Description: Accelerated Underwriting – Two Studies (Delphi and SOA Survey)

Description: After the bid process, desk review, rebate reallocation, an “enjoyable” audit, and open enrollment; the Medicare plan year starts. Throughout the year, organizations find it pertinent to get an accurate picture of their Part D liability as reinsurance, LICS (Low Income Cost-Sharing) subsidy, and risk corridors are accrued. Attendees will learn about the basics of Part D accruals, how future accrual amounts are estimated based on patterns in the data, and how bid assumptions versus actual results impact plan sponsor profitability. We will also discuss financial statement treatment of these items. Real-life examples from bids to outcomes will be provided to enhance the discussion. Ultimately, attendees will come away with a deeper understanding how their bid assumptions play out, and how they can use Part D accruals to plan for future bid development.

Description: US pharmacy prices have entered a new era of growth driven by Specialty medications. A bevy of state and national regulations have been proposed to address pharmacy pricing, industry structure and transparency.Health actuaries will learn about US pharmacy pricing structure and how proposed legislation could affect future costs. Actuaries that have responsibility for pharmacy rate/budget setting, RFPs or trend projection will benefit from a deeper understanding of the US pharmacy market landscape and gain an international perspective.

Description: We will determine the role of risk function in evaluating operational risks associated with the implementation of LDTI and any system conversions. Are all models validated by the risk function before they are productionalized and results used by management to make business decisions? Does the risk function play a part in to assist finance, actuarial and investor relations in communicating changes and volatility resulting from LDTI? If not, should it? We will articulate the role that risk functions play in being part of large transformation from the start as a stakeholder/input provider to subsequently being an independent reviewer (i.e., second Line of defense).

Description: Hear an update on the Product Development Section's initiatives over the past year while enjoying a hot breakfast.

Description: James Glickman delivers his general session speech at the SOA 2019 SOA Annual Meeting & Exhibit in Toronto.

Description: Milliman Risk Score will now consider an applicant's Rx and Credit Data. RGA has developed a comprehensive DHD platform and scoring algorithm to transform raw DHD into actionable underwriting assessments. Both new tools will be presented.

Description: "Visual storytelling is frequently used to effectively convey complex actuarial concepts to our clients and other audiences. When talking about data visualization, we often focus on the explanatory aspect. But data visualization is also a crucial tool in developing insights from large and complex data sets at every stage of data analytics spectrum: • descriptive (what happened?), • diagnostic (why it happened?), • predictive (what will happen?), • and prescriptive (how do I influence what will happen?). In exploratory and modeling stages of data analytics’ project, we let the data tell the story or explore our intuition and hypothesis through data pictures. We demonstrate the power of visual display in healthcare data analytics through vivid examples from the healthcare case studies. These illustrations of data visualization exploratory power range from assessing the quality of data or examining outliers, to exploring variables’ relationships and trends, to hypothesis testing, to guiding in feature selection and models’ comparison and evaluation, to model validation. Throughout these illustrations, we will discuss principles of graphical effectiveness, excellence and integrity."

Description: The presenters will describe how the new IFRS 17 requirements will impact the profitability of ULSG products. This could have a significant impact for companies who will be reporting financials based on IFRS 17. The shift from US GAAP to IFRS 17 will likely increase the volatility in IFRS earnings, which may prompt companies to explore potential product changes.

Description: You’ve built or updated a predictive model. Is it any good? How can you interpret and understand its predictions? How does it compare to alternative models? This session will look at traditional and non-traditional ways of validating predictive models, with examples from case studies.