Description: There is increasing industry interest in applying behavioral science to optimize product design decisions and improve outcomes for both insurers and their customers. With a growing set of options within product designs, predicting consumer behavior continues to get increasingly complex. Join this webcast for an overview of key behavioral economic concepts. Key insights will be shared from two SOA projects that explore how behavioral economic techniques can be used in various parts of the life insurance new business process and enforce management.

Description: The surge in interest rates over the past few years presents opportunities for life insurers to enhance their Asset and Liability Management (ALM) positions through asset rebalancing to narrow the duration gap and secure higher risk-adjusted yields. This webcast introduces a robust, efficient and readily-executable, liability-driven strategic asset allocation (SAA) framework and implementation considerations. At the conclusion of the webcast, attendees will learn about the key objectives and practical considerations for a successful SAA.

Description: The Society of Actuaries will be offering this webinar series intended to educate and investigate aspects of life insurance, annuity, and long-term care product tax compliance. Developed by the Taxation Section, participants will be brought up to date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC) and allow ample opportunities for questions and information exchange. This session will provide an intense introduction to the basics of product taxation, with a focus on annuities.

Description: The Society of Actuaries will be offering this webinar series intended to educate and investigate aspects of life insurance, annuity, and long-term care product tax compliance. Developed by the Taxation Section, participants will be brought up to date on recent Internal Revenue Service (IRS) guidance and learn about the newest tax issues related to product design and administration. Legal, IRS and product development experts will provide vital insights into the challenges of developing and administering products within the requirements of the Internal Revenue Code (IRC) and allow ample opportunities for questions and information exchange. The session will look to define the “Product Tax Compliance" and "Information Reporting" Operational Risks associated with the administration of life insurance, annuity, and long-term care products. Panelists from leading insurance companies will discuss practical, real-life situations that they encountered and strategies they have used for risk mitigation.

Description: This session will focus on US GAAP accounting for life insurance and annuity transactions from an actuarial valuation perspective. With the high volume of recent M&A and reinsurance activity, many companies are onboarding blocks of business and performing Purchase GAAP (“PGAAP”) or PGAAP-like exercises. Methodologies for establishing liabilities and intangible balances often vary based on the unique aspects of each transaction. This first half of this session will provide an overview of PGAAP elements and considerations, while the second half will dive into examples using interactive case studies.By attending this session, you will learn:• Perspectives and approaches for initiating reserves and intangible balances when onboarding a new block of business

Description: "Risk Management starts with identifying, quantifying, and then monitoring the key risks a company is exposed to. From a life company perspective the key risks are investment returns, expenses, and mortality. IFRS17 allows quantifying and measuring those key risks by building expectations, as in the initial recognition, and monitoring the actual outcomes achieved, as in subsequent measurement. Risk can be measured, monitored, and corrective action taken by allowing the experience to emerge and be compared to our initial estimates. Comparing initial vs. subsequent figures allows the company to identify whether it had a profitable quarter or not. For a profitable quarter, it makes sense to release profit from the CSM and RA accounts. For a non-profitable quarter, it makes sense to build up funds in the RA account from CSM funds so that no profit is released. In this case, the release from the CSM exactly matches the buildup of RA_release, as no funds are released to shareholders. Two examples of subsequent measurement scenarios will be given along with their initial Recognition figures: one exceeding IR figures and the other losing to IR figures. We will see how to manage risk by controlling the release of shareholder funds. Comparing actual vs. expected figures allows us to do this. We will also see how this affects the Embedded Value and Value of In-force business. Key Learning Outcomes: 1. Given the Initial recognition figures, compute profitability and required releases of the risk adjustment RA and CSM accounts. 2. Calculate subsequent measurement figures for SR_RA, SR_CSM, and Value of in-force business."

Description: Asset intensive reinsurance has become a focal point of actuarial, administrative, and regulatory consideration recently. This session will walk through one such real-world reinsurance case study of an illustrative transaction - from the initial actuarial-related due diligence process of the cedant's subject business through the onboarding and integration of the subject business into the reinsurer's platform. The following topics will be addressed: actuarial due diligence, experience studies and assumption setting, model validation, model development, and onboarding of the subject business. The session aims to provide a variety of insights into this process across different business units and functions. At the conclusion of the session, attendees will have a firm understanding of a variety of transaction-related topics within the context of a real-world transaction.

Description: In this presentation, we will explore the latest investment trends shaping the life insurance industry today. We will start with an overview of the various types of assets and strategic asset allocations that are prevalent within the industry. Moving beyond the basics, we will delve into an advanced asset optimization tool that is revolutionizing how asset portfolios are constructed. This tool considers factors such as asset liability cash flow matching, target yields, durations, Risk-Based Capital (RBC) requirements, and asset type restrictions. As the life insurance sector places greater emphasis on sophisticated asset management and navigates increasingly complex portfolios, understanding and leveraging this optimization tool has become crucial. Join us to gain valuable insights into optimizing asset portfolios to meet the evolving demands of the life insurance industry.

Description: 2025 ValAct Virtual - Professionalism panel

Description: In this session, we will delve into the complexities of liquidity risk within insurance portfolios, focusing on how insurers manage this risk in an increasingly competitive and volatile market. With insights from industry leaders and real-world examples, attendees will gain a comprehensive understanding of the factors driving liquidity risk and the strategies used to mitigate it. We will explore the impact of economic policies, market dynamics, and regulatory changes on liquidity risk management.