Description: By attending the session, you will learn: - Different perspectives around what FP&A is used for (e.g., strategic planning, performance measurement, management compensation, liquidity management, etc.) and why - Challenges leaders have faced and how they are being addressing - How recent regulatory, accounting, and technological change has impacted the FP&A function - Objectives for various organizations around both new analytics for business management, efficient production of forecast results, and potential for faster 'top down' forecasting

Description: This report examines the use of a copula approach to build a predictive model to estimate the amount of economic capital a life insurance company needs to protect itself against an adverse movement in interest rates, mortality, and other risk drivers.

Description: Global trends in both technology and regulation are causing US insurers to reflect deeper on their model risk management frameworks. The world has seen a rapid proliferation of AI-based tools accompanied with an overall increased usage of machine learning models, exacerbating model risk and reducing transparency in an unprecedented manner. This rising tide of AI means that it is imperative for US-based insurers to address these emerging risks within their Model Risk Management (MRM) frameworks. Regulation also continues to evolve in this space: in Canada, the Office of the Superintendent of Financial Institutions (OSFI) revised Guideline E-23 to instill more detailed model risk management standards; in Bermuda, the Bermuda Monetary Authority (BMA) has published CP2 to add increased scrutiny on the data and models used by insurers. Insurers must react: MRM frameworks require prudent revisions to reflect these ever-changing landscapes of risk. Reassessing the core pillars of MRM frameworks - risk measurement, model development, validation, monitoring, and governance – is key to understanding the consequences of these evolving market changes on insurers’ risk profile. Overall, the inclusion of these new tools into the world of insurance necessitates a thorough examination of insurers’ MRM frameworks in order to align these new risks with core MRM principles. In this session we will: - Reflect on recent drivers of change and how they should be considered in the context of MRM - Explore best practices as it relates to MRM frameworks in the context of current global trends - Describe challenges, success stories, and lessons learned relating to recalibrating and embedding MRM frameworks

Description: Join us for an insightful session on best practices in setting assumptions and margins for Life and Annuity Products. This session will explore traditional best practices outlined by the ASOPs as well as their application in the context of emerging trends and risks in 2024, such as predictive analytics and AI. The session will also cover evolving trends in assumption governance, as corporate ERM areas become increasingly involved in the assumption setting process. Learning objectives include refreshing and enhancing knowledge of existing ASOPs, as well as understanding strategies for emerging risks that the ASOPs do not yet cover.

Description: The NAIC Generator of Economic Scenarios (GOES) Project is scheduled to go live in January 2026. Over the past five years the GOES economic scenario generator has evolved significantly. Important modifications such as the flooring of interest rates and the process for initializing the time 0 interest rate yield curve has been part of this evolution. The introduction of a suitable Stochastic Exclusion Ratio Test (SERT) and associated deterministic reserve (DR) has also evolved and remains a work in progress. At this point in the GOES project, several field tests and model office results are available that provide some insight into the differences between the current AIRG model and the GOES model that is about to be introduced.

Description: This session on Innovations in Underwriting will explore the latest advancements in underwriting technology and methodologies. It will focus on how these innovations are transforming the insurance industry, making underwriting processes more efficient, accurate, and customer-friendly. Topics will include the integration of artificial intelligence (AI), machine learning, and big data analytics into underwriting workflows. Additionally, we'll discuss emerging trends in risk assessment, automation of underwriting tasks, and the implications of these changes for underwriters and insurance professionals. Attendees will have the opportunity to learn from industry experts and participate in discussions on how these innovations are reshaping traditional underwriting practices. Learning Outcomes: - Gain an understanding of the latest technological advancements impacting underwriting, including AI, machine learning, and data analytics. - Learn how these innovations can streamline underwriting and pricing processes, improve accuracy, and reduce costs. - Explore new risk assessment methods and discover how automation is changing the underwriter's role. - Identify best practices for integrating innovative technologies into existing underwriting and actuarial pricing frameworks.

Description: Behavioral Science is a powerful tool to enhance customer experience and improve outcomes across the life insurance value chain. This session will cover the foundations of behavioral concepts in a life insurance context and discuss practical areas that can benefit from behavioral science including customer engagement, disclosure, and retention. The session will leverage recent SOA research and specific experience in communication campaigns and call center best practices to translate theory to quantified results. Attendees will leave with an appreciation for potential challenges and practical steps to measure and demonstrate the value of implementing behavioral science.

Description: Discover investing trends across the life and health industry as insurers seek to navigate rapidly changing rate and market environments. BlackRock will present results from its Peer Risk Study, which models industry holdings based on statutory filings at the CUSIP level. Through the Aladdin risk modeling software, expect a production of deep insights into insurer portfolio risk and return characteristics, as well as exploring how they have evolved. Keep an eye out for a partner to present on the evolution from their perspective. Start learning about what is happening on the asset side of the balance sheet across the industry.

Description: Come discuss modeling costs and its governance, as well as introduce some platforms for more granular asset modeling.