Description: In this session, actuaries and data scientists will describe how the Cleveland Clinic has utilized large language models to support caregivers with difficult end of life conversations with patients and their loved ones. While artificial intelligence is often prefaced with words of caution, it can also be harnessed for good.

Description: The video features Chris Onken, a principal and consulting actuary at Milliman. It focuses on identifying equity volatility risk and fundamental strategies to manage it. The discussion covers various types of volatility, including realized, implied, constant, and stochastic volatility, and their applications in projecting asset price volatility. Additionally, the video explores static and dynamic hedging techniques for managing volatility risk. This video provides valuable insights for professionals in the insurance industry.

Description: This interactive session will compare industry predictions versus what happened with the unwinding of continuous coverage requirements in Medicaid that were first put in place due to the COVID-19 public health emergency. The audience will be able to participate in a guessing game as the panelists review how enrollment could be stabilizing.

Description: Model Risk Management at insurers has been an established practice for well over ten years now. Until recently, a primary focus of model governance was on actuarial models. The Gen AI evolution we’ve experienced in the last two years, has shone a spotlight on “all things AI”. Along with the increased capabilities AI brings, there is increased concern for the proper use of these models, protection of IP, safeguarding of PII, and overall security. This session will bring together a diverse panel to discuss how we can adapt our established practices for these new models to minimize the risks that come with Gen AI and help our organizations optimize the benefits of AI.

Description: How might retirement income strategies be designed and their suitability assessed when retirees may differ substantially in their objectives, preferences and personal circumstances? Gain a wide-ranging overview of the key elements involved in formulating retirement strategies, drawing on the report, Primer on Retirement Income Strategy Design and Evaluation, which was recently released by the Society of Actuaries (SOA) Research Institute's Aging and Retirement Strategic Research Program. Hear about three types of income objectives-income floor, income target and income optimization-and how they imply different retirement strategies along with a different set of metrics to evaluate outcomes. We will also touch on key member attributes to account for: The nature of income risk, approaches to investing and drawing down on available assets to generate income, and how stochastic modeling can support the analysis. You will find something of interest in this session, regardless of prior familiarity with strategies for retirement.

Description: Health Insurers commonly face challenges regarding data including: Limited knowledge of how to handle large datasets Lack of a common language to discuss data challenge Limited understanding of how to use data and analytics to inform and facilitate decision-making We are seeing a turn in the market to use data and analytics to cultivate an insights-driven culture. But we are noticing a disconnect between the actuaries that are able to glean these insights and the new technologies required to handle the amount of data available to them. During this session you will look at moving from MS Excel to more advanced data handling and modeling tools (e.g., Alteryx), visualization tools (e.g., Power BI & Tableau) and expanding utilization of these tools and analytics. By attending this session, you will: • Understand data and analytics (D&A) concepts, methods, and fundamentals to help drive value. • Gain an appreciation for data privacy, protection protocols, and related ethical considerations when working with data. • Be able to identify of how to use data and analytics to inform and facilitate decision-making.

Description: Almost half of recent FDA approvals have been for orphan drugs. This trend is expected to continue in 2023. Orphan drugs are priced more than 30 times higher than non-orphan drugs, therefore their cost burden in aggregate has the potential to overwhelm the budgets of payers, especially that of smaller health plans. Hear how the cost impact analysis for smaller health plans require different considerations than for a larger health plan when modeling the impact of rare diseases.

Description: The frequent use and complexity of today's actuarial projection models has increased the importance of having efficient models. Model optimization can reduce both cloud costs and overall end-to-end clock times, thereby allowing companies to do more with less such as reducing close times, increasing controls, enhancing analysis, doing more complicated calculations, and/or improving employee workloads during the close. From design and data to execution and audit, come explore techniques that can be applied throughout the actuarial modeling process to optimize actuarial models for improved run-time, accuracy, and reliability. There will be a focus on techniques that don't rely on model compression. Topics covered include model design pitfalls, data handling, improving convergence on asset-liability projections, strategies for interacting with the cloud, and other tips for optimizing actuarial models.

Description: En el seminario hablaremos sobre los nuevos flujos de tarificación, y nos enfocaremos en la inclusión del análisis geográfico en el proceso de modelado para optimizar la extracción del riesgo en modelos de Machine Learning.

Description: Modern Actuarial work, being quite data intensive, provides many opportunities for actuaries to use the statistical skills that are part of their basic training. Furthermore, modern computing allows us to analyze vast quantities of data intensively, and each package will provide statistical 'answers' to any questions the actuary might ask of it. However, in this particular field, it is often worth taking a step back, and ensuring that we recall and consider the warnings that come with each of the statistical procedures we might attempt to use. This will allow us to ensure that we guard ourselves against drawing inappropriate conclusions, which could come back to haunt us later.At the conclusion of the session, attendees will be able to avoid drawing inappropriate statistical conclusions, while doing their work. They will leave informed about the types of pitfalls that exist, and where those might come into play in actuarial work.