2024 SOA ImpACT Conference - Session 4B: ASOPs and Beyond: Best Practices for Setting Assumptions in 2024 10.29.24 Recording

Setting credible and reliable assumptions and margins has always been crucial for ensuring the integrity and reliability of actuarial projections. Decades of collective industry experience alongside the ASOPs gives actuaries substantial guidance around assumption-setting; however, the ever-evolving landscape of the insurance industry necessitates the revision of our understanding on what it means to follow 'best practices.' Join us for an insightful session on best practices in setting assumptions and margins for Life and Annuity Products. This session will explore traditional best practices outlined by the ASOPs as well as their application in the context of emerging trends and risks in 2024, such as predictive analytics and AI. The session will also cover evolving trends in assumption governance, as corporate ERM areas become increasingly involved in the assumption setting process. Learning objectives include refreshing and enhancing knowledge of existing ASOPs, as well as understanding strategies for emerging risks that the ASOPs do not yet cover.