Time: 1:30 – 3:30 PM CT Join PolySystems and the Society of Actuaries for our highly sought-after series of virtual reserves seminars on Generally Accepted Accounting Principles (GAAP) in Long Duration Targeted Improvements (LDTI).
Time: 1:30 – 3:30 PM CT
Join PolySystems and the Society of Actuaries for our highly sought-after series of virtual reserves seminars on Generally Accepted Accounting Principles (GAAP) in Long Duration Targeted Improvements (LDTI).
This seminar will open with a brief overview of GAAP LDTI and then discuss the complexities of GAAP LDTI for health insurance, including some emerging issues related to GAAP LDTI for health insurance products. Through case studies and spreadsheet examples, attendees will gain a better understanding of new LDTI requirements, the impact of those requirements and the developing practice being established to address challenges brought about by LDTI.
The Advanced LDTI for Health Seminar will focus on the long-tailed nature of health benefits and explore the following topics of emerging interest:
· How is the LDTI benefit liability calculated?
· Historical vs projected future benefits
· Claim reserves, ICOS/claim liability and IBNR
· Seriatim vs aggregate claim reserves
· Allocation of claim reserves and/or IBNR
· Discount rates for claims incurred prior to the transition date
· Waiver of premium
· Projected future benefit liability
With GAAP LDTI, the devil can be in the details, and attendees will be exposed to topics they might not have previously considered. A limited amount of time will be available at the end of the session for questions submitted via the presentation app.
Topics will be illustrated with comprehensive worksheet examples. Course material, consisting of a set of presentation slides and spreadsheet files, will be distributed via email prior to the seminar.
Advanced LDTI Reserves for Health
· GAAP LDTI: Health Benefits
· GAAP LDTI: DAC / VOBA Amortization
· Interactive / Questions
PolySystems develops and maintains actuarial software solutions for life, health, and annuity insurance products that are used in over 100 companies for financial reporting and modeling requirements, including valuations, projections, experience studies, source of earnings, and most recently, the new FASB regulations pertaining to GAAP LDTI. Our team of experienced actuarial consultants routinely helps PolySystems clients with critical implementation projects including data management and model design, validation, and testing.
As an industry leader in U.S. reserving methods and techniques, PolySystems has been cosponsoring this Reserves Seminar with the Society of Actuaries (SOA) for over a decade. PolySystems has 100 actuaries and IT professionals working in Chicago, New Jersey, and South Carolina to meet actuarial software needs at both the product and enterprise level.
The SOA is the largest global professional actuarial organization. With unmatched research and education, and more than 30,000 of the highest skilled actuarial professionals, we prepare the individuals trusted to drive better business decisions and promote financial security in an ever-changing world.
Chris Zuiker, FSA, MAAA, is a vice president in PolySystems Chicago office and has more than 20 years of experience in the insurance industry. Zuiker works on the client and consulting team, where he is responsible for software support and implementation. He has supported several companies with valuations, projections, cashflow testing, and experience studies for LTC, disability, and other health business.
Below is information regarding the pricing of the event, how to register and payment options. If you have any questions about any of the information, please reach out to Customer Service.
Individual Registration (one access code – no broadcasting)
Company Rate – 3+ from the same company **
** You may select from the drop-down option if 3 or more people from your company are attending. If you need to confirm eligibility for this discounted, rate please email Lisa Collins at firstname.lastname@example.org
- Log in instructions
- One access code to the live virtual event
- One set of presentation materials
- One Internet connection for streaming only
- Full payment is required at the time of registration.
- Register online, via credit card, received no later than the registration close date. An order confirmation of your registration will be sent by email.
- Refunds will not be issued.
- The SOA is considered a not-for-profit corporation in Canada and therefore needs to collect applicable taxes. Based upon your primary residency or company address, the appropriate tax will automatically be calculated for you during the online registration process.