Description: Many insurance companies have started Diversity, Equity, and Inclusion (DEI) initiatives over the past few years to better engage with their employees and communities in new ways. Explore another important audience of DEI programs: the customers who purchase insurance products. Review research on the unique needs of specific groups that may have been underserved by insurance companies in the past. You will also touch on ways to make the insurance buying process more accessible to everyone.

Description: With the ever changing economic and regulatory environment along with emerging experience, companies face real challenges managing non-guaranteed elements (NGE) for life and annuity business. Explore the opportunities and challenges offered by NGE management, with consideration for market trends, regulations, and the new ASOP 2. By attending the session, you will: - Understand recent market trends in NGE management for life and annuities. - Better appreciate the regulatory and compliance requirements surrounding NGEs especially the revised ASOP 2. - Understand the risks of action and inaction on NGEs.

Description: Explore the importance of financial well-being and current efforts to improve it for all stakeholders, including employers, insurers and individuals. With factors like the COVID-19 pandemic and economic pressures driving rapidly rising inflation, dive into this webcast to learn better preparation for retirement security. How will we meet the future challenges of financial well-being? Discover research materials from the Geneva Association, Financial Finesse and the Society of Actuaries Aging and Retirement Strategic Research Program crafted to help clients and colleagues financially plan for the future.

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: This session will kick off the key National Association of Insurance Commissioners (NAIC) activities, with a primary focus on updates to principle-based reserve valuations and appointed actuary topics. Discover insights into the current set of activities and initiatives being considered and/or adopted by the NAIC Life Actuarial Task Force (LATF) and the NAIC Risk Based Capital Working Group as well as Actuarial Standards Board. Discuss actuarial practice issues and other appointed actuary and opinion topics relevant to life insurance, variable annuities and fixed annuities. By attending this session, you will: - Understand what changes are being made to reserves, RBC, PBR and Actuarial Standards and related topics and the anticipated timing of such emerging changes.

Description: Discuss interaction between defined benefit (DB) plans and defined contribution (DC) plans. Hear more about the impact of DB plans on DC plan design and vice versa. Learn about the differences in DB and DC plan governance and cross-over opportunities between these plan solutions.

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: A lot is happening in the annuity industry. Understand key developments in annuities and their implications to product actuaries. Learn about recent product and market trends in fixed, indexed and variable annuities. Explore emerging regulatory requirements affecting annuities, such as VM-22 and Best Interest rules, as well as how they may impact product development. By attending the session, you will: - Learn about recent product and market trends in annuities. - Be informed of key emerging regulatory developments affecting annuities. - Understand how these developments may affect product development.

Description: Oliver Wyman will share results from their recent Fixed and Index Annuity experience studies. Discuss fixed annuity dynamic lapse experience and learn about cross impacts of mortality and lapse on GLWB utilization. By attending the session, you will: - Understandg industry experience trends. - Comprehendindustry dynamic lapse experience for fixed and index annuity products. - Learn about areas of cross impacts of mortality, lapses and GLWB utilization.

Description: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.