Description: Learn about key actuarial and analytic tools and methodologies used by commercial health insurance to identify and quantify drivers of healthcare cost and utilization (including wasteful and low-value ones) and risks. Use case scenarios in which these tools and methodologies apply, such as underwriting, reinsurance, medical management for population health and chronic diseases, managed care contracting, insurance market reform, provider payment reform, etc., will also be covered. Experience from the U.S., China and other parts of the world will be shared.

Description: With the rapid development of the Insurance market, insurance technology—including online insurance--continues to mature. Zhongan Online invests heavily in fintechand Zhongan Answer, an insurance robo-advisor, launched in 2018, could improve transaction efficiency by using artificial intelligence to communicate in a timely manner and solve the pain point of the perplexed insurance clause. Under a different consumption scenario, Zhongan Answer could reply to users in a timely manner, while also implementing private customized products and services by providing users with personal risk management and insurance assessment solutions so that users could easily and conveniently select the most suitable insurance plan. The intelligent shopping guide system of Zhongan Answer could improve transaction efficiency by analyzing the personal insurance intention and providing the humanized interpretation of insurance clause. Zhongan Answer has served millions of users and supported more than 100,000 insurance-related knowledge points with an accuracy rate over 90%. Zhongan Answer has provided more than four million Q&A services, and its intelligent shopping guide system covers more than 90% of insurance products.

Description: Andy Rallis delivers his speech at the presidential luncheon of the SOA 2019 SOA Annual Meeting & Exhibit in Toronto.

Description: In September 2017, the China Insurance Regulatory Commission (CIRC) issued the “C-ROSS Phase II project construction plan”, planned to be used across three years’ time, by perfecting the regulations, improving the operational mechanism and strengthening the regulatory cooperation.

Description: The prospects for China's health insurance has increased significantly in 2018, incentivized by a series of favorable government policies to support the development of commercial health insurance. However, the market still lacks relatively mature products and services. Overall there is a common understanding in the industry that good coverage plus service is the foundation for health insurance future development, and product innovation plus care management is key for an insurance company to maintain sustainable development in the competition. In this presentation, Dr. Yang will discuss the market trend both at home and abroad with respect to health management as well as its impact on product design, pricing and cost control. With the development of internet and big data, today’s health actuary has a special role in taking advantage of the digital transformation and achieving a high-quality and efficient health care service model.

Description: After International Accounting Standards Board (“IASB”) issued International Financial Reporting Standard No. 17 – Insurance Contracts (“IFRS 17”), IASB received much feedback and suggestions for improvement. As a result, in early 2019, IASB made limited changes to IFRS 17. The presentation will briefly discuss the main contents and effects of those changes.

Description: Since the international financial crisis, accounting standards have become an important part of financial supervision rules, which objectively requires us to study the reform and development of accounting standards from the perspective of financial stability. Since the release of IFRS17 in 2017, the research and discussion of IFRS17 in the insurance industry has focused on technical details and implementation, while the economic impact and pros and cons analysis of IFRS17 are few. As a result, the industry's understanding of IFRS17 is not comprehensive enough, and there are still many disputes, and no industry consensus has been formed. In the future, the insurance industry should strengthen the research and analysis of IFRS17 from the perspective of financial stability, deepen the understanding and cognition of IFRS17, and improve the ability to control and use IFRS17.

Description: Changes introduced by various Medicare Alternative Payment Models and the Medicare Access and CHIP Reauthorization Act (MACRA) have accelerated an existing market trend of shifting some of what has traditionally been considered “insurance risk” to providers. The Provider Risk Sharing Boot Camp will give attendees deeper insights into methods, current thinking, and alternative solutions that actuaries can use to help providers understand and manage the financial and actuarial risks that they are taking, many for the first time.

Description: As China’s population officially ages, the government has now escalated reform of China's social security system to a national strategic level. The report of the 19th National Congress further mentioned construction of an old-age security system and social environment, painting a bright future for development of the pension industry. At the moment, development of China's pension industry is beginning a new journey. Learn about the current status and future development of pillar 2 pension, which is core to China's pension system; framework and operation management overview of Enterprise Annuity and Occupational Annuity; possible evolution paths in contribution payment methods’ investment operation models, and development of professional pension managers.