Description: This article examines potential approaches to the calculation of the risk adjustment component, with a focus on a case study related to a UL product.

Description: The world is changing at an increasing pace and is disrupting everything from how one orders goods and services to how they take a taxi or Uber. Increasingly, this disruption is affecting the work of actuaries. Moreover, actuaries are being asked to provide more value-added services. Not only is this requiring actuaries to leverage exponential technologies not traditionally used in the insurance industry, but it is also impacting the types of staffing and training models utilized by actuaries. With a broader trend to alternative workforce arrangements, such as the gig economy and crowdsourcing, how will actuaries transition to this new future of working? What are the different types of off-balance sheet workers? How can companies create a strategy to deal with the hybrid workforce that involves different types of workers, cross-country borders, and other changes? This session will outline how actuaries and actuarial functions can successfully prepare themselves for this change.

Description: Describes the characteristics employers look for in actuaries-with the theme that all start with the letter C.

Description: Since the issuance of IFRS 17 in 2017, the global insurance accounting standard, insurers across the globe have been making huge investment in assessing the impact and implementing the new standard. In late 2018, FASB issued ASU 2018-12 that revises key elements of the U.S. GAAP measurement models and disclosure requirements for long-duration contracts issued by insurers (also called FASB Targeted Improvements). Both standards are becoming effective 1/1/2021 (though IFRS 17 may potentially be deferred by a year). U.S. insurers that have international parents or subsidiaries, and report under a multi-GAAP environment will likely have to adopt both standards. By now most insurers should have nearly completed impact assessment for IFRS 17, designed road map for or have started the implementation journey. With the new U.S. GAAP requirements becoming effective concurrently, it is important to embark on the implementation journey with both standards in mind, and maximize the synergy to achieve cost-saving and design efficiency. This session will briefly introduce the two standards with a conceptual comparison, along with a discussion on where efficiency and synergy can be achieved in a concurrent implementation.

Description: Tips on developing actuaries using Bruce Arians real life examples developing quarterbacks as a comparison.

Description: This article will focus on introducing where IFRS17 differs from US GAAP conceptually, and key aspects of this paradigm shift from actuaries’ perspective.

Description: Feature article discussing the current International Accounting Standards Board IASB Exposure Draft ED. A model of 10 year level term life insurance is use to demonstrate the amortization of residual margin. Residual margin is to be set at issue as the amount which offsets any gain at issue that would otherwise be recorded after accounting for fulfillment cash flowd and an explicit risk adjustment.

Description: Full version of The Financial Reporter, Number 41, February 2000.

Description: Full version of The Financial Reporter, Issue 62, September 2005.

Description: One of two articles in this issue about actuaries serving as expert witnesses.