Description: Models are a staple of an insurance company's operations. However, models that are not appropriately governed may lead to underpriced products, under-funded reserves, unfairly treated customers, and potentially catastrophic operational, legal, and reputational risks. Model Risk Management (MRM), an essential component of an insurer's ERM function, needs to keep pace with the rapidly evolving model ecosystem to limit model risk and produce results that management can trust when employing company strategy. With the adoption of ASOP #56, emerging technologies, and regulatory changes such as PBR, LDTI and IFRS 17, it is increasingly important for MRM frameworks and processes to adapt, upgrade and evolve. Discuss insights on how to embed ASOP 56 into Model Risk Management (MRM) and assess the design, development, modifications, and validation of actuarial models, the advancement of analytics and technology that empower insurers for process optimization and automation, as well as the the key components, stakeholders, best practices, and strategic benefits of a comprehensive MRM framework. Go over use cases on enhancing MRM in the context of ASOP 56, technology, and model governance. Explore how automation and optimization of the MRM process will allow companies to realize the strategic benefits of MRM, ensure successful adoption of regulation changes, and the pros and cons of emerging technology on MRM. By attending the session, you will be able to: - Describe how ASOP 56 can help improve MRM processes. - Describe the key components, stakeholders, best practices, and strategic benefits of a comprehensive MRM framework. - Identify where and how to use technology to automate and optimize the MRM process. - Evaluate the impacts of emerging technology on MRM.

Description: Enjoy an in-depth walkthrough of the facets of the lab testing world in this webcast. The agenda will include a discussion on genetic testing, which focuses on its general background, current trends and tests in the pipeline, as well as a focus on the approaches to achieve savings in lab testing. Finally, expect to check out sample actuarial analyses that will be used to identify areas of focus in lab management. Join us and take a deeper look into lab work in the actuarial health industry.

Description: What is a vitagion? Is there such thing as catastrophic longevity? What does a 1 in 200 year mortality loss event look like? How might actuaries use mortality scenarios in their practice? Explore how to move beyond simplistic stress testing with singular percentage shocks to building a robust set of information, derived from stochastically generated scenarios for longevity and excess mortality outcomes. This data can inform assumption setting, longevity swaps, capital levels, and risk management. These concepts apply to life insurers, pension actuaries, and reinsurers. By attending the session, you will: - Understand what is a loss exceedance curve is and how it may be useful to quantify tail risks. - Comprehend how to incorporate stochastic variability into longevity and excess mortality assumptions. - Find out what elements go into a stochastic prediction of extreme mortality events using nested models. - Learn how to add more depth to youractuarial assumptions.

Description: As effective dates for major changes in insurance accounting are rapidly approaching, insurers find themselves at various stages of their implementation programs. Driven by the need for compliance and desire for operational excellence, companies are transforming by reimagining their processes, leveraging technology enablers, redefining roles and responsibilities, and enhancing risk management, governance, and controls. Companies that proactively include risk and control elements in their accounting change implementation programs benefit from improved outcomes, enhanced investment returns, early identification, and mitigating of risk. Focus on risk and controls considerations around accounting change programs and how strategic partnerships with internal audit and ERM groups can benefit these significant transformation programs. By attending the session, you will: Be able to articulate key considerations around risk and controls for accounting change implementation programs.

Description: Recent and potential near future extreme experiences are leading us to a new normal rather than back to the prior environment. Learn more about several examples of past Regime Changes along with a detailed discussion of how recent disruptions lead toward a persistent change in the business, social and political environment. Come develop an understanding of these drivers of change as well as the likely impacts on the Financial Services industry.

Description: It has been a little over a year since the release of the Society of Actuaries (SOA) Research Institute's Mortality Improvement Model, MIM-2021. Since then, waves of COVID-19 have continued to occur in the U.S. The uncertainty around the COVID-19 pandemic and the slowing of U.S. general population mortality improvement prior to the pandemic are just a few of the reasons that make developing MI projection scales difficult. Uncoverthe results from intercompany surveys on mortality improvement, including one that addresses COVID-19, discover insights from a mortality expert panel on COVID-19 and future mortality, and discuss enhancements to MIM-2021. By attending the session, you will: - Understand MIM-2021 and 2022 enhancements. - Understand SOA Research Institute activities around COVID-19 and impact on mortality improvement. - Apply research results and insights presented to daily work.

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: Almost half of recent FDA approvals have been for orphan drugs. This trend is expected to continue in 2023. Orphan drugs are priced more than 30 times higher than non-orphan drugs, therefore their cost burden in aggregate has the potential to overwhelm the budgets of payers, especially that of smaller health plans. Hear how the cost impact analysis for smaller health plans require different considerations than for a larger health plan when modeling the impact of rare diseases.

Description: In this Determining Appropriate Sensitivity Tests webcast, explore sensitivity testing effectiveness, the important difference between sensitivity and stress testing and more. Understanding sensitivity testing is critical to actuarial work, especially in order to properly assess and evaluate risk factors. Come explore approached to sensitivity tests and effective evaluations of sensitivity test results in order to elevate your knowledge within the actuarial science field.

Description: Insurance carriers are continually challenging to innovate and evolve emerging underwriting toolswisely. A growing number of new tools continue to emerge. Uncover insights and gaina technical understanding on two models from validation studies recently conducted. Find out more information on ways to evaluate models for bias an fairness. Perspectives will be shared from both a direct carrier and reinsurance standpoint. By attending the session, you will: Gain more insight into emerging underwriting tools and methods to evaluate them.