Maintenance: The SOA will be performing scheduled maintenance of our Actuarial Directory and Explorer servers on Thursday, April 25th, 2024 from 5:00 AM to 2:00 PM CT.
Long-Duration Targeted Improvements (LDTI) necessitate that insurance companies create actuarial models for their FAS 60 life insurance products. In order to build cohort level cashflows to calculate LDTI FAS60 GAAP reserves, companies are in the process of reviewing data sources and data practices. In this session, you will learn best practices for extracting, managing and using the policy data to develop into life insurance actuarial models. A variety of data governance and control practices used when extracting policy data from administration systems will also be covered. Recognizing areas of good communication is important to acquire data that is necessary to build a quality model. Though the LDTI process is in its infancy, we can begin to learn from the work around us. Case studies, best practices, as well as challenges and pitfalls when setting up and governing data processes, will be discussed.
Learning Outcomes:
Attend this session and you’ll:
Be able to set up proper data governance and control practices.
Be able to locate the ideal data sources and appropriately test and review data for accuracy.
Be empowered by learnings from real life case studies.
Be equipped to create quality level cohort data for LDTI models.
Track: Cultivating Future Opportunities
1.20 SOA CPD
1.00 CIA