Announcement: SOA congratulates the new ASAs and CERAs for November 2024.

Session Categories

Session Categories

Actuarial Professionalism

Behavioral Finance and Economics

Bias

Business Intelligence/Healthcare Economics

Care/Case/Disease Management

Dental

Disability/Group Life Insurance

Financial Reporting/Reserving

Individual/Small Group/ACA

International Health

Large Claims/Stop Loss/Reinsurance

Large Group

Long Term Care

Medicaid

Medicare

Mental Health/Substance Use

Pharmacy

Policy Related Topics

Price Transparency

Provider Payment

RBC/Surplus/ORSA

Regulatory Issues

Research

Risk Adjustment

Soft Skills

Supplemental Benefits

Technology/Innovation

Telehealth

Other (if other, they are asked to specify)

Skills-based Learning Topics

Data Science, Data Analysis and Predictive Analytics

  • Extract and transform information from databases.
  • Identify data sources.
  • Understand and inform database design as it pertains to actuarial work.
  • Test, validate and clean data for use in analysis.
  • Identify and explain conclusions that emerge from data analysis.
  • Demonstrate superior analytical skills; the ability to take large amounts of complex information and synthesize it into something meaningful.
  • Have working knowledge of Excel, database, and statistical analysis language.
  • Provide data analyses that support management decisions.
  • Understand common uses of new or emerging analytical methods.
  • Understand key concepts in developing data sets for predictive modeling.
  • Apply key concepts in developing data sets for predictive modeling.
  • Perform predictive modeling using GLM and nonlinear methods.
  • Understand the use and limitations of unsupervised machine learning.
  • Know at least one relevant tool such as R or Python language to perform predictive analytics.

Actuarial Modeling and Analysis

  • Perform actuarial analysis and modeling, including but not limited to reserves, pricing, and forecasting.
  • Perform an actual to expected analysis of results.
  • Perform actuarial analysis and modeling, including pricing and forecasting.
  • Perform experience studies and assist in development of pricing, projection, or valuation assumptions.
  • Create, build, update, enhance, run, validate, and document actuarial models.
  • Perform ad hoc actuarial analysis.

Risk Management

  • Analyze, interpret, and present numerical data related to pricing, reserves, and other actuarial analysis.
  • Ensure proper documentation and controls of all work and models, including pricing assumptions, processes, methodology, and results.
  • Knowledge of pricing, valuation and/or financial reporting standards, systems, and processes.
  • Analyze data and present analysis in a format appropriate for pricing, loss reserving, product development, reinsurance, and other financial analysis.
  • Perform periodic risk and sensitivity analyses.
  • Perform industry research to establish actuarial assumptions and methodologies used in pricing, reserving, or forecasting models.

Pricing and Product Development

  • Perform pricing and profitability analysis for a wide variety of actuarial solutions.
  • Support the design and pricing of new products and/or coverages.
  • Understand technical pricing, product development analytics and performance measurement.
  • Perform pricing and profitability analysis of all products, including analysis of results, reconciliation and attribution of changes, communication of results to management, and detailed documentation.
  • Adapt pricing methodologies and models for innovative new products and benefits.
  • Be responsible for technical pricing, product development analytics and performance measurement.

Valuation and Financial Analysis

  • Provide mathematical and technical support in the management of actuarial products.
  • Calculate, analyze, report, and explain reserves and other actuarial financial statement items.
  • Assist in preparing the actuarial portion of financial statements following GAAP, statutory or tax reporting principles, or the applicable international principles.
  • Provide valuation support by interpreting financial results and variances from forecast to help identify emerging trends to assist in risk management of the financial security system.
  • Plan, develop, and evaluate financial security system pricing, valuation, reserving and/or financial reporting actuarial needs.
  • Support the timely reporting of reserves and other actuarial input into the monthly, quarterly, and annual financial reporting process.

Business Skills for Actuaries

  • Effectively interact with other professionals.
  • Bridge analytics and business decision making.
  • Work as a team member, while contributing technical and actuarial content.
  • Collaborate across actuarial and non-actuarial teams.
  • Understand the drivers of profit and loss.
  • Sort through a business problem and determine the issues that must be addressed.

Generating Business Insights

  • Explain model results.
  • Understand and communicate variations in predicted outcomes.
  • Respond to actuarial questions and requests.
  • Provide actuarial support to key stakeholders including management, board, internal auditors, external auditors, etc.
  • Deliver simple, summary level, financial models that effectively communicate business issues and risks.
  • Apply actuarial techniques to analyze, interpret and classify risks and communicate results to more senior actuaries.

Communication and Influencing Informed Decision Making

  • Communicate actuarial results to managers and leadership.
  • Communicate technical information to an audience in a way that they understand the information.
  • Communicate technical information to an audience in a way that they understand the information.
  • Communicate complex financial models to management in a way that enables them to understand risks and opportunities.
  • Effectively communicate information to various audience levels and recognize the level of the audience in each situation.
  • Condense complex actuarial calculations and risk analyses and present them to others so that they understand the relevance.
  • Understand Tableau language and/or other tools to prepare data visualizations that enhance the presentation of results.

Professionalism and Business Ethics and Diversity

  • Demonstrate being morally sensitive to ethical dilemmas in business and identify ethical issues in actuarial work.
  • Keep abreast of the Actuarial Code of Conduct and the Actuarial Standards of Practice.
  • Meet actuarial qualification standards to issue Statements of Actuarial Opinions.
  • Understand how a diversity, equity, and inclusive culture creates a culture of belonging.
  • Understand and mitigate biases that may exist in data, assumptions, and models that impact actuarial services.