Description: From session 14TS at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000. This teaching session discusses the available tools for communicating company risk postures to senior management. The focus is on tools that show distributions of results rather than a point estimate, along with stress testing.

Description: From a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 The panel discusses: 1 Financial modeling tools used by the actuarial profession, 2 Pricing techniques used by Wall Street financial analysts, 3 Advantages and disadvantages of each approach 4 Market implications of each approach, and 5 Potential for harmonization of the two techniques.

Description: Presented at May 2000 Spring Meeting. Discusses trends affecting costs for prescriptions, factors behind these trends, and cost management strategies for both the commercial and Medicare markets.

Description: In session 120 PD of the Las Vegas Spring Meeting panelists discuss new developments and strategies related to provider contracting. What changes in the risk-sharing arrangements are occurring? What contracting methodologies have been successful and what ones have not? From Record of Society of Actuaries, Volume 26, No. 1.

Description: From a session at a meeting of the Society of Actuaries held in Las Vegas, NV May 22-24, 2000 The panelists cover: 1 The basic concepts underlying fuzzy logic, 2 Current applications to risk classification and pricing and 3 Future possible uses of fuzzy logic.

Description: From a session at a meeting of the Society of Actuaries held in Las Vegas, NV May 22-24, 2000 The American Academy of Actuaries had put together an ad hoc task force charged with developing a long-term strategic approach for marketing the profession to future users of actuarial services and to strategically position and strengthen the profession. This session provided an update on the progress of the task force.

Description: Policymakers often turn to elaborate computer models to assess the effect of proposed changes in Social Security or pension laws and regulations. At this session, descriptions of these models and their methods are presented, including a review of the models' capabilities and limitations. The potential for use by actuaries in connection with these models is also discussed. From Record of Society of Actuaries, Volume 26, No. 1.

Description: Presented at May 2000 Spring Meeting. Discusses the public policy issues regarding access to health insurance coverage. In particular, the speakers focus on the problem of the uninsured and on the debate of shifting from a primarily employer-sponsored financing of health-care coverage to an individual market system or greater government subsidies.

Description: Presented at May 2000 Spring Meeting. Many long-term-care insurers are outsourcing administrative functions to management organizations. The panelists discuss the reasons for this outsourcing, the functions that can be outsourced, financial incentives for vendors, criteria for selecting a vendor, monitoring performance and other aspects of the business relationship.

Description: Panelists discussed the implications of the growing trend in Canada toward demutualization of mutual companies into stock companies. Topics covered include: 1. The Canadian demutualization process and some interesting differences between companies and across borders. 2. How is eligibility determined? 3. What process is being used to determine allocation of shareholder value? 4. What mechanisms are in place to protect policyholders' reasonable expectations? 5. What internal and financial structural changes are driven by demutualization? 6. How financial markets assess stock value for companies operating internationally.

Description: 1999 SOA Annual Meeting, San Francisco. The panel discussed how the actuarial profession may contribute to the quantification and management of various types of risks that insurers and other financial service providers assume.

Description: 1999 SOA Annual Meeting, San Francisco. This panel expanded on earlier research to examine the potential costs of long-term guarantees, transfer risk modeling techniques, and the formulation of practical strategies to manage investment accumulation products.

Description: 1999 SOA Annual Meeting, San Francisco. Presenters addressed the skills needed by actuaries to compete for business opportunities leading to advancement, and describe one company's approach to the issue. Skills discussed: 1. Communication. 2· Management. 3· Crossover . 4· General insurance knowledge. 5· Leadership.

Description: Presenters discuss effective interviewing techniques which focus on applicant ability and willingness to do the job, as well as manageability once on the job. From the Record of the Society of Actuaries, Vol. 25, No. 3.

Description: Presenters examined the importance of good data management in the current competitive marketplace. Analysis of your data can be split into three components: 1. Are you getting the quality and timely data? 2. Are you able to process it? 3. Are you able to use the information?

Description: Presenters discuss worldwide issues and trends in which actuaries may be involved and the implications of these issues and trends on the actuarial profession worldwide. From the Record of the Society of Actuaries, Vol. 25, No. 3.

Description: This presentation from Session 111OF of the SOA 1999 San Francisco Annual Meeting covers the new medical technologies and how they affect the price of medicine, the delivery of health care, the cost of care, claims handling, utilization, and cost management. From the Record of the Society of Actuaries, Vol. 25, No. 3.

Description: 1999 SOA Annual Meeting, San Francisco. This panel explored ways in which disability insurance underwriting guidelines must be closely linked to product design and sales methods. Panelists discussed a number of specific issues, including emerging illnesses, the protective value of various testing procedures, the role of financial underwriting, and the links between product, price, and underwriting.

Description: Presenters gave their projections and analysis on demographic trends and longevity prospects going into the next century in important countries. They analyzed the factors influencing the expected trends and comment on what these trends will mean for the financial services industries and the actuarial profession around the world.

Description: The panel examined the trend of a large proportion of new and in-force business being ceded by direct-writing companies into the reinsurance marketplace. Questions addressed: 1. Is there a difference of opinion on mortality assumptions between the reinsurer and the direct writer? If so, who's right? 2. If the reinsurer is right, what are the implications to the direct writer? 3. If the direct writer is right, what are the implications to the reinsurer? 4. Are there other driving forces behind the large amounts being ceded?

Description: Presenters examine some of the difficulties created by the absence of worldwide generally accepted accounting principles. Topics covered: 1. The need for worldwide Generally Accepted Accounting Principles, accounting, and reserving standards. 2. The work being done by the International Accounting Standards committee and the International Organization of Securities Commissions.

Description: 1999 SOA Annual Meeting, San Francisco. The panelists provided a brief description of the guaranteed benefits offered on Variable Annuities in both the U.S. and Canada, followed by an in-depth comparison of current issues, including risk assessment, reserving, and cash-flow testing.

Description: 1999 SOA Annual Meeting, San Francisco. The panel considered the new European Union and the challenges and opportunities it offers for American insurance and financial institutions. Topics included: 1. Investment challenges and opportunities in the new European Empire. 2. Impacts on the insurance and pension markets. 3. Increased competition from European companies. 4. Hedging with the new currency.

Description: 1999 SOA Annual Meeting, San Francisco. Presenters discussed the proposed NAIC model regulations dealing with guaranteed investment contracts. Covered topics: 1. Products subject to regulations. 2. Reserving methodologies described in the regulation. 3. Assumptions. 4. Required actuarial certifications.

Description: Panel examines ideas to enhance the relationship between the actuarial profession and the academic community. From the Record of the Society of Actuaries, Vol. 25, No. 3.

Description: The presenter examined the concept of customer intimacy as a way to maintain a viable position in a competitive market. He then develops the concept of customer intimacy as a way to maintain a viable position in a competitive market. Finally, he covers the information, product/delivery, organizational, and performance measurement strategies that a company should follow to achieve customer intimacy.

Description: 1999 Valuation Actuary Symposium, Los Angeles. This session provided a brief overview of a variety of financial reporting topics most of which were discussed in more detail at later sessions. Topics included: 1. NAIC Life and Health Actuarial Task Force developments and directions. 2. XXX Implementation Status. 3. New annuity valuation tables. 4. Statutory codification project. 5. AAA developments, including practice notes. 6. Unified Valuation Systems. 7. FASB and SEC developments. 8. Recent tax developments.

Description: This presentation is an open forum, session number 8OF, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists explore risk quantification from multiple perspectives, including: value-at-risk techniques and their application in the financial services industry, internal risk-based surplus formulas, and an NAIC Risk-Based Capital [RBC] Update. They discuss the application of existing and emerging risk evaluation techniques to one’s company or client circumstances. Discussion from participants is included.

Description: 1999 Valuation Actuary Symposium, Los Angeles. This session discussed issues of particular interest to valuation actuaries in smaller insurance companies. Topics included: 1. Regulation XXX. 2. Actuarial Guidelines 33 and 34. 3. Illustration actuary. 4. Current regulatory proposals. 5. Proposed new Section 7 requirements. 6. C-3 RBC Based on Cash-Flow Testing. 7. Use of outside consultants.

Description: This presentation is a Teaching Session, number 38TS, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The instructors provide an introduction into how complex adaptive systems [CAS] can be applied to solve actuarial problems. They provide a general overview of CAS, including genetic algorithms, neural network, nonlinear modeling, and agent-based modeling, provide recent examples of applications to business problems, and discuss how CAS approaches can be used to address actuarial pricing and valuation issues, such as modeling customer behavior. Discussion from participants is included.

Description: This presentation is an open forum, session number 44, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists respond to questions submitted prior to the session, as well as questions from participants during the session. A wide range of valuation questions are considered, including topics related to product tax and tax reserves, secondary guarantees, cash flow testing, and various statutory reserve issues.

Description: This presentation is a panel discussion, session number 7PD, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists discuss how in practice there is considerable variation from company to company in the functions that fall within the corporate actuary’s role. They discuss variations in corporate actuarial functions, and corporate actuaries’ role in their company’s management structure. The panelists explore trends in the role of the corporate actuary, and what makes for an effective corporate actuarial function. Discussion from participants is included.

Description: This presentation is from session number 36, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. Today’s low interest rate environment has helped spark enthusiasm for new investment vehicles with a potential for higher returns than more traditional asset classes. The panelists discuss structured securities, convertible bonds, mortgage backed securities, and other investment vehicles.

Description: This presentation is a panel discussion, session number 26PD, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. Noting that many of the largest and most widely publicized insurance acquisitions today are made with stock rather than cash or other considerations, the panelists discuss the advantages and challenges for both the buyer and the seller in stock acquisitions. They also discuss current GAAP guidance for purchase accounting, including a just released exposure draft from the Financial Accounting Standards Board [FASB]. Discussion from participants is included.

Description: This presentation is from session number 4, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. Noting that under U.S. GAAP, setting assumptions and accounting practices can have a significant impact on the earnings process [i.e., actual results, sources of earnings, and the earnings analysis process], the panelists address options available to the actuary for setting assumptions and defining practices for specific product types [both FAS60 and FAS97], the advantages, disadvantages, and practical considerations associated with each approach, and specific examples of the effect of the different approaches on earnings. Discussion from participants is included.

Description: This presentation is an open forum, session number 37OF, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. A panel of regulators share their perspectives on valuation actuary related issues, including the hot issues from a regulatory concern, their attitudes on relying on the judgment of company actuaries, their assessment of how the valuation actuary concept is working, comments on peer review, and comments on the NAIC Life and Health Actuarial Task Force. Discussion from participants is included.

Description: This presentation is an Interactive Forum, session number 20IF, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists discuss the American Academy’s Valuation Task Force and its committees working on the proposal to revise the Standard Valuation Law, referred to as the Unified Valuation Law [UVL], to update participants as to the status of the committees’ work. They provide a description of the activities currently taking place, and an update of where the revisions process stands and what the next steps are. The current system versus what is proposed are discussed, including concerns of regulators. Discussion from participants is included.

Description: Given that actuaries use models for statutory projections, GAAP projections, budgeting, corporate planning, and product pricing, often different models are used for each one of these activities leading to the possibility of assumption and model mismatch for several similar projections. The panelists discuss considerations in determining whether to integrate current models, and to maximize the potential of current models for multiple purposes. They also provide suggestions on how to integrate.

Description: 1999 Valuation Actuary Symposium, Los Angeles. This session focused on how the industry has responded to the financial management challenges associated with Equity-Indexed products. Topics included: 1. Investment hedging and market volatility. 2. Product modeling. 3. Participation rate competition. 4. Product evolution. 5. GAAP for Derivatives - FAS 133.

Description: This presentation is from session number 3, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists address specific asset modeling issues of current interest, including purpose of model considerations, dynamic reinvestment strategies, and less than rigorous modeling of asset optionality.

Description: This presentation is from session number 43, presented at the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. Increasingly, many insurance companies are enhancing the regulatory cash-flow testing for quantitative analysis of their operations. Enhancements include adding new business, extension of the New York 7 scenarios, and other ways of getting value in addition to compliance. Panelists discuss how widespread the practice of leveraging cash-flow testing is to create a strategic, quantitative tool to support management decision making.

Description: Panelists discuss what they are seeing in today's market in respect to HMO group products offered to employers alongside their individual Medicare product. From the Record of the Society of Actuaries, Vol. 25, No. 2.

Description: This presentation, session number 79PD, took place at the 1999 Spring Meeting of the Society of Actuaries, held June 16-18 in Seattle. The panelists examine the history, growth, and the purpose of mutual life insurance companies, and the current interest in demutualization and the formation of the mutual holding company. They look at the current changing conditions—legal, economic, and market, and the search for alternative ways to access the capital markets. Topics include company management, advisors, regulators and their concerns, and recent activities among supporters and opponents of mutual company structure. Discussion from participants is included. From the Record of the Society of Actuaries, Vol. 25, No. 2.

Description: Panelist discuss issues relating to new medical technologies and how these are going to affect the practice of medicine, the delivery of care, the costs of care, the insuring of care, claims handling, utilization, and cost management. From the Record of the Society of Actuaries, Vol. 25, No. 2.

Description: Panelists discuss various managed care strategies and their experiences with how well these strategies have been implemented in the individual and small group market. From the Record of the Society of Actuaries, Vol. 25, No. 2.

Description: From session 63 PD at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999, panelists discuss current issues including adoption status and proposals for various regulations critical to product development efforts. Impact of XXX on product design and reserves is also discussed. From the Record of the Society of Actuaries, Vol. 25, No. 1.

Description: From session 75CS at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999, Presenters identify issues and challenges faced by the valuation actuary when performing cash-flow testing on equity-indexed and variable products.

Description: 1999 SOA Regional Meeting, Atlanta. In this session experts from the regulatory environment and from the insurance industry discussed whether the public interest is best served by the states or the federal government being the primary regulators of insurance or some system of bifurcated regulatory authority shared between the states and the federal government.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Equity-indexed products require an asset strategy that matches the equity options embedded in the liability. The panel discusses the following: A. Two asset strategies 1. Purchasing equity options that match the liability options: Is this a perfect match or are there still unhedged risks? 2. Dynamic hedging using the mathematics of “the Greeks”: Is it self-insuring? B. Accounting issues with these strategies

Description: From session 74PD at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999. Panelists explore the features, uses, and market for buyers of survivorship life products.

Description: This presentation, session number 7PD, took place at the 1999 Spring Meeting of the Society of Actuaries, held May 24-25 in Atlanta. Panelists discuss proposed new U.S. and Canadian requirements and ramifications for variable annuities with guaranteed minimum death, income, and maturity benefits. Ways to assess and reduce the economic risk, reserves, and capital requirements are also discussed. From the Record of the Society of Actuaries, Vol. 25, No. 1.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists address a range of issues related to product development in life insurance companies.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists discuss the process of selecting outside investment managers.

Description: This presentation, session number 90PD, took place at the 1999 Spring Meeting of the Society of Actuaries, held May 24-25 in Atlanta. The last two years witnessed a proliferation of guarantees on variable annuities and competing investment products: guaranteed living benefits and death benefits on variable annuities, as well as mutual fund death benefits and Canadian segregated funds. “To estimate costs of these benefits, companies have moved away from stochastic modeling to capital market pricing approaches. A panel of experts identify the various risks associated with these guarantees, provide an overview of the different pricing methodologies used in determining the costs, discuss whether companies are charging enough for these risks, and forecast the next wave of guarantee designs.” From the Record of the Society of Actuaries, Vol. 25, No. 1.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panel examined the failure of three major life insurance companies in North America: Executive Life, Mutual Benefit, and Confederation Life, changes that have taken place in the aftermath of these failures, and the likelihood of future failures.

Description: 1999 SOA Spring Meeting, Atlanta. This session addressed the risks and potential costs of long-term guarantees in some insurance products. Topics included: · Guaranteed annuity purchase rates - how close are current rates to the guarantees? · Guaranteed minimum credited rates. · Guaranteed bonus rates.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists discussed a comprehensive risk management approach to quantify the risk exposure from various sources.

Description: From session 60PD at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999, Panel examines a range of issues surrounding the organization of the actuarial department of an insurance company.

Description: 1999 SOA Regional Meeting, Atlanta. In this session on financial performance measurement in life insurance companies, the panelists discussed: 1. Value-added financial analysis. 2. Performance management using transfer pricing. 3. Investment benchmarking.

Description: From session 77IF at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999, panelists explore the workings of the Actuarial Standards Board.

Description: Table of Contents for the May 1999 Spring meeting of the Society of Actuaries

Description: This 1998 presentation from the 33rd Actuarial Research Conference reports on a number of activities related to the relationship between the actuarial profession and the academic community, including: 1. feedback received during the related session at last year's Actuarial Research Conference, 2. some the results from the SOA Research Effectiveness Task Force survey, and 3. recent developments such as the joint CAS, CIA, SOA Task Force on Academic Relations.

Description: 1999 SOA Annual Meeting, San Francisco. This panel discussion dealt with several new product types and the accounting profession's efforts to provide guidance. The five product types below do not fit neatly into the rules set forth in Statement of Financial Accounting Standards 50 and 97: 1. Variable annuities with guaranteed living benefits. 2. Equity-indexed products. 3. Market-value-adjusted annuities. 4. Annuities with a front-end bonus feature. 5. Investment contracts with no significant source of profit other than interest spread.

Description: In session 132 PD of the New York Annual Meeting panelists discuss the content and status of the draft NAIC Actuarial Guideline ZZZ and the work of the AAA Task Force on Variable Products with Guaranteed Living Benefits. The Black-Scholes option pricing method is also covered. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: In this session 36OF of the New York Annual Meeting panelists discuss and compare the risk management practices used by insurers and by banks. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: At this session 138OF of the New York Annual Meeting panelists provide a brief history of the unified valuation system concept, including objectives, and discuss intended users of the output from the system. A progress report on the proposed valuation law is also presented. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: Panelists provide an overview of risk-based capital requirements. Also discussed are shortcomings and proposed changes currently under consideration. Practical issues with the implementation of these ideas are also presented. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: In session 32 IF of the New York Annual Meeting the panel discusses the ongoing consolidation at the domestic and foreign levels of the financial services industry, and the ensuing need for an international accounting standard. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: In session 131 PD of the New York Annual Meeting panelists discuss ways to maximize the usefulness of value-added methodology, especially the leveraging of value-added information. From the Record of the Society of Actuaries, Vol . 24, No. 3.

Description: In session 3PD of the New York Annual Meeting the panel discusses solutions such as data software and interface standards as possible solutions to the problem of having many different data storage and analysis systems that don't speak to each other. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: 1998 SOA Annual Meeting, New York. Panelists discussed the activity of the newly emerging mutual holding company structure. Advantages and disadvantages of a MHC structure were addressed.

Description: At this session 4PD of the SOA Annual Meeting in New York the panel discusses issues stemming from an AAA study of valuation and insurance in 14 countries on 5 continents, and what the U.S. could learn from these findings. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: Presenter of session 48OF of the New York Annual Meeting discusses the psychology of investing. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: This panel at the SOA 1998 New York Annual Meeting discusses current developments in the market for long-term-care insurance including underwriting, regulatory activity, pricing and plan design.

Description: In this session 94PD of the SOA Annual Meeting in New York the panel examines the communications link between the technical world of actuarial measurement based on cash-flow testing and the real world or daily and strategic decision making at top levels of insurance companies. From the Record of the Society of Actuaries, Vol. 24, No. 3.