2025 SOA Health Meeting: Session 3G: Enhancing ERM - Practical Applications of ASOP 46 and ASOP 47 -06.23.25- Recording

This session will provide invaluable insights into a health plan's ERM program, specifically focusing on ASOP 46 and ASOP 47. Connecting these standards to real-world practices will demonstrate an ERM control cycle in which risks are identified, evaluated, and managed effectively. The session will cover critical aspects such as determining risk appetites, setting risk limits, and performing risk mitigation activities.
We will explore the practical application of risk evaluation, including models, economic capital, stress testing, emerging risks, and other key assessments. Attendees will learn how actuaries utilize tools like economic capital models and stress and scenario tests to assess risks in various contexts. We will also discuss the key considerations involved in these evaluations, such as time frames, methods used, assumptions, and types of risks.
Additionally, we will provide insights into how actuaries review and recommend risk mitigation strategies, designing processes to align with an organization's risk tolerance, appetite, and limits. This session will contribute to Actuarial Professionalism credits by covering the essential components of ASOP 46 and ASOP 47.