Description: Recent developments in automation capability have opened the door to improvements in the way that companies are able to monitor compliance with Internal Revenue Code (IRC) Section 7702. Further automation of Section 7702 testing allows for less input, more policy testing, and significant reductions in manual processes and risks associated with them. As technology has improved, and computing power become virtually limitless, the insurance industry can take advantage of these new technologies to improve and enhance 7702 capabilities. The result can be an easier, faster and more comprehensive process that will be more scalable across products. By attending the session, you will: - Understand the basics IRC 7702 calculations and computational limitations on traditional solutions. - Identify the features that make low-code/no-code solutions unique and their uses in an actuarial context. - Apply the pros and cons of low-code/no-code (LCNC) solutions in a 7702 context.

Description: In the light of growing adoption of AI in life insurance and with it a growing emphasis on the need to safeguard the data used against reidentification,traditional approaches to de-identifying data mitigate these risks but often fail to protect against more sophisticated attacks. Find out more about data anonymization methods, geographic differences in regulation (PIPEDA, HIPAA) and special considerations when dealing with particular data types By attending the session, you will: Gain knowledge of various data anonymization techniques and understand the differences in how data anonymity is defined across different regulatory schemes.

Description: The National Association of Insurance Commissioners (NAIC) is in the middle of a project to change the real-world economic scenario generator (RW ESG) prescribed for principle-based reserve and capital calculations. Explore a brief summary of the NAIC's RW ESG project and gain a general overview of RW ESGs. Learn how RW ESGs impact principle-based reserve and capital levels, their potential impact on life insurance companies and consider differences between the currently prescribed RW ESG and the proposed RW ESG.

Description: 2021 Life Meeting - Session 8B: Proxy Discrimination in Life Insurance 9.1.21 Recording

Description: An overview of bias and fairness in machine learning models, as they apply to use cases in life insurance.

Description: Article Permutations And Computations by Moordhead in The Actuary, February 1979, Volume 13, Number 2

Description: The American Academy of Actuaries Health Solvency Subcommittee and the NAIC Health Risk-Based Capital (E) Working Group are in the process of analyzing and reviewing the H2-Underwriting Risk component and the managed care credit calculation in the health risk-based capital (HRBC) formula. Come learn what changes are ahead! While RBC is designed for solvency issues, also come hear about other ways health insurers manage their capital and surplus levels. Are others doing something you should try?

Description: As the use of predictive models and novel datasets becomes more prevalent, a focus on consumer protection is being highlighted by regulators, ethicists, and industry insiders. Over time, increased rigor should and will be applied in model development and implementation. These issues are not new. Hundreds of individuals have worked on these issues in the laboratory, the board room, and the court room. The Civil Rights Act of 1964, Uniform Guidelines of the US EEOC, the Principles for the Validation and Use of Personnel Selection and other sources are intended to protect the rights of citizens and consumers and provide guidance to professionals in the development and use of decision-making tools. Drawing heavily on examples and parallels from psychology and employment practices as well as other disciplines, concepts such as model bias, fairness, adverse impact, disparate treatment and the like will be presented. Suggestions to ensure model validity, demonstrate model and data relevancy and minimize the potential for adverse impact to protected classes will also be offered. Each of these considerations will be linked to recent dialogue and concerns in the Life Insurance sector.

Description: Feature article discussing how actuaries are affected by the need for maintaining controls and the use of IT resources for meeting these needs.

Description: An overview of the formation of the Committee of Professional Associations on Federal Statistics, initiated by the Joint Ad Hoc Committee on Government Statistics, in response to the need for statistical advisory committees to government agencies to promote better data collection and dissemination, contracting, forms clearance, planning, coordination, monitoring, staffing, and strengthening of agency functions.