Description: Regulatory change and increased focus on internal risk management are driving a renewed interest in model efficiency. In this session, we will review several new and existing tools, that show significant promise for advanced modeling of equity linked products. These include: • Clustering • Use of unique--and potentially a different number of--scenarios for each policy • Semi Monte Carlo (SMC) – this is a proprietary technique that is similar to a combination of Monte Carlo and numeric integration • Using a neural network approach to optimize some of the more complex and manual aspects of clustering and improve the fit of the clustered model • Combining SMC with the use of unique scenarios per policy

Description: An exploration of drivers, cohorts and dynamics for policyholder behavior for VA and FIA based on industry experience data, including changes in recent years and the emergence of long-term data in key areas. We will also discuss critical elements to developing a sustainable and coherent framework to translate this complex experience data into assumption models.

Description: Through much of the Baby Boomer generation's working lifetime, retirement planning focused on asset accumulation. Strategies like Dollar-Cost Averaging and Asset Diversification became well understood by nearly everyone in the retirement industry. As those assets move into the payout phase (post retirement), the appropriateness of those strategies becomes less clear. Presenters will aim to exhibit and explain how and why adding a Single Premium Immediate Annuity (SPIA) or Deferred Income Annuity (DIA) to a retirement portfolio can help to minimize a retiree's chance of outliving his or her income, and why sellers of annuities should focus more heavily on these product offerings. At the conclusion of the session, attendees will be able to - Identify the reasons why effective asset accumulation strategies may be ineffective in the decumulation phase of retirement - Evaluate the benefit of using at least a portion of accumulated retirement assets to purchase a fixed income stream that the annuitant is guaranteed not to outlive - Explain the benefits of a SPIA/DIA focus to other industry practitioners

Description: The academy generator is now a staple for actuarial practice. Initially confined to regulatory reserving, increasingly companies are using the AAA/SoA generator for a wider and wider range of applications which in some cases may be at the limits of what it was designed for. How is the AAA/SoA generator being applied in reserving, risk management and variable annuity lines of business? What are some of the challenges actuaries face in using this framework and what are the options for addressing them.

Description: The American Academy of Actuaries will present on current initiatives that impact the U.S. statutory reserving methodology for non-variable annuity contracts. In particular, the development of a principle-based reserving framework on non-variable annuity contracts will be discussed, including framework elements, assumptions, and methodology. The session will provide an update on the status of regulatory discussions and the timeline for future changes to reserves. By the end of the session, attendees will understand what changes are being made to non-variable annuity reserves, details underlying existing proposals, and the anticipated timing of such emerging changes. This session is intended to the meet the needs of actuaries focused on annuity reserve calculations, financial reporting, and valuation.

Description: The growing aging population presents unique challenges and opportunities, especially for the financial services industry. Presenters will explore the issues with particular focus on demographic challenges, such as age dependency ratios and implications for sovereign debt and public policy. They will also compare and contrast private sector offerings across the globe. In particular, as an example of a super-aging society, presenters will describe how Japanese insurers and pension funds tackle longevity risk.

Description: The SOA recently launched the Mortality and Longevity Strategic Research Program with the release of a new study on the economic impact of opioid abuse. In this session, results of this study will be presented along with insights and plans for the future of the Program.

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

Description: VA reserve and capital reforms are effective 1/1/20 and the first year of reporting under the new framework requires several key milestones for annuity valuation actuaries to achieve. Discuss key implementation issues, including the new standard projection, optionality around hedge treatment and taxation, discuss disclosure requirements as well as the PBR report requirements. Overall focus on decisions to be taken by a valuation actuary with respect to reporting under the new framework.