Description: Highlights from the 8th Intercompany Long-Term Care Insurance Conference held in March 2008, consisting of 56 sessions covering a range of long-term care insurance LTCI topics each with a track-specific focus.

Description: Risk Appetite statements are often vague and qualitative, making it challenging to make the connection to day-to-day decision making. In this session, we discuss leading practices for defining risk appetite clearly and quantitatively, providing a direct and actionable line-of-sight to decision making.

Description: Shared savings deals are all the rage these days. Significant numbers of payers and provider groups in many markets around the U.S. want to engage in shared savings contracts covering commercial, Medicare and Medicaid patients. The fundamental question underlying a value-based contract is, for whom is the value accruing? Ostensibly, value is accruing to the sponsor—whether employer or public payer—but should be accruing to the provider as well. Often design flaws in value-based arrangements and contracts and/or the inability to execute in a value-based paradigm diminish the savings that could have accrued, create inequities in value or drive unintended consequences. This presentation will provide attendees with insights into how to design a workable value-based payment initiative, how to educate both payer and provider participants, and how to oversee the initiative’s operations. Specific topics will include: • Attribution logic: prospective, retrospective and the details in between • Risk adjustment: why one model doesn’t fit all arrangements, and even if it does, how do you implement? • Data and reporting: matching business needs to the payer’s willingness to be transparent and provider capabilities • Quality improvement as a component of payment: actionable and tied to the attributed population or just “out there?”

Description: The 2018 SOA Valuation Actuary Symposium covers a range of content relevant to the finance, health and life industries. Attend to increase your acumen on the latest topics in valuation and financial reporting.

Description: Evolve with today’s disruptive technology. Empower yourself through innovation. Elevate the actuarial profession. It all begins at the 2019 SOA Annual Meeting & Exhibit, where you’ll learn new techniques, examine current industry trends, and witness the technology defining the actuarial future. Embrace it all—the informative sessions, the innovative exhibits, and the unmatched networking opportunities. Embrace change today to create a stronger tomorrow for the actuarial profession.

Description: At the core of effective risk management is the ability to understand and manage to tail events. In this regard, the COVID-19 pandemic is raising some profound questions for risk practitioners in the life insurance industry. In this special roundtable discussion, senior risk practitioners present their views on the emerging issues, considered from the perspective of: risk analytics; risk strategy; and the role of the Chief Risk Officer ('CRO') & centralized risk function.

Description: Baseline and "what if"/stressed projections of cash flows, financial statements and capital requirements are critical inputs for a range of business purposes: forecasts, risk management, liquidity management, strategic decision making, etc. Forward-looking projections have historically been inefficient and were performed in silos, making it difficult to scale the process as CFOs and CROs ask for more. The presenters discuss challenges of the forecast process and opportunities to meet desired future capabilities. They will also discuss "what if" analysis and ways to support production of forward-looking projections for "what if" analysis in an efficient way.

Description: The article provides an introduction to the Stock Value Approach to enterprise risk management (ERM). A clear path toward implementation of comprehensive and pragmatic ERM is shown. The framework is underpinned by a company's goals as they relate to growth of the value of the company stock price.

Description: This paper evaluates the current practice of operational risk management in the insurance sector. Operational risk is nothing new in insurance, but, because of regulatory requirements, companies have initiated computation of risk capital for their operational losses. The current effort to manage operational risk is not a naturally evolving phenomenon, and operational risk, in the Basel Committee on Banking Supervision’s Basel II definition, is unlikely to be a significant cause of insurers’ failure. In addition, the current Basel II definition of operational risk is not suitable for the insurance sector. Consequently, the invention of models and tools based on the definition is incomplete and illusionary. My findings are based on the analysis of dozens of interviews with insurance industry professionals. I demonstrate the way operational risk is quantified in practice, show that the result obtained from this computation is of littl e use in managerial decision making and propose a set of policy recommendations illustrating the characteristics of operational risk in insurance. This study can be used as a platform for launching dialogues to initiate fresh thinking about operational risk in insurance beyond the current artificial and narrow boundaries.

Description: Regulatory change and increased focus on internal risk management are driving a renewed interest in model efficiency. In this session, we will review several new and existing tools, that show significant promise for advanced modeling of equity linked products. These include: • Clustering • Use of unique--and potentially a different number of--scenarios for each policy • Semi Monte Carlo (SMC) – this is a proprietary technique that is similar to a combination of Monte Carlo and numeric integration • Using a neural network approach to optimize some of the more complex and manual aspects of clustering and improve the fit of the clustered model • Combining SMC with the use of unique scenarios per policy