Description: Learn how modernization of data, models, and technology are influencing workflows. This webcast will address how workflows are changing in response to new regulatory requirements and the impacts the changes have on modeling and end-to-end future state operating models. Industry leading actuaries will discuss: How team collaboration can increase quality and speed of reporting to internal and external stakeholders How to strengthen controls and compliance frameworks across finance and actuarial departments How to modernize actuarial input/output for strategic analysis and insights How to attract and retain top talent by improving opportunities for actuaries There will also be dedicated time to ask questions of those who have made the transition.

Description: This article starts with the increasing attention that FP&A receives due to the implementation of new financial regimes and emphasizes the collaborative nature of FP&A. It then describes the roles that actuaries play in FP&A, the new demands for actuaries that we are observing, and suggests some best practices that we are seeing across the clients. This article targets to point out the new demands from FP&A on actuaries and provide some advice on how actuaries can do to meet these demands.

Description: The implementation of the IFRS 17 insurance accounting standard has brought significant changes to the financial reporting landscape of insurance companies. With new disclosure requirements and altered profit analysis, understanding and interpreting future profitability have become a topic of concern for the industry. While stability remains a key objective for insurance companies, the earning patterns might become more volatile especially when the contractual service margin (CSM) is exhausted, and a loss component (LC) needs to be established. Reinsurance, a common risk mitigation tool, can play a pivotal role in managing earnings volatility and minimizing losses for onerous measurement units. In this article, we propose a new key performance indicator (KPI) called “loss recoverability” to assess the performance of reinsurance treaties in achieving these objectives. We explain how this KPI can be utilized in multiple scenarios to evaluate the effectiveness of reinsurance strategies and pursue stability in earning patterns.

Description: Description of the mathematics involved when looking at low probability events within a company from the perspective of the C-Suite. The accumulation of small probability events leads to a much higher probability of at least one of them happening in a given period.

Description: By attending the session, you will learn: - Different perspectives around what FP&A is used for (e.g., strategic planning, performance measurement, management compensation, liquidity management, etc.) and why - Challenges leaders have faced and how they are being addressing - How recent regulatory, accounting, and technological change has impacted the FP&A function - Objectives for various organizations around both new analytics for business management, efficient production of forecast results, and potential for faster 'top down' forecasting

Description: Value of new business (VNB) is being used by many companies for various purposes including: internal and external financial reporting, incentive compensation, pricing, capital management, and comparing products, distribution channels or regions on a consistent basis. Presenters will discuss how and why value of new business is used within their companies including: the various methodologies considered, some of the benefits and challenges related to implementing VNB, integrating VNB within their business as usual processes, and managing to VNB.

Description: This article outlines how Bermuda advanced in global tax compliance through the enactment of the Bermuda Corporate Income Tax (CIT) Act of 2023, which will take effect for tax years beginning on or after January 1, 2025. The Bermuda CIT rules incorporate key foundational definitions from the Organization for Economic Cooperation and Development’s (OECD) Pillar Two GloBE model rules, while also exhibiting significant differences from Pillar Two. The article discusses the various elections available for taxpayers, key mechanics of the CIT, and the latest administrative guidance released by the Government of Bermuda.

Description: "Most patients enter the health care system through their primary care provider or through the Emergency Room or an Urgent Care Center. How an emergency room is structured, managed, and provides care is one of the major forces impacting the total cost of care. Yet it is often an after-thought and ignored by both health plans and health systems. In reality, the structured introduction of efficient practices can substantially reduce the quantity and cost of health care services. Further explore useful information to better understand and see how there are still substantial opportunities for improvement."

Description: The life insurance industry has a long tradition of trying to calculate the economic value with different forms of concepts. Especially with reinsurance, which is often a strategic part of a company's operation, it is important to understand the economics of the transactions given the complexities involved. However, despite the focus on economic value creation, the financial metrics demanded by various stakeholders often tie to one or more accounting basis.

Description: The Valuation Actuary (ValAct) Meetings empower actuaries across all practice areas for success with in-depth content on the latest valuation and financial reporting concepts. ValAct content is tailored for professionals specializing in valuation actuarial practices within the insurance and financial industries.