Description: Statutory and GAAP metrics are useful for regulators, investors, and other external parties who require a consistent basis for viewing snapshots of companies at a point in time, however, their uses are more limited for managers who are tasked with making strategic decisions. Many insurers are turning to internally developed metrics such as value of new business (VNB) for better profitability insights at the point of sale and to understand how new business profitability changes over time. By leveraging existing models and reporting processes, insurers can reduce the additional effort involved, applying VNB toward applications such as pricing, capital allocation, and risk management. Discuss key considerations for developing and using VNB. Begin with a brief overview of VNB, including how VNB addresses specific shortcomings of Stat and GAAP. Next, discuss applications of VNB for life and annuity business and conclude with some implementation case studies.

Description: Reinsurance transactions have become increasingly common in the annuity market as means to reduce risk, improve pricing, release capital, or exit a line of business. The market has become increasingly complex as it has grown. Insurance carriers and reinsurance providers now need to keep up with a growing range of reinsurance structures to manage their business efficiently. This session will detail the different types of annuity reinsurance transactions currently being executed in the market, the costs and benefits of different approaches, and recent trends in reinsurance structuring. At the conclusion of the session, you will understand the basics of how annuity reinsurance is being used in the market today as well as how to understand and evaluate potential reinsurance transactions.

Description: The program is divided into three independent, but related, modules. The Communication Skills Module is intended for new and more experienced actuaries. It includes a variety of highly interactive sessions on topics such as influencing strategies, simplifying complex information, presentation skills, and professional brand.

Description: View and download the report "Predictive Analytics and Machine Learning – Practical Applications for Actuarial Modeling (Nested Stochastic)" in Simplified Chinese.

Description: Actuarial functions are being asked to do more with less: being challenged to provide more value to the business through applying insight and foresight. This article examines ways in which actuaries can provide business insights with very limited investment. The article provides actionable steps that actuaries easily apply to their daily work.

Description: Generative artificial intelligence (AI) tools like ChatGPT will redefine the nature of work across industries in coming years, What does this mean for the actuarial profession? Delivering generative AI tools to actuaries capable of leveraging them effectively will dramatically modernize how actuaries work and contribute to organizational growth. In this educational session, explore how generative AI can accelerate actuarial model development. Gain an introduction to generative AI and its implications for actuarial modeling. Learn how it specifically helps actuaries improve accuracy, reduce errors and save time in model development. Then explore use cases, including how generative AI can improve data cleaning, model building, as well as simulate scenarios and test model robustness. Close with a discussion on how to integrate generative AI into actuarial modeling workflows effectively, including common challenges actuaries may face during implementation and tips to overcome them. You will come away with a deeper understanding of how generative AI can accelerate actuarial model development.

Description: Focus on the importance of achieving complete and accurate technical reviews of work products that contribute to decision making. As actuaries, we often face tight deadlines and the demand is high for our team members to provide results in a timely manner. Through investing upfront time into a quality review of our work product, with an added focus on professional excellence and ethics, overall time savings can be gained and an overall higher quality work product can be achieved, not only of the technical work being performed, but of the decision making that is influenced by the result of the work. At the conclusion of this session, you will be able to understand the value of technical reviews and the methods of preparing for and implementing technical reviews across a team.

Description: There are many underwriting issues being discussed in states that challenge how information is used in the underwriting process. Learn more about a variety of rules and regulations, including Colorado's proposed regulation requiring a governance and risk management framework for life insurance carriers' use of external consumer data and information sources, as well as algorithms and predictive models using such data. Recent proposals are more far-reaching than existing requirements in states that have put up guardrails for the use of new data sets and algorithms, especially for underwriting. Listen in as experts discuss the potential issues and implications of this and other proposed regulations.

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.