Agenda Day Four
Home| Agenda and Presentations| Attendees| Committee| Competency Framework| Corporate Sponsors| CPD| Event Sponsors| Exhibits| Hotel| Important Dates| Meeting Information| Moderator/Presenter Information| Presentations| Registration| Travel| Virtual Session
Agenda Day One and Presentations| Agenda Day Two and Presentations| Agenda Day Three and Presentations| Agenda Day Four and Presentations
The MP4 audio recordings synchronized with the presenter slides are available to purchase through the SOA store. The MP4 downloads provide excellent training, are eligible for fulfillment of your CPD requirement and allow you to view sessions you may have missed. View the sessions online anytime or download the MP4 files to your mobile device for portable listening.
| SOA Member | Nonmember | |
| Complete Meeting Compilation | $ 0 | $ 450 |
Purchase the Complete Meeting Compilation
Once your order has been processed, a confirmation email will be sent with the instructions for accessing the recordings.
| Wednesday, October 18 |
|---|
|
6:00 a.m. – 12:00 p.m.
|
|
6:15 a.m. – 7:15 a.m.
Session Sponsor(s): International Section Moderator(s): A. Graydon Bennett, FSA, FFA Presenter(s): Carlos Arocha, FSA; A. Graydon Bennett, FSA, FFA; Alejandro Bonilla Garcia; Milanthi Sarukkali, FSA Join us and Alejandro Bonilla-Garcia for Breakfast as he gives a 360° overview of his non-traditional career as an actuary with the International Labor Organization (ILO). Learn about his experience wearing different hats at the ILO such as Policy & Research Coordinator for the Social Protection Sector and Crisis Response, Chief of Operations for the Social Security Association, and Director of the Social Protection Department. After retiring from the ILO, Alejandro took on the role of Social Protection Advisor to the Permanent Mission of Mexico for the United Nations. With rapidly changing political, economic, demographic, and technological environments, Alejandro was forced to challenge and evolve the "Modus Operandi" at the ILO and his actuarial practice. During the breakfast Alejandro will share the opportunities and challenges that he faced during his career and his vision on the future of the actuarial profession in the social security and social protection fields. This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance. Session Coordinator(s) Wendy Kwan, FSA, ACIA Facilitator(s) Presentation(s): View Presentation Session Sponsor(s): Joint Risk Management Section (CAS, CIA and SOA) Moderator(s): David Schraub, FSA, CERA, MAAA Presenter(s): Dariush A. Akhtari, FSA, CERA, MAAA; David Schraub, FSA, CERA, MAAA This breakfast session will provide an update on the activities of the Joint Risk Management Section Council, and also will serve as a social and networking opportunity for actuaries who practice in the field of risk management. This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance. Session Coordinator(s) Rahim Hirji, FSA, FCIA, MAAA Facilitator(s) Presentation(s): View Presentation Session Sponsor(s): Pension Section Moderator(s): Andrew J. Peterson, FSA, EA, FCA, MAAA Presenter(s): Andrew J. Peterson, FSA, EA, FCA, MAAA; Anna M. Rappaport, FSA, MAAA; Lisa A. Schilling, FSA, EA, FCA, MAAA Join us for a breakfast bite while we present "sound bites" on recent Pension Section sponsored research projects and other Pension Section activities. The focus of the session is to provide an overview of current SOA pension research and whet your appetite to examine one or two projects in more detail. This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance. Session Coordinator(s) Andrew J. Peterson, FSA, EA, FCA, MAAA Facilitator(s) Session Sponsor(s): Technology Section Moderator(s): Wendy Chiwen Liang, FSA, CERA, MAAA Presenter(s): Paul C. Ramirez, FSA, 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. Session Coordinator(s) Robert W. Hrischenko, FSA, MAAA Facilitator(s) |
|
6:30 a.m. – 7:30 a.m.
|
|
7:30 a.m. – 8:45 a.m.
Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Entrepreneurial & Innovation Section; Marketing & Distribution Section; Technology Section; Predictive Analytics & Futurism Section; SOA General Insurance Competency: External Forces & Industry Knowledge Moderator(s): William Rearden, ASA Presenter(s): Antonio D. Johnson, ASA, MAAA; Srinivas Pulijala; Chris E. Stehno Experience Level: All What is ABCD? The presenters will explain artificial intelligence, block chain, cloud computing, and data. They will address how these new technological capabilities working together will influence business operations and risk management. Attendees will gain insight into what new opportunities these solutions bring and the challenges they should expect from them. At the conclusion of the session, attendees will be able to:
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: Strategic Insight and Integration Moderator(s): Matthew P. Clark, FSA, MAAA Presenter(s): Dale J. Mensik; Brian Joseph O'Neill, FSA, CERA, MAAA Experience Level: Intermediate Insurance companies are facing continued pressures on earnings. Economic conditions combined with competitive pressures have eroded earnings and left many faced with challenges to find earnings boost while not exposing the organization to unwanted risks. The presenters will look at how actuaries are positioned to be a catalyst to improve returns. We will discuss specific opportunities awaiting the profession and the industry. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Jason Matthew Hiquet, FSA, CERA Facilitator(s) Credits: 1.50 CPD Session Sponsor(s): Health Section Competency: Strategic Insight and Integration Moderator(s): Marc David Lucas, ASA Presenter(s): Xhenet Gacaferi; Marc David Lucas, ASA Experience Level: Intermediate The presenters will explore the cost of attrition and other member drift through different risk models, as well as the cost of a member with no attributed provider. Considerations will include the impact on risk adjustment, medical costs, open quality gaps and the impact on star measures, as well as procedures to better predict member drift, improve attribution, and reduce attrition. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Marc David Lucas, ASA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Health Section Competency: External Forces & Industry Knowledge Moderator(s): Ian G. Duncan, FSA, FCA, FCIA, FIA, MAAA Presenter(s): Ian G. Duncan, FSA, FCA, FCIA, FIA, MAAA; Matthew Harker, MBA, MPH; Terri Maxwell, Ph.D. Experience Level: Beginner The cost of dying in the United States is significant; about one-third of all Medicare expenses are incurred in the last six months of life with eight out of 10 deaths being covered under the Medicare benefit. The presenters discusses the causes, place, processes and cost of death. Death is frequently over-medicalized, with patients spending their last days connected to machines or undergoing therapies of low value that are often not in keeping with patient/family preferences. Predictive models now are capable of identifying persons appropriate for palliative care and new population health models are emerging to allow for more widespread delivery of palliative care. These new approaches are coinciding with the shift in payment and delivery reform at federal to state levels. The value of supportive care services and re-engineering of information for patients and families as they continue with an increasing disease burden will be key to addressing over-medicalization and solvency of the Medicare benefit. The presenters will be of interest to those interested in the care of their loved ones, as well as health and retirement actuaries who are concerned about the cost of care at end of life. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Ian G. Duncan, FSA, FCA, FCIA, FIA, MAAA Facilitator(s) Credits: 1.50 CPD ; 1.50 Noncore EA Session Sponsor(s): Investment Section; Pension Section Competency: Results-Oriented Solutions Moderator(s): Jeffrey G. Passmore, FSA, EA, FCA Presenter(s): Jeffrey G. Passmore, FSA, EA, FCA; Ali Zaker-Shahrak, FSA, MAAA Experience Level: Intermediate There are a number of current trends which will undermine financial security in the United States. These are:
As actuaries, we have the skill set and public trust to address these and present solutions. These challenges will be addressed in turn with discussion around possible solutions and the roles that actuaries could play. At the conclusion of the session, attendees will be able to describe factors which may cause a coming crisis and explain the role that actuaries can play in helping to find solutions. Country Relevance: U.S. Session Coordinator(s) Jeffrey G. Passmore, FSA, EA, FCA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Leadership and Development Section Competency: Communication Moderator(s): Kelly M. Hennigan, FSA Presenter(s): Kelly M. Hennigan, FSA; Katherine Araujo Pezzullo, FSA, MAAA; Mitchell Bischoff Stephenson, FSA, MAAA; Katie Wright Experience Level: All As communication skills are essential to all actuaries and business leaders, presenters will speak to the importance of verbal, non-verbal and written communications skills. Whether you are presenting to a large group, collaborating in a small meeting, making a recommendation to your colleagues, or sending out an email update to senior management, effectively communicating your message to the audience is critical to an actuary's success. Your communication style affects how others perceive you, how well you can accomplish your day-to-day work, and how influential you can be inside and outside your organization. Topics covered will include: do's and don'ts of verbal, non-verbal, and written communications; ways to most effectively communicate with senior management; common communication pitfalls actuaries face and how to avoid them; and ways to enhance your personal verbal and written communication style when working with different audiences. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Anne M. Katcher, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Long Term Care Insurance Section Competency: External Forces & Industry Knowledge Moderator(s): Lo Linda Chow, FSA, MAAA Presenter(s): Lo Linda Chow, FSA, MAAA; John Cutler; John O’Leary Experience Level: Intermediate The need for Long-Term Care is on the rise as the Baby Boom generation ages. The presenters will summarize from a high level the projected future drivers and costs for LTC and why the private LTC approach has not worked. They will then focus on the alternate approaches in the market that appear to help address some of the current needs and near term product solutions. Specifically, the following alternate approaches will be discussed: life stage, combination products, retirement approaches like 401k and IRAs, disability nursing home rider, wellness benefits, catastrophic coverage, chronic illness rider and low cost products that cover home care benefits through Medicare. Attendees will also hear about Federal and State LTC reform initiatives and SOA Think Tank activities. Throughout the session, the audience will have a better understanding of the state of U.S. long-term care financing needs, what issues the private LTC industry is facing and what are some of the product solutions. Country Relevance: Non-Nation Specific Session Coordinator(s) Lo Linda Chow, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Modeling Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Dave Czernicki, FSA, MAAA Presenter(s): Hunt M. Blatz, CFA; Dave Czernicki, FSA, MAAA; Joseph P. Peterson, ASA, MAAA; Stephen T. Verhagen, FSA, MAAA Experience Level: All The presenters will renew discussion on the prospect of the 'one model concept,' or the ability of an insurer to consolidate their model set down to a single set, platform or even a single model. Presenters will define the 'one model concept' and discuss industry trends in the space, including efforts that are making the vision a possibility (such as vendor-provided platform developments, the transformation agenda, operating model evolution), and challenges standing in the way of the vision (such as regulatory changes, expanding demands on financial models). We will look to share lessons learned from industry participants. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Vikas Sharan, FSA, FIA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD ; 1.50 Core EA Session Sponsor(s): Pension Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Andrew J. Peterson, FSA, EA, FCA, MAAA Presenter(s): Elena V. Black, FSA, EA, FCA, MAAA; Marianne C. Purushotham, FSA, MAAA Experience Level: Beginner-Intermediate The techniques used to project mortality improvement have changed dramatically over the past two decades, evolving from simplistic "age-only" scales to today's complex multidimensional models. In addition to providing an overview of mortality improvement models currently used by actuaries in the United States, United Kingdom and Canada. The presenters will include a discussion of some of the challenges faced by those trying to assess the effectiveness of the most widely-used models. As available, findings related to the most recent updates to the Retirement Plans Experience Committee RPEC 2014 model and its successive iterations of corresponding mortality improvement scales will be discussed. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Thayer (Chip) Miller Morris III, FSA, EA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD ; 1.50 Noncore EA Session Sponsor(s): Pension Section Competency: Strategic Insight and Integration Moderator(s): Anna M. Rappaport, FSA, MAAA Presenter(s): Mathew Greenwald Experience Level: All Since 2001, the Society of Actuaries has conducted surveys every two years on how the public understands and manages various post-retirement risks. The 2017 Risk and Process of Retirement Survey is the ninth survey in this series and will provide up-to-date findings, trends and insights which are important as retirees manage post-retirement risks in an era of increased individual responsibility. The presenters will also include results of a special project interviewing individuals late-in-life. Pension actuaries, as well as those who advise and build retirement products for individuals, will benefit from the insights coming from this year's survey. Pension actuaries, as well as those who advise and build retirement products for individuals, will benefit from the insights coming from this year's survey, gaining more knowledge on post-retirement risks and how they are managed. Country Relevance: Non-Nation Specific
Session Coordinator(s) Monica Dragut, FSA, EA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: External Forces & Industry Knowledge Moderator(s): Trevor D. Huseman, FSA, MAAA Presenter(s): Nicholas E. Carbo, FSA, MAAA; Matthew R. Coleman, FSA, MAAA; Aatman Naresh Dattani Experience Level: All Experts will discuss the issues and trends seen in the annuity market from a product development perspective. New annuity product designs in 2017 and their financial treatment will be discussed. A review of recent market activity, the impact of new industry regulations on annuity products, as well as the impact of macro-economic changes on annuity product offerings will be provided. Products to be discussed include fixed, fixed indexed, variable, income, structured, contingent and outcome-oriented annuities. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Trevor D. Huseman, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section; Reinsurance Section Competency: Results-Oriented Solutions Moderator(s): Donna Christine Megregian, FSA, MAAA Presenter(s): Gregory A. Brandner, FSA, MAAA; Lisa Hollenbeck Renetzky, FSA, MAAA Experience Level: All Many companies have or are considering programs that have been referred to as accelerated underwriting. The process by which companies choose to implement this program may not be as accelerated as the name itself. Companies looking to adopt, enhance or evaluate accelerated underwriting should come listen to how some companies think about, evaluate and share lessons learned about designing, implementing and monitoring an accelerated underwriting paradigm, its impact on assumptions and products, and how a reinsurer may review the accelerated program. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Donna Christine Megregian, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): SOA Research Competency: External Forces & Industry Knowledge Moderator(s): David N. Wylde, FSA, MAAA Presenter(s): Mary Ann Broesch, FSA, MAAA; Joel Jones; Allen M. Klein, FSA, MAAA; Scott Edward Morrow, FSA, FIA, MAAA Experience Level: All The SOA Committee on Life Insurance Mortality and Underwriting Surveys will be presenting the results of its latest round of surveys, which were on the following topics:
At the conclusion of the session, attendees will have learned about:
Country Relevance: U.S. and Canada Session Coordinator(s) Korrel Rosenberg Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): SOA Competency: External Forces & Industry Knowledge Moderator(s): Larry N. Stern, FSA, MAAA Presenter(s): Charles Platt; Steven Sklaver; Larry N. Stern, FSA, MAAA Experience Level: All There have been a number of class action lawsuits recently focusing on the right of insurers to raise cost of insurance (COI) rates on universal life policies. While most of these lawsuits depend heavily on the specific language used in the policy forms, there are basic principles that apply. This team of experts that have been involved in several of the lawsuits will discuss the issues from both the insurance company and policyholder perspective. At the conclusion of the session, attendees will:
Country Relevance: U.S. Session Coordinator(s) Larry N. Stern, FSA, MAAA Facilitator(s) |
|
9:15 a.m. – 10:30 a.m.
Credits: 1.50 CPD Session Sponsor(s): Entrepreneurial & Innovation Section; Marketing & Distribution Section; Technology Section; Predictive Analytics & Futurism Section; SOA General Insurance Competency: External Forces & Industry Knowledge Moderator(s): William Rearden, ASA Presenter(s): Steve Fretwell; Anthony C. Laudato, FSA, MAAA; Michelle Priest; Ari Ramdial Experience Level: Beginner-Intermediate The presenters focuses on the more practical application of new digital and technological capabilities along the insurance value chain. The presenters will address areas of the business model that attract the most disruption. Discussions will include how technology is dramatically altering the traditional methods of operation. Attendees will have a better understanding of what areas within insurance will experience the most change from technology in the near future. At the conclusion of the session, attedees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Melissa; 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): Michael A. Hughes, FSA, MAAA Presenter(s): Sean L. Nossel, FSA, FIA; Esteban Ramiro Paez, FSA, MAAA; Jeremy Spier Experience Level: Advanced The presenters will provide an overview of the current life insurance M&A landscape, along with insight on leading practices and lessons learned in the deal and merger integration processes. Topics include:
The intended learning outcomes include the following:
Country Relevance: International Session Coordinator(s) Michael A. Hughes, FSA, MAAA Facilitator(s) Credits: 1.50 CPD Session Sponsor(s): Health Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Marc David Lucas, ASA Presenter(s): Marc David Lucas, ASA Experience Level: Intermediate-Advanced The value of a star gap varies by a Medicare Advantage plan's "natural state" and current state for each measure, its ability to close gaps through available interventions and tools, the compliance of an individual, and the likelihood of a plan to achieve a four star rating and the associated bonus and rebate. One star gap can mean millions or it can mean nothing. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Marc David Lucas, ASA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Health Section Competency: External Forces & Industry Knowledge Moderator(s): Brian N. Dunham, FSA, MAAA Presenter(s): Paul Luis Correia, FSA, CERA, MAAA; Brian N. Dunham, FSA, MAAA Experience Level: All New York State is introducing what will become the nation's richest Paid Family Leave (PFL) benefit beginning Jan. 1, 2018. This benefit, phased in over four years, will ultimately replace 67 percent of wages and last as long as 12 weeks. While PFL is already available in other states including CA, NJ and RI, New York is different; in other states, a state fund administers the program, but in New York all insurers offering Disability Benefits Law (DBL) coverage will be required to add a new and unpredictable benefit to their DBL contracts. Join us as we explore the pricing and financial statement implications of a program likely to impact nearly all group disability insurers doing business in New York State. At the conclusion of the session, attendees will be able to understand the PFL legislation, regulation, pricing and financial statement implications. Country Relevance: U.S. Session Coordinator(s) Brian N. Dunham, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): International Section Competency: External Forces & Industry Knowledge Moderator(s): David Sherwood Presenter(s): Elizabeth K. Dietrich, FSA, CERA, MAAA; David Sherwood Experience Level: Intermediate The International Association of Insurance Supervisors (IAIS) has continued development of the Global Insurance Capital Standard (ICS) with Version 1.0 implemented (in the summer of 2017) for confidential reporting to supervisors. The presenters provide background on the development of the ICS while also addressing differing viewpoints from industry and regulators on considerations and issues related to the standard. The presenters will detail the requirements of Global Insurance Capital Standard Version 1.0, discusses what is meant by confidential reporting to supervisors, and addresses preparations for version 2.0 due in 2019, which is expected to be more publicly available to stakeholders, rating agencies and investors. At the conclusion of the session, attendees will be able to:
Country Relevance: International Session Coordinator(s) Sara Veit Kaufman, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Joint Risk Management Section (CAS, CIA and SOA) Competency: Strategic Insight and Integration Moderator(s): Brian Joseph O'Neill, FSA, CERA, MAAA Presenter(s): Ted Bruntrager, FRM; Brian Joseph O'Neill, FSA, CERA, MAAA Experience Level: Intermediate Senior executives across industry have been increasingly concerned with not being blindsided by operational risk breaches. As they should be. History has shown that financial organizations that took their eyes off of their operational risk exposures have at times faced severe financial losses. But, while we are seeing greater attention being paid to operational risk industry wide, we are also seeing frustration with the ability to quantify operational risk, which, in turn, has organizations grappling with the problem of how to identify, measure, and mitigate it. Let's deep dive on aspects of operational risk from the practitioner's view point and see what can realistically be done to move the needle. At the conclusion of the session, attendees will have an:
Country Relevance: Non-Nation Specific Session Coordinator(s) Brian Joseph O'Neill, FSA, CERA, MAAA Facilitator(s) Credits: 1.50 CPD Session Sponsor(s): Long Term Care Insurance Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Robert K. Yee, FSA, MAAA Presenter(s): Matthew Hugh Morton, FSA, MAAA; Steven W. Schoonveld, FSA, MAAA Experience Level: Intermediate-Advanced Most linked LTC policies sold today are single premium policies. In order to reach a much larger audience, the sale of level premium products has grown in recent years. Such designs are considered to be advantageous for a number of reasons. This presenters describe the benefits of the level premium designs and presents the legal, design, marketing and implementation challenges. Potential solutions will also be discussed. At the conclusion of the session, attendees will gain appreciation of the potential value and challenges of a level premium LTC liniked policy design. Country Relevance: Non-Nation Specific Session Coordinator(s) Robert K. Yee, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD ; 1.50 Noncore EA Session Sponsor(s): Pension Section Competency: External Forces & Industry Knowledge Moderator(s): Larry N. Stern, FSA, MAAA Presenter(s): Jean-Marc Fix, FSA, MAAA; Sam Gutterman, FSA, CERA, FCA, FCAS, HONFIA, MAAA Experience Level: Beginner-Intermediate The presenters will give attendees an update on the latest science on aging such as efforts to treat aging as a disease, discussion of the genetic components of aging, and the impact of genetic and non-genetic factors on mortality. The presenters will also present views on how long humans can live. At the conclusion of the sessions, attendees will be able to:
Country Relevance: International Session Coordinator(s) Thayer (Chip) Miller Morris III, FSA, EA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD ; 1.50 Noncore EA Session Sponsor(s): Pension Section Competency: External Forces & Industry Knowledge Moderator(s): Brett Brooks Dutton, FSA, EA, FCA Presenter(s): Matthew W. McDaniel, FSA, EA, FCA, MAAA; Thomas William McNab, FSA Experience Level: Intermediate Pension modeling, the development of potential future financial outcomes for pension plans and their sponsors, is a critical component of the value that actuaries provide to their pension clients. Pension modeling is used for many purposes including budgeting, strategic planning and risk management. The presenters will seek to survey the wide and evolving range of approaches to pension modeling, addressing such questions as:
Although the presenters' primary work experience is with U.S. corporate defined-benefit plans, the content of the session will be general in nature in order to offer relevant insight across multiple regulatory frameworks (private/public sector, U.S./Canada, etc.). At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Drew Martin Luchies, FSA, FCIA; Brett Brooks Dutton, FSA, EA, FCA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: Professional Values Moderator(s): David C. Armstrong, FSA, MAAA Presenter(s): Nick Fiechter, FSA, MAAA; Maria Rose Itteilag; Donna Christine Megregian, FSA, MAAA Experience Level: All Discuss three important actuarial standard of practice (ASOP) exposure drafts titled: Pricing of Life Insurance and Annuity Products; Modeling; and Setting Assumptions; recently proposed by the Actuarial Standards Board. The draft Pricing of Life Insurance and Annuity Products ASOP "applies to actuaries when performing actuarial services with respect to the pricing of life insurance and annuity products, including riders, that will be sold in the future." The proposed Assumption Setting ASOP will "apply to actuaries performing actuarial services which include setting and/or assessing the reasonableness of assumptions." The proposed Modeling ASOP will "apply to actuaries in all practice areas performing actuarial services when selecting, designing, building, modifying, developing, using, reviewing, or evaluating all types of models that are not simple models." Actuaries use numerous models which have various applications (e.g. economic capital, GAAP reporting, pricing, etc.). It's important that the use of assumptions are appropriate in light of the model's intended purpose. Focused topics of discussion will address what these newly proposed ASOPs mean for the actuary. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Brock E. Robbins, FSA, FCIA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Reinsurance Section Competency: External Forces & Industry Knowledge Moderator(s): Peter A. Heinrichs, FSA, MAAA Presenter(s): Michael L. Emerson, FSA, MAAA; Marc-Andre Giguere, FSA, FCIA, MAAA; Jeremy Lee Lane, FSA, CERA, MAAA; Todd R. Watson, FSA, MAAA Experience Level: Intermediate The life and health reinsurance market has faced many headwinds, including regulatory changes, low interest rates, declining cession rates and competition from alternative sources of capital. Learn more about recent developments in the market for life, accident, disability and medical reinsurance from executives at leading reinsurers, and how this may impact insurers. The discussion will encompass individual and group coverages. The presenters will be composed of executives from U.S. life, accident and medical reinsurers, a basic knowledge of reinsurance will be assumed by the presenters. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Peter A. Heinrichs, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Smaller Insurance Company Section; Joint Risk Management Section (CAS, CIA and SOA); Financial Reporting Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Vikas Sharan, FSA, FIA, MAAA Presenter(s): Brody D. Lipperman, FSA, CERA, MAAA; Stefanie J. Porta, ASA, MAAA; Vikas Sharan, FSA, FIA, MAAA Experience Level: All The presenters will discuss some of the latest trends in model risk management (MRM) with focus on companies which are not required by regulators to validate the models. The session will start with an overview of typical MRM approaches used by fed-regulated organizations (which are required to undertake frequent validation exercises). The session will then discuss constraints and challenges faced by small to mid-sized companies when it comes to model risk management. The session will then offer perspectives on various aspects of model risk management, such as resourcing, validation approaches and independence of roles, that these companies can utilize in their organization to build upon a functional and successful MRM function. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Vikas Sharan, FSA, FIA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Taxation Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Brian G. King, FSA, MAAA Presenter(s): Craig R. Springfield; Jeffrey Thomas Stabach, FSA, MAAA Experience Level: All The presenters will cover recent developments affecting the federal tax qualification of life insurance, annuities, and other insurance products. The presenters will provide insight into how these products are taxed in the hands of policy owners and issues that may impact how companies develop and administer policy owner tax policy. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Tony Randal Litterer, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): SOA Research Competency: Technical Skills & Analytical Problem Solving Moderator(s): Mervyn Kopinsky, FSA, EA Presenter(s): Brian D. Holland, FSA, MAAA; Kevin P. Larsen, ASA, MAAA; Tony R. Phipps, FSA, MAAA Experience Level: All The Society of Actuaries' Individual Life Experience Committee will present the results of its latest mortality experience study. This study covers experience between 2003 and 2013 on fully underwritten life insurance policies. The results include experience split along multiple dimensions including duration, face amount bands, smoking status and underwriting class. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Cynthia MacDonald, FSA, MAAA Facilitator(s) |
|
10:30 a.m. – 11:00 a.m.
|
|
11:00 a.m. – 12:15 p.m.
Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Health Section Competency: External Forces & Industry Knowledge Moderator(s): Jeffrey Robert Huddleston, ASA, CERA, MAAA Presenter(s): Marc David Lucas, ASA; Chris E. Stehno Experience Level: All Electronic medical records (EMR), or electronic health records (EHR) as they are sometimes called, are rapidly gaining adoption across medical industries. The Health Information Technology for Economic and Clinical Health Act, part of 2009's American Recovery and Reinvestment Act, created a series of incentives, both positive and negative, to encourage adoption of EMR in the United States. EMR are now widely used by insurance plans, medical providers, pharmacies and many other medical industry stakeholders. EMR have the ability to significantly impact the insurance industry across a wide range of areas: health insurance, life insurance and retirement income and benefits. Join a forum from across these and other industries for a discussion on the potential impacts and disruptive capabilities that EMR possess. The forum will also address methods to quantify many of the benefits of integrated EMRs including: Documenting HCCs, which HCCs are likely to be identified, improved record retrieval rates, reduced record retrieval costs, reduced provider abrasion, and improved HEDIS/Star gap closure as well as methodologies to estimate "Critical Mass" for EMR integration. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Jeffrey Robert Huddleston, ASA, CERA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Health Section Competency: Results-Oriented Solutions Moderator(s): Gabriela Dieguez, FSA, MAAA Presenter(s): Maggie Alston, CHFP; Patrick Cunningham Experience Level: All Value-based contracts are an attractive alternative to traditional drug and device contracting for payers and risk-bearing providers as the industry moves from volume to value. However, these contracts require a significant amount of data analytics. The presenters will explore recent developments in value-based contracting with pharmaceutical and device manufacturers. It will present a framework for analyzing feasibility, identifying obstacles, and building a strong proposition around value-based contracts. The session is intended to meet the needs of actuaries who are or will be focusing on implementing value-based contracts for drugs and medical devices. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Gabriela Dieguez, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Investment Section Competency: External Forces & Industry Knowledge Moderator(s): Stephen G. Smith, FSA, MAAA Presenter(s): Eric Janecek, FSA, MAAA; Jeffrey Michael Laitinen, FSA, MAAA; Stephen G. Smith, FSA, MAAA Experience Level: Beginner A practical introduction to investments for actuaries working in the insurance space. The presenters will introduce the primary asset classes that insurers invest in, with a focus on the characteristics and risks of each. They will discuss asset allocation strategies and asset liability matching principles. Dialogue and questions will be encouraged throughout the session. The session is intended for actuaries with limited experience in the area of investments. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Kelly Lynn Featherstone, FSA, ACIA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Long Term Care Insurance Section Competency: External Forces & Industry Knowledge Moderator(s): John Bach Hebig, FSA, MAAA Presenter(s): Peggy L. Hauser, FSA, MAAA; John Bach Hebig, FSA, MAAA; Nicole Pittman, ACS, CLTC, J.D.,M.Ed. Experience Level: Intermediate-Advanced The LTC market of today is continuing to evolve from the market which we have seen in years past. As the market has evolved, recent regulatory changes have occurred which impact LTC valuation and rating. This presentation will aid LTC carriers in being abreast of all these changes. The session will also enlighten attendees on what is new in the LTC combination/linked benefit product market. At the conclusion of the session, attendees will be able to understand what new regulations are impacting the LTC industry and products are being sold in place of stand-alone policies. Country Relevance: U.S. Session Coordinator(s) John Bach Hebig, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD ; 1.50 Noncore EA Session Sponsor(s): Pension Section, Social Insurance & Public Finance Competency: External Forces & Industry Knowledge Moderator(s): Emily K. Kessler, FSA, EA, FCA, MAAA Presenter(s): Karen P. Glenn, FSA, EA, MAAA; Jean-Claude Menard, FSA, FCIA Experience Level: All U.S. Social Security program and Canadian Pension Plan (CPP) are facing multiple challenges and are expected to go through significant changes in the future. Changes in demographics accelerated by the aging of the Baby Boom generation, along with other factors, are expected to lead to funding issues for the U.S. Social Security program in the next two decades. The presenters will discuss the direction of the different potential reforms to face these upcoming challenges and their impact on both active and inactive populations. The presenters will also discuss the recent reform and expansion of the CPP; what were the drivers for it, the changes it brings and the higher costs related to its funding. At the conclusion of the session, attendees should be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Andre Claude Menard, FSA, EA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD ; 1.50 Core EA Session Sponsor(s): Pension Section Competency: External Forces & Industry Knowledge Moderator(s): Andrew J. Peterson, FSA, EA, FCA, MAAA Presenter(s): Justin D. Kear, ASA, EA; Tonya B. Manning, FSA, EA, FCA, MAAA Experience Level: Intermediate The presenters will provide an update on recent developments impacting U.S. retirement plans, such as regulatory and accounting guidance, new legislative proposals, recent court cases, and other retirement plan trends. Experienced pension actuaries will share their perspectives on these issues and discuss how plan sponsors will be impacted. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Andrew J. Peterson, FSA, EA, FCA, MAAA Facilitator(s) Credits: 1.50 CPD Session Sponsor(s): Predictive Analytics and Futurism Section; Health Section Competency: Strategic Insight and Integration Moderator(s): Brian D. Holland, FSA, MAAA Presenter(s): Richard Marshall Lagani Jr.; Pratyush Lal; Evan Morgan, ASA, MAAA Experience Level: All Practitioners from health, life and annuity product areas will give short presentations on building a successful PA operation, including successes and failures along the line from predictive modelers to final implementation. The presentations will be followed by a moderated discussion. There will be some prepared questions, with audience questions and participation highly encouraged. At the conclusion of the session, attendees will understand issues and solutions required to build a successful predictive analytics program or to make data-driven decisions. Country Relevance: Non-Nation Specific Session Coordinator(s) Eileen Sheila Burns, 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): Elena Stoyanova Tonkovski, FSA Presenter(s): Joshua David Dobiac; Elena Stoyanova Tonkovski, FSA Experience Level: All F.A.S.T. global forces affect our industry today compelling companies to come up with F.R.E.S.H. product ideas. The presenters will share examples from different parts of the world on how products are becoming more Flexible, Rewarding, Easier, Specialized and Holistic in response to the Financial, Authoritative, Social and Technological global forces. At the conclusion of the session, attendees will be able to compare different value propositions. Country Relevance: International Session Coordinator(s) Elena Stoyanova Tonkovski, FSA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Donna Christine Megregian, FSA, MAAA Presenter(s): Andy Ferris, FSA, FCA, MAAA; Stephanie J. Koch, FSA, MAAA; Jennifer L. McGinnis, FSA, CERA, MAAA Experience Level: All What does Inforce Management (IFM) mean to you? How can different product types be impacted by IFM? Companies price products and later assess how much the products are deviating from expectations and what that financial impact is to the company. With that assessment of financial impact comes the company decision to take action on the business where possible. That action can take a variety of forms including nonguaranteed element changes, premium changes on post level premiums for term product, and assumptions setting. The session will be an interactive forum that leverages the experiences and knowledge of the presenters and audience to discuss how the industry is managing inforce business. At the conclusion of the session, attendees will be able to:
If you are interested in further discussion on this topic, register for session 194 IF, Inforce Management Discussion Forum on Wednesday at 1:30-2:45. The forum includes a boxed lunch and there is a nonrefundable fee of $20. If you plan to attend you must register in advance to obtain a ticket. Attendance is limited to 50 people. Country Relevance: U.S. and Canada Session Coordinator(s) Donna Christine Megregian, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Reinsurance Section Competency: External Forces & Industry Knowledge Moderator(s): Dale J. Mensik Presenter(s): Lonny D. Meewes, FSA, MAAA; Chris Whitney, FSA, MAAA; Rebecca Marie Wilczak, FSA, CERA, MAAA Experience Level: Intermediate The presenters will explore the impact of PBR (principle-based reserves) on the use and viability of financial reinsurance, especially so-called redundant reserve financing of term life insurance and universal life insurance with secondary guarantees, and how financial reinsurance can help life insurance companies improve their product offerings and affordability of insurance products offered to their customers, particularly in the middle market. Presenters will discuss the past, present, and future of financial reinsurance and the changing regulatory landscape. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Rebecca Marie Wilczak, FSA, CERA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Technology Section Competency: Strategic Insight and Integration Moderator(s): Albert Jeffrey Moore, ASA, MAAA Presenter(s): Srinivas Pulijala; Paul Rivard; Matt Stack Experience Level: All The presenters will feature a leading expert of digital transformation in a panel format. Digitization will lead to the transformation of insurance along the value chain. There is much insight to gleam from looking at how industries approach their data management and digital strategies. One of our experts will explain how he has been using data to understand the formation of entire digital ecosystems and help clients take advantage of them. Drawing from their vast experience, the presenters will highlight the main trends in digital transformation, key players in the insurance industry, and concrete examples of adoption of technology across different cultures. At the conclusion of the session, attendees will have a broader perspective on digital trends and will gain a better understanding of the potential of transformation. Country Relevance: International Session Coordinator(s) Wendy Chiwen Liang, FSA, CERA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): SOA General Insurance Competency: Technical Skills & Analytical Problem Solving Moderator(s): Anthony E. Cappelletti, FSA, FCAS, FCIA Presenter(s): Alan Frith, Are, CCM, CPCU Experience Level: Beginner-Intermediate There exist catastrophe models for a number of natural and man-made catastrophes. Primarily, the output produced by these models are used by general insurers to determine their exposure to catastrophic events and assist the insurer in managing this risk (e.g., optimizing reinsurance). Reinsurers use the out to price reinsurance that covers catastrophes. However, the output from catastrophe models can be used for other purposes. During this session presenters will explore the use of catastrophe models by general insurance companies beyond its use as a tool for catastrophe reinsurance. At the conclusion of the session, attendees will be able to:
Country Relevance: International Session Coordinator(s) Anthony E. Cappelletti, FSA, FCAS, FCIA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD ; 1.50 Core EA Session Sponsor(s): Society of Actuaries Competency: Professional Values Moderator(s): Mike A. Boot, FSA, MAAA Presenter(s): Mike A. Boot, FSA, MAAA; David M. Dillon, FSA, MAAA; Joseph L. Wurzburger, FSA, MAAA Experience Level: All The actuarial profession is typically praised for its high integrity. How can actuaries maintain this professionalism with increasing workplace pressures? How can actuaries maintain awareness of the changing Actuarial Standards of Practice? Participants will explore the importance and role that professionalism plays in the everyday life of an actuary. Brief case studies will be used to highlight professionalism issues that may be encountered. The presenters will discuss the issues in each case study, and then the members of the audience will be actively solicited for their comments and insights. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Mike A. Boot, FSA, MAAA Facilitator(s) |
|
12:30 p.m. – 1:45 p.m.
Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): SOA Competency: Technical Skills & Analytical Problem Solving Moderator(s): Jennifer L. McGinnis, FSA, CERA, MAAA Experience Level: All As a follow up to session 188 IF, Inforce Management: Understanding and Increasing Its Value, join us for an interactive forum to further discuss Inforce Management in smaller groups. Discuss considerations and next steps for creating a specialized interest group for those with interest in this area. This will be great opportunity for sharing challenges and brainstorming solutions. There will be plenty of opportunity to network and share with numerous colleagues on this topic. The forum includes a boxed lunch and there is a nonrefundable fee of $20. If you plan to attend you must register in advance to obtain a ticket. Attendance is limited to 50 people. Country Relevance: U.S. and Canada Session Coordinator(s) Jennifer L. McGinnis, FSA, CERA, MAAA Facilitator(s) |