Description: With many complex regulatory changes on the horizon as well as pressures to ensure model accuracy from auditors, regulatory requirements and new actuarial standards of practice, the importance of robust model validation is coming to the forefront of actuaries’ minds. What was previously a day-two task for many companies is becoming just as important as model development! In this session, you will hear from those that have been deeply involved in building model validation frameworks and tools in responses to regulatory changes GAAP Long Duration Targeted Improvements (“LDTI”) and Principles Based Reserves (“PBR”).

Description: Historical and actuarial perspectives on the coronavirus events of 2020.

Description: Private LTC insurers are paving the way for value-based care through working to implement care management programs that improve the lives of their policyholders before and during a claim. However, measuring the effectiveness of these new programs is a challenging task. In this article, we will explore powerful tools that can enhance traditional effectiveness studies and address some of their existing weaknesses.

Description: Read the April 2020 issue of The Modeling Platform, published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Read the November 2019 issue of The Modeling Platform, published by the Modeling Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Commentary on practical observations resulting from constructing and running Economic Capital models. Possible standardization of assumptions and result interpretation are morphing even though use of E.C. models has now been around for years.

Description: The optional phase-in period for life principle-based reserves (PBR) has come to a close, and companies have put in the work to bring their PBR implementations across the finish line. With the mandatory PBR implementation deadline behind them, companies can turn their attention from compliance to model and process improvements. The presenters will outline lessons learned from PBR implementations and their applications to broader use cases, as well as resources that are available for PBR modelers. Discussion topics will include items such as: Model simplifications and validation Model run-time techniques Model scalability (e.g. adding new products / future assumption updates) Sensitivity testing Model projections Available PBR & other modeling resources (e.g. PBR practice note, ASOP 56)

Description: At this session, experts will provide an overview of current statutory valuation issues pertaining to life and annuity products. The focus is on activities of the American Academy of Actuaries relative to principle-based approaches, but other matters will be covered, including the status of the NAIC valuation manual, life risk-based capital, developments at the NAIC affecting life insurance companies, and practice issues for appointed actuaries.

Description: Commentary on practical observations resulting from constructing and running Economic Capital models. Possible standardization of assumptions and result interpretation are morphing even though use of E.C. models has now been around for years.