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Benefit from discounts of many EAA's web sessions taking
place in May and June 2022 with early bird rates in April 2022.
These online trainings cover topics such as

• Cyber Risk,
• IFRS 17, 
• Machine Learning and
• Neural Networks.

Furthermore, you are invited to visit our website for all published online trainings here.

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Web Session: "Actuarial Modeling for Cyber Risk" on 17 & 24 May 2022, 9:00-12:30 CEST

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After an introduction to the specificities on cyber risk, this session gives first steps towards a better understanding of cyber risk, by providing mathematical models and actuarial analysis. For a better quantification of cyber risk, we propose innovative models, both for the severity component (size of the claims) and the frequency component (accumulation risk and clustering features) of the risk.
After completing this course, you will be able to

• Identify the specificities of cyber risk
• Identify the factors that may jeopardize the mutualisation of cyber risk
• Identify extreme events and convey a risk segmentation
• Construct accumulation scenarii on a cyber portfolio
• Quantify the impact of protection measures on the risk of saturation in the insurer response capacity.

Your early-bird registration feeis € 300.00 plus 19% VAT until 5 April 2022. After this date, the fee will be € 400.00 plus 19% VAT.
further details

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Web Session: "IFRS 17: A Deep Dive Into Revenue from Insurance Contracts" on 18 May 2022, 9:30-12:45 CEST

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The purpose of this web session is to discuss both conceptual and practical aspects regarding revenue from Insurance Contracts. The conceptual part aims to provide participants with a solid understanding of the IFRS 17 revenue guidance in order to prepare them for relevant discussions with management, auditors, clients, analysts etc. In particular, the web session will cover:

• How does the revenue concept for insurance contracts align with the general guidance in IFRS 15 Revenue From Contracts With Customers for other industries, especially non-financial businesses - and does IFRS 15 affect the presentation of insurance contracts in some kind of "non-actuarial" sense?
• How does revenue calculation for insurance contracts differ between the different measurement models in IFRS 17?
• Which constraints exist for revenue recognition and how can insurers make sure that they meet these constraints?

Your early-bird registration feeis € 150.00 plus 19% VAT until 6 April 2022. After this date, the fee will be € 205.00 plus 19% VAT.
further details

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Web Session: "Understanding IFRS 17" on 19/20 May 2022, 9:00-16:20 CEST

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The goal of the two-day web session is to provide participants with a comprehensive introduction to the new measurement, presentation and disclosure guidance for insurance contracts. It will cover life, health and non-life business, including the special guidance on direct participating contracts and shorter term non-life contracts and give useful examples.
In the web session, we will first shed a light on the context of accounting for insurance contracts within the IFRS 17 framework. We will present and discuss the general concepts behind the new model and refer to the application of valuation models like the Variable Fee Approach (VFA) and the Premium Allocation Approach (PAA). The web session will proceed with a discussion of topics specific to individual lines of business (highlighting topics still under discussion) and summarize potential approaches and solutions. We will close with an overview of methodical hot topics relevant for technical implementation seen in various European markets, share emerging market views and discuss these with the participants.
Overall, the goal is to enable participants to understand the standard and help transferring the requirements into your specific situation. It is thus intended to prepare participants for model development, implementation, testing, reviewing and consulting with management, accounting and auditors.

Your early-bird registration fee is € 600.00 plus 19% VAT until 7 April 2022. After this date, the fee will be € 780.00 plus 19% VAT.
further details

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Web Session: "IFRS 17: The Variable Fee Approach - Basics and Challenges" on 25 May & 1 June 2022, 9:30-12:45 CEST

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Starting from the revenue recognition concepts of fee-based services, we will discuss the qualification criteria of IFRS 17 for the Variable Fee Approach (VFA), the approach to be applied for insurance contracts with direct participation features. Basis are certain contractual features, including the identification of the underlying items belonging to the contract. Further conditions need to be met to qualify insurer's share in the surplus as (variable) fee. Other contractual features like inheritance and mutualisation may add complexity to the measurement of the cash flows under a contract and their effect is explained. Changes of the overall variable fee expected to be received under the insurance contracts influence the subsequent measurement of the Contractual Service Margin, the key difference of the VFA to the general model. The explanation of those differences will be the main part of the second session. However, the seminar cannot focus on consequences and solutions for specific jurisdictions.

Your early-bird registration fee is € 300.00 plus 19% VAT until 13 April 2022. After this date, the fee will be € 400.00 plus 19% VAT.
further details

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Web Session: "Recent Actuarial Machine Learning Applications: An Overview" on 31 May 2022, 10:00-12:00 CEST

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Our focus will be on recently implemented models. An important criterium for the machine learning applications which will be presented in the web session is that an actual model with a company's data has been built.
In the beginning we will give a short introduction of machine learning and its best known and currently most widely used algorithms - decision trees derivatives and deep neural networks. Then we will introduce a few applications by presenting the context of the actuarial problem and the results. Our intention in this web session is not to present code or to actually go through the modelling process, but rather to offer as broad an overview as possible of the recent applications in the actuarial departments.

Your early-bird registration fee is € 100.00 plus 19% VAT until 19 April 2022. After this date, the fee will be € 140.00 plus 19% VAT.
further details

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Web Session: "Neural Networks Meet Least Squares Monte Carlo at Internal Model Data" on 8 & 15 June 2022, 10:00-12:00 CEST

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Solvency II aims at implementing a set of robust solvency rules for insurance companies, which takes the most material risks into account in an adequate way. In principle, the Solvency II framework requires the derivation of the full loss distribution of the available Own Funds, with the goal of deriving its correct Value-at-Risk. This particularly does not only involve a market consistent calculation of the economic balance sheet items at the valuation date but also its re-evaluation for each possible scenario at the risk horizon (one year within Solvency II).
Most insurance companies avoid this enormous effort by applying the standard formula approach to calculate the Solvency Capital Requirement (SCR). But the largest life insurers usually stick to the original Solvency II requirement and develop a full-scale internal model which allows them to calculate the economic balance sheet for thousands of one-year scenarios. The focus of this web session is on presenting a regression-based Monte Carlo approach in order to estimate the SCR. By doing so, we challenge the state-of-the-art Least Squares Monte Carlo approach based on polynomials by the most promising machine learning technique, namely ensemble of neural networks.

Your early-bird registration fee is € 200.00 plus 19% VAT until 27 April 2022. After this date, the fee will be € 270.00 plus 19% VAT.
further details

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