Description: Dive into Risk-Based Capital concepts and learn about regulatory updates that have recently been implemented, as well as future updates under development. Come examine reinsurance solutions and considerations which manage risk and RBC, including traditional reinsurance, financial reinsurance, and captive solutions.

Description: Discuss how the reinsurance can be utilized to manage the risk profile of the company. Potentially we can use a case or two to demonstrate the usage of reinsurance.

Description: Presenters will explain how traditional distribution channels are being reshaped by emerging technologies such as artificial intelligence, data analytics, and digital platforms. Participants will gain insights into how these technologies are not only enhancing customer experiences, but also enabling insurers to reach new markets and demographics more effectively. A central theme is the importance of collaboration and breaking down silos within insurance companies. The session will be interactive featuring case studies showcasing both the triumphs and failures of innovative distribution initiatives. By dissecting these case studies, participants will glean valuable lessons on what works and what doesn't when attempting to bring about change in life insurance distribution. Attendees will learn to appreciate the challenges faced by distribution and how collaboration across departments - from underwriting to marketing to IT - can unlock new opportunities and drive significant growth in distribution strategies.

Description: Welcome to the appellate court. We’ve seen some scare in mass media on climate-linked mortality, but not sure what to make of that in our actuarial practice. Both data and research is quickly evolving around climate change’s impact globally and to US mortality. We’ll share a few tidbits from recent actuarial research on wildfires and air pollution in particular. At the same time, there are still many unknowns on the long-term effects, and this phase of understanding is ripe for calling on a diverse group of experts. We bring expert witnesses from different professions to the actuarial stand to answer whether climate change’s impacts from heat wildfire-induced air pollution to mental health is a credible and material threat to insured mortality. The audience should come ready to judge the arguments presented.

Description: While European insurers are subject to Solvency II and some Asian insurers adopted IAIS ICS, Bermuda enhanced its BSCR capital framework on 3/31/2024 and Japan has customized IAIS ICS to create Economic Value-Based Solvency Ratio (“ESR”). ESR will replace the existing capital framework from 3/31/2026. The ESR implementation brings significant changes to life insurers in Japan as it did to European insurers at the time of the Solvency II implementation. This session will discuss the background of the ESR framework, under which Japanese life insurers will be subject to increased governance, supervision will be also enhanced, and provide key comparisons to IAIC ICS and BSCR. Panels will also discuss potential implications to business such as strategy, risk management, and reinsurance for the viewpoints of Japanese life insurer with US and/or Bermuda subsidiaries.

Description: This session will explore the mortality implications of reaching new markets, leveraging unique analysis that directly compares the mortality experience of the general populations and insured populations. Experts will explore how the industry can responsibility reduce the insurance gap, effectively employ digital data to assess new markets, and tackle the challenge with eyes wide open. At the conclusion of the session, attendees will be able to: •Understand differences in mortality experience between various populations – general, insured and uninsured •Articulate the challenges the industry may face in closing the insurance gap •Appreciate the role digital evidence can play in managing and accessing new marketing segments

Description: We will discuss how climate change risk represents radical uncertainty and the challenges this presents in integrating climate risk analysis and traditional investment risk analysis. The session will then explain and illustrate why deterministic, narrative-based, scenarios form a suitable basis for analyzing the potential impact of climate change on investment portfolios and strategies. At the conclusion of this session, attendees will understand deterministic and stochastic approaches to integrating climate risk with economic scenarios and how these can be applied in investment management. Attendees will also understand the challenges in creating a realistic integration of climate and economic scenarios.

Description: The US market sees hundreds of pension risk transfer (PRT) transactions close each year, with both publicly traded and private equity-backed insurance companies active in the space. This session would cover several topics involved in pricing a PRT deal, including assumption setting, reserve considerations, and the use of Strategic Asset Allocation (SAA) in PRT. The session would also include discussion of technologies, including SAA techniques, that can support rapid and timely pricing for these deals. Participants will gain insight into the PRT pricing framework, as well as a better understanding of the competitive and dynamic PRT market.

Description: This discussion will cover regulatory changes in the US and Bermuda insurance industry. A regulator will discuss the motivations behind these changes, how the industry has responded, and their outlook on insurance regulation in the coming years. An industry professional will then analyze the investment implications of regulatory changes and how insurers can adapt their investment strategies to take advantage of the new landscape. The discussion will provide insight into recent regulatory developments and their impact on insurer operations and investment opportunities.

Description: The Smaller Insurance Company/Chief Actuary Forum presents a unique format for focusing on issues faced by actuaries in leadership positions or actuaries supporting the Chief Actuary. By discussing critical issues with your peers, you will leave with ideas to incorporate in your business environment. The Forum will feature presentations to introduce several of the discussion topics, followed by an opportunity to break into smaller discussion groups and rotate among topics.