Description: It has been a little over a year since the release of the Society of Actuaries (SOA) Research Institute's Mortality Improvement Model, MIM-2021. Since then, waves of COVID-19 have continued to occur in the U.S. The uncertainty around the COVID-19 pandemic and the slowing of U.S. general population mortality improvement prior to the pandemic are just a few of the reasons that make developing MI projection scales difficult. Uncoverthe results from intercompany surveys on mortality improvement, including one that addresses COVID-19, discover insights from a mortality expert panel on COVID-19 and future mortality, and discuss enhancements to MIM-2021. By attending the session, you will: - Understand MIM-2021 and 2022 enhancements. - Understand SOA Research Institute activities around COVID-19 and impact on mortality improvement. - Apply research results and insights presented to daily work.

Description: En el seminario hablaremos sobre los nuevos flujos de tarificación, y nos enfocaremos en la inclusión del análisis geográfico en el proceso de modelado para optimizar la extracción del riesgo en modelos de Machine Learning.

Description: Back in the day, when data was scarce and computers were slow, actuaries were forced to use simple methods to account for risk. By far, the most common method was to add a margin, usually 5% to a “best estimate” calculation. Remarkedly, this method still works quite well in the aggregate. The problem is that, in many cases, decisions today require a more in-depth analysis. For example, how big a risk is a health plan really taking if it lowers its premiums by 10% to attract more members? This session will discuss techniques for measuring risk in today’s environment. Speakers will also share the results from the 5/50 research project, which forms the foundation for the techniques.

Description: "Hear AM Best rating analysts discuss the rating process and the best capital adequacy ratio (BCAR), a quantitative foundation for AM Best’s assessment of carriers’ financial strength. The benchmarking of BCAR scores for various company types (national MCOs, BCBS plans, smaller regional plans) will be discussed. Look at how changes in investment and underwriting environment impacted the results over the past several years. Further, AM Best’s view of the quality of capital and various factors impacting the overall assessment of the balance sheet strength will be discussed. By attending this session, you will: Gain an understanding of AM Best’s building block approach to ratings and how the BCAR results fit into the process. Learn the differences between RBC and BCAR models. Learn how various factors—e.g. liquidity, financial flexibility, financial leverage, the org structure—impact the final AM Best assessment of health companies' capital."

Description: With the mandated health plan transparency files, health plans and providers are now able to substantially enhance their provider contracting efforts. Although the files are large and cumbersome they are market disruptors and provide new insights for provider contracting efforts. Explore a demonstration on the type of information now available and how it can be used to enhance this from both a health plan and health care provider perspective.

Description: Model runtime is a common challenge for actuaries in the life and annuity space. In particular, applications such as pricing and forecasting may require the use of nested-stochastic calculations, which may require extensive computing resources or use of rough approximations. There are also other areas where runtime may be a challenge, such as projecting certain reserves or layering solving algorithms within actuarial calculations. Recently, runtime challenges have been exacerbated by the development of increasingly complex insurance products and changes in reporting frameworks, such as IFRS 17, LDTI, PBR, and Solvency II. Many approaches have been explored by actuaries in the past to address model runtime challenges. To further this research, the SOA has recently published the paper Predictive Analytics and Machine Learning - Practical Applications for Actuarial Modeling. The authors of the paper will share their insights on innovative techniques using the implementation of artificial intelligence and machine learning (AIML). Come examine an introduction into AIML, review how AIML can be used to circumvent nested stochastic and other runtime challenges, explore case studies, review how costs and benefits can be measured and discuss model risk management considerations. Key learning objectives include: - Understanding the fundamental concepts of AIM - Understanding applications of AIML for actuarial modeling - Learning about the costs and benefits - Learning how AIML can be applied in practice to improve model runtime

Description: The life insurance industry has a lot going on. Come discover some key highlights of the life insurance market mixing quick hits with some in-depth conversations about the headlines and hard lines happening in the life insurance sector. Topics include underwriting, regulation, product changes and distribution to name a few. If you enjoy the PTI show for sports, you will enjoy hearing about the life insurance industry in this format and hosts will run down the headlines of the insurance industry in PTI fashion.

Description: This report provides a toolkit for actuaries and other interested parties to model and forecast mortality by cause and socioeconomic factors.

Description: Panelists at this session at the SOA 1998 Maui I Spring Meeting present methods and models for determining policyholder behavior with respect to lapses and interest rates in order to value liabilities and embedded options in life and annuity products.