Description: In this session, morbidity and life expectancy trends are discussed. In addition, a case study in R on how to model the uncertainty associated with incidence of disability, disabled and active deaths and other terminations is presented.

Description: In this session, attendees will learn to model historical mortality rates and to forecast their possible future scenarios, using a freely available and well-tested toolkit written in open source R. The core of the toolkit is implemented in the R package StMoMo (https://CRAN.R-project.org/package=StMoMo) and enables a practitioner to derive best estimate and measurements of uncertainty using academically robust demographic and actuarial mortality projection models.

Description: Key performance indicators (KPIs) are essential in order to monitor and communicate a life insurance companies’ financial results, and effectively manage the business. This presentation will illustrate how the currently used KPIs may develop and evolve with the adoption and implementation of IFRS 17. Will the IFRS 17 insurance revenue be an appropriate measure for growth? Will the profitability and new business value measures be different? The panelists will discuss the implications of IFRS 17 on the existing KPIs and the possible changes that may lay ahead

Description: The optional phase-in period for life principle-based reserves (PBR) has come to a close, and companies have put in the work to bring their PBR implementations across the finish line. With the mandatory PBR implementation deadline behind them, companies can turn their attention from compliance to model and process improvements. The presenters will outline lessons learned from PBR implementations and their applications to broader use cases, as well as resources that are available for PBR modelers. Discussion topics will include items such as: Model simplifications and validation Model run-time techniques Model scalability (e.g. adding new products / future assumption updates) Sensitivity testing Model projections Available PBR & other modeling resources (e.g. PBR practice note, ASOP 56)

Description: The valuation manual is a living document that continues to evolve. As more companies adopt Principle-Based Reserving (PBR) and file PBR Actuarial Reports, regulators have observed gaps and inconsistencies across the industry. As a result, PBR reporting requirements (VM-31) have expanded significantly in 2020 and still continue to evolve. This session will provide attendees with everything they need to fill out their PBR reports for both Life business and Variable Annuity business. We will dig into the new changes effective for 2020 reporting and approved changes for 2021, and compare and contrast the Life and VA requirements to help companies identify areas that can be leveraged between the two. In addition, we will share insights from regulators, consultants, and company actuaries on what to include or exclude in your report.

Description: The speech briefly analyzed the national reimbursement list from the perspective of health economics. The overall principle and logic behind it, and the relevant important considerations; In the construction and practical use of the national reimbursement list, it discussed the commercial insurance directory importance and enlightenment of national reimbursement list to establishment of commercial insurance directory.

Description: Since IFRS17 draft was issued in June 2019, IASB has discussed various important issues, such as the selection of B137 and the judgment to investment components. This session will be focused on the discussion and sharing of these aspects, to help understand the latest developments. At the same time, actuaries played an important role in the implementation of IFRS 17. The speaker will share the important work of actuaries in the implementation and application of IFRS 17 through the observation of the previous implementation process.

Description: Several key market trends have encouraged the development and launch of direct to consumer business models over the last few years. The presenters will look at the impact this is having on traditional business models and the potential it has to open up growth paths to target markets. They will cover several new entrants coming to market aiming to solve specific industry gaps and/or create new opportunities in distribution, risk assessment, customer engagement and the consumer buying experience.

Description: There has been significant discussion of PBR for Life Insurance, but there has also been progress in development of PBR for annuities; including VM-21, VM-22, and future VM-23. The presenters will look at the progress in PBR for annuities and what the future may hold.