Lessons Learned By VM-21 Early Adopters

View Session

Overview

---

Hear from companies & consultants that early adopted VM-21 for year-end 2019. Learn from their experiences in preparing for the significant additional work required for implementation - updating models, assumptions, documentation, etc. Hear about the NAIC review and feedback (if available).

Agenda and Speakers

---

Moderator: John B. Brady, FSA, MAAA

Presenters: Zohair A. Motiwala, FSA, MAAA; Guillaume Briere-Giroux, FSA, MAAA; John B. Brady, FSA, MAAA

US GAAP LDTI the Road so Far: What We have Learned

View Session

Overview

---

This session will bring together practitioners from insurance companies and consulting firms to explore lessons learned so far related to data, models and systems, and other current issues. This session will also provide a forum for discussion for companies to share challenges and discuss solutions for implementing LDTI.

Agenda and Speakers

---

Moderator: Samuel J. Keller, FSA, MAAA

Presenters: Samuel J. Keller, FSA, MAAA; Maria Itteilag; Michael Lundquist, FSA, MAAA

How Capital is Used in Business Decision Making

View Session

Overview

---

Effective strategic decision-making helps insurance firms succeed by, among other things, enhancing profits and return on investment. Capital optimization is a crucial component for business leaders to consider when it comes to financial planning, new business strategy, and evaluating corporate structures. Actuaries have a vital role in evaluating and communicating key risks and impacts on the capital position for such strategic decisions. In this session we will be exploring in detail the range of practices when it comes to: Assessing the immediate impact to capital from corporate strategy and new product design Creating a forward-looking assessment of capital across the business planning horizon, including considerations with regards to the change in risk profile due to strategic action Keeping pace with internal demand to ensure that capital is part of the decision making process Providing analysis of sufficient quality to allow management understanding of key drivers of change and how their decisions influence results

Agenda and Speakers

---

Moderator: David Alison, FSA

Presenters: David Alison, FSA; Zeeshan Rehmani, FSA, MAAA

Variable Annuity Reserve and Capital Reforms: Key Implementation and Reporting Issues

View Session

Overview

---

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.

Agenda and Speakers

---

Moderator: Parul Bhatia, FIA, FIAI, MAAA

Presenters: Parul Bhatia, FIA, FIAI, MAAA; Zohair Motiwala, FSA, MAAA; Yuan Tao, FSA, MAAA

Actuaries Out of the Box: Our Roles in Implementing New Reporting Regime – Lessons Learned from the Ground

View Session

Overview

---

Under the new reporting regimes actuaries have the opportunity to become leaders for all aspects of cash flows and related insights, rather than just the reserve change line on the income statement, to help educate the organization and rive informed business decisions. This session will provide practical examples and scenarios where actuaries take on leadership roles to drive reporting compliance and organizational changes; as well as a provide an opportunity to discuss what didn’t work as well when it came to deploying new technologies to the valuation and pricing teams.

Agenda and Speakers

---

Moderator: Alexandre Lemieux, FSA, MAAA

Presenters: Alexandre Lemieux, FSA, MAAA; Christopher Murphy, FIAA

Marvelous Model Risk Management

View Session

Overview

---

Model Risk Management continues to be an evolving area for insurers to be considering. This has grown from both internal and external forces and may require a different format to previous model risk frameworks held by insurers. Furthermore, there are a number of trends emerging that we believe will drive an increased focus on insurer’s model risk management frameworks such as technology automation, ever increasing data sources, and the use of predictive models. Risk management and the development of models is an area where insurance companies have performed well in the past. It is expected that frameworks currently exist within companies; the governance, documentation, validation and control of model risk are likely to be well established practices. The challenge that insurers must consider is how well these have been adopted throughout the company for all models used to make business decisions and if the same level of rigor has consistently been applied. Regulation in a high-velocity actuarial environment will to be a challenge that actuaries must spearhead and must be proactive in guiding rulemaking to ensure continued innovation while putting data security and risk management first.

Agenda and Speakers

---

Moderator: Emily Cassidy, FSA, MAAA

Presenters: Emily Cassidy, FSA, MAAA; Darren Zhang, FSA, MAAA; Sebastian Polczynski, ASA, MAAA; William Abram, ASA, MAAA; Mandy Lee, FSA, MAAA