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Web Session "How Visualization and Computer Science (AI)
Could Support Pension Funds" on 9 October 2023
The supreme body of the pension fund (board of trustees) is
responsible for the overall management of the pension fund. The
non-transferable and inalienable duties of the supreme body include
the following tasks among others: the setting of the financing
system and comprehensibly designing, monitoring, and controlling
the asset management to improve the returns and benefits for the
members of the pension fund. Since being a member of the board of
trustees is not a full-time job, the scope of duties is enormous:
meeting the aforementioned legal requirements requires a lot of
time and expertise. Pension fund accredited actuaries, investment
consultants, auditors as well as pension fund management teams
should fully support the board of trustees to make proper
decisions.
The reliable forecast of liabilities is very important for the
determination of the pension funds' financing system and its
control (with risk budgeting). Since many liability parameters
depend on the development of yield curves and inflation, it is
worthwhile to prepare the analysis of their historical data,
visualize them and additionally forecast them reliably.
The aim of this web session is to show how useful the yield curve
and inflation forecasting are with the deep learning approach, the
visualization of the results and the liability forecast based on
them. These approaches are implemented using Python
(Anaconda/Jupiter) and R-Project. This type of analysis helps the
board of trustees to make their decisions and to better understand
the forecast results (compared to affine models). In addition, we
will show that such approaches are useful for forecasting
international accounting results (IFRS, US GAAP, IPSAS) and for
preparing asset allocation to be the strong third
contributor.
further details
Web Session "Communication for Actuaries" on 23-26 October
2023
The work that actuaries perform plays an important role in society
and in a wide variety of areas as the profession is also developing
in non-traditional fields. The most common challenge in your work
often refers to communicating your findings, results, ideas and
arguments to various stakeholders (e.g. non-actuaries) who don't
have that technical knowledge and who look at the business from
different angles.
As actuary, you feel safe in the universe of numbers and formulas
and less so in the universe of words and paragraphs because you
speak your own technical language. The course Communication for
Actuaries will help you to improve your communication skills so you
can achieve an effective communication, which will allow you to
achieve your objectives and make the desired impact with your
work.
The Communication for Actuaries course is tailor-made for
actuaries and the situations that you encounter. It is an
interactive training course that ensures that the theory is
immediately applied through various exercises (e.g. exchanges in
small groups, role-plays, discussions) that relate to terms or
situations of your day-to-day work.
The course is designed to give you a solid foundation on the topic
of communication and to practice what you learn so you can use the
gained knowledge in areas that are relevant for your work. The last
day offers you the opportunity to make a short presentation
specific to your work for which you will be given individual
feedback. At the end of the course, you will know exactly how to
tackle your next communication challenge.
further details
Web Session "Emerging Risks" on 14 November
2023
Recent developments and events have put some Emerging Risks in the
spotlight, such as geopolitical risk, artificial intelligence, and
climate change. However, there is a large number of further topics
in the Emerging Risks universe that might warrant equal attention.
Their assessment will always have to be specific to the individual
company and its activities and requires a good overview and solid
understanding of all Emerging Risk as well as their related trends
and interconnections.
This web session will allow participants to gain a good overview
and solid understanding of Emerging Risk, their related trends, and
their interconnections. The main tools to achieve this will be the
presentation, discussion, and analysis of industry standard
publications on the subject, such as the CRO Forum Emerging Risks
Radar. Selected risks and trends will be covered in depth to
understand their relevance for actuaries. The event will allow
participants to raise questions and to flag areas of special
interest.
further details
Web Session "Cross-Border: One Tariff for 27 EU
countries?" on 30 November 2023
Cross-Border business plays an important role in Europe´s
insurance industry. For anyone running this business some topics
are obvious. These are especially legal issues. Insurance
supervision laws have been harmonised by Solvency, but not (yet)
insurance contract laws or tax legislation.
Even if these laws have substantial influence on the calculation
of tariffs, the online training wants to give insights on how to
keep the influence low and puts focus on actuarial issues.
Do we need 27 different mortality tables for 27 EU-
countries?
What about differences in underwriting?
Questions like this will be discussed in the web session.
Without claiming to have experience from 27 EU countries, the
referent will share his knowledge and experience about calculating
same tariffs for more than 10 countries.
During the web session the main actuarial topics of cross-border
product development will be discussed. This will be essentially
done by using term life insurance as an example, making some
excursions to disability and health.
As a result of the web session, we create a simple risk product we
can offer everywhere in Europe.
further details
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