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: Almost half of recent FDA approvals have been for orphan drugs. This trend is expected to continue in 2023. Orphan drugs are priced more than 30 times higher than non-orphan drugs, therefore their cost burden in aggregate has the potential to overwhelm the budgets of payers, especially that of smaller health plans. Hear how the cost impact analysis for smaller health plans require different considerations than for a larger health plan when modeling the impact of rare diseases.

Description: The frequent use and complexity of today's actuarial projection models has increased the importance of having efficient models. Model optimization can reduce both cloud costs and overall end-to-end clock times, thereby allowing companies to do more with less such as reducing close times, increasing controls, enhancing analysis, doing more complicated calculations, and/or improving employee workloads during the close. From design and data to execution and audit, come explore techniques that can be applied throughout the actuarial modeling process to optimize actuarial models for improved run-time, accuracy, and reliability. There will be a focus on techniques that don't rely on model compression. Topics covered include model design pitfalls, data handling, improving convergence on asset-liability projections, strategies for interacting with the cloud, and other tips for optimizing actuarial models.

Description: This paper provides actuaries with background and scientific knowledge to understand global climate change and climate model projections for the 21st century.

Description: The COVID-19 pandemic has had an impact on all aspects of daily life and its impact extends to how disability incidence may play out in the future. Product profitability will be shaped by how morbidity patterns, interest rate levels and other key drivers will play out into the future. In this session, our panel will discuss COVID’s impact on IDI morbidity experience as observed over the past 18 months, offer comparisons and insights in light of other insurance lines of business, and share emerging information on the on-going effects of Long COVID. Highlights will also include how regional differences and implications for insurers as the industry moves further into the COVID vaccine era.

Description: 2021 ImpACT Conference - Session 5D: Data Science: The New Frontier for Evaluating Digital UW Evidence 10.26.21 Recording

Description: Health Insurers commonly face challenges regarding data including: Limited knowledge of how to handle large datasets Lack of a common language to discuss data challenge Limited understanding of how to use data and analytics to inform and facilitate decision-making We are seeing a turn in the market to use data and analytics to cultivate an insights-driven culture. But we are noticing a disconnect between the actuaries that are able to glean these insights and the new technologies required to handle the amount of data available to them. During this session you will look at moving from MS Excel to more advanced data handling and modeling tools (e.g., Alteryx), visualization tools (e.g., Power BI & Tableau) and expanding utilization of these tools and analytics. By attending this session, you will: • Understand data and analytics (D&A) concepts, methods, and fundamentals to help drive value. • Gain an appreciation for data privacy, protection protocols, and related ethical considerations when working with data. • Be able to identify of how to use data and analytics to inform and facilitate decision-making.

Description: Recent developments in automation capability have opened the door to improvements in the way that companies are able to monitor compliance with Internal Revenue Code (IRC) Section 7702. Further automation of Section 7702 testing allows for less input, more policy testing, and significant reductions in manual processes and risks associated with them. As technology has improved, and computing power become virtually limitless, the insurance industry can take advantage of these new technologies to improve and enhance 7702 capabilities. The result can be an easier, faster and more comprehensive process that will be more scalable across products. By attending the session, you will: - Understand the basics IRC 7702 calculations and computational limitations on traditional solutions. - Identify the features that make low-code/no-code solutions unique and their uses in an actuarial context. - Apply the pros and cons of low-code/no-code (LCNC) solutions in a 7702 context.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: Discover the rapidly developing health and wellness industry during the Use of Health and Wellness Data in L&H Risk Assessment webcast. Our discussion includes the maximization of data usage through several different means, including current risk selection, creation of a dynamic ongoing assessment offering or substitution of traditional underwriting information to shorten the underwriting process. Come explore these different approaches as they affect the health and wellness industry. We will express the importance of a constantly changing data usage environment in order to better prepare insurers to maximize their data and drive health and wellness forward.