2023 ASNY SPRING MEETING

The meeting will commence with a general professionalism session followed by breakout sessions. At the breakout sessions an accomplished group of industry leaders will present on a broad range of topics of interest including actuarial and IT partnerships, actuarial governance, and evolving regulations.

SCHEDULE

12:30 - 1:15 pm:  Registration

1:15 - 1:25 pm:  Opening Remarks
                Alex Potocki | ASNY VP of Meetings

1:25 - 3:05 pm:  General Sessions

The ASOP Advantage
Cande Olsen | MAAA, FSA, CLU
This session will provide a brief overview of the professionalism infrastructure housed in the American Academy of Actuaries, followed by highlights of the key actuarial standards of practice (ASOPs) that affect actuaries in every practice area, and insights into the “ASOP Advantage”—the many, perhaps-unexpected ways that ASOPs can benefit actuaries and be “allies” in our daily work and professional lives. The session begins with a review of the role and purpose of the Code of Professional Conduct, the U.S. Qualification Standards, the Actuarial Board for Counseling and Discipline, and the Actuarial Standards Board.  Woven through the presentation will be several discussion questions that members of the audience will have an opportunity to weigh in on.

TBA

3:30 - 4:20 pm:  Breakout Session 1

Actuarial Process Optimization
Julia Giacomazzi | KPMG
Konrad Skomial | KPMG
Innovation in technology has disrupted nearly every industry, creating mounting internal and external pressures on organizations to accelerate the adoption of their digital agendas. The COVID-19 pandemic further brought to light the need for tools and technology to be adaptable, powerful, and scalable. As the insurance industry leaps into the future, actuaries must not only proactively refine their roles and responsibilities within insurance organizations but also seek opportunities for improvements and optimization in their day-to-day work. Discuss a variety of opportunities to streamline, accelerate, and optimize actuarial processes by using modern technology. Cover a wide spectrum of actuarial solutions from automation of actuarial data transformation to actuarial reserve calculations and calibration of economic scenarios. By attending the session, you will: Be able to articulate how modern low-code/no-code technology can help actuaries automate, streamline and optimize processes in your day to day work to help focus on higher value tasks

Adjusted (non-GAAP) earnings under LDTI
Maya Perelman | EY
Ben Hanley | EY
Paul San Valentin | EY
Adjusted earnings has long been a fundamental KPI for investors to assess the core financial performance of a company. As a non-GAAP measure, there is a divergence in practice of how individual companies define adjusted earnings and what activities management views as “core” to their business. The arrival of US GAAP LDTI has led insurers to revisit their existing adjusted earnings framework as the new standard introduces additional “accounting noise” that if left unadjusted obscures the true underlying drivers of performance. This presentation will provide key insights on the influence US GAAP LDTI has had to the adjusted earnings calculation, highlight changes from the pre-LDTI framework, and showcase key themes observed from public insurers 2023Q1 10-Q filings

The Hype Around Generative AI and ChatGPT - What is the Future for Actuaries?
Arthur da Silva | Slope
Advances in AI, particularly in the field of Generative AI and Large Language Models, such as GPT-4, have made massive waves this year due to their potential to fundamentally change the way people work. This presentation explores how such tools, including ChatGPT, might be used in actuarial work as well as implications for the actuarial profession.

4:40 - 5:30 pm:  Breakout Session 2

Mergers and Acquisitions
Dylan Strother | Oliver Wyman
Rashmika Jayakody | Oliver Wyman
Mergers and acquisitions are dominating headlines across the insurance industry for a number of reasons. This session will open with an introduction to M&A to layout the basics, following with a deep dive into the active market. You’ll have the opportunity to hear from two actuaries discuss their experience across a number of transactions and fields.

Maximize the Value of Your Inforce Portfolio
Amanda Hug | Willis Towers Watson
Many companies have “distressed” or non-core blocks of business that are a drag on earnings, return on capital, and/or internal resources. With the pressures of today's marketplace, companies are seeking efficient strategies for dealing with such business. There are a myriad of levers companies can and should consider to remedy an underperforming block of business, including but not limited to:• New sales through cross-selling and up-selling• Improved operational efficiency through co-sourcing or outsourcing• Proactive customer retention efforts informed by analytics and behavioral economics• Active management of NGEs• Risk transfer through reinsurance/divestment options This session will provide a high-level primer on the options available to companies with select deeper dives via case studies from actual implementations

5:30 - 7:00 pm:  Networking Cocktail Reception

PAYMENT

If you would like to pay by credit card online, please register online.  If you have been a past member, but have not yet paid dues for this year, membership dues must be paid first before you will receive the reduced cost for this event.

If you are paying for a group of individuals, please use the form and include a listing of all individuals being included in the payment to ensure proper tracking.  The list should include First Name, Last Name, Email, and Company.

If you have any questions, please use the Contact ASNY page and select Subject option 5, "ASNY Annual Meeting".

Cancellation Policy

• Cancellation of any individual's event registration must be made two (2) weeks or more prior to an event to be eligible for a refund. All requests are subject to $50 service fee to cover administration costs and email must be received prior to the two week deadline. Cancellations made after the two week deadline will not be honored, however, all individuals are allowed to transfer their registration at any time to another individual at their organization at no cost by sending an email to ASNY representatives at the email below. Any transfer should be communicated to ASNY as soon as it is known. 
• ASNY reserves the right to cancel any program if conditions warrant. In the rare event of such cancellation, registration fees will be refunded in full. We are not responsible for any discounted airfares or hotel penalties that an attendee may incur due to cancellation.

Presentations will be uploaded at the bottom of the page as they are received from presenters.

Adjusted (non-GAAP) earnings under LDTI