Next ACHS Club Meeting
Join us at the Connecticut Convention Center for a day of fascinating speakers, networking opportunities, and continuing education opportunites!
Schedule & Session Outlines
(Expand for details & downloads)
Morning General Session
9:15AM - 10:15AM
Economic & Market Update: Challenges and Opportunities
Afternoon General Session
3:45PM - 5:00PM
Communication Breakdown, moderated by Kelly Hennigan
Breakout Session #1
10:45AM - 11:45AM
A) Impact of the Tax Cuts and Jobs Act on
B) Retirement Plans: Leveraging Behavioral Economics & Data Analytics
C) A Solution for Funding Special Education in Connecticut
Jay Vadiveloo, Professor & Director, Goldenson Center, UConn
Martha Deeds, Senior Policy Analyst, Connecticut School Finance Project
Currently, Connecticut is one of only four states with no system for funding all of its roughly 77,000 students who require some special education services. As a result, special education costs for Connecticut’s public schools have become unpredictable, making it difficult for districts to plan budgets that meet the needs of all the students they serve. This unpredictability is why Connecticut must improve how it funds special education, and implement a system that benefits all students and ensures adequate funding for students with disabilities—no matter what their needs are.
Our solution to Connecticut’s special education funding challenges is the development and implementation of a Special Education Predictable Cost Cooperative. The Co-op is a special education finance system that allows the state and local governments to share in special education costs. Using a cooperative-type model, the Co-op makes special education costs predictable for districts and towns, allowing for better budget planning.
D) A Post-Mortem on Repeal & Replace
Breakout Session #2
1:00PM - 2:00PM
A) The Evolution of the Health Actuary
Joan Barrett, Senior Consulting Actuary, Axene Health Partners
Olga Jacobs, Vice President and Actuary, UnitedHealth Group
David Liner, Principal, Consulting Actuary, Milliman
What an exciting time to be a health actuary. In this session, presenters will discuss the major disruptors to the health insurance landscape, including its impact on the profession, the analytical challenges and the impact on stakeholders like consumers, and employers and health plans. This session is based on a recent strategic initiative chartered by the Health Section Council.
B) Group Long Term Disability Credibility Study
Paul Correia, Consulting Actuary, Milliman, Inc.
Group disability insurers use historical experience to inform their pricing and underwriting decisions. Understanding the statistical credibility of the experience is crucial to making well-informed decisions. In this session, Paul will discuss credibility applications in the pricing of long term disability insurance, and will review the results from recent SOA research on the topic.
C) Retirement Readiness in Three Countries –
Who is ready to retire?
D) PBR – The Latest Developments
Linda Lankowski, VP and Actuary, Prudential Financial
Kimberly Steiner, Director, Willis Towers Watson
Principle-Based Reserves are not a new topic. Actuaries have been dealing with AG-43 and asset adequacy analyses for many years. What is new is the Valuation Manual, and VM-20 for life products in particular. Some companies have now completed their first life insurance PBR reports, and this session will provide an update on issues those taking full advantage of the three year implementation window may experience and recent and upcoming changes to VM-20.
While VM-20 did not change annuity reserving, regulatory changes are brewing there, too, and the session will provide attendees an overview of expected changes in both variable and fixed annuity reserving practices.
Breakout Session #3
2:15PM - 3:15PM
A) The Stories We Could Tell: Case Studies
From the ABCD
David Driscoll, Principal, Consulting Actuary, Conduent
In the United States, the actuarial profession is a self‐policing one. The Code of Professional Conduct and Actuarial Standards of Practice define standards of professionalism for actuaries delivering services. The profession looks to the Actuarial Board for Counseling and Discipline (ABCD) to respond to questions regarding whether practice complies with these guidelines.
David Driscoll, a member of the ABCD, will talk about the work of the ABCD and review case studies based on issues raised in matters considered by the ABCD.
B) Agile for Actuaries Panel Discussion
Moderated by Phil Rant
Phil Rant, VP & Actuary, Prudential Financial
Lu Ma, Director, Actuary, Retirement Risk Strategy & Analytics, Prudential
Stephen Brown, Modeling Development Lead, Voya
Laura McKiernan Boylan, Product Owner – Algorithmic Underwriting, Haven Life
“Agile” has become ubiquitous in the software industry, and has become so pervasive in other fields that it has now reached fullfledged buzzword status. But what exactly is Agile, and how can the framework help you be more agile? Attending this session will help you get past the endless array of jargon (“user story,” “velocity,” “MVP,” “burn down,” etc.) and explore principles and ideas that can turbocharge the way you work and maximize the value you deliver to your customers.
C) Life and Annuity Product:
The View From the Other Side
Rob Stone, Financial Advisor, Northwestern Mutual
Actuaries often are asked to view product from a technical standpoint, whether in pricing, valuation or modeling. Often the ways products are positioned in the marketplace focuses entirely on everything BUT the technical aspects of product.
In this session you will hear from someone who has been hip-deep in both worlds: 25 years as an actuary and now a year as a financial advisor. In this session the process of marketing as an advisor and the ways products are positioned to clients will be contrasted with the technical view of creating and pricing product.
D) Post-Model Transformation...
Transformation! Day 2 Considerations
Bryan Lindsley, Senior Consultant, Oliver Wyman
Lei Rao-Knight, Vice President and Actuary, Prudential
Many insurers and reinsurers have modernized/converted their models over the last five years to meet new financial reporting requirements and strengthen efficiency, controls and governance. Conversion projects are often subjected to timeline and data constraints that limit the end-state model from meeting its full potential. The speakers will facilitate an interactive discussion with the audience through a live survey and address key items that can often be improved upon on post-conversion.