Description: Innovation in technology is being leveraged throughout the entire customer journey. The presenters will focus on solutions that affect both the client experience, the productivity of the agent and the efficiency of the life company. Some InsurTech companies that have developed solutions across the value chain - beginning with front-end solutions to improve the productivity and expertise of agents. These include cloud-based product illustration, advanced sales concept systems, financial calculators, e-applications and e-signature technology. Solutions that improve the efficiency of policy underwriting and issue include automated underwriting systems, expert requirement systems and underwriter workbenches. Finally, solutions that automate inforce policy management and compliance include anti-money laundering AI systems, in-force illustration systems to satisfy annual statement compliance and claims processing systems. There is a race to gain competitive advantage by getting to a digitally transformed future first.

Description: Learn how modernization of data, models, and technology are influencing workflows. This webcast will address how workflows are changing in response to new regulatory requirements and the impacts the changes have on modeling and end-to-end future state operating models. Industry leading actuaries will discuss: How team collaboration can increase quality and speed of reporting to internal and external stakeholders How to strengthen controls and compliance frameworks across finance and actuarial departments How to modernize actuarial input/output for strategic analysis and insights How to attract and retain top talent by improving opportunities for actuaries There will also be dedicated time to ask questions of those who have made the transition.

Description: At the end of December 2020, Congress enacted the Consolidated Appropriates Act, 2021, which included revisions to Section 7702. Effective for policies issued after December 31, 2020, the fixed 4% and 6% minimum annual effective rates under these tests were changed to refer to a market-based rate called the “insurance interest rate”. For contracts issued in 2021, the insurance rate was set to 2% - defined as the lower of the Section 7702 applicable federal interest rate based on the 60-month period ending December 2019 (2%) and the Section 7702 valuation interest rate in effect for 2020 (3.5%). This reduction in the rates used for compliance testing required significant product, operational, and technology changes for companies to reach product compliance. After 2021, the insurance interest rate is redetermined annually with a minimum change floor.

Description: How do you go about designing a new product? Behavioral Science is an often overlooked tool in enhancing product design and using a Discrete Choice Experiment (DCE) can give you insights to customer preferences and their willingness to pay for features. The result of this work is a product explicitly designed with your customers and market in mind.

Description: Eager to learn more about what an InsurTech is, how they operate in the insurance ecosystem and how actuaries can participate in this ecosystem? Join actuaries, InsurTechs and participants in the ecosystem to discuss the recent research report on InsurTechs by the SOA. At the conclusion of the session, attendees will be able to: • Know more about InsurTechs and how they operate • Understand how insurers work with InsurTechs • Discover how actuaries can participate in this ecosystem • Learn practical lessons from both InsurTechs and actuaries This session is presented by the Entrepreneurial & Innovation Section.

Description: Is your development team or IT staff growing tired of last-minute requests to include additional functionality? Have you strained to explain challenging actuarial topics to non-actuarial staff for implementation? Do your teams find themselves revisiting deadlines & timelines when building solutions? During this interactive panel discussion, three technologists (two software engineering managers and one data scientist) along with three actuaries will discuss real world problems and approaches using experience from previous projects. Although the challenge of running efficient software teams is not unique to actuarial science, this webcast will discuss best practices on how to organize teams to reduce friction and context switching. Presenters will also explore unique actuarial challenges and concepts including how to address standards on data quality when building software, how to build intuitive software that meets actuarial standards and how test-driven development makes it easier to meet actuarial standards of practice.

Description: Electronic health records (EHRs) are one of the fastest-growing digital health data categories, with over 90% of carriers using or evaluating EHRs for underwriting, according to a recent Munich Re survey. This session brings you up to speed on the current (and future) state of EHRs.

Description: Digital savvy consumers are demanding a change in the way they engage with their insurance carriers. As smartphone owners utilize their devices for financial management more than ever, insurance carriers aim to create a similar seamless digital strategy, offering customers a personalized experience on multiple platforms. Cloud-based applications also enable productivity, accountability and innovation in the insurance industry. Discover avenues of customer engagement through digital platforms, including new technologies and products, and why the value of data and data science is critical for business, such as adaptability, marketing and insightful pricing. Presenters will also touch on: - managing retention and lapses through data-driven continuous improvement cycling - high-level system architectures illustrating how multiple applications (front/mid/back office systems) will integrate with each other and share connected data example data points being captured within various marketing systems - data collection within various digital platforms - data science applications that help with business growth, retention, lapsation, effectiveness and cross-sell/up-sell opportunities, and the implications to actuarial functions - value and risk to carriers in the new digital paradigm

Description: Join us for an exciting session as Actuarial Innovation & Technology Strategic Research from the SOA's Research Institute unveils two recently published research reports: ""Unveiling the Life Insurers' Actuarial Transformation Journey and the Impact of Analytics"" and ""Exploring Revolutionary Advances in Underwriting: An Initial Assessment of Epigenetics, Medical Tests, and Wearables"". In the first report, we delve into the evolving landscape of life insurers' Actuarial Transformation efforts, shedding light on their future prospects and emphasizing emerging Advanced Analytics techniques. The second report serves as the inaugural installment of a series dedicated to identifying promising innovations for underwriters and actuaries, and it promises to alert the SOA to the latest developments. During this session, our presenters will provide an insightful overview of the key findings and key takeaways from both research reports. By the end of the session, attendees will gain a deeper understanding and appreciation for the invaluable research conducted in these areas.

Description: Discover the benefits of building a shared business model during the Building Digital Platforms: Insurtechs, Carriers and Reinsurers webcast. This is an educational event for the actuary interested in product and channel innovation, in addition to those wanting to understand how to juggle competitive incentives in the market. Representatives from Insurtechs, insurance carriers and reinsurers will discuss their distribution development and product capabilities for marketing insurance products on digital platforms, as well as their collaboration throughout the process.