the presenters will reveal why you should look behind the curtain to give meaning to the output of a model. Our first panelist will discuss important theoretical, yet still practical, predictive modeling considerations. Then an actuary will walk us through how he used these techniques for a specific application to develop a predictive model. Finally, a reinsurer will discuss how they used more traditional actuarial methods to validate the model and discuss the business implications and use of the model.

At the end of this session attendees will be able to discuss various approaches used in validating predictive models. They will also know what to look for when evaluating models and deciding how to use modeling techniques in their day to day work.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Eric J. Carlson, FSA, MAAA

Presentation(s): View Presentation

Credits: 1.50 CPD; 1.50 Noncore EA

Session Sponsor(s): Social Insurance & Public Finance Section

Competency: External Forces & Industry Knowledge

Moderator(s): Jeffery M. Rykhus, FSA, MAAA

Presenter(s): M. Kent Clemens, FSA; Stephen C. Goss, ASA, MAAA

This session will provide a discussion of recent developments in the area of social insurance, specifically focusing on the current financial status of Social Security and Medicare programs. There will be an overview of the latest Trustee Reports of Social Security and Medicare. The discussion will also include short term developments and long-term trends and their interrelationships.

At the conclusion of the session, attendees will better understand recent developments in both Medicare and Social Security and the current financial situation of Social Security and Medicare, both in terms of short-term developments and long-term trends. Attendees will also get an overview of the latest Trustees Reports of Social Security and Medicare.

Country Relevance: U.S.

Experience Level: All

Session Coordinator(s): Krzysztof M. Ostaszewski, FSA, CERA, MAAA, Ph.D.

Presentation(s): View Presentation

Credits: 1.50 CPD

Session Sponsor(s): RGA

Competency: Strategic Insight and Integration

Moderator(s): Kathryn Suzanne Cox, FSA

Presenter(s): Fredrik Engelhardt; Douglas A. French, FSA, FCA, FIAA, MAAA; Timothy L. Rozar, FSA, CERA, MAAA

A selection of actuarial and non-actuary leaders who are tasked with leading their firms' innovation labs will present their views in the final series, presented in a panel discussion. Attendees will learn from several presenters who will talk about the realities of incorporating innovation within legacy carriers, with a focus on practical efforts that people can achieve regardless of their functional role, or position within the formal hierarchy of the industry.

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

  • Articulate strategies and techniques that other corporations are undertaking to embed innovation;
  • Identify process methodologies and references for attendees to take back home for further research; and
  • Access a set of questions upon which they should stress-test or benchmark their innovation strategy.

Follow-up to: Sessions 25 L, 45 L

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Farron Blanc

5:00 - 6:15 p.m.

Presentation(s): View Presentation

Credits: 0.00 CPD

Session Sponsor(s): Society of Actuaries

Competency: External Forces & Industry Knowledge

Moderator(s): Stuart Klugman, FSA, CERA

Presenter(s): Stuart Klugman, FSA, CERA; Donald R. Krouse, FSA, MAAA; Kory J. Olsen, FSA, CERA, MAAA

SOA education is continually evolving to meet the current and future needs of candidates, members, employers and the public. This session will review recent changes and preview what is to come in 2017. Particular attention will be paid to progress on the Learning Strategy initiatives adopted by the SOA Board in June 2015.

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

  • Identify current and planned changes in SOA prequalification education; and
  • Identify current SOA professional development activities and plans for 2017.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Stuart Klugman, FSA, CERA

Credits: 0.00 CPD

Session Sponsor(s): Society of Actuaries

Competency: Strategic Insight and Integration

Moderator(s): Craig W. Reynolds, FSA, MAAA

Presenter(s): Barry J. McKeown, ASA; John W. Robinson, FSA, FCA, MAAA; Sudha Shenoy, FSA, CERA, MAAA

The SOA, the actuarial profession, employers, and universities are best served when they are inclusive of all individuals and diverse. The future of the profession, in the U.S. and globally, depends in part on the actuarial profession overcoming barriers to entry and advancement for candidates from demographically underrepresented groups. The SOA Inclusion and Diversity Committee invites members and candidates to a roundtable discussion to discuss the activities of the committee including the SOA's statement on diversity and inclusion, current and pending research on diversity and inclusion in the actuarial profession and bringing diverse and inclusive conversations to SOA events and publications. This session is intended to meet the needs of actuaries who are interested in discussing the issues of diversity and inclusion. Attendees can expect to work in a roundtable format in this interactive session with the committee.

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

  • Identify the SOA's efforts to promote diversity and inclusion in the actuarial profession;
  • Demonstrate the value of diversity and inclusion; and
  • Discuss and provide feedback on diversity and inclusion issues.

Country Relevance: Non-Nation-Specific

Experience Level: All

Session Coordinator(s): Chere LaRose

5:00 - 7:00 p.m.
The Exhibit Hall is open for all meeting attendees.
7:00 - 8:30 p.m.

Make professional connections, talk with industry leaders or just relax and enjoy yourself at the networking reception. Meeting badges are required for attendees and their registered guests.

Back

Legend

Communication

Demonstrating the listening, writing and speaking skills required to effectively address diverse technical and nontechnical audiences in both formal and informal settings.

Professional Values

Adhering to standards of professional conduct and practice where all business interactions are based on a foundation of integrity, honesty and impartiality.

External Forces & Industry Knowledge

Identifying and incorporating the implications of economic, social, regulatory, geo-political and business changes into the design and delivery of actuarial solutions.

Leadership

Initiating, innovating, inspiring, creating or otherwise acting to influence others regardless of level or role toward a common goal.

Relationship Management & Interpersonal Collaboration

Creating mutually beneficial relationships and work processes toward a common goal.

Technical Skills & Analytical Problem Solving

Applying the actuarial knowledge, skills and judgment required to provide value-added services.

Strategic Insight & Integration

Anticipating trends and strategically aligning actuarial practice with broader organizational business goals.

Results-Oriented Solutions

Providing effective problem solving that addresses relevant interests and needs.