Description: Pandemics are a main driver of losses for both life and non-life (re-)insurance. Until COVID-19, risk assessment mostly relied on a few historic examples, most importantly the Spanish flu. The COVID-19 pandemic has shown that other pathogens (namely the coronaviruses) need to be taken into account. Also, modern societies and governments drastically respond to novel threats and implement measures such as social distancing, mask mandates, and lockdowns. Besides the properties of the pathogen itself, these reactions and the medical progression (namely the development of vaccines) are key influences on the course of a pandemic, and thus also the resulting outcomes. To account for the new insights, join us as we take a look at a stochastic, age-structured compartmental model that is calibrated on recent pandemics with several parameters sets to model different levels of reaction speed and stringency between groups of countries. Other important factors also must be defined in close collaboration with experts. Get ready to explore the development of a model and framework that can provide potential outcomes to be used as the basis to derive both summary and tail statistics to assess pandemic risk and help price complex deals.

Description: SARS-CoV2 will impact our post-pandemic future. Morbidity more than mortality will impact the life and health business in the mid-term. But how does this temporary disruption in health care elicit long-tail implications on other common diseases and changes in lifestyles? Find out how mid-term pricing could be affected using one case scenario and also show how mental health will particularly shape the post-pandemic future (individually and societal), not only due to long COVID. Review the experience of the insured policies and discuss future ideas for COVID-19 research at the Society of Actuaries Research Institute. Consider recent causes of death studies, as well as reported claims analyses to help expedite the analysis of recent experience. Join us where experts from both the medical and actuarial disciplines join forces to discuss this important topic.

Description: Many actuaries were grown and developed in cube-land - with many peers being just a few feet away to help develop core actuarial skills. Today, most experts agree that we will never fully return from a hybrid world, which means that our actuarial business skills and communication styles need to evolve as well to maintain relevancy in this evolving world. Many actuarial companies are more formally recognizing the importance of connection among staff to create robust systems for cultivating a strong department culture in an increasingly fractured landscape. Join us to discover more about how a connected department creates space to share resources and knowledge more freely, which is a benefit to both staff's personal development as well as the department performance as a whole.

Description: Medical pharmacy is a rapidly evolving, innovative part of healthcare in the United States that includes Oncology, Gene, and Rare disease therapies. Over the past few years, cost and utilization trends have been disrupted by biosimilars, innovative therapies, site of care options, and the COVID-19 pandemic. This volatility can make assumption setting difficult, so take a deep dive into quantifying these impacts on the drug landscape. Gain an understanding of the significance of managing site of care. Learn through adjusted time-series forecasting where medical pharmacy drug spend is expected to grow with new drugs in the pipeline. Walk away with a better understanding of the market forces and care practices that drive trend, and how medical pharmacy is expected to change in the coming years.

Description: You’ve written the position papers, updated the models, and designed the required disclosures, but you may be wondering how to explain the results during interim financial reporting periods to company management as well as other stakeholders. This session will explore ways to adapt existing management reporting and offer ideas for new metrics. We will explore various methods for analyzing DAC amortization patterns, market risk benefit reserve patterns, and Liability for Future Benefits (LFPB) movements. In addition, this session will explore ways to integrate changes in LDTI with business planning and other broader business issues such as product pricing considerations and reinsurance strategy.

Description: Join us for an analysis of the impact of climate change on financial institution solvency, profitability, and how other key performance metrics are, or likely will be, required by financial regulators in most major economies in the very near future. Regulators are signaling that such impacts should be assessed through the use of scenario analysis, both qualitatively and quantitatively. Explore an overview of the emerging regulatory landscape for insurers as it relates to the disclosure of climate risk. After that, check out the mechanics and current best practices that actuaries and risk modelers may use in performing qualitative and quantitative climate risk scenario analyses, covering both physical and transition risks.

Description: The SOA's Aging and Retirement Strategic Research Program and Retirement Section partnered recently on a study that looked at what features retirees really want in their retirement plans. The study employed a survey technique commonly known as conjoint analysis, which represents an innovative new approach for SOA research and its retirement work, in particular. Uncover the results from this study as well as other innovative research that the Aging and Retirement program has recently undertaken, including applications of predictive analytics, DEI topics, and the impact of megatrends, and paradigm shifting on retirement.

Description: There are a number of ways insurers can deploy their capital. Lately the chase for yield, the need for long-tailed risk optimization, and a refocusing on core competencies have driven recent capital trends in the industry. M&A activity has been hot lately, private equity firms have grown their involvement in the industry, and insurers have continued to innovate in their funding of new business strain and investment into customer experience. In this session we will discuss these trends as we study insurer capital optimization through M&A, offshore, and structured reinsurance.

Description: Artificial Intelligence (AI) has become a key component of the insurance landscape and getting full value from an AI depends on much more than simply building the model. Please join us to hear the challenges and potential solutions around successfully deploying an AI-driven initiative within an organization. Hear from panelists as they describe the human impacts of model implementation, how to assess a model for effectiveness and (lack of) bias, and detail the journey of implementing AI-driven underwriting models at a large insurance company.

Description: What if a blood test can detect more than 50 types of cancer, including those in early stages? A biotech company, GRAIL, has developed the first-to-market Multi-Cancer Early Detection test and launched it for commercial use in 2021. Join us to learn how Munich Re and GRAIL are partnering to bring its Galleri test to the life insurance industry. You will also explore how we as an industry can help save lives by detecting cancer earlier and share perspectives on some early findings and cost-benefit analysis