This one day seminar is suitable for those who could not attend the annual Life Conference but want to see the highlights.
The Life Conference 2016 took place in Edinburgh in November 2016 and included a wide range of workshops and plenary sessions for life insurance actuaries in the UK and abroad. This one day seminar will cover the Highlights of the Life Conference, including updates on the latest CMI model and high age mortality, new pricing techniques and of course, Solvency II and IFRS17.
Who should attend?
This seminar is primarily targeted at qualified life actuaries who were unable to attend the life conference or who did not attend all their preferred sessions whilst at the conference.
Contact Events Team for more information.
0207 632 1498
Chair: Sheila Harney, Canada Life Re
|09.00 - 09.30||Registration|
|09.30 - 09.40||Chair's introduction|
|09.40 - 10.40||
Plenary 1: The Professional Actuary – This Means You!
Speaker: Malcolm Slee, Professional Skills Working Group
|10.40 - 10.45||Transfer to next session|
|10.45 - 11.35||
Workshop Session A
A1: Models Models Everywhere
Models play a vital role in effective risk and capital management in all financial institutions, but they bring risks too. Drawing parallels with nature and science, this session gets under the lid of model risk in the financial world.
Speaker: Stephen Makin and Elaine Murphy, Hymans Robertson
A2: Risk Management in the New World Order
We will discuss the implications of the following:
Speakers: Michael Eakins, Goldman Sachs and Neil Snyman, Aviva Investors
|11.35 - 12.00||Morning refreshments|
|12.00 - 12.50||
Workshop Session B
B1: Optimising Annuities under Solvency II
Solvency II presents a new range of issues for European insurance companies, from reducing capital requirements (SCR) to reducing capital volatility in difficult market conditions.This presentation will focus on how reinsurance solutions have evolved to manage the complexities of the new regulatory landscape, including annuity reinsurance solutions, financial reinsurance and asset based risk transfer. The presentation will include case studies of how reinsurance solutions have helped insurance companies manage their Solvency II balance sheet from both the insurer and reinsurer perspective.
Speakers: Ian Carey, Cario Consulting and Cormac Galvin, RGA
B2: IFRS 4 Phase II is Happening, has the Wait Been Worth it?
Speakers: Anthony Coughlan and Richard Olswang, Financial Reporting Group
|12.50 - 13.50||Lunch|
|13.50 - 14.40||
Workshop Session C
C1: Price Optimisation: A case study of new pricing techniques
Price optimisation techniques are standard practice in the motor insurance market, but are new to the life insurance market. This session starts by exploring the theory behind price optimisation: increasing the value of new business by analysing the propensity of individual advisers/customers to recommend/purchase an insurer's product, and setting prices accordingly. The majority of the session focuses on a ground breaking real life case study of implementing price optimisation for a protection portfolio, considering both the benefits and the practicalities of implementing these techniques.
Speakers: Alastair Black, Willis Towers Watson and Alan Clarkson, Royal London
C2: Comparing Rating Methodologies to Internal Models
Credit ratings and internal models are both concerned with modelling rare events, particularly those that may precede insolvency or default. However, the modelling approaches have historically been quite different. Credit rating agencies have made heavy use of deterministic stress tests, while capping ratings where one entity’s financial woes could link to related entities. Insurance internal models are typically fully stochastic, with explicit correlation assumptions between risks. As rating agencies place increasing reliance on internal model output, Andrew Smith will explore how the two modelling worlds may be able to learn from each other.
Speaker: Andrew Smith, Deloitte
|14.40 - 14.45||Transfer to next session|
|14.45 - 15.35||
Workshop Session D
D1: The CMI Model and High-age Mortality
An update from the CMI on two areas of current research:
Speakers: Tim Gordon, CMI Mortality Projections Committee and CMI High Age Mortality Working Party
D2: Masterclass: Communication - Conflict Resolution
Explore the power of speaking up. How to have difficult conversations; learn a process for conflict resolution and tips for managing upwards and managing peers.
Speaker: Simon Paine, Pop-Up Business School
|15.35 - 15.55||Afternoon refreshments|
|15.55 - 16.55||
Plenary 2: Impact of Brexit on the UK and Irish Insurance
Speakers: Kevin Thompson, Insurance Ireland and Steven Findlay, ABI
|16.55 - 17.00||Chair's closing remarks|