Description: This session combines the promise of cloud technology with the art of actuarial model optimization to help actuaries unlock lower costs, faster run times, and enhanced capabilities. After a brief overview of cloud-based actuarial modeling, the panel-featuring modeling actuaries, corporate IT, and software vendors-will dive into practical strategies for realizing cloud benefits while streamlining model performance.

Description: With coinsurance of an existing block of long-duration insurance contracts, there may be existing reinsurance that remains in force. The new coinsurance is typically net of such “inuring reinsurance.” In this article, we look at approaches that the new reinsurer might apply to account for the effects of inuring reinsurance.

Description: As VM-22 becomes the new standard for statutory valuation of non-variable annuities, insurers must navigate a range of implementation challenges and strategic considerations. This session will provide attendees with a comprehensive roadmap for preparing for VM-22, addressing critical questions that will shape a successful transition: What are the key considerations when deciding between early adoption and waiting until the end of the transition period? How will reserve levels shift under the new framework, and what strategies can help mitigate financial volatility? What models, tools, and analyses are needed not only to comply but also to interpret results, manage risks, and help leadership gain confidence in the results?

Description: The panel will discuss several product challenges including modeling hybrid/combo long-term care products, modeling benefit options that are difficult to model using deterministic methods, modeling current situs of care versus original situs of care, monitoring assumptions, streamlining experience studies within the Long-duration Targeted Improvements (LDTI) framework, and model decision making with limited credible data. The panel will then move into solutions observed to address some of the aforementioned challenges and the future of long-term care modelling

Description: As long-term care enters into its fifth decade, the product continues to evolve. Current trends as well as innovative product designs pose many challenges as carriers seeks to model long-term care.

Description: The session is based on an article of the same name featured in the January, 2023 issue of Health Watch. It gives a step-by-step method of how to apply the average paid PMPM method to calculate IBNR with zero run-out, as opposed to current methods, which generally require a three-month run-out period. Methods for obtaining confidence intervals for the IBNR estimates will also be discussed.

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: This article reviews why financial reporting controls are relevant to actuaries. It also discusses the impact of LDTI on controls and the strategic decisions that insurers need to make.

Description: The article investigates the reasons behind non-zero financial implications for fully reinsured businesses within the regulatory frameworks of US GAAP Long Duration Targeted Improvements (LDTI) and International Financial Reporting Standards (IFRS) 17. It helps companies grasp the nuances of these standards, thereby enhancing their risk management strategies, improving regulatory compliance and optimizing their decision-making processes.

Description: As an addendum to a July 2022 article, this article restates the formulas then presented for a framework to measure the reinsured portion of a direct loss from capping a net premium ratio or flooring a liability. The article corrects a flaw in one of the original formulas and shows, by example, how the framework can be applied to a specific application of reinsurance accounting.