Description: Highlight the importance of assigning granular policyholder behavior assumptions to cohorts of a block that behave differently for universal life products. The case study assumption testing will focus on potential cash flow impacts of surrender, lapse and premium persistency behavior— individually and combined. The case study will be based on testing data related to typical demographics for a ULSG product and not on any specific company data.

Description: The Society of Actuaries will be offering this webinar series intended to educate and investigate aspects of life insurance, annuity, and long-term care product tax compliance. Developed by the Taxation Section, participants will be brought up to date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC) and allow ample opportunities for questions and information exchange. This session will provide an intense introduction to the basics of product taxation, with a focus on life insurance and the requirements of Section 7702A.

Description: Gain a clearer understanding as a provider and a payer discuss the insights gained from being involved in value-based care. Learn about the payer's perspectives on how to develop a value-based contract, the negotiation process and the support they provide the provider. Discover the provider's perspectives on how value-based contracts have impacted them, the analytics they are developing and the collaboration with the payer.

Description: Walk through real-life examples of how artificial intelligence can be used to drive insights and aide actuaries in improving the management of their company’s inforce book of business. A panel of experts will walk through case studies of how, as practitioners, predictive analytics provided solutions to tap further into their data and draw improved insights.

Description: Review the introductory study note for the Fall 2024 Quantitative Finance and Investment Investment Risk Management (QFIIRM) Exam.

Description: Hear about the new hope biosimilars bring in helping payers and patients manage the rapidly growing pharmacy spend. The Big Event, encompassing multiple Humira biosimilars, launches in 2023 and could set the tone for how much biosimilars can be expected to contribute to solving our pharmacy spend challenges. What will be the financial impact of the Big Event and this coming wave? What can be done to maximize adoption of biosimilars? What strategies are available to maximize savings for payers and patients?

Description: There is a clear consumer need for long-term care (LTC) coverage. Combo life/LTC products sought to meet that need when stand-alone LTC coverages became more difficult and more expensive to get. Combo life/LTC are built to be more sustainable, allowing for more alignment of interests between the policyholder and insurer. However, combo life/LTC are typically on a universa life (UL) chassis with extensive secondary guarantees, and several were withdrawn from the market in the recent past because of very low interest rates. A couple of carriers have used the variable UL chassis which are still in market. Interest rates have also risen dramatically. The opportunity may be present for innovation in this area that leads to sustainable products. Join the conversation as experts in this area discuss the strengths, weaknesses, opportunities and threats in developing and marketing these products.

Description: Guarenteed Minimum Benefits of type x (GMxB) riders under ASU 2018-12, the Long Duration Targeted Improvements (LDTI) guidance, are now classified as Market Risk Benefits (MRBs). There are several acceptable approaches for calculating the MRB balance on a block of GMxBs. Depending on the product provisions, certain approaches may be more desirable than others. IThis session will give you the opportunity to examine different strategies for calculating the MRB liability for GMxB riders under LDTI.By the end of the session, you will understand the pros and cons of the several approaches permitted for calculating the MRB balance on a block of GMxBs.

Description: The tape has finally been broken on live reporting with International Financial Reporting Standard 17 (IFRS 17). The insurance industry across much of the world now pivots focus from implementation efforts to assessing disclosed impacts of the new global standard. During this session, the presenters will explore how equity positions are changing for companies after adopting IFRS 17, particularly given the recent interest rate environment.

Description: In light of recent regulatory developments and international best practices, the Bermuda Monetary Authority has introduced proposed enhancements to the Bermuda regulatory framework for long-term commercial insurers. During this panel discussion, discuss the potential impacts of these proposed regulatory changes for existing commercial insurers and new entrants to the Bermuda life reinsurance market.