Description: Discuss recent pricing trends and best practices related to the hottest selling deferred annuity product. Understand how and why pricing methodologies and approaches have changed over recent years given the steep rise in interest rates, how the risk landscape has changed due to the market environment, and where shortcomings may still exist.

Description: It's your first full day of productive learning! Join us for the opening session to celebrate the volunteers, hear from 2023–2024 SOA President and Chair Tim Rozar on the SOA’s strategic plan, and gain insights from the keynote presentation on AI and ethics.

Description: In this session, we will explore recent industry-wide studies focusing on mortality and policyholder behavior patterns across both Life and LTC lines of business. The Life study analyzes extensive data collected over 2018-2022, providing a unique perspective on trends heading into, during, and emerging from the pandemic. The study covers 2.5 million deaths and over 5 million voluntary surrenders and fund lapses across term and permanent life products. The LTC analysis will focus on the components of policyholder termination, with an additional perspective of total termination patterns prior to, during and post-pandemic periods. The analysis will examine cohorts of policyholders to identify the area of largest deviations from expectation and how that translated into short term results as well as where we are today. The aggregation of experience across participating companies provides insights into areas where a particular insurer’s data is not credible on its own, including: older ages, preferred/standard classes and more. At the conclusion, attendees will have an understanding of how experience emerged and considerations for setting assumptions going forward.

Description: Life insurance with LTC features is exciting business to produce, but the complex for a valuation actuary at year-end. This session will discuss setting morbidity and policyholder behavior assumptions for principles-based reserving and cash flow testing more generally. We will review considerations for GAAP reserving for hybrid products. We will highlight the interaction of assumptions whose risks offset (mortality, morbidity, lapse, and more) and how the valuation actuary may think of these in sensitivity testing and setting prudent estimates. Panelists will draw from the 2022 Academy of Actuaries Combination Product Valuation Practice Note.Finally, we will discuss reserve assumption setting in light of public-private LTC legislation (e.g. Washington Cares), which inspired sales of hybrid life and LTC products in the individual and worksite markets.

Description: Actuaries are well-known for their strong technical skills-in particular, their ability to analyze complex information, draw logical conclusions, and develop solutions to improve business results. In order to maximize their impact, however, actuaries must pair strong technical skills with excellent communication skills. As their careers advance, the actuary's audience continues to broaden to include non-actuarial professionals from a variety of disciplines, senior executives, and customers. They must learn to communicate effectively with any audience that they are faced with. They must be able to make a compelling case for their point-of-view in a simple and succinct fashion. This highly interactive workshop is designed for actuaries at various levels to learn how to improve their communication skills by actively participating via polling and open forums.

Description: Both LDTI and IFRS 17 have introduced numerous new metrics with most companies having only crossed the finish line, just complying with what's needed for reporting due the complexity and large amounts of data required to simply comply. How do you leverage all the work you did to get proper business insights across the organization that tie back to these reporting metrics? This presentation covers a perspective of pain points faced in getting over the the hurdle in complying with LDTI and IFRS 17, upcoming hurdles, emerging KPIs, as well as how to best manage the data, technology, and processes to produce the analysis around these KPIs efficiently.

Description: Dana M. Peterson, chief economist for the Conference Board, has established herself as a visionary, and the go to expert providing insightful analysis and predictions to corporations, associations, and government organizations looking for clarity and foresight into how economic drivers might impact their businesses in the short- and long-term. With over two decades of experience in the field, she serves as the globally recognized think tank’s public face and primary spokesperson on all things related to the economy.

Description: Our panelists will explore fixed income topics from an actuarial perspective. We'll start with the basics of bonds, including sensitivity measures like duration and higher moments. Then, we'll discuss bond ALM characteristics, highlighting the advantages and disadvantages of incorporating various bonds into a portfolio. Finally, we'll cover actuarial modeling considerations, such as reinvestments, defaults, expenses, and other assumptions. We encourage the audience to ask questions throughout the presentation and we hope you can join us for an engaging discussion!

Description: This video by Arthur da Silva, FSA, FCIA provides a primer on Application Programming Interfaces (APIs), which are mechanisms that enable communication and integration between different software components. The video explains what APIs are, how they work, and how they are used by actuaries today and in the future. The video also discusses the benefits and trade-offs of APIs, as well as some examples of common and actuarial-specific use cases.

Description: The insurance industry recently adopted two significant accounting changes. Good risk management requires a solid understanding of new risks as well as a proper set of controls. Learn how internal audit can help actuaries better understand arising risks and build a more robust control framework.