2019 JUN | 3rd European Congress of Actuaries
Watch the highlights of ECA 2019 live from Lisbon
From 6 to 7 June 2019, the presentations of the ECA 2019 were recorded and streamed live from Lisbon on actuview. In addition to 36 submitted presentations on many different areas of actuarial practice, the congress program, held under the overall theme “Actuary 2020 – A profession on the move”, includes four high-ranking plenary sessions.
- Living on the Edge – 21 Years on - Paul Embrechts, Professor em of Insurance & Mathematics at the ETH Zurich
- Insurance in the 2020s: The Potential Impact of Technological and Medical Advances on the Industry - Jan-Hendrik Erasmus, CRO NN Group/Chairman CRO Forum
- European Supervision in a Changing Environment - Gabriel Bernardino, Chairman of the European Insurance and Occupational Pensions Authority
- Insights into IFRS 17 Insurance Contracts - Darrel Scott, Board Member of the International Accounting Standards Board
Additionally, due to the very successful Call for Papers, actuview also features nine exclusively produced online sessions as part of the ECA 2019 program.
About the AAE
The Actuarial Association of Europe (AAE) was established in 1978 under the name Groupe Consultatif to represent actuarial associations in Europe. Its purpose is to provide advice and opinions to the various organisations of the European Union – the Commission, the Council of Ministers, the European Parliament, EIOPA and their various committees – on actuarial issues in European legislation. The AAE currently has 36 member associations in 35 European countries, representing over 25,000 actuaries. Advice and comments provided by the AAE on behalf of the European actuarial profession are totally independent of industry interests. More information...
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ECA 2019 presentations now online
Added 0 2,193 ViewsAll videos can be found here.
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Mitigating the global pension crisis: A compilation of actuarial innovative ideas
Added 0 447 ViewsDemographic changes and financial burdens have stressed public and private pension systems. Different reforms have been implemented around the world. These reforms may include or combine standard levers such as deferring retirement age, increasing contrib
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Measuring adequacy and facing longevity risk in social security
Added 1 433 ViewsLabour markets are undergoing major transformations mostly due to ageing population. Actuaries can play a fundamental role to ensure that social security systems continue to meet their objectives of adequacy of benefits and financing constraints. Adequacy
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Italian disabled workers' survival: The variables that affect the phenomenon
Added 0 412 ViewsOver the last years, labour markets are quickly changing due to ageing population, technological innovations and arising of new professions. In this evolving context, how can we manage “longevity risk� Is survival always i
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What do the Actuaries of the Future Think Actuaries Could Be Doing in the Future
Added 0 480 ViewsThe research used actuarial techniques and historical commodity price data to synthetically create new historical investment return data going back 200-750 years - mostly based on data from the US, England and the EU. The research produced a surprising re
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What are the knowledge and skill requirements for actuaries?
Added 0 411 ViewsWhat are the knowledge and skill requirements for actuaries? What are functions and professional roles that are requested due to recent developments like digital transformation? These questions are examined by analyzing job advertisements in Germany, Aust
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Guarantees in Germany: Where are we and does it make sense?
Added 0 510 ViewsThe german life insurance market was for a long time dominated by endowment and annuity products with profit participation. For the classical business interest rates, mortality/morbidity assumptions as well as expence loadings are guaranteed. Guarantees o
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Predicting disability pensions with machine learning classification models
Added 0 644 ViewsDuring the spring of 2018, the Finnish Centre for Pensions made a small-scale proof-of-concept (poc) machine learning test to classify imminent disability pensions among the working age population of Finland. We made the classification to predict disabili
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Insights to IFRS 17 Insurance Contracts
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Non life pricing procedure on encrypted and anonymous data
Added 1 417 ViewsThe recent increase in the amount of data generated, stored and analyzed by insurers to establish their pricing and underwriting policies has led to the emergence of new needs. Both from a regulatory point of view, with the recent implementation in the Eu
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Elements of narrow artificial intelligence in reserving
Added 1 588 ViewsReserving is one of the core businesses of the actuarial profession. For insurance companies, it represents major strategic and economic challenges and its practice is subject to ever more advanced developments. Standard claims reserves valuation techniqu
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IFRS 17 and actuaries - Does that square?
Added 1 824 ViewsThe new standard on IFRS 17 was introduced with a fanfare and with good intentions. A harmonized more transparent reporting for insurance companies which investors can understand. That sounds to good to be true. And it is. Living up to these expectations
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Strategy and Governance of AAE
Added 0 367 ViewsThe aim of the presentation is to update the congres participants with the last elements from the strategy of AAE. Strategic Objective 1: Enhance relations with European institutions : Establish and maintain relationships with key European institutions, s
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Teaching life insurance mathematics and technique: Does “tradition” comply with current scenarios?
Added 0 403 ViewsTraditional life insurance mathematics provides a plentiful toolkit for actuarial calculations. Nevertheless, significant weaknesses appear when relating classical approaches to current needs, which emerge from a continuously moving scenario. First, the e
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Actuarial news (good and bad!): Do’s and don’ts in your communication
Added 1 585 ViewsThe basic idea behind this presentation relates to the topic of “actuary 2020†which we believe is someone who is equally strong in calculating and communicating. Communicating your arguments, findings and results to non-ac
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The AAE’s Bright(er) Future: A Diversity-based Approach
Added 0 958 ViewsIn an attempt to support a certain diversity, I would like to offer an alternative vision to the technical and formula-based actuarial papers and propose a broader reflection based on the motto “In varietate concordiaâ€. Thi
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European Supervision in a Changing Environment
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Legal and political recognition: Fundamentals for the profession
Added 0 355 ViewsThe legal position of the actuary and of the actuarial profession is different throughout Europe. A clear view on the diverging and converging aspects is not available which is what is experienced as a deficiency during exchanges with European Institution
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MRM and the Actuarial Function in the Insurance Industry
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CERA for Actuaries in Europe
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IFRS 17 for Non-Life (Re-)Insurance
Added 3 1,120 ViewsIn the presentation, I will give an overview of topics that need to be considered for for non-life (re-)insurance companies. In particular, the presentation will cover the following topics: - Brief introduction of the Building Block Approach (BBA) and the
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Transition under IFRS 17
Added 0 587 ViewsIFRS 17 provides for existing insurance liabilities three methods to do the transition to this new accounting standard: a retrospective approach, a modified retrospective approach and a fair value approach. In an extensive case study by EFRAG, 30% of resp
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Approaches to evaluate Risk Adjustment under IFRS 17
Added 0 901 ViewsKACEM Hamdi (author), Actuary IA, Method and Innovation Department Group, Technical Direction at CNP Assurances, hamdi.kacem@cnp.fr - OLYMPIO Anani (co-author), Certified Actuary and ERM CERA, head of Method and Innovation Department Group Technical Direc
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Are Actuaries Independent Guardians of Financial Security or Just Telling a Convenient Tale?
Added 2 1,183 ViewsWe look at the actuarial role from a behavioural point of view, taking into account evidence from psychology and sociology. Actuaries are technical experts who should have a high degree of independence, but nevertheless belong to and depend on various soc
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The role of the actuary in the independent actuarial advice in Spain
Added 0 425 ViewsIn Spain, the actuarial profession - actuary - is a regulated profession and has a reserve of activity and it’s a protected title. This legal regime is recognized by the European Union [see: http://ec.europa.eu/growth/tools-databases/re
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Defining risk-differentiating variables: New approach of health insurance pricing methods
Added 0 355 ViewsThe increase in healthcare costs is one of the most important global problems, with a strong impact on the insurance industry, and in particular in the health sector, since by definition the insurer receives from its clients in advance an amount of premiu
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Creating proportionate Economic Scenario Generators
Added 0 386 ViewsSolvency II has strengthened the need for insurers of all sizes to determine market consistent valuations for guarantees given to policyholders. The standard approach to valuing policyholder guarantees involves the use of an economic scenario generator, i
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To guarantee or not to guarantee – Challenges in critical illness insurance
Added 1 473 ViewsIf people are affected by a serious disease such as cancer, they often need a protection of their income or financial support to cover the cost of state of the art treatment. For these cases, Critical Illness (CI) insurance with its prompt lump sum paymen
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Mortality of elite athletes: An application to football players
Added 0 364 ViewsThe health benefits of moderate regular physical activity have been clearly demonstrated and are widely consensual. However, there is a growing debate over the potential adverse effects of strenuous physical activity, particularly at a professional level.
