Description: This newsletter provides a regulation outlook for the use of AI/ML in insurance industry, interpretations of regulatory expectations and what insurers should consider when managing risks associated with the development, implementation and use of AI/ML models/tools.

Description: This session explores the far-reaching changes to how clinical data will be sourced, processed and consumed in many payer use cases including risk adjustment, quality measurement, care management, claims adjudication, prior authorizations, and other payer functions. Robust, interoperable data exchange is a prerequisite for value-based care. Clinical data will be increasingly accessible to augment administrative (claims) data via standardized Fast Health Interoperability Resources (FHIR, pronounced 'fire'), at a fraction of the cost of a accessing a traditional medical record and in real-time. On May 1, 2020, HHS issued a final rule implementing interoperability and the patient access provisions of the 21st Century Cures Act of 2016, although enforcement has been delayed into 2021 because of the COVID-19 pandemic. The new regulations promote, “HHS’s vision and strategy for achieving a health information ecosystem within which all individuals, their personal representatives, their health care providers, and their payers are able to send, receive, find, and use electronic health information in a manner that is appropriate, secure, timely, and reliable to support the health and wellness of individuals through informed, shared decision-making, as well as to support consumer choice of payers and providers.”Once enforcement begins, CMS and the Office of the National Coordinator for Health Information Technology (ONC), have the authority to mandate adoption of interoperability requirements, and also penalize payers and providers for non-compliance or the delay and withholding of data.This ‘digital transformation’ of the clinical data ecosystem has far-reaching implications for enabling technologies including Natural Language Processing (NLP) and entire segments of services and vendors. It will eliminate many departmental barriers, duplication and error sources for health plans and impact every department and the underlying economics of delivering and managing care.

Description: Reunite with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, IFRS 17, product strategy, cross-border communication and discussion, and more. Advance your career through learning and networking opportunities, and share your experiences in the finance and insurance industries, as well as other fields related to actuarial science.

Description: This newsletter provides a regulation outlook for the use of AI/ML in insurance industry, interpretations of regulatory expectations and what insurers should consider when managing risks associated with the development, implementation and use of AI/ML models/tools.

Description: At the end of December 2020, Congress enacted the Consolidated Appropriates Act, 2021, which included revisions to Section 7702. Effective for policies issued after December 31, 2020, the fixed 4% and 6% minimum annual effective rates under these tests were changed to refer to a market-based rate called the “insurance interest rate”. For contracts issued in 2021, the insurance rate was set to 2% - defined as the lower of the Section 7702 applicable federal interest rate based on the 60-month period ending December 2019 (2%) and the Section 7702 valuation interest rate in effect for 2020 (3.5%). This reduction in the rates used for compliance testing required significant product, operational, and technology changes for companies to reach product compliance. After 2021, the insurance interest rate is redetermined annually with a minimum change floor.

Description: For actuaries, finance and IT professionals, the long-duration targeted improvements (LDTI) implementation has been a career milestone. These projects were often the most significant undertaking of individuals’ careers, with respect to scale, complexity and duration. Join this session and participate in small groups, with consideration given to ensure each group has representation from both 2023 and 2025 filers., with moderators presenting questions to encourage small group discussion.

Description: This article explores recent regulatory developments, in the U.S. and the E.U. related to artificial intelligence, and briefly discusses steps insurers can take to get ahead of the curve.

Description: Discover the benefits of building a shared business model during the Building Digital Platforms: Insurtechs, Carriers and Reinsurers webcast. This is an educational event for the actuary interested in product and channel innovation, in addition to those wanting to understand how to juggle competitive incentives in the market. Representatives from Insurtechs, insurance carriers and reinsurers will discuss their distribution development and product capabilities for marketing insurance products on digital platforms, as well as their collaboration throughout the process.

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: As AI becomes more pervasive, we must consider the potential repercussions and risks associated with its widespread use. The SOA seeks essays that delve into the multifaceted risks posed by (AI) over both the short and long term.