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SOA Product Development Section
The new valuation manual will begin to impact the jobs of product development actuaries before it even becomes the official reality for the valuation areas of insurance companies. Companies need to understand how the new reserve regime will impact product development cycles and profitability. Many companies are not implementing or even prepared to implement (principle-based reserving) PBR in 2017, but they will need begin preparations soon. Experts at this post-symposium seminar will discuss how PBR implementation is impacting product development and how actuaries may feel their roles are changing.
During this interactive seminar, presenters will share best practices across a wide variety of product development topics and facilitate hands-on case studies. Attendees will leave the seminar with a deeper understanding of many aspects of product development impacted by the new valuation manual, and be ready to help their companies bring products to market under the new reserve regime.
At the conclusion of this seminar, attendees will:
- Have a deeper understanding of and ability to execute all phases of the product development process;
- Understand best practices around decision-making and documentation; and
- Know how to better work with other areas in the organization such as valuation, risk management, marketing, compliance, operations and IT.
Who Should Attend
All levels of actuaries involved in product development, along with valuation actuaries interested in how PBR will affect product development, and reinsurers who will be grappling with these issues.
Level of Difficulty
The seminar is designed for participants with moderate experience.