Description: By attending the session, you will learn: - Different perspectives around what FP&A is used for (e.g., strategic planning, performance measurement, management compensation, liquidity management, etc.) and why - Challenges leaders have faced and how they are being addressing - How recent regulatory, accounting, and technological change has impacted the FP&A function - Objectives for various organizations around both new analytics for business management, efficient production of forecast results, and potential for faster 'top down' forecasting

Description: Hear AM Best rating analysts discuss the rating process and the best capital adequacy ratio (BCAR), a quantitative foundation for AM Best’s assessment of carriers’ financial strength. The benchmarking of BCAR scores for various company types (national MCOs, BCBS plans, smaller regional plans) will be discussed. Look at how changes in investment and underwriting environment impacted the results over the past several years. Further, AM Best’s view of the quality of capital and various factors impacting the overall assessment of the balance sheet strength will be discussed.

Description: Observe how design thinking can be used to address emerging uncertainty in insurance. (Design thinking is a non-linear, iterative process teams use to understand users, challenge assumptions, redefine problems and create innovative solutions to prototype and test.) According to Fostering Innovation: A Guide for the Actuarial Profession, there is a need for more innovation in the actuarial profession. “A benefit of working in large, well-established organizations is that these workplaces have many problems to solve, but offer many resources, as well as a network of people for collaboration. However, it is interesting to note that the stability and predictability of cyclic work may also be seen as a negative by workplace employees, especially concerning creativity and innovation.

Description: Examine how investment portfolios have been changing over recent years with a panel of industry experts from the life insurance industry, and learn what lies ahead. This will be a highly practical session, with real-life case studies referenced as much as possible.

Description: When it comes to climate-related risks, what does the future hold? Will we see a rise in global temperature of 3 degrees Celsius or more, or can we keep it to less than 1.5 degrees? Will we see ambitious climate policies instituted globally in the near future, or will the status quo prevail, leading to irreversible changes to the climate and more severe physical risks? As actuaries, we are accustomed to planning for an uncertain future, but assessing the long-term impact of climate change poses a unique challenge. There are several public institutions developing scenarios like those above and others, which can help actuaries understand and assess the risks posed by a changing climate. Through scenario analysis, organizations can consider a range of possible outcomes to inform decision-making. Scenario analysis can be qualitative or quantitative, and there is no uniform framework that is currently being used by organizations that are studying the impact of climate change on their business. At the end of this session, participants will be able to: - Describe future climate scenarios. - Describe how actuaries can use scenario analysis to assess the impact of climate change and climate policies. - Explain why actuaries might use scenario analysis to understand climate risk.

Description: Join us for an insightful session on best practices in setting assumptions and margins for Life and Annuity Products. This session will explore traditional best practices outlined by the ASOPs as well as their application in the context of emerging trends and risks in 2024, such as predictive analytics and AI. The session will also cover evolving trends in assumption governance, as corporate ERM areas become increasingly involved in the assumption setting process. Learning objectives include refreshing and enhancing knowledge of existing ASOPs, as well as understanding strategies for emerging risks that the ASOPs do not yet cover.

Description: The last 20 years of global interest rate experience has low interest rates for long periods of time ('low for long'), negative interest rates, strange yield curve shapes, and now the most rapid increase in interest rates in our history. What is it we should be focused on as risk managers? Low for long, high rates due to prolonged inflation, or some blend of the two? The session will discuss our interest rate experience and the factors that appear to be dominant for the next decade. The session will address how one establishes a set of stylized facts to guide the development of a suitable interest rate model and how calibration targets can be determined. Discussion will then move to the suitability of existing interest rate models for capturing the real-world risks that actuaries and other finance professionals are concerned with. Are there interest rate models that are fit for purpose given the past 20 years of experience? A selection of candidate models will be discussed and illustrated.

Description: Review the Bermuda Monetary Authority's Consultation Paper I and focus on required changes to governance, risk management, modeling, lapse risk, filing requirements, model governance and more.

Description: "Most patients enter the health care system through their primary care provider or through the Emergency Room or an Urgent Care Center. How an emergency room is structured, managed, and provides care is one of the major forces impacting the total cost of care. Yet it is often an after-thought and ignored by both health plans and health systems. In reality, the structured introduction of efficient practices can substantially reduce the quantity and cost of health care services. Further explore useful information to better understand and see how there are still substantial opportunities for improvement."

Description: Over the course of ImpAct conference, we have taken you on a journey to understand the impact of climate change to the insurance industry. We have examined the risks to the industry both on a short and long term. We looked at tools and approaches, both on the liability and asset sides, to address this emerging risk. Evidences have shown, not only the need to incorporate climate risks is pressing, as an industry, we shall recognize the responsibilities to lead the evolution. This session aims to put everything together and explore progress on company's enterprise risk management (ERM) process to incorporate climate risks and enterprises' attempt to provide sustainability information to audiences in need. We will discuss the latest development in international standard on sustainability disclosure. We will diagnose the challenges on implementation and effort to resolve them. We will compare the requirements and latest developments across different jurisdictions and possible cross learning among them. To conclude, we will land on what opportunities are available to the actuarial community! At the end of this session, participants will be able to: - Discover requirements on sustainability reporting standards across different jurisdictions - Appreciate the challenges and progress to integrate climate risks in company's ERM approaches - Comprehend actuaries' opportunities and responsibilities to contribute