Description: This presentation shares experience and ideas of both AIA Group and AIA China during implementation of the IFRS17 project and will discuss potential impact and outlooks in the domestic market from IFRS 17. This presentation includes a general overview of an IFRS17 implementation project, focusing on changes and requirements, as well as the resources cost of the main challenges and relative resources.

Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held June 3-5 in Colorado Springs. The panelists debunk myths, the conventional wisdom that actuaries have no place in the public policy arena, whether because the profession is too small to influence public policymakers, or legislators just don't want to hear from professionals whose work is so technical in nature and specialized in its application, or that It's not really necessary to become too involved in public policymaking, because what goes on in legislatures just doesn't affect actuaries’ day-to-day working lives. The panelists provide insights on lending actuarial expertise to policymaking debates. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 3A.

Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held May 16-17 in New York. The panelists debunk myths, the conventional wisdom that actuaries have no place in the public policy arena, whether because the profession is too small to influence public policymakers, or legislators just don't want to hear from professionals whose work is so technical in nature and specialized in its application, or that It's not really necessary to become too involved in public policymaking, because what goes on in legislatures just doesn't affect actuaries’ day-to-day working lives. The panelists provide insights on lending actuarial expertise to policymaking debates. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 2.

Description: Retirement isn't a solo endeavor and the prospect of retirement looks starkly different depending on your family, your generation, your income and a host of other socioeconomic factors. The presenters will review the study, 'Financial Perspectives on Aging and Retirement Across the Generations' with an eye towards how these findings impact public policy, plan design for employers and financial planning for individuals and families.

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: 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: One of the Health Section's key focuses in 2019 is Initiative 18/11. Last year the SOA joined forces with the Kaiser Family Foundation (KFF) and the Healthcare Financial Management Association (HFMA) to answer the nagging question: “What can we do about the cost of healthcare?” A steering group has been formed to lead a research project as to what managed care companies can do to reduce costs without sacrificing quality. The project [called Managed Care 3.0 in the 18/11 paper] will examine historical models that have worked as well as investigate the impact that new technologies and care models may have on cost and quality, with the goal of better understanding the current environment and identify­ing potential risks and opportunities.

Description: A pension plan uses Actuarial Equivalence to determine a 'fair' adjustment to pension benefits for form and timing of payment. The definition of Actuarial Equivalence is set in the Plan Document which may not have been reviewed for decades. With a wave of recent pension litigation in the U.S., plan sponsors, attorneys and actuaries now pay more attention to how pension plans define Actuarial Equivalence. How does a change in mortality table or interest rate affect the ultimate benefit? What are the requirements under ERISA and pertinent regulations? Are there court cases that have examined this question before? What are the issues behind the recent lawsuits and what can a plan sponsor do now to reduce their legal exposure? What alternative strategies are available for changing or not changing the definition in the plan document?

Description: Insurance commissioners and deputy insurance commissioners will discuss current topics including health care reform, life insurance issues, risks in the major medical markets, voluntary products and other topics.

Description: The key tasks of credit risk capital project under CROSS II mainly focus onL(1 )Adjustment of measurement framework; (2) Calibration of risk factors, including both credit spread risk and credit default risk;3)Introduction of concentration risk measurement; (4) Higher requirement on look-through rule.