Agenda Day Three
Event Home | Additional Information | Agenda | Attendees | Call For Presenters | Committee | Competency Framework | CPD | Hotel | Moderator/Presenter Information | Registration | Sponsors | Sponsor This Event | Travel | Virtual Session Information
Day One and Presentations | Day Two and Presentations | Day Three and Presentations
The MP4 audio recordings synchronized with the presenter slides are available to purchase through the SOA store. The MP4 downloads provide excellent training, are eligible for fulfillment of your CPD requirement and allow you to view sessions you may have missed. View the sessions online anytime or download the MP4 files to your mobile device for portable listening.
| SOA Member | Nonmember | |
| Complete Meeting Compilation | $ 0 | $ 299 |
Purchase the Complete Meeting Compilation
Once your order has been processed, a confirmation email will be sent with the instructions for accessing the recordings.
| Tuesday, May 9 |
|---|
|
6:00 a.m. – 3:30 p.m.
|
|
6:00 a.m. – 7:00 a.m.
Presentation(s): View Presentation Session Sponsor(s): Education and Research Section Moderator(s): John K. McGarry, ASA, Ph.D. Presenter(s): Brian Matthew Hartman, ASA, Ph.D. At this networking breakfast we will provide an update on E&R Section activities and a preview of the 2017 Actuarial Research Conference at Georgia State University. This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance. Session Coordinator(s) Thomas P. Edwalds, FSA, ACAS, MAAA Facilitator(s) Presentation(s): View Presentation Session Sponsor(s): Financial Reporting Section; Smaller Insurance Company Section Moderator(s): David M. Ruiz, FSA, FIA, MAAA Presenter(s): Steven C. Chamberlin, FSA, MAAA; David M. Ruiz, FSA, FIA, MAAA During this breakfast, an update on Financial Reporting and Smaller Insurance Company Section activities as well as offer an opportunity to network. This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance. Session Coordinator(s) Leonard Mangini, FSA, FALU, FRM, MAAA Facilitator(s) Session Sponsor(s): Modeling Section Moderator(s): Bruce B. Rosner, FSA, MAAA Presenter(s): Trevor C. Howes, FSA, FCIA, MAAA; Bruce B. Rosner, FSA, MAAA This breakfast session will provide an update on recent happenings in the Modeling Section and include a discussion of modeling hot topics. This breakfast is open to all meeting attendees free of charge. If you plan to attend, you must register in advance. Session Coordinator(s) Brenna R. Gardino, FSA, MAAA Facilitator(s) |
|
6:15 a.m. – 7:15 a.m.
|
|
7:15 a.m. – 8:30 a.m.
Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: Results-Oriented Solutions Moderator(s): Kelly J. Rabin, FSA, MAAA Presenter(s): Paul Fedchak, FSA, MAAA; Illya Golanek, FSA, CERA, MAAA; Jacqueline M. Keating, FSA, MAAA Experience Level: Intermediate Companies can implement VM-20 as early as 2017. While there have been research and educational materials produced to help actuaries and others better understand the implications and implementation of the new requirements from a financial reporting perspective, little has been developed emphasizing the product development actuary perspective. This SOA research project examines the impact of VM-20 from a product development actuarial perspective. The research will help actuaries and others enhance current practices to optimize pricing and product development activities within a VM-20 framework as well as enhance intracompany communication and efficiencies related to VM-20. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Note: This session will be repeated on, Tuesday, May 9, from 1:15 to 2:30 p.m. See Session 72 PD. Session Coordinator(s) Kelly J. Rabin, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section; Investment Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Yuan Tao, FSA, CFA, MAAA Presenter(s): Melanie Dunn, ASA, MAAA; Ricky Power, FSA, CERA, FIA; Marcus Szeto, ASA, MAAA Experience Level: Beginner This session is intended to provide a practical understanding of when risk neutral or real world scenarios should be used in the process of modeling life and annuity products. The panel will cover the theory behind the risk neutral and real world frameworks, and provide an overview of how a scenario set is developed to be real world or risk neutral. Then, the panel will provide practical guidance for when each framework should be used, with examples from the pricing of variable annuities and other products with embedded guarantees. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Yuan Tao, FSA, CFA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section; Entrepreneurial & Innovation Section; Marketing & Distribution Section Competency: Strategic Insight and Integration Moderator(s): Lin Ling Sun, FSA, CERA, MAAA Presenter(s): Lauren Minches, FSA; Chirag Pancholi; Hal Schwartz Experience Level: All With funding of insurance tech startups topping $1 billion in the first half of 2016, our industry is seeing new entrants and their ideas take shape. This session will explore a selection of insurance startups that are tackling the challenges of new channels, leveraging big data and new types and structures of insurance. The panelists will share their experiences working in and with insurance technology startups. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Note: This session will be repeated on, Tuesday, May 9, from 10:00 to 11:15 a.m. See Session 59 PD. Session Coordinator(s) Lin Ling Sun, FSA, CERA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Entrepreneurial & Innovation Section; Actuary of the Future Section; International Section; Leadership & Development Section Competency: Leadership Moderator(s): Kelly M. Hennigan, FSA, CFA Presenter(s): Wilbur Wai Keung Lo, FSA; Timothy S. Paris, FSA, MAAA; Tracey J. Polsgrove, FSA, MAAA Experience Level: All This session will generate valuable insights for leaders and aspiring leaders. To be successful in corporate management, decision-makers must balance the needs of various internal and external stakeholders. Responsibilities include setting company goals, formulating appropriate strategies, and understanding the organization's presence internationally. In order to move into corporate management roles, actuaries must bridge the gap between day-to-day firm activities and take an overarching view of the corporation. Our panel will present the challenges and opportunities associated with managing a company in today's global marketplace. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) William Rearden, ASA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Financial Reporting Section Competency: Professional Values Moderator(s): Leonard Mangini, FSA, FALU, FRM, MAAA Presenter(s): Kerry A. Krantz, FSA, MAAA; Leonard Mangini, FSA, FALU, FRM, MAAA; Kevin Piotrowski, FSA, CERA, MAAA Experience Level: Beginner-Intermediate The presenters at this session discuss the role of one or more Qualified Actuaries as they interface with other company actuaries including the Appointed Actuary when completing the PBR Actuarial Report required by VM-31. We review the requirements of VM-G on governance and various ASOPs that might apply when completing this important PBR requirement. At the conclusion of this session attendees will understand how professional standards apply to the PBR Actuarial Report including:
Country Relevance: U.S. Session Coordinator(s) Leonard Mangini, FSA, FALU, FRM, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Taxation Section Competency: External Forces & Industry Knowledge Moderator(s): Jeffrey Thomas Stabach, FSA, MAAA Presenter(s): Stephen Baker; Jeffrey Thomas Stabach, FSA, MAAA Experience Level: Beginner The Internal Revenue Code (IRC) sets forth a set of complex rules affecting life insurance companies and the products they sell. This session will explore the company and product tax related requirements imposed by the IRC that are of interest to actuaries, with the session in two parts: Part 1 - Company Tax Overview Federal income taxes are often one of the largest expense paid by a U.S. life insurers, but they tend to be overlooked or simplified in actuarial work. The presenters will provide an overview of key actuarial items impacting the determination of taxable income for life insurers, including the requirement for calculating tax reserves, the impact of changes in reserve basis, and the basics of capitalization of policyholder acquisition expenses (aka "Tax DAC"). Part 2 - Product Tax Overview Life insurance and annuity contracts provide for favorable tax benefits. However, in order for policyholders to receive tax benefits, life products need to satisfy certain qualification requirements imposed by the Internal Revenue Code. The presenters will provide an overview of (1) the policyholder tax treatment of life insurance and annuity contracts and (2) the qualification requirements imposed by the IRC in order for policyholders to receive these benefits. This session is intended for actuaries with low to moderate knowledge of company and product tax related requirements and will help you learn key aspects of life insurance company and product taxation that can affect product design, pricing, valuation and modeling. Country Relevance: U.S. Session Coordinator(s) Philip Ferrari, ASA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Modeling Section Competency: Communication Moderator(s): Kimberly M. Steiner, FSA, MAAA Presenter(s): Andrew Chong Jenkins, FSA, CERA, MAAA; Ben J. Quiner, FSA, CERA, MAAA; Kimberly M. Steiner, FSA, MAAA Experience Level: Beginner-Intermediate This presenters will describe how experience studies can be efficiently utilized for assumption setting in product development and considerations throughout the product development process. The presenters will discuss best practices for how a product development actuary can use, document and communicate assumptions that are used in their models. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Brenna R. Gardino, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Technology Section; Predictive Analytics & Futurism Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Catherine J. Bierschbach, FSA, MAAA Presenter(s): Catherine J. Bierschbach, FSA, MAAA; Karen M. Phelan; Patrick Sugent Experience Level: All Big Data has become a critical priority in every carrier's strategy. New data sources that can be accessed in an instant are transforming the industry and creating opportunities in practically every area of a life insurance company. In this session, we'll discuss the Big Data landscape, the technology that has enabled this revolution, the various sources of data and how to leverage data and analytics to improve product pricing, new business acquisition, and customer service. We'll share insights, research and examples to bring Big Data to life. At this session, attendees will learn about the opportunities with Big Data and analytics and how it can helping companies compete today and in the future. Country Relevance: Non-Nation Specific Session Coordinator(s) Wendy Chiwen Liang, FSA, CERA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Society of Actuaries Competency: Strategic Insight and Integration Moderator(s): Cynthia MacDonald, FSA, CFA, MAAA Presenter(s): Roland Fawthrop, FSA, MAAA; Brian D. Holland, FSA, MAAA Experience Level: All The SOA's Individual Life Experience Committee will present the results of their most recent mortality study of fully underwritten individual life insurance. The data behind this study was collected by the statistical agent for the States of New York and Kansas, and covers observation years 2009 through 2013. The study shows how the mortality experience varies by numerous factors and compares the experience to recent standard mortality tables. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Cynthia MacDonald, FSA, CFA, MAAA Facilitator(s) |
|
9:00 a.m. – 10:15 a.m.
Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: External Forces & Industry Knowledge Moderator(s): Daniel J. Rueschhoff, FSA, MAAA Presenter(s): Emily Jeanne Lorentzen, FSA, MAAA; Jean-Francois D. Mannina; Daniel J. Rueschhoff, FSA, MAAA Experience Level: All The fiduciary rule released by the U.S. Department of Labor has the potential to dramatically change the annuity market, in terms of distribution process, product design and customer appeal. Presenters will discuss key aspects of the rule, elements that are being debated and potential impact to product development. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Kelly J. Rabin, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section; Entrepreneurial & Innovation Section; Marketing & Distribution Section Competency: Strategic Insight and Integration Moderator(s): Lin Ling Sun, FSA, CERA, MAAA Presenter(s): Adam Erlebacher; Bryan Padgette; Matthew S. Wolf, FSA Experience Level: All With funding of insurance tech startups topping $1 billion in the first half of 2016, our industry is seeing new entrants and their ideas take shape. The presenters in this session will explore a selection of insurance startups that are tackling the challenges of new channels, leveraging big data and new types and structures of insurance. The panelists will share their experiences working in and with insurance technology startups. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Note: This session is a repeat of Session 49 PD. Session Coordinator(s) Lin Ling Sun, FSA, CERA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: Results-Oriented Solutions Moderator(s): Lisa M. Marquardt, FSA, MAAA Presenter(s): Lisa M. Marquardt, FSA, MAAA; Jennifer L. McGinnis, FSA, CERA, MAAA; Kelly J. Rabin, FSA, MAAA Experience Level: Intermediate-Advanced What does In-force Management (IFM) mean to you? Does your company have an IFM department? How can different product types be impacted by IFM? How can actuaries contribute to IFM? This session will be an interactive forum that polls audience members on various topics of IFM, and provides a chance to share best practices and discuss industry challenges in a non-recorded session. At the conclusion of the session, attendees will:
Country Relevance: Non-Nation Specific Session Coordinator(s) Lisa M. Marquardt, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Financial Reporting Section Competency: Results-Oriented Solutions Moderator(s): Carrie Lee Kelley, FSA, MAAA Presenter(s): Carrie Lee Kelley, FSA, MAAA; Martin Snow, FSA, MAAA Experience Level: All The presenters in this session will discuss key questions that a pricing actuary should ask when pricing products under PBR. We will review the three types of valuation assumptions under PBR: prescribed, stochastic and prudent estimate; when and how they are used, and their impact on products and models. This will include a discussion of potential modeling assumptions or simplifications and the projection of the assumption sets for future valuation dates. The panel will discuss how pricing actuaries and valuation actuaries can work together to set common assumptions, build models and work with colleagues in Risk Management to govern assumptions and models. At the conclusion of this session the attendee will understand which valuation assumptions are prescribed in a PBR world, which ones must be handled with stochastic models and which ones are prudent estimate assumptions with margins, enabling the attendee to begin thinking about the impact of these assumptions on initial and projected reserves and how to appropriately model them for pricing. The attendee will know the critical questions that a pricing actuary must address in order to price a product under PBR and understand the unique challenges that come with building a suitable pricing model. With this understanding, the attendee will be prepared to price products under PBR. Country Relevance: U.S. Session Coordinator(s) Leonard Mangini, FSA, FALU, FRM, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Education & Research Section; Financial Reporting Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): John K. McGarry, ASA, Ph.D. Presenter(s): Mark William Birdsall, FSA, FCA, MAAA; MBA; Brian Matthew Hartman, ASA, Ph.D. Experience Level: Intermediate-Advanced We are exploring several possible simplifications, approximations, and modeling efficiency techniques allowed under VM-20 for determining statutory reserves for life insurance products. As noted in VM-20 Section 2G, an important component of this project is the development of corresponding regulatory demonstrations that these techniques do not understate the reserve by a material amount and that the expected value of the reserves calculated using these techniques is not less than the expected value of the reserve calculated without using these simplifications, approximations and modeling efficiency techniques. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Brian Matthew Hartman, ASA, Ph.D. Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Modeling Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Ramandeep Nagi, FSA, FCIA Presenter(s): Ramandeep Nagi, FSA, FCIA; Hanh Thi Nguyen, FSA, MAAA; Alexander Zaidlin, FSA, ACIA, MAAA Experience Level: Beginner The presenters in this session will focus on actuarial software implementations and the lessons learned through the process. The discussion will focus on migration from an old modeling software platform to a new platform and how to make this a smooth transition. There will also be discussion of post-conversion considerations and the experience of day two issues with their models. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Brenna R. Gardino, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Smaller Insurance Company Section Competency: Results-Oriented Solutions Moderator(s): Peter A. Hitchcock, ASA, MAAA Presenter(s): Matthew R. Coleman, FSA; Michael L. Kaster, FSA, MAAA Experience Level: Intermediate-Advanced Smaller companies perceive the value of certain new products or markets but may struggle with development or access. Sometimes a consultant or reinsurer can fill the gap, but longer-term partnerships may be the optimal solution. The presenters will delve into options when internal resources are inadequate to build or maintain market access. Varieties of structures and their effects on the overall success of the endeavor will be discussed. In addition, the risks to consider and the rewards to expect will also be covered. At the conclusion of the session, attendees will be able to better evaluate partnerships options for product development. They will be able to better compare this option to other options and be more equipped to determine if a partnership option may make sense. Country Relevance: Non-Nation Specific Session Coordinator(s) Peter A. Hitchcock, ASA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Taxation Section Competency: External Forces & Industry Knowledge Moderator(s): Jeffrey Thomas Stabach, FSA, MAAA Presenter(s): Kristin R. Norberg, ASA, MAAA; Alison Peak, JD Experience Level: Beginner-Intermediate The panel will discuss recent developments related to the taxation of life insurance and annuity contracts. The focus will be on recent IRS guidance, tax reform developments, and emerging products. For life insurance contracts, topics may include product-related aspects of principle-based reserves (PBR), including recent guidance on the 2017 CSO mortality tables under sections 7702 and 7702A. For annuity contracts, topics may include formal guidance recently published by the IRS on the tax treatment of amounts received as an annuity and the section 817(h) diversification rules, as well as recent informal guidance from the IRS relating to partial exchanges involving a deferred income annuity rider, 1035 exchanges, and the required minimum distribution (RMD) rules that apply to qualified annuities. At the conclusion of the session, attendees will be aware of the recent developments regarding the taxation of insurance products and the industry impacts of those developments. Country Relevance: U.S. Session Coordinator(s) Philip Ferrari, ASA, MAAA Facilitator(s) |
|
10:30 a.m. – 12:00 p.m.
Presentation(s): View Presentation Presenter(s): Thomas R. Dlouhy, FSA, MAAA You never know when you take a new assignment what may be in store. Hear first-hand how perseverance and following the ASOPs navigated one actuary through testimony, the ABCD and one of the most challenging and memorable experiences of his career. The luncheon is included in your registration fee. You may register your guest(s) for the luncheon by including $75 per person with your registration fee. Admission tickets are available for purchase at the meeting as space permits. Refunds will not be given. Session Coordinator(s) Facilitator(s) |
|
12:15 p.m. – 1:30 p.m.
Credits: 1.50 CPD Session Sponsor(s): Marketing & Distribution Section Competency: Strategic Insight and Integration Moderator(s): Eric T. Sondergeld, ASA Presenter(s): Eric T. Sondergeld, ASA Experience Level: Intermediate It is said that imitation is the sincerest form of flattery. North American life insurers practice this art every day as they seek to remain competitive. As a result, the focus is often limited to the domestic market. The presenters will help us turn the lens to other parts of the world as we explore some of the many innovative product designs and distribution methods that exist outside of North America. At the conclusion of the session, attendees will leave with a variety of product and distribution ideas and concepts that may be applicable to their companies, regardless of their geographic location. Country Relevance: International Session Coordinator(s) Andrew G. Steenman, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: External Forces & Industry Knowledge Moderator(s): Donna Christine Megregian, FSA, MAAA Presenter(s): Donna Christine Megregian, FSA, MAAA; Larry N. Stern, FSA, MAAA Experience Level: All The Society of Actuaries recently published research related to understanding the product development process. The comprehensive research investigates various activities through the US/Canada product development process, along with some international perspectives. This workshop will enable participants to hear about and discuss parts of the product development process that interest them and see results from the research. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Donna Christine Megregian, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section Competency: Results-Oriented Solutions Moderator(s): Kelly J. Rabin, FSA, MAAA Presenter(s): Paul Fedchak, FSA, MAAA; Illya Golanek, FSA, CERA, MAAA; Jacqueline M. Keating, FSA, MAAA Experience Level: Intermediate Companies can implement VM-20 as early as 2017. While there have been research and educational materials produced to help actuaries and others better understand the implications and implementation of the new requirements from a financial reporting perspective, little has been developed emphasizing the product development actuary perspective. This SOA research project examines the impact of VM-20 from a product development actuarial perspective. The research will help actuaries and others enhance current practices to optimize pricing and product development activities within a VM-20 framework as well as enhance intracompany communication and efficiencies related to VM-20. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Note: This session is a repeat of Session 47 PD. Session Coordinator(s) Kelly J. Rabin, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Financial Reporting Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): TBD Presenter(s): Michael L. Yanacheak, ASA, MAAA; others TBD Experience Level: Beginner The Life Actuarial Task Force (LATF) of the NAIC is charged with developing PBR for non-variable annuities. The American Academy of Actuaries' Annuity Reserve Work Group (ARWG) is working to develop a principle-based methodology for LATF to consider. Presenters at this session will cover current hot topics, including the recent NAIC exposure draft on Maximum Valuation Rates for Income Annuities. At the conclusion of this session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) David M. Ruiz, FSA, FIA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Investment Section; Joint Risk Management Section Competency: Results-Oriented Solutions Moderator(s): Ken Griffin, ASA, CFA, MAAA Presenter(s): Ken Griffin, ASA, CFA, MAAA; Bogdan N. Ianev, FSA, MAAA; Henry Yim, FSA, CFA Experience Level: Beginner-Intermediate First, the presenters will discuss long term asset mix for an insurance company. Many people attempt to find a perfect solution. Unlike tactical calls on the trading floor, a good strategic asset allocation analysis oftentimes requires the understanding the company's liability and a good long term view of the economy. Many challenging issues arise during this analysis: Best method or metric to determine the optimal asset allocation strategy, alignment with risk tolerance, variation for inforce versus new business, asset classes and derivative instruments available and fit into the modeling exercise. We will attempt to answer these questions by comparing a few popular measures in an Efficient Frontier Analysis. Second, the presenters will cover derivative from a practitioner's point of view. Derivatives are perceived as complex, risky investment vehicles from the public. However, derivatives are commonly used in various areas. Hedging is always a common topic in management discussion. Actuaries should keep current on this important topic. We will provide an overview on the current usage of derivatives in insurance companies. They will also touch on how derivatives are used in product development, the ongoing changes in the derivatives regulation and challenges faced by insurance companies from the practitioner's perspective. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Suhrid Swaminarayan, FSA, FIA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Leadership and Development Section Competency: Relationship Management Moderator(s): Ying Zhao, FSA, MAAA Presenter(s): John West Hadley Experience Level: All Have you ever faced a career dilemma, and wondered how to make the best decision, when every option seemed to have downsides? Based on the popular "What Would You Do?" series in the SOA Leadership and Development section's magazine The Stepping Stone , this interactive workshop will explore how to approach these situations. We will examine specific case studies, pros and cons, and bring to light hidden rationales that might escape the casual observer. Past case studies have considered: whether to demote or fire a difficult employee, performance reviews and their aftermath, interview challenges from both sides of the desk, evaluating job offers, a difficult product decision, how to build connections with the home office, and career decisions. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Ying Zhao, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Predictive Analytics and Futurism Section; Education & Research Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Ricardo Trachtman, FSA, MAAA Presenter(s): Eileen Sheila Burns, FSA, MAAA; Jean-Marc Fix, FSA, MAAA Experience Level: Beginner Experts at this hands-on session will walk participants through the analytical process of developing a basic generalized linear model. Lessons learned will be practical but also provide insights about the process of approaching or evaluating a modeling project. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Ricardo Trachtman, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Society of Actuaries Competency: External Forces & Industry Knowledge Moderator(s): Cynthia MacDonald, FSA, CFA, MAAA Presenter(s): Joel C. Sklar, ASA, MAAA; Sean Cody Souders, FSA, MAAA Experience Level: All The presenters at this session will cover the latest mortality studies of individual payout annuities and structured settlements. Both studies contain similar analyses as prior studies but now cover experience from 2009 to 2013. The individual payout study was expanded to include experience of joint annuitants and the experience on variable payout products. The structured settlement results are of particular interest because of the variation present in the prior study. These studies will compare current results to those of the prior studies. At the conclusion of the session, attendees will be able to:
Country Relevance: U.S. Session Coordinator(s) Korrel Rosenberg Facilitator(s) |
|
2:00 p.m. – 3:15 p.m.
Session Coordinator(s) Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Product Development Section; Reinsurance Section Competency: Strategic Insight and Integration Moderator(s): Michelle Lynn Lerch, FSA, MAAA Presenter(s): Jordan J. Carreira, FALU; William Moore; Craig Williamson, CFE, ALHC Experience Level: Beginner-Intermediate As the market evolves, the risk selection process must also evolve. Recent topics that have been receiving attention are developing products for the HIV market, managing risk of foreign connected policies, and fraud prevention and detection. At the conclusion of the session, attendees will develop a better understanding of the challenges and considerations around the risk selection process ultimately impacting assumptions and emerging experience. Country Relevance: Non-Nation Specific Session Coordinator(s) Michelle Lynn Lerch, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Reinsurance Section; Product Development Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Timothy S. Paris, FSA, MAAA Presenter(s): Kendrick D. Lombardo, FSA, MAAA; Timothy S. Paris, FSA, MAAA Experience Level: Beginner-Intermediate Data-driven understanding of policyholder behavior is critical for product pricing, principles-based approaches for reserves and capital, and prudent risk management. Frequent and detailed experience studies of own company and industry data, based on subject matter expertise and sophisticated statistical methods, are vital for the development of this understanding, and continued monitoring and refinements as market forces and environmental circumstances change. At the conclusion of this session, attendees will be able to:
Country Relevance: U.S. and Canada Session Coordinator(s) Timothy S. Paris, FSA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Financial Reporting Section; Product Development Section Competency: External Forces & Industry Knowledge Moderator(s): Michael L. Yanacheak, ASA, MAAA Presenter(s): Brian George Michael Bayerle, FSA, MAAA; Donna R. Claire, FSA, CERA, MAAA; Michael L. Yanacheak, ASA, MAAA Experience Level: Intermediate The presenters at this session will provide an overview of recent developments in statutory valuation, U.S. GAAP valuation, and regulatory capital issues pertaining to life and annuity products. At the conclusion of the session, attendees will be able to describe how recent developments in statutory valuation, and U.S. GAAP valuation and - U.S. capital requirements impact pricing and product development in the U.S. Country Relevance: U.S. Session Coordinator(s) Leonard Mangini, FSA, FALU, FRM, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Entrepreneurial & Innovation Section Competency: Strategic Insight and Integration Moderator(s): Chin-Mei Yvonne Chueh, ASA, PH.D. Presenter(s): Ata Azarshahi, ASA,MAAA; Melissa Carruthers, FSA, FCIA Experience Level: All Actuaries are constantly developing new products in response to shifting consumer demands. The presenters at this session will focus on hot new innovations that are disrupting the life and annuity product space. Attendees will learn how decision-makers are leveraging actuarial capabilities and predictive analytics to innovate cutting edge new products that creates value for customers that was not previously possible. At the conclusion of the session, attendees will be able to:
Country Relevance: Non-Nation Specific Session Coordinator(s) Lori Weyuker, ASA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Joint Risk Management Section Competency: Technical Skills & Analytical Problem Solving Moderator(s): Dariush A. Akhtari, FSA, FCIA, MAAA Presenter(s): Dariush A. Akhtari, FSA, FCIA, MAAA Experience Level: Intermediate The concept of market consistent valuation of liabilities has been of interest for over 10 years where numerous methodologies were proposed in Europe. Initially the concept of illiquidity premium was introduced which varied by products based on the certainty of the product's cash flows. Market consistent embedded value (MCEV) proposed by CRO Forum allows an illiquidity premium independent of the assets backing the liabilities resulting in an MCEV value that materially varies as market moves. As a result it has not been widely accepted in the U.S. In the session, a methodology for the calculation of this illiquidity premium will be discussed to produce a more stable MCEV value of a firm. The method will further be used to produce a more appropriate ALM for the firm. The presenters in this session will explore an alternative approach, based on sound actuarial techniques, and will address concerns raised with current approaches. The approach will explore how the method could address many of the concerns with ALM, capital management, as well as a more appropriate approach to MCEV calculation. At the conclusion of this session, attendees will understand how the method could address many of the concerns with ALM and capital management, as well as a more appropriate approach to MCEV calculation. Country Relevance: International Session Coordinator(s) Dariush A. Akhtari, FSA, FCIA, MAAA Facilitator(s) Presentation(s): View Presentation Credits: 1.50 CPD Session Sponsor(s): Society of Actuaries Competency: Professional Values Moderator(s): Mike A. Boot, FSA, MAAA; James A. Miles, FSA, MAAA Experience Level: All In a perfect world, all ethical and professional issues would be black-and-white and decisions easy to make. In the world in which we live in, many ethical and professional issues are gray and decisions are difficult to make. This session will be an open-forum discussion of professionalism and the actuary. Questions, examples and brief case studies will be used to help focus the discussions. At the conclusion of the session, the attendees will be able to more effectively apply the Code of Professional Conduct when providing actuarial services. Country Relevance: Non-Nation Specific Session Coordinator(s) James A. Miles, FSA, MAAA Facilitator(s) |
|
3:15 p.m. – 3:30 p.m.
|
|
3:30 p.m. – 4:30 p.m.
Want to learn more about a particular topic presented at the symposium? Join fellow attendees at this closing session. There will be tables set up by topic and an expert at each table leading the discussions.
Session Coordinator(s) Facilitator(s) |