Description: Operationalizing LLMs

Description: Explainable AI

Description: Life insurance with LTC features is exciting business to produce, but the complex for a valuation actuary at year-end. This session will discuss setting morbidity and policyholder behavior assumptions for principles-based reserving and cash flow testing more generally. We will review considerations for GAAP reserving for hybrid products. We will highlight the interaction of assumptions whose risks offset (mortality, morbidity, lapse, and more) and how the valuation actuary may think of these in sensitivity testing and setting prudent estimates. Panelists will draw from the 2022 Academy of Actuaries Combination Product Valuation Practice Note.Finally, we will discuss reserve assumption setting in light of public-private LTC legislation (e.g. Washington Cares), which inspired sales of hybrid life and LTC products in the individual and worksite markets.

Description: Actuaries are well-known for their strong technical skills-in particular, their ability to analyze complex information, draw logical conclusions, and develop solutions to improve business results. In order to maximize their impact, however, actuaries must pair strong technical skills with excellent communication skills. As their careers advance, the actuary's audience continues to broaden to include non-actuarial professionals from a variety of disciplines, senior executives, and customers. They must learn to communicate effectively with any audience that they are faced with. They must be able to make a compelling case for their point-of-view in a simple and succinct fashion. This highly interactive workshop is designed for actuaries at various levels to learn how to improve their communication skills by actively participating via polling and open forums.

Description: In this video Jenna Fariss, ASA MAAA, delves into the nuanced relationship between actuaries and underwriters. She highlights the fundamental differences in their approaches to risk assessment. The discussion dives into the challenge of predicting individual mortality accurately, addressing concerns like anti-selection and the integration of predictive models and machine learning into underwriting practices. Ultimately, the session underscores the evolving landscape of mortality risk assessment, blending traditional methods with innovative techniques for a dynamic future in the insurance industry. Contributors: Jenna Fariss, ASA, MAAA, Anthony Champi, ASA, MAAA; Jon Forster ASA, MAAA, Mark Gardiner

Description: Both LDTI and IFRS 17 have introduced numerous new metrics with most companies having only crossed the finish line, just complying with what's needed for reporting due the complexity and large amounts of data required to simply comply. How do you leverage all the work you did to get proper business insights across the organization that tie back to these reporting metrics? This presentation covers a perspective of pain points faced in getting over the the hurdle in complying with LDTI and IFRS 17, upcoming hurdles, emerging KPIs, as well as how to best manage the data, technology, and processes to produce the analysis around these KPIs efficiently.

Description: Dana M. Peterson, chief economist for the Conference Board, has established herself as a visionary, and the go to expert providing insightful analysis and predictions to corporations, associations, and government organizations looking for clarity and foresight into how economic drivers might impact their businesses in the short- and long-term. With over two decades of experience in the field, she serves as the globally recognized think tank’s public face and primary spokesperson on all things related to the economy.

Description: In this talk, we look at two behavioral aspects: from end customers perspective and through the lens of underwriters. We will examine simple rules to improve the insurance underwriting decision to judge whether a risk is insurable and whether they have impact on increasing underwriting decision quality.

Description: This video by Ryan Kiefer ASA, MAAA provides an overview of the basics of LDTI, the most significant change to GAAP insurance accounting in decades. It covers the key changes to liability for future policyholder benefits, market risk benefits, deferred acquisition costs, and financial statement disclosures. It also highlights some of the challenges and opportunities that LDTI brings to the industry. Contributors: Ryan Kiefer ASA, MAAA ; Anthony Champi , FSA, MAAA; Ryan Bruner FSA, MAAA; Jon Forster, ASA, MAAA

Description: The insurance industry recently adopted two significant accounting changes. Good risk management requires a solid understanding of new risks as well as a proper set of controls. Learn how internal audit can help actuaries better understand arising risks and build a more robust control framework.