Ordine Attuari

Leggi il contenuto della pagina | Accesso Rapido | Contatti

 
 

L'Attuario

Albo, esame, oggetto della professione

Area Riservata

Accedi all'area riservata agli iscritti

Offerte di lavoro

Solo per iscritti, segui le offerte

Newsletter on EAA Websessions in May 2022

 

­

­

­

­

EAA Websessions in the second half of May 2022

­

­

­

­


+++ Machine Learning +++ Cyber Risk +++ IFRS 17 +++

­

­

­

­

After our third e-Conference on Data Science & Data Ethics on 12 May we will offer several web sessions on three up-to-date topics in the second half of May:

­

­

­

­

­

­

­

­

+++ Cyber Risk +++
Web Session "Actuarial Modeling for Cyber Risk" on 17 & 24 May 2022
With the rise of digital economy, cyber risk has become a major concern for all customer segments. Although the development of "physical" protection strategies against cyber attacks is fundamental, no protection is perfect and insurers are intended to play a crucial role in providing financial protection. The cyber-insurance market is increasingly developing but with important uncertainties on the real value of the guarantees, due to the nature of the risk itself. The emerging and evolving nature of cyber-risk and its potential systemic component make it one of the most important social and economic risks, and questions its insurability.
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.
further details

+++ Machine Learning +++:
Web Session "Recent Actuarial Machine Learning Applications: An Overview" on 31 May 2022
Parallel to the very dynamic development of machine learning methods in the recent years, the number of applications of the "learning from data" paradigm in the actuarial area has been steadily increasing. In this web session we plan to present the latest implementations of the machine learning methods - primarily decision tree based models and neural networks - for finding innovative solutions for the old actuarial problems.
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.
further details

+++ IFRS 17 +++
Web Session "IFRS 17: A Deep Dive Into Revenue from Insurance Contracts" on 18 May 2022
IFRS 17 will become effective on January 1 2023 and it represents a step change for all entities that are required to apply its guidance.
The changes will not be limited to the measurement of contracts - including their presentation in the balance sheet - but also substantially change how insurers present their period performance in the statement of comprehensive income.
This web session takes a closer look on the "top line" item in the profit and loss account: insurance contract revenue. Depending on the nature of the business, insurance revenue may be very similar to the starting point for net income calculation according to current accounting regimes - or it may substantially differ. In either case, companies need to prepare for substantial changes to internal and external processes: Calculation of revenue, explanations to (and by!) internal and external stakeholders, and amended key performance indicators (KPIs).
This web session is an updated and extended version of the May 2021 web session on the same topic.
further details

Web Session "Understanding IFRS 17" on 19/20 May 2022
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.
further details

Web Session "IFRS 17: The Variable Fee Approach - Basics and Challenges" on 25 May & 1 June 2022
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.
further details

­

­

­

­

     
     
     
     
     
     
     
     
     

­

­

­

­

This is not what you are looking for? Maybe you will find the right session on our website.

­

­

­

­

­

­

­

­

­

­

­

actuarial-academy.com

­