Description: Almost half of recent FDA approvals have been for orphan drugs. This trend is expected to continue in 2023. Orphan drugs are priced more than 30 times higher than non-orphan drugs, therefore their cost burden in aggregate has the potential to overwhelm the budgets of payers, especially that of smaller health plans. Hear how the cost impact analysis for smaller health plans require different considerations than for a larger health plan when modeling the impact of rare diseases.

Description: The way customers and advisors purchase insurance products and interact with carriers has evolved rapidly in the last decade, reflecting the changing preferences in our digital world. Join this webcast to learn from a panel of experts on how they have approached these innovations in their own actuarial work and leave with a framework to manage risk through future change.

Description: Newark, New Jersey, United States (On-Site)

Description: Do you enjoy speaking to students and potential future actuaries about the profession? If you do, this ongoing volunteer opportunity may be perfect for you!

Description: Based on a late 19th century analysis, life insurance premiums were once differentiated by race, with Blacks/African Americans experiencing higher rates than for whites. Over time, the actuarial profession has had increasing focus on professionalism and responsibility to the public, and today all members of the five actuarial organizations based in the U.S. are subject to the Code of Professional Conduct. Come engage in interactive discussion about how Precept 1 might help current actuaries avoid bias in our work, including when thinking about risk classifications and dealing with new technologies. By attending the session, you will be able to:- Understand the importance of Precept 1 in our self-governing profession.- Think about prevailing conventional wisdom and potential bias in your current work.

Description: ClubVita Session Series Buyouts and indemnity swaps remove all the longevity risk from an underlying population. However, they can be difficult to unwind and are not very flexible or widely tradable. Explore the characteristics and product structures of indexed based longevity swaps, demonstrating how they can cover any term, how they hedge the key component of trend risk and how, with new technology developments, they could lead to a liquid market.

Description: Insurance is finally seeing technological advances that we have expected for years, however, existing incumbents are struggling to adapt and insurtechs are emerging to take advantage of technology to fill market needs that have been ignored for years. Insurers should be prepared. The next five years will bring more market changes and technology advances than we have seen in the past 20 years.

Description: The most recent U.S. population data released by the Centers for Disease Control and Prevention (CDC) and from the U.S. Census at year-end 2021 includes the first ten months of the COVID-19 pandemic in the U.S. While we know the pandemic has had significant impacts on both the U.S. population and insured population mortality, we also see increased mortality due to many other non-COVID causes of death. Where are the biggest changes and what does this non-COVID excess mortality mean over the next few years? Take part as an expert panel hosts an interactive discussion to examine data from general population as well as from both individual life and group life experience studies to explore how these changes might spur innovation in underwriting, assumption setting and pricing.

Description: A changing workforce on a global scale, along with the cost and administrative burden of running retirement plans, has led to an increasing number of workers without access to company sponsored retirement plans. In addition, even when coverage exists, many national retirement and social security systems lack payout systems that provide true retirement security. Explore different retirement systems and uncover an overview of available and developing solutions to address these gaps in coverage and retirement security.

Description: The SOA Research Institute Catastrophe & Climate Strategic Research Program Steering Committee is seeking researchers to put together a case study discussing scenario development, actuarial methodology, and how to incorporate climate-related tipping points into actuarial practice. With the march toward global temperature increase approaching 1.5 degrees Celsius above pre-industrial levels, it would be valuable to research what it would look like when the point has been reached and we are in an era, or “new-normal,” represented by more extreme climate-related events.