Enterprise Risk Management for Health Insurers:  An Overview ,
                           or
Current Developments in Variable Annuity Risk Management
   (Revisions to this listing are in RED text)
Enterprise Risk Management for Health Insurers:  An Overview
Kara Clark, FSA, MAAA, will provide an overview of Enterprise Risk Management (ERM):  what it is and how it has evolved in the insurance industry.  She will also discuss various risks that may be part of an ERM framework for health insurance organizations.  Finally, she will cover the implications for the actuarial profession and how individual actuaries can start to think about ERM within the context of their own organizations and roles. The presentation includes a video clip from an interview with Prakash Shimpi, FSA, on CNN discussing the Chief Risk Officer position.
Kara Clark, Staff Fellow – Health Benefit Systems, SOA

Current Developments in Variable Annuity Risk Management
Leong Chew and Peter Sun will review the state-of-the-art for risk management of variable annuities.  Leading VA writers have adopted sophisticated hedging techniques to manage the market risk associated with VA guarantees.  There has also been an increased focus on developing innovative products that combine flexibility with guarantees to meet Baby Boomer needs.  Thus, hedging strategy has become an important part of the product development process.  We will review this development and provide an overview of industry practices.
Leong Seng Chew, ASA , Actuarial Analyst, Milliman, Inc

Peter Sun, FSA, MAAA, Consulting Actuary, Milliman, Inc

These sessions will take place simultaneously.  Please indicate which of these two sessions you will attend.  Following the presentations, all attendees are invited to join us for hors d’oeuvres.

NEW Location: 
     Blue Cross & Blue Shield of IL, CAL Level – Rooms 5 & 6
     300 E. Randolph St., Chicago, IL 60601
     (Northeast corner of Columbus & Randolph, across from the Aon building)