Description: Session 9B: Actuaries and Technology: Perspectives on Actuarial Workflow Automation The life insurance industry has experienced unprecedented growth in modernization efforts, with special attention paid to automating actuarial workflows. Companies are creating processes that are more scalable and maintainable, helping actuaries meet strict deadlines and deliver meaningful information to stakeholders. Discuss practical examples of automation, potential compositions of the modern actuarial toolkit, and different ways actuaries and technology teams interact during implementation and production states. Examine how automation can help actuarial teams shift from a quarterly to a monthly valuation process by overcoming challenges in traditional actuarial processes-long run times, the need for highly specialized legacy software skills, and inadequate control. Shifting to a monthly schedule can increase alignment on company objectives, deepen insurers' understanding of their business, and improve strategic decision-making. Leave with new ways of thinking about technology, from day-to-day best practices to full-scale actuarial transformation. By attending the session, you will: - Explain and understand the benefits of automating actuarial workflows with the purpose of operating on a monthly, rather than quarterly basis. - Describe the categories and purposes of several kinds of automation and supporting tools that might be used to accomplish this. - Understand different actuarial IT operating models and consider the application of such strategies at your organization. - Identify best practices for implementing automation based on the presented case studies.

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: Actuaries and their IT counterparts are required to collaborate more frequently and on more complex projects than ever before. The recent accounting changes (LDTI, IFRS 17, PBR), investor demands for increased transparency, and competitive pressures have led to many insurers undertaking large actuarial and financial transformations. As a result, senior management is challenging their actuarial and IT leaders to develop new processes that use data in new and improved ways. The actuarial and IT functions are being tasked with not only delivering on changes to systems, processes, and data, but also with rethinking how their teams collaborate and interact

Description: Learn how modernization of data, models, and technology are influencing workflows. This webcast will address how workflows are changing in response to new regulatory requirements and the impacts the changes have on modeling and end-to-end future state operating models. Industry leading actuaries will discuss: How team collaboration can increase quality and speed of reporting to internal and external stakeholders How to strengthen controls and compliance frameworks across finance and actuarial departments How to modernize actuarial input/output for strategic analysis and insights How to attract and retain top talent by improving opportunities for actuaries There will also be dedicated time to ask questions of those who have made the transition.

Description: On August 15, 2018, the FASB issued Accounting Standards Update 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts ("LDTI"). With its effective date, January 1, 2021, approaching fast, companies have begun the implementation process to prepare for this significant change. The three webcasts below will outline operational implications resulting from data and technology challenges.

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: Asset liability management is an important task for any insurer, where tools like Excel play an important role from an analytics perspective. Dashboard tools like Power Bi and Tableau can supercharge an organization’s ability to perform ALM with real-time precision and monitoring of risk/imbalances. The dashboard can provide insights into potential risks posed by asset allocation and concentration, allowing for informed decision-making to mitigate those risks. The presenters will walk the audience through an example of ALM use case, including how to build key performance indicators such as cash flow, asset allocation, and risk exposure. Additionally, we will demonstrate how these types of dashboards can be customized to fit the specific needs of your organization.

Description: Implementing the new data and system requirements related to LDTI bring a renewed focus on the partnership between actuarial and IT teams. This session will discuss common challenges encountered in the past couple of years of LDTI implementation and propose ways on how to ensure a strong partnership between actuarial and IT teams to implement the necessary changes for LDTI.

Description: FASB published LTDI requirements in 2018. The effective date for insurers who are SEC filers to publish US GAAP financials under LDTI is January 1, 2023. The effective date for non-public insurers is January 1, 2025. LDTI requires insurers to identify a new category of benefits called market risk benefits (MRBs) in insurance products. Broadly, variable annuity (VA) and fixed indexed annuity (FIA) guaranteed minimum death, accumulation, withdrawal, and income benefits fall under MRBs. Valuing MRBs requires calculating the liability on a fair value basis. Valuing FIA MRBs on a fair value basis can be complicated as several aspects of FIAs such as option budgets and policyholder behavior are driven by company management decisions and the competitive landscape.

Description: A call for proposals for research projects exploring recent insurance product innovations and their impacts on the industry. It outlines the background, purpose, objectives, proposal requirements, selection process, submission details, conditions, and conflict of interest disclosures.