Description: Internal audit (IA) projects typically focus on evaluating the risks and operational effectiveness of a company’s technological, regulatory/compliance, and/or financial processes and procedures. Because LDTI and IFRS 17 compliance will require extensive rewiring of existing and possibly the implementation of new processes and procedures to comply with the new accounting requirements, IA will be critical in conducting the initial risk assessment of these changes, monitoring of the process changeover, and conducting a post-implementation validation after conversion. Explore many specific areas that will be impacted, highlight those aspects likely to be under the IA magnifying glass, and find out how you can best prepare your IA teams to understand the changes and expedite the testing timeframes of their audits. By attending the session, you will be able to: • Understand general IA testing approach and framework. • Identify and address the key processes and procedures likely to be impacted by accounting change. • Build a communication plan that tailors the level of detail of documentation to the intended audience. (e.g., Leadership and BOD) • Document decisions made and implemented with IA in mind.

Description: The time has arrived for ASU 2018-12, otherwise known as Long-Duration Targeted Improvements (LDTI). For health insurance products, the ASU will require considerable efforts to make the necessary changes to valuation systems, procedures, assumptions, and/or methodologies in order to be in compliance. This session is designed to cover LDTI implications specific to carriers of long-term care and supplemental health products, including changes to how attained age rated products will be approached, allocating and discounting the claim liability (IBNR), and how the treatment of Profits Followed by Losses (PFBL) will evolve under LDTI. By attending this session, you will be able to: • Understand LDTI’s key impacts on long-duration health insurance products. • Recognize the treatment of attained age rated products under LDTI. • Comprehend the requirements of allocating the claim liability to cohorts. • Grasp the requirements pertaining to the discounting of the claim liability. • Understand how PFBL will evolve under the new standard.

Description: Dive into the challenges of practitioners working across components that make up the Risk Management infrastructure with a variety of health, life and P&C insurers in this panel discussion webcast. Panelists will highlight how these insurers operate with the data and tools available to them and the existing challenges in interactions with an organization's leadership. Be part of this webcast that delves into the interplay between first- and second-line defense and how high levels of independence and professionalism can be achieved in a fast-moving, multi-discipline cross functional ERM role.

Description: This session will discuss the existing and potential tax-favored opportunities for LTC insurance. It will use non-actuarial and actuarial tax experts to discuss the existing (and potentially non-controversial legislative possibilities) to deal with the impending societal issues associated with the baby boomers progressing towards a tidal wave of long-term care needs that will mostly be funded through a Medicaid system that will be unable to deal with it.

Description: What are insurance companies promoting in the market? How are they framing their products and services? What is their value proposition to producers? Members of the SOA Marketing and Distribution section receive an exclusive benefit that addresses these questions.

Description: Reflections from the past year as chair of the LTC Section Council.

Description: The LTC insurance sector faces a crisis of credibility due to recent company failures. Market evidence indicates reduced confidence in the reserve sufficiency of companies with large legacy LTC exposures. Disclosures show the persistence of problematic actuarial and investment return assumptions. Institutional backstops exist but vary by jurisdiction and have elements which can exacerbate rather than ameliorate problems. Fortunately, LTC liabilities accrue over long time periods. An industry supported incentive structure can be conceived that would establish stronger standards and encourage greater reserving in exchange for a more reliable and rational backstop.

Description: General Session

Description: Explore the National Academy of Medicine’s Global Roadmap for Healthy Longevity.AARP has been a primary sponsor of the Roadmap. The Roadmap defines Healthy Longevity as when years of good health approach the biological life span, with physical, cognitive, and social functioning that enables well-being and establishes 2050 as the target year to achieve this goal globally. This Roadmap establishes five overarching principles for healthy longevity.

Description: Experts in the field of healthy aging discuss new insights and emerging services and ElderTech, such as wearables and passive monitoring devices and virtual therapies, that can prolong a disability-free lifestyle. What is effective? How do we get people to engage in activities that are good for them in the long run?