Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: Develop a better understanding of diversity, equity and inclusion (DEI) across the financial services and risk management industry, with a focus on actuaries. Panelists will address topics such as industry-wide diversity efforts, as well as current challenges facing diverse groups. Come listen to these panelists share perspectives on attracting, fostering, retaining and increasing diverse actuarial talent, in addition to the SOA’s DEI goals in the coming years.

Description: Expect to cover key points from the Living to 100 conference around living and social environments for the elderly. Following the review will be a discussion about implications related to LTCI plans and policies around living environments. It will conclude with a peak behind the curtain for pricing for CCRCs.

Description: This paper uses the ideal quasi-natural experiment of government-subsidized agricultural insurance program phased out in different regions of China since 2007 to study the effects and transmission mechanisms of the program on alleviating regional poverty using a multi-period Difference-in-Differences (DID) approach. Specifically, this paper identifies the causal effects on the incidence, depth and intensity of poverty among rural residents. The research has important policy implications. First, this paper uses the program as a case to provide a research paradigm to estimate effects of implementing policy instruments that combine markets and government mandates. Second, as common prosperity is now a government imperative, the research also provides insights into ways insurance can be used to hedge income risks, alleviate poverty and help achieve more equitable distribution. The paper has been published on WeChat account of Chinese Association of Actuaries on February 9, 2022. The full version has been published in CSSCI journal Insurance Research, issue 11, 2021.

Description: The momentum in value-based care has produced an opportunity for actuaries to become pioneers in health care

Description: Artificial intelligence (AI) at the heart of new digital tools allows actuaries to extract structured data useful for creating more precise risk assessment models. This technology sits best alongside the expertise of insurance professionals who have years of experience in the industry. RGA’s partnership with DigitalOwl is an example of how AI combines with human knowledge for the best outcomes.

Description: The recent wave of innovation in GenAI has unlocked an entirely new category of AI applications. Whereas AI has traditionally focused on automation and predictions, LLM’s and Generative AI give us the opportunity to create AI applications that act as copilots. This emphasis on contelligence and empowering knowledge workers has already begun to change the way work is done. High expertise knowledge workers such as actuaries will be able to use this wave of AI Apps to make better decisions and dedicate more of their attention to the parts of the role that require domain expertise and judgement. Join Charles Morris, Microsoft’s Chief Data Scientist for Financial Services, as he talks about the latest advancements in this space and the opportunities it creates for expert knowledge workers. Charles Morris is the Chief Data Scientist for Financial Services at Microsoft. Charles has deep expertise in the financial services domain and works with many of the world’s leading asset managers, banks, insurance companies, and financial platforms to develop and execute their AI strategies.Currently, Charles is focused on applying Generative AI to financial services and advising many top financial institutions in building their own copilots and reimagining their businesses.Charles is a data scientist and machine learning engineer by profession and an expert in MLOps. Before joining Microsoft, Charles practiced data science, machine learning, and cloud engineering in the asset management industry. He has been a featured keynote speaker at several prestigious events and forums and is a highly sought after public speaker in the domain of AI and Innovation.

Description: Inspired by other financial savings products available to Canadians, this article describes a potential solution for financing future health expenses with the creation of a Registered Health Savings Account (RHSA). This solution has been thought on the basis of four premises : 1- Individual Accountability for Health Expenses; 2- Early Savings Leads to More Accumulation; 3-PreferredTax Treatment for Personal Health Savings; 4- Complementing current public and private health systems; Main elements of the RHSA are described (Contributions, Accumulation, Utilization of account, Management by financial institutions).RHSA'S expected balances and some other results under three scenarios (a person in good health, one in poor health, and one with unexpected death at age 45) are summarized in a table. Health expenses deducted yearly from RHSA's balance were estimated using total, per capita, provincial government health expenditures by age-band for Canada, in 2020, from the Canadian Institute of Heath Information’s (CIHI), which account for 71.8% of total expenditures, that is public + private. Thus 28.2% of total expenditures were used for private health expenditures, then forecasted to 2024 and projected using a 4% annual trend. Some objections to the solution explored were anticipated as well as some refutations to these objections.

Description: The article provides a summary of key issues presented at the 2023 U.S. Living to 100 Symposium focused on the interests of retirement professionals and retirees. It provides an overview of the subjects covered. The discussion focused on the well-being of retirees and the development of the retirement system. It is focused on late-in-life issues and having the best life possible during that period. It balances technical and lifestyle issues, with an emphasis on mortality and longevity trends and influences. Some of the topics discussed include the impact of COVID, climate, housing, and age-friendly communities. The Elder Tech Symposium was merged into Living to 100 and includes discussion of a variety of technology approaches to improve lives and simplify support. The symposium recognized that the decisions needed and concerns during retirement are different later in life, particularly as people decline.

Description: This session will address the risk management, reserving and capital issues associated with index-linked annuities including financial reporting considerations for FIAs and RILAs, benefits of combining VA and RILA hedging and reserving under VM-21, current and future challenges with FIA reserving under VM-22, potential capital redundancy for FIAs, RILA interim values under AG 54, NAIC economic scenario reform, asset modeling, fund mapping and more!