Price optimisation is emerging as a key theme in the world of life insurance pricing, particularly as insurers look for new ways to create customer and shareholder value through the lever of price. However, a measured approach must be taken to prevent the flood gates opening for claims that were never intended to be covered and have not been funded for through premiums. May, 3, 5 & 7, 2021. The event is proudly hosted by The Actuarial Society of Malaysia (ASM) which will bring together 12 actuarial associations across Asia and Australia with over 30,000 members. The presentation will cover all stages of an advanced analytics project in Life Insurance, i.e. Provide an update on the IASB’s Amended IFRS 17 (due June 2020) and the EU and UK endorsement processes. This field is for validation purposes and should be left unchanged. All actuarial advice given by our members is subject to the Actuaries… We will cover: You will be able to access sessions from wherever you are in the world and watch the plenary recordings if you miss anything. The theme for the YAC was ’Empowering through Uncertainty’, and featured thirteen speakers from various industries who presented across four plenaries: The Conference concluded with an hour of virtual networking, comprising of four 15-minute speed networking groups, enabling attendees to meet other young actuaries across Australia and around the world. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, … For further information please contact Hannah Watson. How firms have overcome some of these challenges. 2019 Life Conference presentation - IFRS 17 CSM. The final presentation was by Hugh Miller, Principal at Taylor Fry, on how actuaries are becoming involved with the social sector. Insights and Other events. Visit the Life Conference 2020 Delegate atrium to find working party presentations, a ‘Who’s who’ in Life research, speaker biographies, how you can contribute to future research ideas, and much more. Each speaker was asked a range of questions to explore their journeys and lessons. Speaker: Peter Heffernan and Rod Bryn-Hussey, PwC, Changes in insurers investment strategies. COVID-19 has had an unprecedented impact on our personal and professional lives. Examine where insurers are in their implementation journey and the key challenging remaining to 2023. The RPI consultation is seen as the main driver of the back-end, though with continued uncertainty and lack of supply, increased demand is seeing valuations drift higher. Insurer’s asset portfolios have evolved dramatically over the last few years due to low yields, regulatory changes and a number of conflicting metrics to measure against. Non-Member Early Bird (to and including Friday 20 November 2020) $55.00. 2020 Life Insurance Conference. If you want your work to make a difference plan to attend from August 10-12. His work experience includes general insurance pricing and liability valuation across compulsory third party, commercial and personal insurance lines. However, this topic is not frequently covered in detail within our profession and especially with young actuaries. Join us at the 2020 Health Virtual Meeting for a dynamic, two-day virtual event June 8- 9. Presenters in this plenary shared their insights into how COVID-19 is affecting general insurance, life insurance and retirement incomes, and the uncertainty that remains. The impact on general insurance lines varies but in each case the government, the judiciary, insurers and customers must strike a balance between meeting customer expectations while maintaining insurer stability. Kevin provided his insights into three areas: Interestingly, Kevin discussed analysis to mid-November that showed there is no significant increase in deaths than a normal year due to COVID-19 except for some spikes in late March to early April and the end of July. 24/25 Mar 2021. The best piece of advice from Sam was his response to how to start your own business. ARC Big Health - Hormone Replacement Therapy poster. An overview of the CMI's activity on COVID-19 including: This session will be very relevant to life actuaries who are involved in assumption-setting or experience monitoring for mortality, morbidity and longevity. ASIC’s regulatory guide on the Design and Distribution, presentation focused on data analytics, specifically natural language processing (NLP) and was presented by, , Lead Modelling and Analytics Specialist. Creative Commons Attribution-NonCommercial-No Derivatives CC BY-NC-ND Version 3.0 (CC Australia ported licence), Under the Spotlight – Jia Yi Tan (Councillor), Role of the Underwriter in the age of Data & Analytics, Risk Management Practice Committee Practice Update Podcast, The role of insurance in enhancing societal resilience to flood risk, An introduction to energy markets and some of the actuaries working within the sector, Personalised pricing of annuities in the UK. A key takeaway is how significant an achievement this was for the industry. , Principal at Taylor Fry, shared the COVID-19 impacts on general insurance, highlighting the most impacted business lines, domestic motor, travel insurance and business interruption. -Pre-work, training the machine, seeing the results, preparing the final output (for the investment manager) Recurring single premium AWP whole life contracts in an ISA wrapper.Now, the low interest rate environment looks like it is becoming permanent. Ageing populations and inequality affect interest rates, the climate transition impacts key sectors. Monday 16 November 2020 09:30 - Friday 27 November 2020 16:30. Learn, share and have fun with colleagues who want to make a positive impact in the world – just like you! The YAC has sold out three years in a row and the virtual format will mean no cap on attendance, so no one misses out. Over the past seven decades, as the nature of risk has evolved, so has the scope of our work. IFRS 17: So far, but we have another year to 2023! models can be created to classify documents. CPD: Actuaries Institute Members can claim two CPD points for every hour of reading articles on Actuaries Digital. Ryan Starkey is an analyst at Quantium, providing actuarial advice and data-driven solutions to various insurance clients. Register before Friday 20 November to take advantage of the Early Bird pricing. This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. A look back at the exponential 2020s: the decade in which finance became sustainable, allowing humanity to veer away from the cliff edge of biosphere breakdown. encouraged the audience to find both internal and external mentors for more diverse perspectives. Insights – Discussion on PS300 Drink Driving - is it really any of the Profession's business? The new format for this event offers you a convenient way to receive the top-notch professional development you expect from the SOA from wherever you are in the world. 179 young actuaries registered for the Conference this year, including 93 from New South Wales, 28 from Victoria, eight from Queensland, and for the first time, six joining from Asia and beyond. Customer expectations are, at the forefront of decision making following the. The upcoming ICS framework will affect many global insurers. This talk covers the key turning points of the decade – starting with how the COVID 19 lockdown showed world and business leaders that transformational “unimaginable” change in the face of a crisis was possible. Executive Director of Cyber Capability, Education and Training at. Provide an update on the IFoA and IAA responses to the IFRS 17. The intent is to ensure products are designed, targeted and sold to the right customers. If with-profits cannot survive, can mutual insurers? We commence with an overview of ICS, comparisons with Solvency II, and how it fits into the UK regulatory framework. But ESG raises long-term systematic risks for investors. The 2020 Young Actuaries Conference (YAC) has gone virtual! A three-day virtual conference from 19-21 May 2021. An overview of current asset portfolios and the metrics they’re measured against. 2020 CCA Virtual Annual Meeting October 19-21 & 26-28, 2020 . The first presentation focused on data analytics, specifically natural language processing (NLP) and was presented by Andrey Ponomarev, Lead Modelling and Analytics Specialist and Abhijeet Agarawal, Executive Manager. Application of machine learning techniques to financial reporting. However, it is a complex subject that’s further complicated by industry jargon and competing perceptions of what it is and is not. We will cover issues and implications for life companies implementing ICS. Funds were able to issue refunds within a very short timeframe while successfully managing liquidity and asset allocation. •Insight into the pilot including: Actuaries have a role to play across product design, pricing, risk management and experience monitoring. Speakers: Sandy Trust, EY, Patrick Cleary, PRA, Matt Saker, Aviva and Wendy Walford, Legal & General, An alternative take on how to be 'professional'. Contact Events Team for more information. Credit card surcharge of … Last year, short end inflation expectations continued to be driven by Brexit uncertainty with possible RPI reform weighing on the curve further out. WEB SESSION. Cyber risk continues to emerge as a key risk for organisations and individuals. Speaker: Matthew Edwards, Cobus Daneel and Steve Bale, Shining a light on the “black box” of price optimisation. With think this will improve portfolio resilience while accelerating the shift of capital to climate solutions from legacy assets. It is important investors take them into account in their long-term asset allocation decisions. Speaker: Craig Mackenzie, Aberdeen Standard Investments. The 2020 Convention Converts to Virtual Introducing our first-ever virtual Convention. Today, we are helping clients address some of the world’s most profound social and business challenges, including a looming retirement crisis, an evolving healthcare landscape, the effects of climate change and a global pandemic, and an insurance industry burdened by low interest rates and daunting reporting requirements. Accra, Ghana March 18 - 20, 2020. Member Full (from Saturday 21 November 2020) $70.00. The 2020 Young Actuaries Conference (YAC) went virtual for the first time this year, covering the impacts of COVID-19 on the insurance sector, industry developments, emerging opportunities and risks, and the career journeys of three actuaries. However, this topic is not frequently covered in detail within our profession and especially with young actuaries. If you are an Enrolled Actuary, then you will not need your glasses to see why this meeting is a virtual educational experience made for you. For further information visit us at www.ojassociates.com. The intent is to ensure products are. Ryan is passionate about creating networking and professional development opportunities for young actuaries. This is not something young actuaries receive when they are at the start of the career and James wished he had a mentor earlier. The introduction of IFRS17 brings new challenges for analysis of change, alongside an opportunity to rejuvenate tired practices and ensure finance is at the centre of strong business management. Seminars and Conferences. Scottish Friendly has a strong history of acquiring closed with-profits funds. May, 3, 5 & 7, 2021. This also helps clients meet new PRA climate regulations. •Roles of Deloitte and Eigen Attend and Earn Up To 18.5 EA Credits! Whilst Brexit-related volatility subsided at the start of 2020, it will soon come back into focus. ASIC’s regulatory guide on the Design and Distribution Obligations is available on the ASIC website. However, some of these findings are uncertain due to potential misclassification of deaths due to the limited amount of COVID-19 testing early on. AI in an actuarial world: training a machine to assess matching adjustment eligibility, Machine learning is changing the way we operate. Insights - Review of Code of Conduct; Insights - New Professional Standards – Role of Appointed Actuary ; Young Actuaries Conference 2019; 2018. Michael Rice, Executive Director of Rice Warner, then covered the effects on retirement incomes, specifically the impact of the early release of superannuation scheme. Submit. Data Science - 24 July 2020 Slide pack. •Introduction to ML/NLP government, the judiciary, insurers and customers must strike a balance between meeting, insurer stability. To meet the requirements of SS3/19 (Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change), one of our client’s embarked on a programme in 2020 to enhance its Task Force for Climate-related Financial Disclosure (“TCFD”) for its insurance business and asset manager and to undertake climate stress and scenario testing for select key funds. Cyber risk continues to emerge as a key risk for organisations and individuals. However, it is by no means an easy or straightforward to achieve full integration given to the nature of the risks involved and the constant evolution of information available. 20/20 All-Actuaries Virtual Summit; Young Actuaries Conference 2020; 2019. 2030 – a view from the future - lessons in resilience and climate change risk management. 179 young actuaries registered for the Conference this year, The theme for the YAC was ’Empowering through Uncertainty. Our members are all qualified actuaries – mainly Fellows of the Institute and Faculty of Actuaries. Established in 2002, Oliver James is a global recruitment partner excelling at handling interim and permanent appointments on a contingent and retained basis, up to C-suite level. With-Profits - current areas of focus: A panel discussion. , Manager of Life Insurance and Wealth Management at EY, began the plenary with the COVID-19 impacts on Life Insurance. targeted and sold to the right customers. Print This Page. It has been adopted in Nov 2019 by the IAIS, and has the backing of international regulators (e.g. After the plenaries, the inaugural Young Actuaries Advisory Board (YAAB) was announced, which will focus on improving the engagement of young members with the profession. During his presentation, Andrey also debunked three common NLP myths to further convey how NLP works and shared how interested young actuaries can start building their own NLP models. Members of the CCA receive support and assistance with professionalism, continuing education, client work, representing members' interests, and research support. Hugh shared the following reflections on his actuarial experience in the social sector to date: Actuarial work is often highly regarded so involvement is increasing, Social sector work can suit actuaries because of complex funding arrangements, The importance of always considering the broader policy context, communication, , professionalism around the use and appropriateness of models, was a career focused panel discussion that, Each speaker was asked a range of questions to. “I reckon it might have been the best all round actuarial conference in the world this year.” “Great content, super discussions, impressive set-up. ... and much much more!!!! Murray Goldschmidt, Executive Director of Cyber Capability, Education and Training at CyberCX, provided a high-level overview of the cyber threat landscape and developing cyber capability. There will be updates from an insurance equity market analyst who presents her views on ICS, and also solvency/capital (on-going SII long-term guarantee review) across UK and EU markets, including impact from Covid-19. Crucially we’ll put ourselves in the shoes of the actuary sitting in 2020 and work through the practical factors that, with the benefit of hindsight, would have best helped actuaries trying to make sense of how to help their companies survive that extraordinary decade. We are empowered by the diversity of our backgrounds, driven by a shared commitment to innovate, and inspired by a common mission: to serve our clients to protect the health and financial well-being of people everywhere. Conference papers for 2020. Make your research matter by attending the 2020 Actuarial Research Conference hosted online by the University of Nebraska–Lincoln in the summer of 2020. Recap on the importance of ESG integration; Regulatory developments and guidance available; What firms could learn from the recent COVID-19 pandemic; Key steps for integrating ESG into firm’s day to day activities; Challenges that life insurance companies may face; and. We offer confidential advice, market intelligence, remuneration guidance, career support and the most comprehensive range of actuarial opportunities in the marketplace. In this session we take a pragmatic look at the subject and explore: Speakers: Stephen Carlin, Montoux and Ewen Tweedie, PwC, Part VII transfers in the current environment. As the Institute incurs costs prior to the commencement of this event, no refunds will be available after 5.00pm Friday 4 December 2020. The Actuaries Code - what does it mean in practice Murray also highlighted that the government is likely to classify banking, finance and insurance as critical infrastructure, which will increase the level of cyber security required in these areas. With-profits has been quietly, successfully developing a niche on savings for low risk savers who look for a medium term return. An insightful comment from Murray was that a resilient eco-system no longer relies on software and hardware alone, it requires a cyber capable workforce who understand the cyber risks and how to mitigate them. Deadline: August 28, 2019. Speakers: Chintan Patel and Paul Collins, Bank of England / Prudential Regulation Authority, ESG and climate change integration – the journey for life insurers. Customer expectations are at the forefront of decision making following the Royal Commission. Seminar Archives 2005 and Earlier. The highest performing model was fitted with an XGB (eXtreme Gradient Boosting) algorithm with a Bayesian hyperparameters optimisation procedure. Kevin Zhang, Manager of Life Insurance and Wealth Management at EY, began the plenary with the COVID-19 impacts on Life Insurance. End of April, 93.5p was needed to guarantee payout of £1 in 20 years. He also. Sections Virtual Colloquium 2020. In the unlikely circumstance that this event is cancelled, delegates will be responsible for their own travel and accommodation. The Conference of Consulting Actuaries is excited to announce the 2020 CCA Annual Meeting will be held virtually, from Monday, October 19th to Wednesday, October 21st and Monday, October 26th to Wednesday, October … 2020 African Actuarial Conference. If you missed out, register now to watch recordings of the event. We will discuss the perspectives of some of the key stakeholders, the challenges and the lessons learned. claims that were never intended to be covered and have not been funded for through premiums. Speakers: Andrii Buriak, EY and Rodwel Mupambirei, Lloyds Banking Group, Integrating ESG into long-term strategic asset allocation. Conference of Consulting Actuaries - Advancing The Practice The Conference of Consulting Actuaries (CCA) supports consulting actuaries in all practice areas, in many countries. Speakers: Catherine Thorn, ReAssure, Kris Overlunde, PwC, Jonathan Welsh, Wesleyan and Wei Tham, KPMG, Sustainability and climate change: I’d like to help – but I’m an actuary. This talk from members of the Resource and Environment Board explores how actuaries can play a critical role in building a better future by tackling climate change and helping to accelerate the move to a sustainable financial system. For the first time, the international actuarial streaming platform actuview will be hosting its own online event in September 2020 – the actuview online conference, aoc2020. Actuaries have a role to play across product design, pricing, risk management and experience monitoring. ARC Big Health - Ischaemic stroke - poster. Readers can learn more about YAAB here. Present at one of Life’s biggest events of the year Speakers: Harriet Dunscombe; Carina Lindberg, Natwest Markets and Kelly Moohan, The Pension Protection Fund, Autumn Lecture 2020: Professor Elroy Dimson, Mortality and Longevity Webinar Series 2020, Webinar series - Protection, Health and Care Conference 2020, Current Issues in Life Assurance (CILA) Webinar series, Webinar series - Pensions Conference 2020, Webinar series - Finance and Investment Conference 2020, Webinar series – TIGI 2020 (Technical Issues in General Insurance), Webinar series - Current Issues in General Insurance (CIGI) 2020, Data Science: Opportunities for Actuaries, Continuing Professional Development (CPD). The best piece of advice from Sam was his response to how to start your own business. The Monitoring Phase has started and the Capital Requirement becomes effective in end 2024. Assessing Model Drift – Do internal models accurately reflect the risks that UK life insurers face? Already registered? Open-access content 14th April 2020. The magazine of the Actuaries Institute Australia. The presentation will cover the following, drawing on Phoenix’s own experiences: Speakers: Clarence Er, Hymans Robertson and Sindhu Krishna, The Phoenix Group. Insights and Other Events. ARC Big Health - Diabetic Mellitus II. PRA). •Looking to the future: other possible uses for ML in Life Insurance, Speakers: Rachael Armitage, Deloitte and Simone Bohnenberger-Rich, Eigen. View Event. The TAS's, and the APSs, and why some actuaries haven't read them The project was completed jointly by Lloyds Banking Group and EY. Were these models for investment risk designed with application during an economic downturn in mind? Richard highlighted opportunities for young actuaries working on large projects like IFRS 17 and five key actuarial skills that set him up for success: – especially for providing advice in an uncertain environment. Starting with Richard Trendall, Valuation Actuary at IAG New Zealand, who provided the lessons and opportunities of working on IFRS 17. The key longer-term risk for life insurers will be the longer-term economic impacts to morbidity insurance products. the limited amount of COVID-19 testing early on. With majority of with-profits funds now in run-off there is a clear trend of, and an increasing need for, consolidation of funds between companies. WATCHING THE YOUNG ACTUARIES CONFERENCE. This presentation tells the story of that project. This workshop will highlight how PRA is using regulatory reporting information (i.e. The 2020 Young Actuaries Conference (YAC) went virtual for the first time this year, covering the impacts of COVID-19 on the insurance sector, industry developments, emerging opportunities and risks, and the career journeys of three actuaries. The development of life insurers' Solvency II capital models occurred during a period where markets were much calmer than they've been in 2020. Actuarial Conferences 2021 2022 2023 is for the researchers, scientists, scholars, engineers, academic, scientific and university practitioners to present research activities that might want to attend events, meetings, seminars, congresses, workshops, summit, and symposiums. -Benefits Sam Zheng, Co-Founder and CEO of Curious Thing, is a successful actuary and data scientist who inspired many young actuaries to take on the start-up challenge. Rachel encouraged the young actuaries to take a role in understanding and managing risk by: how their role relates to the bigger picture, industry working groups or supporting colleagues who are already involved, , Acting Senior Regulatory Specialist at Australian Securities and Investments Commission, educating young actuaries on Design and Distribution Obligations which will require issuers, to take a consumer-centric approach and implement effective product governance arrangements. After the plenaries, the inaugural Young Actuaries Advisory Board (YAAB) was announced, which will focus on improving the engagement of young members with the profession. This talk will explore how actuaries might look to future-proof their capital models to make them fit for purpose under a wider range of economic conditions, and how doing so could impact an insurer's reported financial position. By looking at case studies from our recent experience, we will examine the key factors that have aided our success in acquiring and embedding the transferred business. Webinars. 23 Mar 2021. We’ll discuss how these impacted life insurers, the commons characteristics of companies which emerged as winners and the pivotal role of the sustainable actuary in leading this seminal shift. Young Actuaries Conference 2020 > Organising Committee; Organising Committee. But it can sometimes be hard to see how we can match our professional duties with an often heartfelt desire to make an active contribution to that better future. IFoA Financial Reporting Group members will: Speakers: Anthony Coughlan, PwC, Kamran Foroughi, Willis Towers Watson and Darren Clay, Phoenix Group, Recent CMI activity: Implications of COVID-19 for future mortality.
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