Events:
Last Opportunity to Join this Outstanding Event in Barcelona, Spain!
REGISTER HERE!
Join us at the Colloquium “Long-Term Saving in an Ageing World”, run under the auspices of the International Actuarial Association — Life Section (IAALS) to be held in Barcelona, (Spain), 23 and 24 October 2017 and organized by the Col•legi d’Actuaris de Catalunya, (Catalan Actuaries Association).
The seemingly unstoppable growth in human life expectancy, which coupled with the current state of health and social services, has led to a remarkable rise in longevity right across the face of the Earth.
While this may be great news for mankind, it nevertheless lays down a major challenge to both private and public pension schemes, the life insurance industry as a whole and therefore the actuarial profession itself.
We are privileged to feature the participation of subject specialists, who will share their wisdom and insight on the theme: Dr. Nicholas Barr, Professor at the London School of Economics, Dr. Stéphane Loisel, Professor at the University of Lyon and Dr. Jens Perch Nielsen, Professor of Actuarial Science at City University London.
The Colloquium will provide participants unfamiliar with the city with an ideal opportunity to get to know Barcelona, now one of the world’s most visited metropolis, with its outstanding, cultural, leisure and gastronomic delights.
For more information on this amazing event, please visit http://www.actuaries.org/barcelona2017
Webinars:
IACA Webinar: The Role of Actuaries in Public Policy
Please note: This is a FREE webinar
October 24, 2017 from 10:00am – 11:30am EDT
Hosted by the International Association of Consulting Actuaries (IACA) and the IAA Public Policy Task Force, this webinar will examine the meaning of public policy as it relates to the actuarial profession.
The webinar will feature examples of recent involvement by actuaries in the development and implementation of public policy, and will seek to identify potential target audiences.
Goals of the profession and its current image and desired image will be put under the spotlight.
The webinar will also address the challenges for actuaries striving to make an impact in the development of public policy.
Please join us for this webinar with an international panel, and an international audience!
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Joint IAAHS/AAA Webinar: End-of-Life Care in an Aging World
November 10, 2017 from 11:00am – 12:00pm EDT
End-of-life care is a challenging issue, but it is critical that the impact of changing demographics on health care systems is understood in the context of complex financial, social, public health, cultural, and ethical constraints. Using examples from Japan, the United States, the United Kingdom, China, Israel, India, and the Netherlands, this webinar will explore the increased health care costs of global aging, quality of life during the end-of-life period, palliative versus curative care, and stakeholder strategies for addressing the unique health care challenges at the end of life.
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IACA/PBSS Webinar: Valuation of Bermudan-DB-Underpin Option
November 17, 2017 from 9:00am – 10:15am EDT
The study of embedded options has grown importance in pension design, with many novel forms of hybrid plan being proposed to meet the needs of employees and sponsors. In 2002, the State of Florida introduced (temporarily) a switching hybrid plan, under which employees were given the option to convert their defined contribution (DC) plans to defined benefit (DB) plans. The cost of such a switch is calculated in terms of the accumulated benefit obligation (ABO), which is the present value of the accrued benefit. If the ABO is greater than the DC account, the employee is assumed to fund the difference. In this work we reconsider the switching hybrid plan, with additional downside protection for the employees. The new option is similar to the DB- Underpin hybrid design, also knowns as the floor-offset plan, but with a Bermudan-style exercise feature. We adopt an arbitrage-free pricing methodology to value the option, and specify the situation where early switch is not optimal.
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