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Enroll Early, Learn Smart:
Unlock Your Early Bird Benefits 

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Seize the chance to think about prospective CPD trainings in the near future and capitalize on our early bird offerings.

Gear up for a journey of advancement with our upcoming web sessions scheduled for January and February 2024.

For a comprehensive array of discounted opportunities, navigate to our website, where a plethora of Web Sessions and CERA trainings await your exploration. Let this winter be a season of elevated understanding and learning.

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Web Session 'Artificial Intelligence Act: The Insurance Fallout'
22 January 2024 | 9:00-12:30 CET

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The purpose of this session is to introduce the relevant aspects of regulation, timelines and consequences with respect to the actuarial practice. Starting from the study of relevant articles of the AI Act draft, we will develop an understanding of the impending consequences and likely interpretations of the legal framework. The seminar is structured as follows:

• Contents and objects of regulation
• Actuarial relevance
• Example cases
• Implementation advice
• Outlook and discussion

Kindly take note: This session is intended as information seminar; no legal counselling will take place.

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Web Session 'Calculation of Life Insurance Products by Means of Markov Chains'
24 January 2024 | 10:00-12:00 CET 

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The goal of this web session is to give participants an insight into the Markov chain calculation approach in life insurance and its implementation in modern administration systems. Using examples specifically tailored to life insurance tariffs, participants will also gain first practical experience with the Markov approach. Finally, the theoretical and practical components of this web session should enable them to also create and calculate new life insurance tariffs or variations of existing products by using Markov chains.

Actuaries in (but not restricted to) life insurance with experience in the traditional calculation of life insurance products by means of commutation values are suited for this web session.
Since the practical part of this session is based on examples created in MS Excel, only basic experience in MS Excel is required.

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Web Session 'SCR Interest under Solvency II'
31 January 2024 | 10:00-12:00 CET 

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The purpose of this web session is to explain how the current SCR interest has been calibrated based on Principal Component Analysis and the need for changes in a low interest environment. We will then describe the new relative shifted approach and preliminary impact assessments. We will also address the question on the change in interest rate volatility in a very high or very low interest rate environment.

Participants are expected to have some basic knowledge on Solvency II and interest rate risk.

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Web Session 'Socio-Economic Mortality Curves'
1 February 2024 | 10:00-12:00 CET

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The goal of the session is to clarify the impact of various socio-economic factors on mortality and its impact on the valuation and risk-management of retirement products. At the end of the session people will have a good understanding of

1. Impact of socio-economic status on mortality rates
2. Impact of differences in mortality curves on product valuations
3. Adjusting mortality models to take socio-economic factors into account.

This session is primarily aimed at people active in the pension and insurance industry but should not present any major difficulties for other participants with an interest in the subject. No previous knowledge of mortality modelling is required. A basic understanding of mortality rates, finance and general statistics is assumed.

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Web Session 'Liquidity Risk'
7 February 2024 | 10:00-12:00 CET

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This session aims at explaining the sources of liquidity, the requirements and supervisory measures under Solvency II, possible approaches and metrics to monitor and manage this risk.

We will start the session by illustrating liquidity issues on historical cases in the insurance sector and their propagation in the financial system. After the introduction, we will explain Solvency II requirements on liquidity risk and supervisory powers. Possible metrics and approaches will be discussed. EIOPA stress test and risk dashboard on liquidity will then be described. We will end up with a concrete example and a quiz supporting key takeaways.

Participants are expected to have some basic knowledge on liquidity and Solvency II.

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Web Session 'CERA, Module A: Quantitative Methods of ERM'
13-16 February 2024 | 9:00-15:00 CET

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The 4-day web session assists actuaries in broadening their knowledge about modern quantitative financial and actuarial modelling; these topics form an essential part of the CERA syllabus. At the beginning of the online training we give a brief overview of the EAA-route to the CERA designation. The core part of the web session begins with an introduction to the modern theory of risk measures. Next, a number of statistical techniques are discussed, that are highly relevant for the analysis of actuarial and financial data and for the model-building process in risk management. Among others, we will consider extreme value theory, dependence modelling, copulas, and various aspects of integrated risk management. The training continues with an introduction to the modelling and the management of interest rate and credit risk. In particular, participants will learn how to price simple interest options or Credit Default Swaps,  how to account for counterparty risk and how to deal with credit portfolio risk.

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actuarial-academy.com

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