Description: This report describes a simple way to construct a bivariate copula with specified marginals and partially specified dependence. For example, the method allows one to model tail behavior scenarios while holding the core of the joint distribution fixed. An Excel workbook named CopulaExample.xls is provided to illustrate the method, including its use in Monte Carlo simulation.

Description: The prospects for China's health insurance has increased significantly in 2018, incentivized by a series of favorable government policies to support the development of commercial health insurance. However, the market still lacks relatively mature products and services. Overall there is a common understanding in the industry that good coverage plus service is the foundation for health insurance future development, and product innovation plus care management is key for an insurance company to maintain sustainable development in the competition. In this presentation, Dr. Yang will discuss the market trend both at home and abroad with respect to health management as well as its impact on product design, pricing and cost control. With the development of internet and big data, today’s health actuary has a special role in taking advantage of the digital transformation and achieving a high-quality and efficient health care service model.

Description: The speaker will share his insights into the hedging challenges faced by FIA and VA business in the current market environment.

Description: This session provides actuaries who work with group life and disability products with the opportunity to participate in a moderated discussion with their colleagues. The specific topics will be those of interest to attendees, but are likely to include recent experience trends, product development, pricing and reserving.

Description: Healthcare cost is increasing at 9.3% in Asia in 2017 and health insurance cost will eventually catch up, making healthcare unaffordable to aging populations. Inefficiency in healthcare system is a contributing factor. In this session, use cases on how AI is impacting the health insurance operations on 3 core challenges. Document processing: A lot of documents are generated in the healthcare ecosystem, medical reports, diagnosis, invoices etc. Currently most of the documents are still reviewed manually and rely heavily on users’ judgement. Customer engagement: Customers are generally under distress and feel rejected during the claim process. It is due to the time and process needed to get the information they look for, the gap between the sales and claims process, and the reimbursement amount. Claim settlements: Claim adjudication is a technical process that review the disease, treatment and policy coverage. The process is specific to disease and difficult to be generalized. Thus, the process is far from consistent and invites fraud, abuse and wastage in this area.

Description: This seminar is designed to give life and annuity practitioners an in-depth view of the important topics and fundamentals of reinsurance, from the perspective of a U.S. life insurance company. Reinsurance industry experts will present on the various types of reinsurance, contract issues, financial implications and other considerations. Attendees will leave this seminar with a stronger understanding of life and annuity reinsurance, and current topics. Keep in mind this seminar is designed for participants with a moderate level of experience. Educational Objectives • Provide attendees with a stronger understanding of life and annuity reinsurance, and current topics • Give attendees an in-depth view of important topics and fundamentals of reinsurance

Description: To discuss in practice, in order to control the deviation of cash flow forecast, some optimizations can be made on the basis of actuarial model, including short-term surrender rate optimization, grace period premium adjustment, inter-account cash flow transfer and so on.

Description: To discuss the principles to be followed in the determination of dividend distribution scheme, how to ensure the fairness and sustainability of dividend distribution, and the specific issues to be considered in the practice of dividend distribution.

Description: After 23 years, the new guidelines for insurance contracts have been released, which describe life insurance economic behavior and show its operating results in an unprecedented and complex accounting language. The management of the insurance industry, as well as accounting and actuarial professionals, will face new challenges. This speech started from the basic logic of accounting and the framework of the standards, combined with the insurance industry's operating rules and accounting characteristics, to illustrate the orientation of the new insurance contract standards. From the internal and external perspectives of life insurance operation, this paper used common management language to discuss the understanding of the new insurance contract standards, the focus issues of the industry and the key issue of the effective implementation of the new standards -- the deep integration of accounting and actuarial.

Description: The presenters in this session will discuss the simultaneous use of DB and DC plans. With the continued growth of DC assets and the freezing of DB plans, it is increasingly common to see DB participants with a DC plan that is more than just supplemental. Because of this, it is important that retirement professionals see DB and DC plans as not just competitors for contributions, but as partners. The presenters will discuss how that partnership can work and how the presence of a DB plan can influence the design of DC solutions such as target date funds.