Description: Model Risk Management continues to be an evolving area for insurers to be considering. This has grown from both internal and external forces and may require a different format to previous model risk frameworks held by insurers. Furthermore, there are a number of trends emerging that we believe will drive an increased focus on insurer’s model risk management frameworks such as technology automation, ever increasing data sources, and the use of predictive models. Risk management and the development of models is an area where insurance companies have performed well in the past. It is expected that frameworks currently exist within companies; the governance, documentation, validation and control of model risk are likely to be well established practices. The challenge that insurers must consider is how well these have been adopted throughout the company for all models used to make business decisions and if the same level of rigor has consistently been applied. Regulation in a high-velocity actuarial environment will to be a challenge that actuaries must spearhead and must be proactive in guiding rule making to ensure continued innovation while putting data security and risk management first.

Description: Negotiation - it's not just for buying a car! Actuaries negotiate every day at work, whether it's getting buy-in to change a critical assumption or a more reasonable timeline to complete a project. This workshop will be led by an instructor specializing in executive education and will offer techniques you can use to be more effective in your day-to-day life.

Description: The American Academy of Actuaries will present on current initiatives that impact the U.S. statutory reserving methodology for non-variable annuity contracts. In particular, the development of a principle-based reserving framework on non-variable annuity contracts will be discussed, including framework elements, assumptions, and methodology. The session will provide an update on the status of regulatory discussions and the timeline for future changes to reserves. By the end of the session, attendees will understand what changes are being made to non-variable annuity reserves, details underlying existing proposals, and the anticipated timing of such emerging changes. This session is intended to the meet the needs of actuaries focused on annuity reserve calculations, financial reporting, and valuation.

Description: With many complex regulatory changes on the horizon as well as pressures to ensure model accuracy from auditors, regulatory requirements and new actuarial standards of practice, the importance of robust model validation is coming to the forefront of actuaries’ minds. What was previously a day-two task for many companies is becoming just as important as model development! In this session, you will hear from those that have been deeply involved in building model validation frameworks and tools in responses to regulatory changes GAAP Long Duration Targeted Improvements (“LDTI”) and Principles Based Reserves (“PBR”).

Description: 2021 Asia-Pacific Virtual Symposium Sponsorship Brochure

Description: In recent years, China's aging population is worsening, the fertility rate is decreasing year by year, the dependency ratio is increasing day by day, the people's diversified pension needs are increasing day by day. In order to actively participate in the construction of multi-level and multi-pillar pension insurance system, steadily promote the reform and development of pension finance, and serve the people's diversified pension needs, commercial pension insurance, as the third pillar, is in urgent need of rapid development. This speech analyzed the future prospect and strategic position of pension from three dimensions of industry development, company development and continuous demand of customers. It also discussed how to develop the third pillar pension insurance rapidly from three aspects: national policy, individual pension consciousness and channel cognition.

Description: View the Reinventing our Actuarial Toolkit to Incorporate the COVID-19 Pandemic.

Description: View the 2021 Annual Meeting Macro Theme .

Description: View the 2021 SOA Life Registration Card.

Description: Program booklet for 2022 Asia-Pacific ATC.