Description: The speakers will share the international experience in the annuity market, discuss the annuity puzzle and the influencing factors of annuity supply and demand, and express their views on the annuity market trend under the aging and longevity trend of China's population and longevity risk management of annuity products.

Description: In this interactive forum, presenters will share best practices to get the most out of your AU program. Explore trends in regulations, big data tools and predictive models. Case studies will be used to illustrate how monitoring results can provide actionable information for management to update programs and what it all means for accelerated underwriting programs. Attendees will come away with a better understanding of how tools are evolving, regulatory trends and best practices for explaining decisions to applicants, as well as targeted changes to accelerated underwriting programs

Description: This session is a primer on how to apply Gestalt psychology to display quantitative information to improve neural receptiveness. While much of brain functioning is still a mystery to psychologists and neuroscientists, we do understand a great deal about which parts of the brain engage or disengage given visual cues. Actuaries are often tasked with presenting very technical information and are prone to focus more on the substance of numerical data rather than a pictorial presentation based on neural preferences. This presentation will discuss how to display quantitative information more effectively tailored to these preferences.

Description: The proposed revisions to the variable annuity statutory framework and the FASB targeted improvement for long duration contract, motivate life insurance companies to re-evaluate their hedging strategy. Recently proposed revisions of AG 43/VM-21 and C3 Phase II, reward companies that have a clearly defined hedging strategy, if the companies can demonstrate that the valuation model and capital model can estimate real hedge performance accurately. The speakers of this session will discuss the hedging implication of the proposed AG 43/VM-21 and C3 Phase II framework. Additionally, methodology computational requirements, back-testing results under different economic scenarios and the resulting hedge credits of different hedging strategies will be compared, including explicit dynamic hedge and implicit dynamic hedge. The speakers will also touch on the impact of rebalance frequency on the performance of dynamic hedge. Case studies will be presented to provide guidance on practical implementation.

Description: After International Accounting Standards Board (“IASB”) issued International Financial Reporting Standard No. 17 – Insurance Contracts (“IFRS 17”), IASB received much feedback and suggestions for improvement. As a result, in early 2019, IASB made limited changes to IFRS 17. The presentation will briefly discuss the main contents and effects of those changes.

Description: Since the international financial crisis, accounting standards have become an important part of financial supervision rules, which objectively requires us to study the reform and development of accounting standards from the perspective of financial stability. Since the release of IFRS17 in 2017, the research and discussion of IFRS17 in the insurance industry has focused on technical details and implementation, while the economic impact and pros and cons analysis of IFRS17 are few. As a result, the industry's understanding of IFRS17 is not comprehensive enough, and there are still many disputes, and no industry consensus has been formed. In the future, the insurance industry should strengthen the research and analysis of IFRS17 from the perspective of financial stability, deepen the understanding and cognition of IFRS17, and improve the ability to control and use IFRS17.

Description: Infrastructure investments are growing as an asset class in institutional portfolios because they present significant diversification benefits to investors, and importantly for pension plans, typically represent long-term projects. Infrastructure presents a unique opportunity for investors interested in long-duration products that help match liabilities. This session outlines the structure of infrastructure deals, how investments can be made through either equity or debt financing, the importance of ESG, and how to incorporate infrastructure in an institutional portfolio.

Description: The presenters will focus on best practices in drug claim management in North America. The presentation is geared toward Canadian practice and insights, but is useful for practitioners in the U.S. and elsewhere, as well.

Description: As any international traveler who has tried to plug in an electronic device knows, the human race is great at devising many different ways to accomplish the same task. Predictive modeling is no different. Data scientists can choose from a wide variety of languages to prepare data, fit models, and verify results. The Rosetta Stone, which showed writing composed in three languages side by side, was instrumental in translating unfamiliar Egyptian hieroglyphics into the more common Greek language. This presentation follows a similar approach by showing the same predictive model implemented in the following languages: R, Python, Spark, MatLab, and SAS. Participants will compare and contrast each of these languages and, by doing so, build a greater understanding of those languages less familiar to them.

Description: LON-CAPA is a full-featured course management, learning content management, and assessment system. It was initially developed by Michigan State University under several National Science Foundation grants. You can run LON-CAPA for free on your own dedicated server. Purdue University has used LON-CAPA to create a robust online homework system for the Financial Mathematics material of the FM Exam. This homework system is in the public domain and may be used by any university running LON-CAPA. This session will provide additional information and include a demonstration of the system.