Description: 2021 ImpACT Conference - Session 3A: Cyber: How Many Risk Categories Does it Cross? 10.26.21 Recording

Description: 2021 ImpACT Conference - Session 1A: Implementing LDTI - What Have We Learned? 10.25.21 Recording

Description: This session explores the far-reaching changes to how clinical data will be sourced, processed and consumed in many payer use cases including risk adjustment, quality measurement, care management, claims adjudication, prior authorizations, and other payer functions. Robust, interoperable data exchange is a prerequisite for value-based care. Clinical data will be increasingly accessible to augment administrative (claims) data via standardized Fast Health Interoperability Resources (FHIR, pronounced 'fire'), at a fraction of the cost of a accessing a traditional medical record and in real-time. On May 1, 2020, HHS issued a final rule implementing interoperability and the patient access provisions of the 21st Century Cures Act of 2016, although enforcement has been delayed into 2021 because of the COVID-19 pandemic. The new regulations promote, “HHS’s vision and strategy for achieving a health information ecosystem within which all individuals, their personal representatives, their health care providers, and their payers are able to send, receive, find, and use electronic health information in a manner that is appropriate, secure, timely, and reliable to support the health and wellness of individuals through informed, shared decision-making, as well as to support consumer choice of payers and providers.”Once enforcement begins, CMS and the Office of the National Coordinator for Health Information Technology (ONC), have the authority to mandate adoption of interoperability requirements, and also penalize payers and providers for non-compliance or the delay and withholding of data.This ‘digital transformation’ of the clinical data ecosystem has far-reaching implications for enabling technologies including Natural Language Processing (NLP) and entire segments of services and vendors. It will eliminate many departmental barriers, duplication and error sources for health plans and impact every department and the underlying economics of delivering and managing care.

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: The emergence of technology to advance data visualization has helped uncover hidden insights in our data that was previously difficult to do. Designing engaging charts and crafting gripping stories through visualization has never been easier. This session will focus on understanding the fundamentals and considerations when deploying data visualization and selecting the best data visualization tool. Additionally, the course will provide an example of creating advanced data visualizations using Power BI.

Description: With the COVID-19 pandemic racing through the world, SOA researchers have created an insightful analysis of the current situation. Hear how actuaries have been able to provide near real- time insights into the pandemic and its impact on society.

Description: Living benefits (GLWBs) in fixed index annuity products are typically accounted for under SOP03-1 under current GAAP guidance. LDTI requires companies to classify these riders as Market Risk Benefit (MRB). This webcast focuses on challenges and considerations of the MRB implementation. Industry practices of the reserving approach will be shared during this webcast, as well as hedging and pricing implications.

Description: Emerging Tools & Technologies - Data Transformation & Warehousing Webcast 8.12.20 Recording

Description: The working life of actuaries has become faster paced, more complex, and potentially more volatile than in any previous period in the history of the profession. Furthermore, actuaries are increasingly being asked to expand their roles into areas that lie beyond the traditional space associated with the actuarial profession. As a result, actuaries are increasingly finding themselves faced with professional and ethical dilemmas for which there is little precedent to rely for guidance. Take part in a guided discussion about three real-world case studies where actuaries were required to make difficult decisions. We will see how by remaining calm and leaning on the ASOPs, actuaries were able to navigate professional and ethical pitfalls despite pressure from key stakeholders. Each case study will highlight actuaries working in different areas within the industry. Some examples may include: - Case study 1: An actuary working for a direct insurer finds a last-minute error during a busy production cycle. - Case study 2: An actuary working for a reinsurer finds themselves under pressure to apply an unrealistic assumption. - Case study 3: An actuarial consultant is under pressure from a non-actuarial client to perform work in a way that would not comply with actuarial standards. By attending the session, you will: - Understand how to lean on the ASOPs to keep cool during stressful situations. - Manage deadlines and expectations. - Balance risk and reward, and remain true professionals, no matter how hot the fire.

Description: The war for actuarial talent is intensifying, amplified by an existing mid-level talent gap and increased competition from outside industries. As insurers continue to experience “Great Reshuffle,” effectively retaining junior and mid-level actuaries and growing them into future leaders is vital for long-term success. Actuarial leaders must be strategic in how they demonstrate commitment to their employees’ futures and proactive in providing clear career pathing and development opportunities within their organizations. Discuss common characteristics and expectations of younger generations, the skillsets essential for tomorrow’s leaders, the role professional development plays in retention, and ways to effectively support their growth and advancement to build long-term loyalty. Gain insight into specific actions to maintain open and honest conversations with your teams, uncover employees’ career aspirations, and grow vital interpersonal skills among high potential employees to foster a bench of future leaders who can think beyond the numbers and provide broader enterprise impact. By attending the session, you will:•Understand the values and characteristics common to younger generations, while recognizing and emphasizing individual needs.•Uncover how to identify and support individual employee’s professional aspirations to increase retention.•Identify the skills that separate good actuaries from great leaders and how they can be developed.•Leverage strategies and tools to grow future leaders and help close the mid-level talent gap within their own organizations.