Newsletter on EAA Web Sessions - Benefit from EAA's Early Bird rates in April and May 2023

gestionale News 01 Marzo 2023 Visite: 91

Newsletter on EAA Web Sessions - Benefit from our Early Bird Rates

Book now and save money!

Benefit from discounts for many EAA web sessions taking place in April and May 2023 with early bird rates in March 2023. These online trainings cover topics such as

Non-Life Pricing Using Machine Learning Techniques with R Applications,
Covid-19: Impact on Disability Insurance Business,
Comparing IFRS17 and Solvency II,
Data Science and Data Ethics,
Understanding IFRS 17,
IFRS 17: Guidance for Risk Adjustments and
Open Source Tools R & Python.

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

Web Session: "Non-Life Pricing Using Machine Learning Techniques with R Applications" on 17-20 April 2023, 9:00-12:30 CEST

Non-Life insurance is facing many challenges ranging from fierce competition on the market or evolution in the distribution channel used by the consumers to evolution of the regulatory environment.
Pricing is the central link between solvency, profitability and market shares (volume). Improving pricing practice encompasses several dimensions:

Technical: is our pricing adequate to cover the underlying cost of risk of my policyholders and the other costs we are facing? Which are the key variables driving the risk? Are they adequately taken into account in our pricing? What’s the impact of the claims history of my policyholder on its expected risk? In which segment are we profitable and in which are we not profitable?
Competition: at what price will we attract the segments that we target and price out those that we do not want? Is the positioning of our competitors influencing our pricing practice and our profitability? What’s my position with respect to my competitors in term of pricing? What are the segments in which I am well positioned and the segments where I am not well positioned?
Elasticity: what price (evolution) are our existing customers prepared to accept? Does the sensitivity to price evolution depend on the profile of my customer?
Segmentation: is our segmentation granular enough for our purposes?

The aim of this web session is to present some advanced actuarial/statistical techniques used in non-life pricing, competition analysis and profitability analysis. The web session focuses on some practical problems faced by pricing actuaries and product managers and presents some new techniques used in non-life pricing in order to open new perspectives for product development (competition analysis, profitability analysis,…).
Your early-bird registration fee is € 650.00 plus 19% VAT until 6 March 2023. After this date, the fee will be € 845.00 plus 19% VAT.
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Web Session: "The Aftermath of Covid-19: Impact on Disability Insurance Business" on 21 April 2023,
10:00-12:00 CEST

More than three years into the pandemic, uncertainties still remain about the ongoing and long-term impact on health caused by the Covid-19 infection and the pandemic situation. This includes sequelae of the acute infection such as "Long Covid" as well as cardiovascular risks (e.g., heart attacks and strokes), but also indirect effects such as disrupted medical care (e.g., delayed cancer treatments) as well as deteriorated mental and metabolic health. These and other mechanisms may already have impacted morbidity (and may do so in the future) and may therefore affect the disability insurance business.
This online training aims to give an understanding of the impact of Covid-19 on morbidity and disability insurance business. The above-mentioned aspects including "Long Covid" are explained, and the impact on disability business is analysed based on experience of Swiss Re from several countries with focus on the differential impact on short- and long-term disability products.
Your early-bird registration fee is € 100.00 plus 19% VAT until 10 March 2023. After this date, the fee will be € 140.00 plus 19% VAT.
further details

Web Session: "Comparing IFRS17 and Solvency II" on 25 April 2023, 10:00-12:00 CEST

This session aims at describing the similarities and differences between the financial and prudential frameworks applicable to insurers. After a general overview, we will focus on discount rates and risk margin/risk adjustment. A case study will then illustrate the application of those concepts to an insurance portfolio.
The purpose is to understand the key differences between IFRS17 and Solvency II and their impact when valuating an insurance contract. This will also allow users of financial and prudential information to get a better understanding of the figures depending on the methodology used.
Your early-bird registration fee is € 100.00 plus 19% VAT until 14 March 2023. After this date, the fee will be € 140.00 plus 19% VAT.
further details

Web Session: "Understanding IFRS 17" on 2/3 May 2023, 9:00-16:20 CEST

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 21 March 2023. After this date, the fee will be € 780.00 plus 19% VAT.
further details

Web Session: "IFRS 17: Guidance for Risk Adjustments" on 5 May 2023, 9:00-12:15 CEST

IFRS 17 requires that risks inherent in the cash flows of the insurance contracts are considered in measurement, differentiating between financial risks and non-financial risks. While the financial risks are measured at their current (estimated) market value, non-financial risks are measured at “the compensation that the entity requires for bearing the uncertainty about the amount and timing of the cash flows that arises from non-financial risk”.
Identifying the uncertainties, for both amount and timing, factors influencing the uncertainties like random deviations or changes of risk over time and differentiating between financial and non-financial risk for quantifying the risk and identifying the entity-specific risk aversion for associating a value to the estimated quantity of risk demands a deep understanding of the concepts of IFRS 17.
The web session will explain the objective and guidance of IFRS 17 regarding the measurement of risk arising from insurance contracts and presentation and disclosure issues. The session will not discuss technical issues of estimating distribution functions or applying risk adjustment techniques, i.e. it is as well suitable for accountants intending to enhance their understanding of the guidance for risk adjustments.
Your early-bird registration fee is € 150.00 plus 19% VAT until 24 March 2023. After this date, the fee will be € 205.00 plus 19% VAT.
further details

Web Session: "Open Source Tools R & Python: Extending the Toolbox of the Actuary" on 11/12 May 2023, 9:00-17:00 CEST

The goal of this two-day training is to introduce the participants to both open source ecosystems and to get a good understanding of both languages. However, since both ecosystems are way too vast to be covered in merely two days, the participants will be asked to go through the basics of both languages themselves, prior to the web session. During the first three hours of the web session, these basics which will be shortly revised, but at a higher pace. The course material, containing the basics of both languages, will be provided by the organizers several weeks before the beginning of the web session, such that the participants will have plenty of time to go through the material at her/his ease.
As such, less time needs to be spent on the basic elements of both languages, hereby enabling us to organize a three-hour hands-on exercise session to more easily assimilate the course material. Note that the participants need to bring along a laptop on which both R and Python are installed. Instructions on how to do so, will be provided by the organizers at the same moment as the course material of R and Python basics, hence several weeks in advance.
As a result, a jump start on how to truly use these languages in practice will be provided to the participants, by focusing on solutions for problems that they will surely regularly encounter in their day-to-day job, by handing over lots of links to online resources and a very rich course material and by even organizing hands-on exercise sessions.
Your early-bird registration fee is € 600.00 plus 19% VAT until 30 March 2023. After this date, the fee will be € 780.00 plus 19% VAT.
further details

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