Description: Insurance is a technically demanding, risk-based, capital intensive business. It is therefore not surprising that the industry is fertile ground for the development of technical models used to measure and price risk and manage capital. This session presents the forces which have significantly influenced the evolution of risk and capital management techniques and organization in the insurance industry, including regulatory changes, financial market instability, enlightened self-interest and ultimately a focus on shareholder value creation. Combining over 20 years in the industry in risk and finance roles with a rigorous academic approach, the presenter will provide insights into the most important business questions which insurers face today and the technical tools and frameworks used to answer them.

Description: In this third issue of International News in 2022, we feature a contribution by SCOR, a leading reinsurer, highlighting the Actuarial Awards that SCOR presents annually, since 1996, to the best academic work in actuarial science, with annual prizes in several countries throughout the world. We also feature an article by Jessica Leong, FCAS, on barriers that Asian women must overcome to become leaders. Jessica recounts her own experience and how in overcoming some challenges she became the first Asian president of the Casualty Actuarial Society.

Description: The COVID-19 pandemic helped accelerate many changes in the Health Care system that were already taking place. The major disruptions to the way providers operated was quite evident with shifting of focus away from elective services to create capacity for treating COVID-19. However, even before the pandemic, providers were adapting to changes in their environments.

Description: The December 2013/January 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: To discuss in practice, in order to control the deviation of cash flow forecast, some optimizations can be made on the basis of actuarial model, including short-term surrender rate optimization, grace period premium adjustment, inter-account cash flow transfer and so on.

Description: After 23 years, the new guidelines for insurance contracts have been released, which describe life insurance economic behavior and show its operating results in an unprecedented and complex accounting language. The management of the insurance industry, as well as accounting and actuarial professionals, will face new challenges. This speech started from the basic logic of accounting and the framework of the standards, combined with the insurance industry's operating rules and accounting characteristics, to illustrate the orientation of the new insurance contract standards. From the internal and external perspectives of life insurance operation, this paper used common management language to discuss the understanding of the new insurance contract standards, the focus issues of the industry and the key issue of the effective implementation of the new standards -- the deep integration of accounting and actuarial.

Description: This article discusses the attributes of a unified Operational Risk Management framework and how those attributes can underpin a seven-factor economic capital model.

Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: How do we take a Minimum Viable Products (MVP) approach to launch new insurance products? Join this moderated discussion and focus on three key development aspects: Distribution, Systems, and the design and pricing of the Insurance product itself. Come discuss reasons to choose an MVP approach and how it solves many of the product launch challenges.

Description: This article provides an overview of the GI Course within the SOA’s Climate Risk Certificate Program