Description: As companies strive to remain competitive in today's dynamic marketplace, the role of Financial Planning & Analysis (FP&A) has evolved significantly. It has transitioned from a purely operational function to a strategic imperative. This is most apparent in the life insurance sector, where complex regulatory changes and technological advancements are reshaping traditional practices. In this session, we will delve into the critical aspects of modernizing FP&A within the life insurance industry, exploring key challenges, emerging trends, and best practices. Key areas of discussion include: - Navigating Different Regulatory Frameworks: Companies have to navigate different regulatory lenses for various purposes including budgeting, capital management, rating agencies review, etc. The implementation of regulatory frameworks such as IFRS 17, LDTI, and Principles-Based Reserves (PBR), and the recent trend in establishing Bermuda entities has significant implications for financial reporting and capital management in the life insurance sector. We will discuss how companies can explore strategies for compliance and adaptation within the FP&A process. - Strategic Planning and Resource Allocation: Companies are faced with higher expectations to guide both internal and external parties on the financial impact of their plans. A comprehensive exploration enabled by advanced analytics is critical for communicating, prioritizing, and allocating a company's resources on transactions, product development, and capital management. Our panel will explore how strategic planning has advanced in recent years, providing insights into effective approaches for aligning strategic objectives with financial resources. - Technological Advancements: The rapid pace of technological innovation has opened new possibilities for FP&A, offering advanced modeling techniques and data analytics capabilities. However, many organizations face challenges in harnessing these technologies effectively. This session will examine the role of technology in modernizing FP&A and highlight best practices for implementation. By attending this session, participants will gain: - Strategies for aligning strategic planning with resource allocation and effectively communicating financial impacts to internal and external stakeholders. - An understanding of the current state of FP&A within the life insurance industry, including emerging trends and challenges. - Insight into the implications of regulatory and technological advancements on FP&A processes and functions. - Best practices for leveraging technology to enhance FP&A capabilities and drive strategic decision-making.

Description: This session is an in-depth interview of Amanda Hug and Micheline Dionne, president of the SOA and past-president of the International Actuarial Association (IAA), respectively. SOA is the largest professional society for the actuarial profession, and the IAA represents actuaries from over 100 countries. We’ll touch on topics such as AI, the future of work for actuaries, DEI (Diversity, Equity and Inclusion), among others. At the conclusion of the session, the attendees would be able to get a better understanding of the strategic directions of both organizations and how each plans to navigate its perceived challenges and opportunities. Interviewees: Amanda Hug, FSA, MAAA, Director at WTW, incoming president of the SOA Micheline Dionne, FCIA, Past-President of International Actuarial Association (IAA) Interviewer: Jing Lang, FSA, FCIA, President of Deepwork Academy and host of the Be Brilliant with Jing Lang podcast.

Description: Delve into the nexus of actuarial science in the heart of D.C. This session offers an in-depth look at the sophisticated mechanics behind additional health insurance reserves, framed by the unique regulatory landscape of national policy. As we explore premium deficiency reserves and additional reserve requirements, attendees will understand how regulatory oversight and frameworks influence these critical actuarial items. Through engaging discussions and case studies, we'll uncover the strategic intersections between actuarial decisions and policy implications, offering insights into effectively navigating the complexities of governance and regulation as they relate to additional health insurance reserve. Join us for a compelling journey through the art and science of actuarial work in the political arena.

Description: This session will explore the considerations and best practices for developing AI tools that are useful, safe, and transparent for actuarial work. While large language models (LLMs) offer exciting possibilities, it is crucial to understand when and how to use them effectively. The session will cover key concepts of LLMs and case studies on developing AI tools for retrieval-augmented generation and summary creation of actuarial documents. Attendees will learn about the importance of designing workflows that nudge users towards safe and effective processes. By the end of the session, participants will gain insights into the responsible use of LLMs in actuarial practice and learn how to leverage their potential to support professional growth.

Description: Join us as we delve into the dynamic landscape of the Fixed Indexed Annuity industry. Presenters will discuss trends observed in recent FIA experience, observations from their own company's data, and findings from Milliman's FIA industry experience studies. Key results include a view of surrender behavior relative to market dynamics and comparisons with industry predictive models, serving as a benchmark to explore where industry experience aligns with expectations and where potential surprises have emerged. Through a combination of data-driven analysis and expert interpretation, attendees will gain valuable perspectives on the evolving FIA landscape, enabling them to make informed decisions to navigate future challenges.

Description: The session will address the potential benefits of (re)opening corporate defined benefit plans for plans for plan sponsors and participants alike. Despite a shift from DB to DC trend over the last 20 years, this topic is particularly relevant as many US plan sponsors are enjoying overfunded DB plan funded status, struggling with retirement income solutions in DC plans, and navigating workforce management and recruiting considerations. This session will discuss how innovative plan designs, such as market-return cash balance plans and variable-annuity plans, reduce plan sponsor risks associated with traditional DB designs. We will also discuss investment, balance sheet, retirement readiness, and implementation considerations.

Description: This session reviews the importance of using benchmarks in healthcare utilization management to improve organizational and patient outcomes and increase efficiency. It highlights how benchmarks can inform decisions about utilization management strategies and benefit members, payers, and providers. The presentation includes best practices, successful examples, and solutions to challenges, focusing on claim utilization, risk adjustment efficiency, quality metrics, and overall performance. Additionally, insights into the future of benchmarks and the value of analyzing the entire distribution of data for deeper insights will be shared.

Description: The insurance industry is faced with many unforeseen changes such as recent advances in technologies and the associated impacts on the risk assessments. In this session, we focus on two specific developments; (i) the liquidity provision problem on automated market makers (a.k.a. DeFi exchanges such as Uniswap) and the conditions under which liquidity providers should enter or exit the DeFi token pools; and (ii) efficient utilization of drivers telematics data for better risk classification in personal auto insurance.

Description: The purpose of this session is to discuss hot topics pertaining to post-LDTI GAAP valuation for FIA and RILA products including FAS 133, market risk benefits, intangibles, and ceded GAAP. At the conclusion of this session, attendees will have a clear understanding of how the industry views GAAP approaches to indexed annuity products in a post-LDTI framework. In addition, attendees will learn about ongoing pain points in GAAP valuation for indexed annuities and areas of post-LDTI GAAP where the industry still has broad variation in methodology and application.