Description: An overview of the retirement schemes across various Asia markets, looking at each of the 5 pillars of the retirement model. As a result of ageing workforce and increasing life expectancy, retirement savings gap is becoming a major social issue for many countries. An effective retirement systems require all stakeholders including the government, employers, retirement services providers and individuals to understand the risks involved, their roles and responsibilities, and to commit to do their part in tackling the retirement savings gap issue. This presentation will point out where improvements can be made from each stakeholder's perspectives, with a focus on the Asia markets which contain a mix of some of the most populous countries in the world and countries with very small population, developed economies as well as emerging markets, young and old labor force, and finally different cultures, all of which affects how people view and prepare for retirement.

Description: Learn about key actuarial and analytic tools and methodologies used by commercial health insurance to identify and quantify drivers of healthcare cost and utilization (including wasteful and low-value ones) and risks. Use case scenarios in which these tools and methodologies apply, such as underwriting, reinsurance, medical management for population health and chronic diseases, managed care contracting, insurance market reform, provider payment reform, etc., will also be covered. Experience from the U.S., China and other parts of the world will be shared.

Description: More and more providers are desiring risk-based contracts instead of traditional FFS-based contracts. This session is intended to outline some of the actuarial best practices in risk-based contracting related to the many flavors of the CMS ACO programs, as well as Commercial risk-based contracts.

Description: The purpose of this paper is not to present a revolutionary new concept, instead, it is to reexamine a familiar concept in the light of new market circumstances and, to consider the consequences to the life insurance industry if the concept were adopted.

Description: The key tasks of credit risk capital project under CROSS II mainly focus onL(1 )Adjustment of measurement framework; (2) Calibration of risk factors, including both credit spread risk and credit default risk;3)Introduction of concentration risk measurement; (4) Higher requirement on look-through rule.

Description: This report details a study of the 2000-2015 group life waiver of premium experience

Description: The Society of Actuaries Strategic Research Program Steering Committee is pleased to release this report examining how well people estimate their own life expectancy.

Description: In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. In contrast to previous studies that document a significant product line and geographic diversification discount relative to more focused competitors, our analysis suggests that firms with effective ERM programs exhibit a performance premium. Using the Standard and Poor’s (S&P) ERM ratings from 2006 to 2012, we find that product line diversification has a significant positive effect on value for more diversified firms with well-implemented ERM programs, as compared to those with weak ERM.

Description: Mr. Rallis will discuss trends in the market for risk transfer of defined benefit plans in the US. He will also address implications of increasing longevity.

Description: This is one of a series of SOA-sponsored papers on the subject of Evaluating the Results of Care Management Interventions. This paper addresses the theory of measurement design and provides a practical evaluation of the most common designs for the practitioner.