Description: In this session, we will review how the previous and current concerns of pharmacy actuaries will affect the forecasting and review of upcoming pipeline events. After this session, attendees will have a broader understanding of the implications of what is coming next in the pharmacy pipeline and how they can be thinking about it.

Description: As health insurance self-funding becomes more popular among smaller group sizes, risk is evolving for the MGUs, stop loss writers, and reinsurers that cover them. Assessing more small groups at lower attachment points means rethinking traditional stop loss underwriting techniques.

Description: Delve into the nexus of actuarial science in the heart of D.C. This session offers an in-depth look at the sophisticated mechanics behind additional health insurance reserves, framed by the unique regulatory landscape of national policy. As we explore premium deficiency reserves and additional reserve requirements, attendees will understand how regulatory oversight and frameworks influence these critical actuarial items. Through engaging discussions and case studies, we'll uncover the strategic intersections between actuarial decisions and policy implications, offering insights into effectively navigating the complexities of governance and regulation as they relate to additional health insurance reserve. Join us for a compelling journey through the art and science of actuarial work in the political arena.

Description: This session reviews the importance of using benchmarks in healthcare utilization management to improve organizational and patient outcomes and increase efficiency. It highlights how benchmarks can inform decisions about utilization management strategies and benefit members, payers, and providers. The presentation includes best practices, successful examples, and solutions to challenges, focusing on claim utilization, risk adjustment efficiency, quality metrics, and overall performance. Additionally, insights into the future of benchmarks and the value of analyzing the entire distribution of data for deeper insights will be shared.

Description: In this session, we will discuss best practices in ALM and Strategic Asset Allocation (SAA) modeling approaches to account for the complex relationships between insurance liabilities and the portfolios backing them. We will highlight how robust modeling techniques not only result in optimal asset decisions from a long-term value perspective but can also result in better capital efficiency. At the conclusion of this session, attendees will be able to identify the key aspects of a successful ALM and SAA framework for liabilities subject to PBR.

Description: Assumptions have been a critical component of actuarial work since the rise of the profession hundreds of years ago. Without well-developed, credible assumptions, reliable financial projections are an impossibility. Yet in 2023, there is still a wide range of assumption processes and governance practices in place throughout the life industry. Follow assumption and governance experts from Oliver Wyman to dig deep into results from our 2023 assumption process and governance survey. Examine what we're seeing currently practiced throughout the industry and offer insights into what we're doing well, as well as where we have opportunities to improve. Explore topics, such as assumption governance frameworks, governance costs, development and review, approval processes, implementation and usage, monitoring, and challenges.Gain a better understanding of how your own assumption processes compare against others in the industry, and learn best practices that can be implemented to improve assumption processes.

Description: Open source programming languages have become a common part of the actuarial toolkit over the years. Using tools like R and Python, highly technical actuaries can automate onerous processes, easily work with massive amounts of data, create models and generate reports. Although these tools excel at turbo-charging analysts, it can be difficult for benefits to inure to the rest of the organization given the learning curve (“Can’t you just put this in Excel?”), control risks (“So your entire process could break overnight if some random person in Nebraska changes something?”), and internal IT environments. Listen in on a panel discussion where presenters share their personal stories of working with open source in a production setting. Hear about real world business problems, how open source tools were used, what risks were present, how they were overcome and the final business result.

Description: Have you ever wondered why some people are the focus of everyone’s attention the moment they walk into a room? Executive Presence is the set of qualities that enables an individual to command respect, inspire confidence, and influence others. In fact, Executive Presence sets successful leaders apart from others. It includes a range of skills and behaviors including effective communication, leadership, vision, and managing your emotions. In this session we will explore the key elements of Executive Presence and discuss strategies for developing the skills necessary to enhance your own presence. We will cover topics such as delivering results, accountability, problem-solving, and seeing the big picture. The session will provide practical tips and examples to help you strengthen your Executive Presence as you continue to grow your career and reach your professional objectives.

Description: The pension risk transfer (PRT) market has increasingly expanded to include the complexity of deferred participants who have additional options that do not exist for a retiree already receiving their benefit. Assumptions on the timing of benefit commencement and form of payment elected are highly dependent on specific pension plan provisions and the census population. These assumptions can have significant impact on the reserves and cash flows affecting not only the initial price but the future profitability of the deal and require a balance of both pension experience and annuity pricing. Learn about considerations for assumptions fit for purpose from pension actuaries working in the PRT market and who specialize in the assumption setting process for deferred lives.

Description: There have been several major disruptions that will likely end up dragging the world into a major regime change. The best way to prepare for the next New Normal is with Scenario Planning. Come join a mock scenario planning exercise working in groups. You will be provided a New Normal Scenario and each group will work to develop a new plan for the transition of a business to successfully navigating that Scenario. Groups will share their scenarios and their plans. Session Coordinators will provide the scenario as well as an outline for a plan to respond to the scenario. Workshop participants will work out details for their scenario and plan in small groups. This session is a follow up to two webcasts sponsored by the JRMS in May and June 2023.