Actuarial Concepts for Non-Actuaries

Submitted by Administrator on Wed, 02/01/2012 - 12:42pm

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What you will learn:

Participants in this seminar will develop an understanding of actuarial assumptions and the relationship between pricing and reported financial results for products issued by life and health insurers. In the process, they will also learn about reserves, deferred policy acquisition costs and other actuarial items in statutory and GAAP financial reports. This special-focus seminar illuminates what is going on in the actuarial "black box" with an emphasis on simple, conceptual understanding rather than on detailed calculations.

Seminar content:

  • Introduction to pricing and profitability
  • Role and use of actuarial assumptions
  • Traditional reserve concepts
  • Claim liabilities and reserves, including IBNR
  • GAAP and statutory treatment of acquisition costs
  • Profit emergence under statutory and GAAP
  • Actuarial items in the statutory Annual Statement and in GAAP financial statements
  • Illustration of pricing/profitability models and sensitivity testing
  • Introduction to asset/liability management and cash flow testing
  • Current developments affecting your actuaries

Recommended Field of Study: Accounting

Who Should Attend:

Accountants, financial specialists, executives, analysts and others who want a better understanding of key factors that drive the financial results of a life insurance company and how actuaries contribute to achieving those results.

Prerequisites:

Participants will find it helpful to have a understanding of the life insurance industry and its accounting and reporting, as provided, for example, by the Accounting and Financial Reporting, or Annual Statement Preparation Workshop seminars. No advance preparation is required for this intermediate level seminar.

Class Times:

Class begins at 8:30 a.m. and ends at 5:00 p.m. on the first day and at 3:00 p.m. on the second day.

Estimated CPE Credit: 14.0 hours

Tuition: $1495

Upcoming seminar dates and locations:

There are no upcoming dates for this seminar.
Look for our 2012 schedule in February/March.

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