Description: The presenters will provide an overview of the Canada Pension Plan (CPP), its financial status, recent changes and trends in utilization of the program.

Description: The National Academy of Social Insurance (the Academy) recently released a comprehensive study on models for states interested in pursuing social insurance initiatives for LTSS, paid leave and child care reform. The report explores strategies that states could pursue to better support families in meeting evolving care needs over the lifespan. Actuarial projections for illustrative policy options are included. The presenters will report back the Academy study panel's findings, provide in-depth insights into Washington State's new long-term care social insurance program, and briefly report on other state activity in the LTSS and paid leave domains.

Description: This session meets the needs of life insurance actuaries who are focused on experience studies, assumption setting, and/or product development. The presenters will use industry data to illustrate how policyholders react to product design, such as premium jumps in the PLT period and UL with high interest rate illustration, and trends in the life insurance market, including the introduction of smoking distinguished rates and the shift towards an increasing number of preferred underwriting classes.

Description: This session is based on research sponsored by the Society of Actuaries Mortality and Longevity Strategic Research Program, the Canadian Institute of Actuaries, and the Institute and Faculty of Actuaries to develop new methods and tools to enhance current mortality modeling and measurement actuarial practices. The presentation will discuss research accomplishments to date including a new mortality dataset that subdivides the U.S. population by education level and provides insightful analysis on mortality inequalities and mortality by cause of death. Additionally, research currently being performed or planned will be explained.

Description: The presenters will discuss predictive analytics as applied to recent group life and disability experience studies and other applications.

Description: The presenters will focus on best practices in drug claim management in North America. The presentation is geared toward Canadian practice and insights, but is useful for practitioners in the U.S. and elsewhere, as well.

Description: To some degree, we all operate in an environment influenced by regulation and accounting standards. This session builds on the first session in this series by considering how regulators are reacting to the biometric influencers, then delving into the impact of changing accounting standards on how firms assess, value and report on their business. Consideration will be given to uncertainties around pending regulation, including those uncovered in the process of firms implementing Principles Based Reserving and those yet to come with modifications to GAAP. This session is for anyone interested in better understanding the impact and influence that regulatory and reporting uncertainty has on their work.

Description: The insurance industry has a lot to learn from academia's missteps. With predictive analytics assuming an ever-expanding role in risk modeling, carriers would be well-served to establish practices that mitigate the creation of faulty models. Hear practical advice on how to mitigate the risks of overfitting, with a focus on how to translate complex policyholder behavior experience data for long-term products into behavioral models using company- and industry-level data.

Description: The management of the investments of an insurance enterprise has undergone a considerable evolution since the pioneering work of Redington in the mid 20th century. Best practices have evolved to incorporate ever more complex insurance liabilities, expanding investment asset classes and global market opportunities. Strategic asset allocation (SAA), liability driven investing, and other robust optimization approaches form the core of the professional management of insurance company investments.

Description: The presenters focus on traditional and non-traditional techniques for setting IBNR and assume some experience on the topic. Take in a brief overview of the basic development of IBNRs for financial reporting. Then explore general considerations and various methods used to estimate claim costs, plus understand variability in IBNR projections as well as challenges that arise in certain situations. There will be opportunities for the audience to share ideas and considerations based on past experiences.