Description: Find out how actuaries can use the principles of microservices, which are fundamentally important for improving outcomes for actuarial modernization initiatives. This presentation is NOT worried about Mmcroservices technology itself, but, microservices have properties that actuaries can mimic and replicate to make business processes be more efficient, more timely, and easier to maintain and govern. Focus on how you can incorporate software engineering concepts into help solving actuarial problems without concerning yourself with software engineering technology.

Description: Data science, predictive analytics and AI are certainly the buzzwords these days. They are heavily used and developed in underwriting and marketing but for most actuaries, they might/may as well be science fiction. The presenters will demonstrate how a normal actuary can utilize data science techniques in their daily job function without forming an official data science team within a company. It can be done in a gradual fashion so that normal business is not disrupted and improvements are made over time. The usage of data science techniques will include demonstrations of the following areas: - Regression analysis - Economic scenario generator - Experience study - Data quality checks - Inforce compression for explicit hedging

Description: A brief discussion on the importance of governance and documentation being in place. The article provides some resources to assist in the development, and the reasons behind having it in place.

Description: This paper presents a unifying non-Bayesian statistical method for incorporating prior information into the determination of probability distributions and other finite measures and develops the statistical properties of this method together with actuarial applications. A discussion of the paper follows. From Transactions of Society of Actuaries 1991, Vol. 43.

Description: Actuaries are Known as highly ethical. Data Science poses ethical challenges for our profession.

Description: This training session will include lessons learned in 2021 and revisit a presentation given last year, discussing the new Actuarial Standard of Practice (ASOP56), which fills in the gap for guidance on Actuarial Modeling. Prior to ASOP 56, actuarial judgement reigned where standards and guidance lacked. Learn the foundation for designing, developing, modifying and validating a model according to SOA guidelines. By attending this session, you will: • Learn how to identify model’s intended purpose. • Strategically extract input data and assumptions. • Use the level of detail required in output data as a consideration for model design. • Choose from SOA recommended validation techniques.

Description: "Modern actuarial work, being quite data intensive, provides many opportunities for actuaries to use the statistical skills that are part of their basic training. Furthermore, modern computing allows us to analyze vast quantities of data intensively and each package will provide statistical answersto any questions the actuary might ask of it. However, in this particular field, it is often worth taking a step back, and ensuring that we recall and consider the warnings that come with each of the statistical procedures we might attempt to use. This will allow us to ensure that we guard ourselves against drawing inappropriate conclusions, which could come back to haunt us later. By attending the session, you will: - Avoid drawing inappropriate statistical conclusions, while doing their work. - Leave informed about the types of pitfalls that exist and where those might come into play in actuarial work."

Description: This is an article that discusses Nassim Nicholas Taleb’s work and its significance for actuaries.

Description: Data is at the core of the actuaries' role within companies, but how can actuaries translate data insights into informed and actionable decision making? The key is communicating data insights into a language that transcends analysis and enables real-time decisions that can provide an advantage to your management team. Learn an approach to choosing a tool or medium for your data insights, questions to ask yourself to better understand the communication necessary, and perspectives on how actuaries can take a larger role in actionable decisions within the industry. Understand availability, quality, and practical application of data sources health actuaries can access easily, how that data looks, approaches to transforming data into decisions, how it enriches administrative and claims data, and applications to pricing and reserving. Finally, discuss implications of ASOP 23, ASOP 41, and ASOP 56 as it relates to this topic. By attending this session, you will be able to: - Create an action plan on how to transform data into messaging for your leaders. - Use real experiences to formulate a strategy to expand the actuaries' role in informing decisions within the industry, including examples, to illustrate how data can benefit financials of health coverages. - Understand the application of ASOP 23 (Data), ASOP 41 (Communication), and ASOP 56 (Modeling) as it relates to turning data into decisions. - Be knowledgeable about new sources of morbidity for medical care and LTC and how to acquire and apply this information in actuarial models.

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.