Description: A high-level review of the newly effective U.S. Actuarial Standard of Practice 56, Modeling

Description: Discussion on modeling Medicare Supplement insurance and the considerations when choosing an Actuarial Modeling Software (AMS). Focuses on model risk management, key modeling assumptions and inputs, and the complex interactions between modeling assumptions and why its critical to have a model that can handle that complexity. This article also touches on the incorporation the of accounting and regulatory regimes into the model, including Statutory, GAAP (Legacy and LDTI), and Tax regimes, and the modeling considerations for sensitivity testing and capital planning. Lastly, the article highlights the capabilities to look for when choosing an AMS for Medicare Supplement

Description: Best practices for a successful model conversion or transformation. It details the key stakeholders involved and the processes and tasks across various stages of the model conversion.