- Institut canadien des actuaires

Transcription

- Institut canadien des actuaires
2012-2013 Canadian Institute
of Actuaries Board
President
President-elect
Immediate Past President
Secretary-Treasurer
Directors
Simon Curtis FCIA, FSA
Jacques Lafrance FCIA, FSA
James Christie FCIA, FCAS
Martin Roy FCIA, FSA
Stephen Bonnar FCIA, FSA
Sylvie Charest FCIA, FSA
William Chinery FCIA, FSA
Claude Ferguson FCIA, FSA
Jacqueline Friedland FCIA, FCAS, MAAA
Sharon Giffen FCIA, FSA, MAAA
Michel Giguère FCIA, FSA
Joseph Nunes FCIA, FSA
Jean-Yves Rioux FCIA, FSA, CERA
Michel St-Germain FCIA, FSA
Robert Stapleford FCIA, FSA
Christopher Townsend FCIA, FCAS
Council Chairs
Eligibility & Education Council
Jason Vary FCIA, FSA
Member Services Council
Marc-André Melançon FCIA, FSA
Practice Council
Bruce Langstroth FCIA, FSA
1
2013 CIA Annual Meeting
Message from the President
Welcome to the 2013 Annual Meeting.
I am delighted you have joined us in Montréal for this year’s meeting.
The organizers have put together a great program of sessions and activities.
In addition to the opportunity to attend topical and interesting professional
development sessions, the meeting provides a unique chance for you to
interact with your colleagues and share ideas and experiences. It is through
all these experiences that we become better professionals.
I would encourage you to take full advantage of all these two days have
to offer, and I look forward to seeing you.
Simon Curtis
CIA President
Sponsors
Patron Level
Benefactor Level
www.cia-ica.ca
2
2012-2013
Committee on Continuing Education
Chair
Lynn Grenier-Lew FCIA, FSA
Vice-Chair
Deborah McMillan FCIA, FSA
Property & Casualty Insurance
Group Life & Health
Academic
Investment
General Business & Professionalism
Enterprise Risk Management
Nathalie Bégin FCIA, FCAS
Jeremy Bell FCIA, FSA
Claire Bilodeau ACIA, ASA
Patrick Chamberland FCIA, FSA
Chris Fievoli FCIA, FSA
Ashley Goorachurn FCIA, FSA
Individual Life & Health
Dominic Hains FCIA, FSA
Corporate Life & Health
Ralph Ovsec FCIA, FSA
Reinsurance
Mayur Shah FCIA, FSA
Pension
June Smyth FCIA, FSA
Pension
Heather Wolfe FCIA, FSA
Message from the 2013
Annual Meeting Chair
When the CIA selects a city for our Annual Meeting, we do our research. Aside
from world-class culture, Montréal has more than enough infrastructure to
keep us transported, fed, and sheltered:
•
Most taxis per capita in Canada (major cities);
•
Most restaurants per capita in Canada (major cities); and
•
15,200 hotel rooms.
On June 20–21, Montréal will also have the most actuaries per capita in
Canada (ignoring very small towns!). That is when the city will host the CIA’s Annual Meeting at the Hilton
Montréal Bonaventure. I encourage you to join me there. You will learn important information and make
valuable connections. Your attendance will also enhance the meeting for other participants; we would love
to hear what you are working on.
The Committee on Continuing Education and the CIA Head Office have done an excellent job organizing
sessions of interest to actuaries in all practice areas. Covering both technical and non-technical topics,
they will be relevant and useful in your work, and range from established areas of practice to areas on the
horizon.
I am excited about our keynote speaker, Eric Garland. His presentation, “Tales from the Unexpected
Future”, will explore the limits of our predictive abilities. He is a veteran strategic analyst who has
performed forecasting for some of the biggest corporations and governments, from Coca-Cola to the
Principality of Monaco.
An exciting two days await you. Attendance and engagement by actuaries at the Annual Meeting makes us
better as professionals and a profession, so please consider taking part. I look forward to seeing you.
Jeremy Bell
Chair, 2013 CIA Annual Meeting
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2013 CIA Annual Meeting
General Information
Session Description Updates
As presenters are recruited, they may decide to change the wording of their sessions.
For updates, please check the program on the CIA website at:
http://www.cia-ica.ca/professional-development/meetings/2013-annual-meeting
Exhibit Hall/Internet Café
Be sure to visit the new Exhibit Hall and Internet café that will be set up in Fontaine B.
The hall will be open from 9 a.m. to 5:30 p.m. on Thursday and 9 a.m. to 12:30 p.m. on Friday.
Interpretation Devices
Some sessions, or portions of sessions, may be in French only or English only. Please remember
to pick up an interpretation device if you need one. A piece of ID is required as a deposit.
Suggested Attire
Respectable casual attire is suggested for the meeting. No jeans please.
New Fellows are expected to wear business attire for their presentation.
Presentation Material
The CIA will not be providing hard copies of presentation materials for sessions. The deadline for the
presenters to submit their presentations is June 14. All those received by then (including amended
materials) will be available at:
http://www.cia-ica.ca/professional-development/meetings/2013-annual-meeting
Presentations received after June 14 will be uploaded after the meeting.
Thank you to the 2013 Annual Meeting Speakers
The CIA wishes to thank the speakers of the 2013 Annual Meeting for the generous contribution of
their time and knowledge.
This year, in lieu of providing gifts to presenters, the CIA has made a donation to the Actuarial
Foundation of Canada in the equivalent amount on their behalf.
Schedule at a Glance
Thursday, June 20
TIME
DETAILS
ROOM
7:00 – 8:00
Hot Buffet Breakfast
Montréal Ballroom
7:45 – 9:00
Session 1 – General Business Session
Montréal Ballroom
9:15 – 10:30
Concurrent Sessions
Session 2 – CIA Update on Key Activities
Fontaine E
Session 3 – PPFRC Update
Fontaine A
Session 4 – Climate Change Research
Fontaine F
Session 5 – Are Defined Benefit Medical/Dental Plans on the Road to
Extinction Like their Pension Cousins?
Fontaine G
Session 6 – Hedging Long-Term Insurance Risks
Salon Bonaventure
Session 7 – Update on the Changes to Exempt Test Rules
Fontaine CD
10:30 – 11:00 Networking Break and Trade Show Viewing Time
Fontaine B
11:00 – 12:15 Concurrent Sessions
Session 8 – CEO Panel: Sharing Ideas for Success
Fontaine CD
Session 9 – What is the Right “Retirement Age” for Canada?
Salon Bonaventure
Session 10 – Model Validation: Know Your Audience and Second Iteration
Fontaine F
Session 11 – Healthcare Funding For Developed and Developing Countries
Fontaine G
Session 12 – Advanced Business Analytics for Actuaries
Fontaine A
Session 13 – Hot Topics in Life Underwriting
Fontaine E
12:30 – 14:30 Luncheon & New Fellow Awards Ceremony with Keynote Speaker Eric Garland
14:45 – 16:00 Session 14 – Ethical Decision Making for Actuaries
Session 15 – ASB Notice of Intent: Update to Standards Relating to
Economic Reinvestment Assumptions
Montréal Ballroom
Fontaine GH
Fontaine CD
Session 16 – Latest Developments in Risk Appetite Frameworks
Fontaine E
Session 17 – Group Life and Disability Trends
Fontaine F
Session 18 – In the CIO Office: Economic Roundtable
Fontaine A
Session 19 – Results from the T10 Lapse Study
CANCELLED
16:00 – 16:15 Networking Break
16:15 – 17:30 Concurrent Sessions
Session 20 – High-Impact Communication
Fontaine GH
Session 21 – Mock Trial - Pension T. Actuary Takes the Stand!
Salon Bonaventure
Session 29 – Best Practices for Effective Stress Testing
Fontaine E
Session 23 – Group Insurance Debates
Session 24 – Risk Management Framework of Public Pension Plans
Fontaine F
Session 25 – Life and Living Benefits Products: The Perfect Union?
Fontaine A
17:30 – 19:30 Networking Reception
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Fontaine CD
Montréal Ballroom
2013 CIA Annual Meeting
Friday, June 21
TIME
7:00 – 7:45
7:45 – 9:00
9:15 – 10:30
Schedule at a Glance
DETAILS
Hot Buffet Breakfast
Session 26 – Plenary Session: Creating Opportunities through
Collaboration Between Academia and the
Actuarial Profession
Concurrent Sessions
Session 27 – Does Social Media Work?
Session 28 – Super-Size Me: Jumbo Pension Risk Transfer Deals
from Around the Globe
Session 22 – Risk Governance Roundtable
Session 30 – Using Actuarial Modelling to Unravel the Causes of
the Healthcare Costs Spiral
Session 31 – CLIFR: News and Views
Session 32 – What’s New in Mortality Research at the SOA
10:30 – 11:00 Networking Break and Trade Shows Viewing Time
11:00 – 12:15 Concurrent Sessions
Session 33 – Professionalism and Ethics
Session 34 – DC Plan Member Behavior - Key Information for
Better Design and Consulting
Session 35 – Individualized Risk Rating
Session 36 – Interest Rate Calibration
ROOM
Montréal Ballroom
Montréal Ballroom
Fontaine E
Salon Bonaventure
Fontaine F
Fontaine GH
Fontaine A
Fontaine CD
Fontaine B
Salon Bonaventure
Fontaine A
Fontaine F
Fontaine E
Session 37 – ORSA Implementation Challenges
Fontaine GH
Session 38 – Adjustable Products: Are We There Yet?
Fontaine CD
Luncheon including President’s Farewell Speech, Change of Office,
12:30 – 14:00 Volunteer Awards Ceremony, and Incoming President’s Address with
Marc-André Morel, Master of Ceremonies
Montréal Ballroom
14:15 – 15:30 Concurrent Sessions
Session 39 – Practice Committee Update: CRMCR, AEC, CIP
Session 40 – Shared Risk Plans—Case Studies
Session 41 – The Next Generation of the Minimum Capital Test (MCT)—
A Regulatory Capital Framework for the Canadian
P&C Insurance Industry
Session 42 – Fraud in Group Insurance
Session 43 – Equities in Insurance Companies’ Portfolios
Session 44 – Global Protection Product Sales Trends
www.cia-ica.ca
Fontaine E
Salon Bonaventure
Fontaine F
Fontaine GH
Fontaine A
Fontaine CD
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New Fellows
The Canadian Institute of Actuaries is proud to recognize the following people who have become Fellows
since the last meeting in June 2012:
Lise Anne Power Arbez
Edmond Assal
Sébastien Auclair
Jad Awada
Ling Bai
Mélanie Beauvais
Nicole Natasha Beckles
Andréanne Bergeron
Sébastien Bernard
Pascal Bernier
Pierre-Luc Bérubé
Sébastien Billette
Adam Allan Blake
Jonathan Bohm
Jonathan Bolduc
Michaël Bordeleau-Tassile
Dominic Bourbonnais
Jeff Edward Bradley
Ghislain Brault-Joubert
Gavin David Brown-Jowett
Crispina O. Caballero
Damon York Callas
Qian Cao
Stephanie Carrier
Navaz Alaudin Cassam
Ahwaz Aftab Chagani
Flora Po-Lam Chan
Jonathan Man-Chung Chan
Monica Ying Kwok Chan
Yan Lok Chan
Justine Chartrand
Irawati Chen
Ying Chen
Sarah Ashley Chevalier
Alix Chisholm
En-Ju Chou
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Jesse Chrumka
Eric Chuen Cheong
Alex Chi Ming Chung
Étienne Collard-Proulx
Steven Couture
Mylène Da Conceicao
Sarah Dagenais
Evan Dalgorf
Gabrielle D'Aoust
Lisa Dawn Denys
Patrick Douville
Jonathan Doyon
Chen (Will) Du
Philippe-Olivier Dumas
Laura Ann Doris Ens
Olivier Fafard
Laura Fazzari
Serena Filosa
Jean-François Fontaine
Isabelle Gagnon
Wenwen Gao
Xiaojun Gao
Stephane Genereux
Kristen Gervais-Andrade
Daniel Giovannone
Simon Girard
Adam Michael Granville
Hua Guan
Isabelle Guérin
Olivier Marc-André Guilbaud
Shameer Sadrudin Gulamani
Laura Hafeman
Hai Na Han
Aletta Elizabeth Havenga
Iris Ho
Nicholas Hsu
Christopher Hurlburt
Pierre-Alexandre Jalbert
Mark G. Jarvis
Nan Jiang
Yun-Suk Kang
Salim Shiraz Kassam
Ryan Kastner
Esther Keable-Préfontaine
Kristopher Andrew Kerwin
Jason Keyfitz
Alena Kharkavets
Andrea Nicole Kojlak
Nick A. Komissarov
Brendan Krohm
Alvin Chi Chung Kwong
Annick Lachance
Jessica Lafleur
Renaud Lafond Gingras
Caroline Lafortune
Jean-François Lalonde
Alex Choy-Ying Lam
Kathie Lantagne
Philippe Laplante
Alexandre Larose
Chun King Lee
Seung-Won (Sam) Lee
York Hon John Lee
Sébastien Lépine
Benoît Lessard
Jean-François Lessard
Krystel Lessard
Jennie Tsz Ip Leung
Rachel Lévesque
FeiXue Crystal Li
Joyce Chenk Chi Li
Ning Li
2013 CIA Annual Meeting
New Fellows
Sha Li
Ying (Daisy) Li
Suzanne Shuocao M. Liang
Eunice Xingfang Lim
Diane Kar Man Liu
Hua Liu
Adelina Lough
Martha Lukowicz
Xiangxiang Luo
Sanjay Mohan Mahboobani
Francois Mainguy
Jason James Malone
Catherine McElwain
Brett Albert Meade
Natasha Mehrani
Véronique Ménard
Nabil Merali
Nadia Michaud
Sarah Jean Miller
Félix Mill-Plourde
Mary Kai-Shan Mong
Jonathan Morin
Liza Marie Musni
Christian Nadeau-Alary
Jessica Catherine Newman
Stephen Nighswander-Rempel
Francesco Nudo
Jojy Oommen
Marie-Pier Otis
Catherine Pageau-Dufresne
Scott Christopher Palmer
Joannie Paquette
Audrey Anne Patry
Nadia Pelletier
Jonathan Petrin
Jonathan Poirier-Arbour
Louis-Philippe Pouliot
Guillaume Proulx-Cabana
Sophie Provencher
www.cia-ica.ca
Patrick Provost
Justin Pursaga
Hariram Pushparaj
Jesse Paul Resnick
Salman Attique Riyaz
Sébastien Rodrigue
Myriam Roux
Émilie Roy
Lydia Roy
David William Rutledge
Karan Sabharwal
Olivier Saindon Charest
Haris Farid Sardar
Paul Michael Savage
Eric Richard Schaefer
Lucian Gerard Schulte
Surender Sekhon
Andrei Serykh
David H. Sim
Dany Simard
Nisha Davi Singh
Jonathan Skan
Grzegorz Tomasz Skubisz
Brent George Smith
John Spencer
Annie Marie St-Jacques
Amanda Sydney
Simon Tam
Jennifer L. Tan
Khurram Tehseen
Shannon Michelle Tesluck
Dominic Théberge
Lijia Tian
Agnes Wing Yee To
Nancy Trépanier
Queenie Wing Kan Tsang
Nirmala Veerappen
Karl Veilleux
Maxime Veilleux
Jennifer Diane Verkaik
Pierre-Olivier Vincent
Bradley Michael Wallis
Huinian Wang
Jin Kui Wang
Rina Meng-Jie Wang
Andrew James Whale
Carol Wong
Margaret Wu
Si Xie
Gang Richard Xu
Jingjing Xu
Ping Xu
Sally Xu
Yun Xu
Joanne Yammine
David Yang
Min Yang
Xia Yang
Salina Long Hang Young
Arthur Kin Shu Yuen
Henry Yuen
Alice Chan Zhang
Jian Zhang
Rui Zhang
Jessie Risong Zheng
Xiaotong Zhu
Wendi Zou
8
Keynote Speaker
ERIC GARLAND
Keynote Speaker, Thursday, June 20
Eric Garland is a writer who deals with the megatrends that affect society,
economics, and national security, with a special focus on what everyday people
must do in a rapidly changing world.
He writes based on his 15 years (and counting) of working in competitive
intelligence, strategic analysis, and futurism for executives in corporations and
governments. He is constantly considering how leaders of organizations think about the future, the
information they need to plan their next move, the tools they use to inspire the imaginations of others, and
the difficulties they encounter along the way.
Mr. Garland’s point of view is informed by consulting with executives at corporations and government
agencies on what to do about future trends. His clients were a variety of major organizations, ranging
from Siemens, Energizer, Coca-Cola, and Cardinal Health to the governments of France, South Dakota,
Charlotte (North Carolina), and the Principality of Monaco.
He is the author of two books that deal with future trends and how leaders understand them to make the
decisions that affect the whole world:
•
Future Inc: How Businesses Can Anticipate and Profit from What’s NEXT (Amacom, 2007) is the first
book of its kind, telling the reader exactly how to execute a professional-level study of future trends,
based on the techniques pioneered by the Rand Corporation, the U.S. Department of Defense, the
Shell scenarios group, and others.
•
How to Predict the Future…and What To Do About It So You WIN!!! is a satirical look at why foresight is
so difficult in modern business culture. In it, Mr. Garland skewers modern business publishing and its
desire for easy answers, shallow father figures, and a slavish devotion to fads
as a replacement for wisdom, insight, and decisive action about our collective futures. He uses
sarcastic humor to critique the relationship between futurists and corporate executives.
He is currently a freelance writer and speaker, contributing to a variety of online and print publications
and providing commentary on world events to broadcasters such as Al Jazeera English, Russia Today, the
History Channel, and the BBC.
He is also working on a third book about what he calls “the Transition”, the strategic trends that are likely
to make the twenty-first century much different from the twentieth—stay tuned!
Mr. Garland, who speaks a variety of languages, is also a professional musician with over 20 years’
experience playing live and recording in genres ranging from salsa to celtic and jazz funk.
For more than a decade, he has been speaking to audiences about the chaotic transformations going on in
the world, and relishes the opportunity to keep people focused on positive outcomes.
9
2013 CIA Annual Meeting
Master of Ceremonies
MARC-ANDRÉ MOREL
Master of Ceremonies, June 20-21
Marc-André Morel is a rising star among North America’s public speakers
who has delivered over 1,000 inspirational, educational, and entertaining
sessions to English and French corporate audiences across Canada, the
U.S., and Europe.
A past president of the Montréal chapter of the Canadian Association of
Professional Speakers, he delivered his first motivational keynote speech at
the age of 15 to 1,200 people. After earning a degree in commerce from Concordia University, he
accumulated several coveted corporate sales and leadership awards, including the Multiple Sclerosis
Society of Canada’s Leadership Award for his professional excellence and outstanding community
contribution.
Dedicated to make a difference for adults and young people, he is the founder of the Morel Leadership
Centre for Youth. His own personal and inspiring story is featured in the acclaimed Chicken Soup for the
Canadian Soul, and he is the bestselling author of French versions of The Fifth Season: Manifesting Your
Destiny with Simplicity and Energy for Life: Finding and Keeping Motivation at the Gym.
www.cia-ica.ca
10
Guest Speakers
Maciej Augustyniak
PhD student
Université de Montréal
Session 6 – Hedging Long-Term Insurance Risks
Antoine Aylwin
partner
Fasken Martineau DuMoulin
Session 21 – Mock Trial - Pension T. Actuary Takes the
Stand!
Claude Bergeron
chief risk officer
Caisse de dépôt et placement du Québec
Session 24 – Risk Management Framework
of Public Pension Plans
Mike Boot
managing director of sections and practice advancement
SOA
Session 12 – Advanced Business Analytics for Actuaries
Jocelyn Grira
senior manager advisory services and risk consulting
KPMG
Session 29 – Best Practices for Effective Stress Testing
Tom Ground
head of bulk purchase annuities and longevity insurance
Legal & General, London, UK
Session 28 – Super-Size Me: Jumbo Pension Risk
Transfer Deals from Around the Globe
Jo-Ann Jolliffe
vice-president, underwriting
Aurigen Reinsurance
Session 13 – Hot Topics in Life Underwriting
Scott Campion
principal, Americas insurance practice
Oliver Wyman, New York
Session 28 – Super-Size Me: Jumbo Pension Risk
Transfer Deals from Around the Globe
André Lacroix
professor, philosophy and applied ethics department
Université de Sherbrooke
Session 33 – Professionalism and Ethics
Donald Chu
director of financial institutions ratings
Standard & Poor’s
Session 22 – Risk Governance Roundtable
The Honourable Louis-Philippe Landry
retired Superior Court Judge (Québec)
Session 21 – Mock Trial - Pension T. Actuary
Takes the Stand!
The Honourable Pierre J. Dalphond
judge
Appeal Court of Québec
Session 33 – Professionalism and Ethics
Marc Lévesque
vice-president, economics and market strategy
PSP
Session 18 – In the CIO Office: Economic Roundtable
Jean-Marc Fix
vice-president of research and development
Optimum Réassurance
Session 32 – What’s New in Mortality Research
at the SOA
David Long
senior vice-president and chief investment officer,
asset liability management, derivatives and fixed income
Healthcare of Ontario Pension Plan
Session 24 – Risk Management Framework
of Public Pension Plans
Clément Gignac
senior vice-president and chief economist
Industrial Alliance
Session 18 – In the CIO Office: Economic Roundtable
11
Saskia Goedhart
partner
Ernst & Young
Session 16 – Latest Developments in Risk Appetite
Frameworks
Session 22 – Risk Governance Roundtable
Deana Maric
manager, investigative services
Sun Life
Session 42 – Fraud in Group Insurance
2013 CIA Annual Meeting
Guest Speakers
Angela Mazerolle Stephens
superintendent of pensions
New Brunswick
Session 40 – Shared Risk Plans—Case Studies
Susan Meltzer
vice-president of enterprise risk management
Aviva Canada
Session 16 – Latest Developments in Risk
Appetite Frameworks
David Miller
president
Business Growth Strategies
Session 20 – High-Impact Communication
John Moore
vice-president of business development
Johnston Group
Session 5 – Are Defined Benefit Medical/Dental Plans
on the Road to Extinction Like their Pension Cousins?
Érik Morissette
partner
Fasken Martineau DuMoulin
Session 21 – Mock Trial - Pension T. Actuary
Takes the Stand!
Hakim Nouira
senior manager
Ernst & Young
Session 37 – ORSA Implementation Challenges
Joseph Peter
vice-president of finance, Canadian operations
Sun Life
Session 42 – Fraud in Group Insurance
Kevin Pledge
chief executive officer and co-founder
Insight Decision Solutions
Session 12 – Advanced Business Analytics for Actuaries
Session 27 – Does Social Media Work?
Robert Profumo
medical director
Aurigen Reinsurance
Session 13 – Hot Topics in Life Underwriting
www.cia-ica.ca
Judith Roberge
director
P&C insurance capital, Office of the Superintendent
of Financial Institutions
Session 41 – The Next Generation of the Minimum
Capital Test (MCT)—A Regulatory Capital Framework
for the Canadian P&C Insurance Industry
Stéphane Rochon
vice-president, sales and marketing
Humania Assurance
Session 38 – Adjustable Products: Are We There Yet?
Robert Sanche
assistant vice-president, research & development
Travelers
Session 10 – Model Validation: Know Your Audience
and Second Iteration
Ron Sanderson
director, policyholder taxation and pensions
Canadian Life and Health Insurance Association
Session 25 – Life and Living Benefits Products:
The Perfect Union?
Sim Segal
president
SimErgy Consulting
Session 37 – ORSA Implementation Challenges
Rachel Stephan
president
Les sens créatifs
Session 27 – Does Social Media Work?
Christina Testa
senior marketing underwriter
RGA Life Reinsurance
Session 17 – Group Life and Disability Trends
Jack VanDerhei
research director
Employee Benefit Research Institute
Session 34 – DC Plan Member Behavior—Key
Information for Better Design and Consulting
Ella Young
director of the care continuum and actuarial analytics
for Vancouver Coastal Health
Session 30 – Using Actuarial Modelling to Unravel the
Causes of the Healthcare Costs Spiral
12
Detailed Program
Thursday, June 20
07:00 – 17:30 Registration and CIA Information Desk
07:00 – 07:45 Hot Buffet Breakfast
Room: Montréal Ballroom
07:45 – 09:00 General Business Session
Session 1
Practice Area:
Relevant to:
Speakers:
Agenda:
General Business Session
Room: Montréal Ballroom
General
All
Simon Curtis, President, Canadian Institute of Actuaries
Martin Roy, CIA Secretary-Treasurer
Jeremy Bell, Chair, 2013 Annual Meeting
Jacques Tremblay, the incoming President-elect
Micheline Dionne, Chair, Committee on International Relations (CIR)
Bruce Langstroth, Chair, Practice Council (PC)
Marc-André Melançon, Chair, Member Services Council (MSC)
Larry Miller, Chair, Elections Committee
David Pelletier, Chair, Actuarial Standards Board (ASB)
Jason Vary, Chair, Eligibility and Education Council (EEC)
Election Results Report
Address by the President-Elect 2013–2014
Secretary-Treasurer’s Report and Appointment of CIA Auditor
Update from the ASB
Reports from Councils
Discussion and Vote on Amending Bylaw 2013-1
Question Period
Housekeeping Remarks from the Annual Meeting Chair
Other Business
09:15 – 10:30 Concurrent Sessions
Session 2
CIA Update on Key Activities
Room: Fontaine E
Council updates on strategy
Practice Area:
General
Relevant to:
All
Moderator:
Michel Simard, Executive Director
Speakers:
Simon Curtis, President
Jacques Lafrance, President-elect
Michel Simard
Micheline Dionne, Chair, Executive Director on International Relations (CIR)
Bruce Langstroth, Chair, Practice Council (PC)
Marc-André Melançon, Chair, Member Services Council (MSC)
Jason Vary, chair, Eligibility and Education Council (EEC)
This session will provide an update on the CIA’s current and planned activities in key strategic areas,
including international relations, education, member services, and Practice Council initiatives, as well
as feedback received from employer visits conducted over the past year. Learn more about the future
direction of your Institute, and participate in an interactive discussion on issues of importance.
13
*Not a member of the CIA.
2013 CIA Annual Meeting
Thursday, June 20
Detailed Program
Session 3
PPFRC Update
Practice Area:
Relevant to:
Moderator:
Speakers:
Pension
Pension
Charlene Moriarty (FCIA), principal, Morneau Shepell
Alexandra (Alex) Leslie (FCIA), partner, Mercer Canada
Manuel Monteiro (FCIA), partner, Mercer Canada
Room: Fontaine A
In this session, the Committee on Pension Plan Financial Reporting (PPFRC) will provide an update on its
activities over the past year, as well as upcoming initiatives. In particular, it will discuss a review of the
approach for providing guidance regarding group annuity purchase pricing, and the assumption of
alternative settlement methods for hypothetical wind-up and solvency valuations.
Session 4
Climate Change Research
Practice Area:
Relevant to:
Level:
Moderator:
P&C
Life, Pension
Intermediate (please look over the report as preparation for the session)
Caterina Lindman (FCIA), member, Casualty Actuarial Society (CAS) Climate Change
Committee, and Chair, CAS Actuarial Climate Volatility Index Subcommittee
Caterina Lindman (FCIA)
Speaker:
Room: Fontaine F
The North America actuarial oganizations are collaborating together to research climate change and
develop an actuaries climate index. This session will review the highlights of recently-completed research,
which was published in November 2012 as the report Determining the Impact of Climate Change on
Insurance Risk and the Global Community. The session will also include information about the current
phase of the project—to develop the Actuaries Climate Index and the Actuaries Climate Risk Index—and
will touch on other issues of interest to actuaries regarding climate change.
Report in English: http://www.cia-ica.ca/docs/default-source/2012/212091e.pdf
Executive summary in English: http://www.cia-ica.ca/docs/default-source/2012/212092e.pdf
Session 5
Are Defined Benefit Medical/Dental Plans on the Road
to Extinction Like their Pension Cousins?
Room: Fontaine G
Group Life & Health
Moderate
Michel Allain (FCIA), vice-president, actuarial services and
group insurance, Assumption Mutual Life
Speakers:
John Moore*, vice-president of business development, Johnston Group
Gary Walters (FCIA), senior vice-president of pricing and group reinsurance,
RGA Life Reinsurance
Rapidly-increasing drug costs and ever-rising dental costs are colliding with employers’ increased
scrutiny of the costs of benefits. In this session, two group insurance experts will debate whether medical
and dental plans as we know them will survive the next decade and, if not, what employee benefits might
look like in the future.
Practice Area:
Level:
Moderator:
www.cia-ica.ca
This session will be taped.
This session will be interpreted.
14
Detailed Program
Session 6
Practice Area:
Relevant to:
Level:
Moderator:
Speakers:
Thursday, June 20
Hedging Long-Term Insurance Risks
Room: Salon Bonaventure
Investment
Insurance, ERM
Moderate
Mathieu Boudreault (ACIA), Chair, CIA Academic Relations Committee, and professor,
actuarial science, department of mathematics, Université du Québec à Montréal
(UQAM)
Maciej Augustyniak*, PhD student, Université de Montréal
Jonathan Hede (FCIA), vice-president, Nexus Risk Management
This session will present investment strategies and techniques used by insurance companies to hedge
long-term insurance liabilities.
Session 7
Update on the Changes to Exempt Test Rules
Room: Fontaine CD
Practice Area:
Relevant to:
Level:
Moderator:
Individual Life & Health
ERM, Investment, Reinsurance, Corporate Life & Health
Moderate
Peter Treichel (FCIA), actuary, individual insurance pricing,
Canadian division, Manulife Financial
Speaker:
Stephen Krupicz (FCIA), assistant vice-president, special case markets,
Manulife Financial
This session will provide an update on the latest changes to exempt test rules from the Canadian Life and
Health Insurance Association working group, and will discuss how these changes are expected to impact
current products.
10:30 – 11:00 Networking Break and Trade Show Viewing Time
Room: Fontaine B
11:00 – 12:15 Concurrent Sessions
Session 8
Moderator:
Speakers:
CEO Panel: Sharing Ideas for Success Practice Area:
General Business & Professionalism
Room: Fontaine CD
Chris Fievoli (FCIA), resident actuary, Canadian Institute of Actuaries
Denis Berthiaume (FCIA), president and chief operating officer, Desjardins Insurance
Sharon Giffen (FCIA), president and chief operating officer, Foresters Life Insurance
Alan Ryder (FCIA), president and chief operating officer, Aurigen Reinsurance
Actuaries that work as presidents or chief executive officers have a unique perspective on the businesses
in which we practice. They may also have specific issues that are of concern to them. In this session,
three actuaries who serve in senior roles will offer their thoughts on today’s environment, and what the
actuarial profession should be paying attention to. They will also share their opinions on how actuaries
can leverage their skills to find success in senior management.
15
*Not a member of the CIA.
2013 CIA Annual Meeting
Thursday, June 20
Session 9
Practice Area:
Relevant to:
Moderator:
Speakers:
Detailed Program
What is the Right “Retirement Age”
for Canada?
Room: Salon Bonaventure
Pension
Group Life & Health, Investment
June Smyth (FCIA), senior consultant actuary, Baynes & White
Malcolm Hamilton (FCIA)
Robert L. Brown (FCIA)
Are Canadians retiring later than they were 10 years ago? What about 20 or 30 years ago? We know that
trends change over time. Part of this is influenced by demographics. Part is affected by immigration, the
job market, and fertility rates. Should the Canadian retirement age be increased from 65? What does it
mean to retire? Many seniors are now taking on part-time jobs in retirement. Other countries are
considering changes or have already made them. In this session, Rob Brown—Chair of the CIA Task Force
on Retirement Age—will be speaking with task force member Malcolm Hamilton about their findings in a
recently-released paper. How do the changes in retirement patterns affect our social systems and what
future changes would the CIA recommend to Canada’s leaders? Come hear what Rob and Malcolm have to
say about the issue and their team’s report. Bring your questions, thoughts, and comments.
Session 10
Practice Area:
Moderator:
Speaker:
Model Validation: Know Your Audience
and Second Iteration
Room: Fontaine F
P&C
Stacey Ling Bai (FCIA), manager, actuarial, The Dominion
Robert Sanche*, assistant vice-president, research & development, Travelers
As predictive modelling takes off in the insurance community, companies are facing the growing
realization that building and implementing the second iteration of a model can be just as challenging as
the first. The first part of this talk, “Know Your Audience”, addresses model validation from two
perspectives (the modeller and senior management) and focuses on the first iteration of a model and the
basics. The second part, “Seconds Anyone?”, looks at the second model iteration and addresses the
concerns of the same two constituencies. For modellers, the speakers will explore the added challenges
in validating the model and what techniques can be used to compare it to the previous version. For senior
management, they will discuss how one should view disruption in the context of incremental changes to
the rating plan.
Session 11
Healthcare Funding For Developed
and Developing Countries
Practice Area:
Relevant to:
Level:
Moderator:
Speakers:
Group Life & Health
All
Moderate
Jeremy Bell (FCIA), partner, George & Bell Consulting
Denis Garand (FCIA), president, Denis Garand and Associates
John Have (FCIA), president, Have Associates
Room: Fontaine G
In this session, John Have will present an analysis of the healthcare funding methods in use in 20
countries, incorporating healthcare resources, utilization, costs trends, and outcomes. He will also
discuss the Have Associates Lifestyle Index, which examines the prevalence of obesity, smoking, and
alcohol usage for each country. In addition, Denis Garand will identify what we can learn from the global
experience in health insurance aimed at low-income populations, and how can that be applied in
developed countries.
www.cia-ica.ca
This session will be taped.
This session will be interpreted.
16
Detailed Program
Session 12
Practice Area:
Relevant to:
Moderator:
Speakers:
Thursday, June 20
Advanced Business Analytics for Actuaries
Room: Fontaine A
General Business & Professionalism
All
Mike Boot*, managing director of sections and practice advancement, SOA
Mike Boot*
Kevin Pledge*, chief executive officer and co-founder, Insight Decision Solutions
Barry Senensky (FCIA), president, Claim Analytics
It is the era of “Big Data”— how can actuaries use advanced business analytics, such as data mining and
predictive modelling techniques, to better manage risk? What opportunities are there for actuaries to be
leaders in analytics? The panel of leaders in this rapidly expanding discipline will discuss real-life
examples of how they use data analytics in the areas of life, health, and risk management.
Session 13
Hot Topics in Life Underwriting
Practice Area:
Relevant to:
Level:
Moderator:
Speakers:
Reinsurance
Individual Life & Health
Moderate
Bob Brown (FCIA), chief pricing officer, Aurigen Reinsurance
Bob Brown (FCIA)
Jo-Ann Jolliffe*, vice-president, underwriting, Aurigen Reinsurance
Robert Profumo*, medical director, Aurigen Reinsurance
Room: Fontaine E
Aurigen Reinsurance recently developed an underwriting manual for the Canadian and U.S. markets. Part
1 of this session will detail the process involved in creating a manual based on the most current medical
terminology and clinical data available. Part 2 will discuss the results of new research describing the
relationship between cognitive testing and mortality outcomes when underwriting older age applicants.
12:30 – 14:30 Luncheon
Room: Montréal Ballroom
New Fellow Awards Ceremony
Master of ceremonies: Marc-André Morel*
Luncheon Speaker: Eric Garland*, futurist, megatrends expert, and author
Tales from the Unexpected Future
It's not that our forecasts are wrong—it's that the future keeps surprising us, teaching us shocking,
amusing, and unexpected things about modern life. That's the conclusion of Eric Garland, a veteran
strategic analyst who has forecasted for some of the world's biggest corporations and governments,
from Coca-Cola to the Principality of Monaco, for more than 15 years.
To help us see the limits of our predictive abilities, he will bring funny observations and instructive stories
about how we get predictions wrong. From our perennial expectation that information technology will
create world peace to the ever-expanding complexities of science and scandalous cross-cultural product
names, the history of the future shows us where we get it wrong, and why. In a world where the failure of
risk analysis can have serious implications, this presentation will show the lighter side of our intellectual
journey, and ways in which we can improve our thinking about the future.
17
*Not a member of the CIA.
2013 CIA Annual Meeting
Thursday, June 20
Detailed Program
14:45 – 16:00 Concurrent Sessions
Session 14
Ethical Decision-Making for Actuaries
Practice Area:
Relevant to:
Moderator:
Speakers:
General Business & Professionalism
All
Michel Simard, Executive Director, Canadian Institute of Actuaries
Chris Fievoli (FCIA), resident actuary, Canadian Institute of Actuaries
Michel Simard
Room: Fontaine GH
Had enough of mortality studies and standards of practice? Attend this interactive session discussing
situations where actuaries face decisions that have no “right” answer and where ethics influence
individual viewpoints.
Session 15
Practice Area:
Joint with:
Relevant to:
Level:
Moderator:
Speakers:
ASB Notice of Intent: Update to Standards Relating
to Economic Reinvestment Assumptions
Room: Fontaine CD
General Business & Professionalism
Corporate Life & Health
ERM, Group Life & Health, Individual Life & Health, Investment
Moderate
Ty Faulds (FCIA), vice-president and corporate actuary, London Life
David Campbell (FCIA), vice-president, CALM process improvement,
group finance actuarial, Manulife
Ty Faulds (FCIA)
Alexis Gerbeau (FCIA), associate vice-president, actuarial finance and modelling,
corporate actuarial, Standard Life
The Actuarial Standards Board’s Designated Group on Economic Reinvestment Assumptions for Life
Insurer Valuation, and the supporting CIA Committee on Life Insurance Financial Reporting working
groups, will provide an update on their progress and plans. It will include highlights of the exposure draft
and more in-depth coverage of the proposed changes to the calibration criteria for stochastic applications
and constraints on recognition of investment strategies. Members wanting more details and background
on the proposed changes to the deterministic scenarios are encouraged to attend session 31.
Session 16
Practice Area:
Relevant to:
Joint with:
Moderator:
Speakers:
Latest Developments in Risk Appetite Frameworks
Room: Fontaine E
ERM
All
P&C
Ashley Goorachurn (FCIA), assistant vice-president, financial risk management,
Sun Life Financial
Saskia Goedhart*, partner, Ernst & Young
Susan Meltzer*, vice-president of enterprise risk management, Aviva Canada
At this session, participants will learn about the latest developments in risk appetite frameworks for
insurance companies. Topics covered will include learnings from the financial crisis, such as
developments in risk appetite frameworks in non-insurance financials that could be considered for
insurers. The speakers will also offer their thoughts on how regulatory and governance changes are
impacting risk appetite frameworks.
www.cia-ica.ca
This session will be taped.
This session will be interpreted.
18
Detailed Program
Thursday, June 20
Session 17
Group Life and Disability Trends
Practice Area:
Level:
Moderator:
Speakers:
Group Life & Health
Advanced
Greg Durant (FCIA), chief actuary, Aon Hewitt
Jeffrey Schuh (ASA), vice-president and actuary, RGA Life Reinsurance
Christina Testa*, senior marketing underwriter, RGA Life Reinsurance
Room: Fontaine F
This session will focus on underwriting trends in the group life and disability market, including a summary
of recent surveys on rate guarantees, non-evidence limits, and overall maximums. Participants will also
learn of the emerging experience in the U.S. market for these same products, and what lessons can be
learned.
Session 18
In the CIO Office: Economic Roundtable
Practice Area:
Relevant to:
Level:
Moderator:
Investment
All
Moderate
Patrick Chamberland (FICA), director, advisory services, risk management monitoring
and policies, Caisse de dépôt et placement du Québec
Clément Gignac*, senior vice-president and chief economist, Industrial Alliance
Marc Lévesque*, vice-president, economics and market strategy, PSP
Speakers:
Room: Fontaine A
This session will provide an overview of key current macroeconomic indicators and an outlook for capital
markets.
Portions of this session may be presented in French.
Session 19
Results from the T10 Lapse Study
CANCELLED
16:00 – 16:15 Networking Break
16:15 – 17:30 Concurrent Sessions
Session 20
High-Impact Communication
Practice Area:
Relevant to:
Moderator:
Speaker:
General Business & Professionalism
All
Chris Fievoli (FCIA), resident actuary, Canadian Institute of Actuaries
David Miller*, president, Business Growth Strategies
Room: Fontaine GH
In this fast-paced, interactive session, participants will discover how to communicate technical
information to non-technical audiences (groups and one-on-one) in more impactful, engaging,
and meaningful ways. Specifically, they will discover:
•
•
•
•
19
How to bring more presence to presentations;
How to make a greater impact on their audience;
How to make sure they “hit the mark” every time; and
Three key communication techniques.
*Not a member of the CIA.
2013 CIA Annual Meeting
Thursday, June 20
Session 21
Practice Area:
Relevant to:
Cast:
Detailed Program
Mock Trial - Pension T. Actuary
Takes the Stand!
Room: Salon Bonaventure
General Business & Professionalism
All
Antoine Aylwin*, partner, Fasken Martineau DuMoulin
The Honourable Louis-Philippe Landry*, retired Superior Court Judge (Québec)
Maryse Larouche (FCIA), co-founder, GML Actuarial Services
Jean-Rémi Mayrand (FCIA), account director, Towers Watson
Érik Morissette*, partner, Fasken Martineau DuMoulin
The goal of this session is to illustrate court practices and the different roles (fact vs. opinion) that an
actuary may take as a witness in a proceeding. The title character is the actuary for a large pension plan.
His client, the plan sponsor, is embroiled in a wrongful dismissal lawsuit with a former employee and has
asked for P. T.’s expertise to address the allegations of significant lost pension. P. T. is summoned to testify
in court while another actuary has been retained on behalf of the plaintiff, the former employee. How do P.
T. and the other actuary, plus the lawyers, prepare? What is the typical procedure in court? What are the
pitfalls to avoid? A group of actuaries and lawyers will first set the stage with a mock trial. The judge and
other willing actors will then lead the discussion.
Portions of this session may be presented in French.
Session 29
Best Practices for Effective Stress Testing
Room: Fontaine E
Practice Area:
Relevant to:
Joint with:
Moderator:
Speakers:
ERM
All
P&C
Jay Zhong (FCIA), director, global capital management, Sun Life Financial
Jocelyn Grira*, senior manager, advisory services and risk consulting, KPMG
Jacqueline Friedland (FCIA), partner and P&C actuarial practice leader, KPMG
Nazir Valani (FCIA), partner, KPMG
This session features the latest developments and industry best practices in constructing
and conducting effective stress tests.
Session 23
Practice Area:
Level:
Moderator:
Speakers:
Group Insurance Debates
Room: Fontaine CD
Group Life & Health
Moderate
Edward Kuo (FCIA), consulting actuary, Towers Watson
Jeremy Bell (FCIA), partner, George & Bell Consulting
Erin Crump (FCIA), director, group research & development, Munich Reinsurance
Greg Durant (FCIA), chief actuary, health and benefits, Aon Hewitt
Denis Garand (FCIA), president, Denis Garand and Associates
Linda Maillet (FCIA), Blue Cross Life Insurance
Gary Walters (FCIA), vice-president, group reinsurance, RGA Life Reinsurance
Group practitioners will debate three topics:
1. High-frequency and low-severity benefits (e.g., vision, dental) are coverages
that no longer require insurance protection in a group setting;
2. Group benefit contracts with legacy language are exposed to ever-increasing
downloading and de-listing of services by government social programs; and
3. Beyond the federally-regulated private sector employers, all employer-provided long-term
disability coverage should not be allowed on an Administrative Services Only basis.
www.cia-ica.ca
This session will be taped.
This session will be interpreted.
20
Detailed Program
Session 24
Practice Area:
Relevant to:
Level:
Moderator:
Speakers:
Thursday, June 20
Risk Management Framework of Public
Pension Plans
Room: Fontaine F
Investment
Pension, Investment, ERM
Moderate
Martin Leroux (ACIA), vice-president, policy portfolio and asset liability management,
PSP Investments
Claude Bergeron*, chief risk officer, Caisse de dépôt et placement du Québec
David Long*, senior vice-president and chief investment officer, asset liability
management, derivatives and fixed income, Healthcare of Ontario Pension Plan
This session will provide an overview of the risk management framework used at a large Canadian public
pension plan and implementation of liability-driven investing strategies.
Session 25
Practice Area:
Relevant to:
Level:
Moderator:
Speakers:
Life and Living Benefits Products:
The Perfect Union?
Room: Fontaine A
Individual Life & Health
ERM, Reinsurance, Corporate Life & Health
Moderate
Marc-André Melançon (FCIA), vice-president, development, RGA Life
Frédéric Jacques (FCIA), assistant vice-president, living benefits, Munich Reinsurance
Michael Kirkwood (FCIA), assistant vice-president and actuary, risk management
Canada, Manulife Financial
Ron Sanderson*, director, policyholder taxation and pensions, Canadian Life and Health
Insurance Association
Combination products are quite common outside Canada, whether combining multiple risks under one
policy or accelerating the life insurance component. However, their entry into Canada has been limited.
This session will discuss their status here and in other markets, plus what we know about their tax
position in Canada and how this may influence your product development activities.
17:30 – 19:30 Networking Reception
Room: Montréal Ballroom
Before heading out to enjoy Montréal’s nightlife, drop by the Networking Reception for light refreshments
with old friends and the chance to make new acquaintances. Sponsored by the Society of Actuaries.
21
*Not a member of the CIA.
2013 CIA Annual Meeting
Friday, June 21
Detailed Program
7:00 – 7:45
Hot Buffet Breakfast
7:45 – 9:00
Plenary Session
Session 26
Creating Opportunities through
Collaboration Between Academia and
the Actuarial Profession
Practice Area:
Relevant to:
Moderator:
Speakers:
Room: Montréal Ballroom
Room: Montréal Ballroom
General Business & Professionalism
All
Mathieu Boudreault (ACIA), Chair, CIA Academic Relations Committee, and professor,
actuarial science, department of mathematics, Université du Québec à Montréal
(UQAM)
Mathieu Boudreault (ACIA)
Robert L. Brown (FCIA)
René Delsanne (FCIA), professor, actuarial science, department of mathematics,
Université du Québec à Montréal (UQAM)
David Landriault (FCIA), associate professor, department of statistics and actuarial
science, University of Waterloo, and Canada Research Chair in Risk Theory
John Dark (FCIA), actuarial & product, Co-operators Life Insurance Company
This session, organized and moderated by the CIA Academic Relations Committee, will explore
opportunities to enhance synergies between academics and practitioners in the actuarial community in
Canada. By leveraging the potential of this combined community, the profession will be better positioned
to anticipate and respond to the changing business environment.
9:15 – 10:30
Concurrent Sessions
Session 27
Does Social Media Work?
Room: Fontaine E
General Business & Professionalism
All
Chris Fievoli (FCIA), resident actuary, Canadian Institute of Actuaries
Kevin Pledge*, chief executive officer and co-founder, Insight Decision Solutions
Rachel Stephan*, president, Les sens créatifs
Practice Area:
Relevant to:
Moderator:
Speakers:
We all hear about social media, but does it work for actuaries? Can CIA members leverage this new
technology to stay connected to their clients and colleagues, and use it to grow their businesses? In this
session, we will try to answer these questions, and expose you to some of the ways that social media
can be incorporated into your practice. Our presenters will bring perspectives from both actuarial and
non-actuarial backgrounds.
www.cia-ica.ca
This session will be taped.
This session will be interpreted.
22
Detailed Program
Session 28
Practice Area:
Relevant to:
Moderator:
Speakers:
Friday, June 21
Super-Size Me: Jumbo Pension Risk Transfer
Deals from Around the Globe
Room: Salon Bonaventure
Pension
Investment
Patrick De Roy (FCIA), institutional portfolio manager, fixed income, Canada,
Pyramis Global Advisors
Scott Campion*, principal, Americas insurance practice, Oliver Wyman, New York
Tom Ground*, head of bulk purchase annuities and longevity insurance,
Legal & General, London, UK
Markets are volatile, people are living longer, and pension risk is receiving lots of attention. What’s a
defined benefit pension plan sponsor to do? A pension risk transfer deal, of course! In this session, Oliver
Wyman—who advised GM and Verizon—will talk about their jumbo annuity purchases, the largest ever
made. Legal & General will talk about its longevity swap with BAE Systems, the single largest pension
insurance deal in the UK. Join us for the inside scoop on these ground-breaking deals. Learn what drove
these plan sponsors to take action, how these deals actually get done, and what this could signal for
Canadian defined benefits pension plans.
Session 22
Risk Governance Roundtable
Practice Area:
Joint with:
Relevant to:
Moderator:
Speakers:
ERM
P&C
All
Altaf Rahim (FCIA), chief risk officer, Aurigen Reinsurance
Donald Chu*, director of financial institutions ratings, Standard & Poor’s
Saskia Goedhart*, partner, Ernst & Young
Room: Fontaine F
This panel discussion will focus on current issues and trends in risk governance. Topics will include
the increasing importance of the board and how the enterprise risk management function can meet
increasing demands for information.
Session 30
Practice Area:
Relevant to:
Level:
Moderator:
Speakers:
Using Actuarial Modelling to Unravel the
Causes of the Healthcare Costs Spiral
Room: Fontaine GH
Group Life & Health
All
Moderate
Jeremy Bell (FCIA), partner, George & Bell Consulting
John Have (FCIA), president, Have Associates
Ella Young*, director of the care continuum and actuarial analytics for
Vancouver Coastal Health
John Have will discuss a recent CIA project he completed for New Brunswick. It details the development of
the components of an actuarial model including trends for ageing population, utilization, and price
inflation by service type (hospital, physician, etc.). Ella Young will discuss how predictive modelling
can address the cost crisis, featuring two case studies from British Columbia.
23
*Not a member of the CIA.
2013 CIA Annual Meeting
Friday, June 21
Session 31
Practice Area:
Relevant to:
Level:
Moderator:
Speaker:
Detailed Program
CLIFR: News and Views
Room: Fontaine A
Corporate Life & Health
Group Life & Health, Individual Life & Health, Investment
Moderate
Rebecca Rycroft (FCIA), principal, Oliver Wyman
Alexis Gerbeau (FCIA), associate vice-president, actuarial finance and modelling,
corporate actuarial, Standard Life
This session will provide an update on current Committee on Life Insurance Financial Reporting
initiatives, including new prescribed scenarios from the Actuarial Standards Board’s designated group,
morbidity and mortality improvement, segregated fund bond fund calibration, and planned contents of the
2013 Fall Letter.
Session 32
What’s New in Mortality Research at the SOA
Practice Area:
Relevant to:
Level:
Moderator:
Speaker:
Reinsurance
Individual Life & Health, Reassurance, Group Life & Health
Moderate
Patrick Charbonneau (FCIA), project director, development, Optimum Réassurance
Jean-Marc Fix*, vice-president of research and development, Optimum Réassurance
Room: Fontaine CD
This session will discuss timely mortality research topics including mortality evaluation for preferred life
insurance valuation (ongoing), new mortality tables work for guaranteed and simplified issue life
insurance (ongoing), mortality for high face amounts (recently completed), Living to 100 symposia
(ongoing), and select period mortality (starting).
10:30 – 11:00 Networking Break and Trade Show Viewing Time
Room: Fontaine B
11:00 – 12:15 Concurrent Sessions
Session 33
Professionalism and Ethics
Practice Area:
Relevant to:
Moderator:
Speakers:
General Business & Professionalism
All
Michel Simard, Executive Director, Canadian Institute of Actuaries
The Honourable Pierre J. Dalphond*, judge, Appeal Court of Québec
André Lacroix*, professor, philosophy and applied ethics department,
Université de Sherbrooke
Room: Salon Bonaventure
Today’s actuaries face situations calling for ethical competencies as well as knowledge extending beyond
the technical skills specific to their field of expertise. On the one hand, “professionalization” is undergoing
a transformation that requires us to reflect on the meaning of professional activity and professionalism.
On the other, while actuarial practice is not regulated by a code of ethics, it is in the public interest that
actuaries have a sense of their ethical responsibilities.
This session will invite participants to ponder their professional practice from an ethical standpoint, as
well as the conditions underlying this practice.
This session will be presented primarily in French.
www.cia-ica.ca
This session will be taped.
This session will be interpreted.
24
Detailed Program
Session 34
Practice Area:
Joint with:
Level:
Moderator:
Speaker:
Friday, June 21
DC Plan Member Behavior — Key Information
for Better Design and Consulting
Room: Fontaine A
Pension
Investment
Moderate
Ross Dunlop (FCIA), vice-president, investments and portfolio manager,
Cardinal Capital Management
Dr. Jack VanDerhei*, research director, Employee Benefit Research Institute
The Employee Benefit Research Institute (EBRI) has completed significant research on the investment
behavior of those in participant-directed defined contribution (DC) plans. The EBRI has the largest and most
comprehensive database (annual observations of over 23 million 401(k) participants from more than 60,000
plans) and statistics available on DC plan member behavior in asset allocations, contribution levels, and
participation as well as the response to participant behavior by plan sponsors and service. In this session,
EBRI research director Dr. Jack VanDerhei will present the key statistics and findings from this research,
which would greatly enhance a pension actuary’s ability to provide better DC plan designs and consulting.
Session 35
Individualized Risk Rating
Practice Area:
Moderator:
Speakers:
P&C
Nathalie Bégin (FCIA), senior actuarial consultant, Towers Watson
Robert L. Brown (FCIA)
Pierre Laurin (FCIA), director, Towers Watson
Room: Fontaine F
Predictive modelling continues to change the way we analyze, measure, and rate risks. In the P&C
industry, generalized linear models have become the standard for industry leaders in rate segmentation.
To gain a competitive advantage companies strive to enhance the sophistication of their models, to find
better ways to use big data, or to discover the next best predictor of client behaviour. At what point does
our creativity and innovation erode the principles of collective risk that have created the basic need for
insurance? This panel will discuss the philosophical transition that has taken place over time and provide
various perspectives on the pros and cons of individual risk rating within our industry.
Session 36
Interest Rate Calibration
Practice Area:
Relevant to:
Level:
Moderator:
Corporate Life & Health
ERM, Individual Life & Health, Investment
Advanced
David Campbell (FCIA), vice-president, CALM process improvement, group finance
actuarial, Manulife
David Campbell (FCIA)
Claudia Gagné (FCIA), assistant professor in workshop actuarial education,
University of Montréal
Speakers:
Room: Fontaine E
The CIA and its committees and subcommittees have been spending considerable time on calibration of
interest rate models. The subcommittees will discuss the technical aspects of their work, including how
calibration criteria are set, model selection and parameterization, and model fit, plus challenges they
faced and the lessons they learned.
25
*Not a member of the CIA.
2013 CIA Annual Meeting
Friday, June 21
Detailed Program
Session 37
ORSA Implementation Challenges
Practice Area:
Joint with:
Relevant to:
Moderator:
Speakers:
ERM
P&C
All
Sim Segal*, president, SimErgy Consulting
Christopher Crombie (FCIA), associate vice-president, insurance and financial risk,
Standard Life
Hakim Nouira*, senior manager, Ernst & Young
Sim Segal*
Room: Fontaine GH
In this session, we will consider the Own Risk and Solvency Assessment (ORSA) guideline issued by the
Office of the Superintendent of Financial Institutions. We will discuss some practical considerations
behind the implementation of ORSA from both a life and P&C insurer perspective, and address such
questions as: are companies prepared for ORSA, how can a company assess whether it is prepared, which
ORSA requirements will be most challenging to implement, and what practical techniques may be helpful
in implementing ORSA?
At Aurigen, you will find
a team of seasoned
professionals who listen
actively and respond
quickly, delivering strong
facultative support and
creative solutions backed
by rigorous analytical
methodology.
Aurigen — a fresh
perspective for your life
reinsurance needs
For more information contact:
Yana.Gagne@AurigenRe.com
the source for your reinsurance solutions
www.cia-ica.ca
This session will be taped.
www.AurigenRe.com
This session will be interpreted.
26
Detailed Program
Session 38
Practice Area:
Relevant to:
Level:
Moderator:
Speakers:
Friday, June 21
Adjustable Products: Are We There Yet?
Room: Fontaine CD
Individual Life & Health
ERM, Reinsurance, Corporate Life & Health
Basic
Dominic Hains (FCIA), vice-president of pricing, RGA Life Reinsurance
Stéphane Rochon*, vice-president, sales and marketing, Humania Assurance
Jean Roy (FCIA), David Forest Financial Services
With the current low-interest-rate environment and potential changes to the reserving and capital regime,
adjustable products have become a growing topic of interest. What are the opportunities and obstacles
with adjustable products? Our panel will look at the question from various angles: broker, sales,
and product development.
12:30 – 14:00 Luncheon
Room: Montréal Ballroom
President’s Farewell Speech, Change of Office,
Incoming President’s Address, Volunteer Awards Ceremony
Master of Ceremonies: Marc-André Morel*
14:15 – 15:30 Concurrent Sessions
Session 39
Practice Area:
Relevant to:
Moderator:
Speakers:
Practice Committee Update: CRMCR, AEC, CIP
Room: Fontaine E
General Business & Professionalism
All
Chris Fievoli (FCIA), resident actuary, Canadian Institute of Actuaries
Committee on Risk Management and Capital Requirements:
Robert Berendsen (FCIA), principal, Oliver Wyman
Michel Dionne (FCIA), vice-president and actuary, Intact Financial Corporation
Committee on Actuarial Evidence:
Maryse Larouche (FCIA), founder, GML Actuarial Services
Committee on Investment Practice:
Ross Dunlop (FCIA), vice-president, investments and portfolio manager,
Cardinal Capital Management
In this session, representatives of the three practice committees named above will present an update on
recent activities.
Session 40
Shared Risk Plans—Case Studies
Room: Salon Bonaventure
Pension
Investment
Jean-François Poitras (FCIA), actuarial senior advisor, Desjardins Sécurité financière
Conrad Ferguson (FCIA), partner, Morneau Shepell
Angela Mazerolle Stephens*, superintendent of pensions, New Brunswick
Jérôme Savard (FCIA), senior director, Desjardins Financial Security
This session will present the details of the new Shared Risk Plan (SRP) recently implemented in New
Brunswick, and discuss the key characteristics and the different requirements (regulatory, funding,
accounting). It will also highlight a shared cost plan, the Desjardins Group Pension Plan, and the
challenges facing the plan, the risk management, and the accounting requirements.
Practice Area:
Relevant to:
Moderator:
Speakers:
Portions of this session may be presented in French.
27
*Not a member of the CIA.
2013 CIA Annual Meeting
Friday, June 21
Session 41
Detailed Program
The Next Generation of the Minimum Capital Test (MCT) —
A Regulatory Capital Framework for the Canadian P&C
Insurance Industry
Room: Fontaine F
Practice Area:
Moderator:
Speakers:
P&C
Fiona So (ACIA), Office of the Superintendent of Financial Institutions (OSFI)
Judith Roberge*, director, P&C insurance capital, OSFI
Christopher Townsend (FCIA), managing director, OSFI
OSFI began a process of reviewing the Minimum Capital Test (MCT) in 2010 with a data request, followed
by another in 2012, with the intent of making the MCT more risk-based while ensuring that it explicitly
covers all material risks faced by P&C insurers. As part of this review, OSFI is aiming to ensure that the
new capital framework produces the right level of capital requirements at the right level of confidence.
The proposed changes include a review of insurance, credit, and market risk measures while introducing
an explicit operational risk charge and a credit for diversification. The presenters will provide an overview
of OSFI’s capital initiatives, a description of the planned consultation process, and timelines.
Session 42
Fraud in Group Insurance
Practice Area:
Level:
Moderator:
Speakers:
Group Life & Health
Moderate
Louise Lessard (FCIA), consultant, group insurance plans, Towers Watson
Deana Maric*, manager, investigative services, Sun Life Financial
Joseph Peter*, vice-president of finance, Canadian operations, Sun Life Financial
Room: Fontaine GH
Fraud protection has long been a preoccupation for insurers and plan sponsors. In recent years, however,
fraudulent activity associated with group benefit claims has grown in sophistication and has expanded to
new areas; it is costing plan sponsors and insurers millions. In which areas do we now see fraud
emerging? How much does it really cost and is fighting it worth the investment? How can insurers and
sponsors best arm themselves against it?
Session 43
Equities in Insurance Companies’ Portfolios
Practice Area:
Relevant to:
Level:
Moderator:
Investment
Insurance, ERM
Moderate
Patrick Chamberland (FCIA), director advisory services, risk management monitoring
and policies, Caisse de dépôt et placement du Québec
Josephine Marks (FCIA), principal, Eckler
Martin Roy (FCIA), Fiera Capital
Speakers:
Room: Fontaine A
This session will explore to what extent insurance companies are allocating capital to risky assets such as
equities, and the implications from a risk management, pricing, and valuation perspective.
Session 44
Global Protection Product Sales Trends
Practice Area:
Joint with:
Moderator:
Speaker:
Reinsurance
Individual Life & Health
Mayur Shah (FCIA), pricing actuary, Aurigen Reinsurance
Naveed Irshad (FCIA), senior vice-president, global accounts, RGA International
Room: Fontaine CD
This session will provide a whirlwind tour of sales and product trends for protection-oriented insurance
business around the world. Products selling well and those in decline will be discussed (using business
case studies), along with common global factors driving new product development.
www.cia-ica.ca
This session will be taped.
This session will be interpreted.
28
Maîtrise en mathématiques
Concentration en mathématiques actuarielles et financières
› Modèles stochastiques › Catastrophes naturelles › Ruine › Risques extrêmes ›
› Fonds distincts › Solvabilité › Produits dérivés › Tarification IARD › Réserves ›
(CAE)
of Actuaries (SOA),
◊ L'UQAM
L'UQAM est reconnue comme un Centre actuariel
iel d’excellence (C
CAE)
AE) par la Society
S
(SOA),
(ICA).
en plus d’être accréditée par l’Institut canadien des actuaires (I
CA).
L’UQAM
facultaire
Quantact.
◊L
’UQAM abrite le groupe de recherche
recherche facult
aire en mathématiques actuarielles et financières Quant
act.
recherche.
◊ Deux profils offerts : avec mémoire ou avec rapport de rec
herche.
Information : 514 987-7748
987-7748 | actfin@uqam.ca
math.uqam.ca/actuariat
Illustration : iStoc
iStockphoto
kphoto
S’adress
S’adressant
ant principalement aux bac
bacheliers
heliers en actuariat ou en mathématiques, cette concentration vise
à former des professionnels de l'actuariat ou de la finance mathématique œuvrant au sein d'équipes de gestion
et de ttarification
arification des risques ainsi que de développement de produits complexes d’assurance et de finance.
Attendance Record
DURATION
Session 1 – General Business Session
75
Session 2 – CIA Update on Key Activities
75
Session 3 – PPFRC Update
75
Session 4 – Climate Change Research
75
Session 5 – Are Defined Benefit Medical/Dental Plans on the Road to Extinction Like their Pension Cousins?
75
Session 6 – Hedging Long-Term Insurance Risks
75
Session 7 – Update on the Changes to Exempt Test Rules
75
Session 8 – CEO Panel: Sharing Ideas for Success
75
Session 9 – What is the Right “Retirement Age” for Canada?
75
Session 10 – Model Validation: Know Your Audience and Second Iteration
75
Session 11 – Healthcare Funding For Developed and Developing Countries
75
Session 12 – Advanced Business Analytics for Actuaries
75
Session 13 – Hot Topics in Underwriting
75
Session 14 – Ethical Decision-Making for Actuaries
75
Session 15 – ASB Notice of Intent: Update to Standards Relating to Economic Reinvestment Assumptions
75
Session 16 – Latest Developments in Risk Appetite Frameworks
75
Session 17 – Group Life and Disability Trends
75
Session 18 – In the CIO Office: Economic Roundtable
75
Session 19 – Results from the T10 Lapse Study
CANCELLED
Session 20 – High-Impact Communication
75
Session 21 – Mock Trial - Pension T. Actuary Takes the Stand!
75
Session 22 – Risk Governance Roundtable
75
Session 23 – Group Insurance Debates
75
Session 24 – Risk Management Framework of Public Pension Plans
75
Session 25 – Life and Living Benefits Products: The Perfect Union?
Session 26 – Plenary Session: Creating Opportunities through Collaboration Between Academia
and the Actuarial Profession
Session 27 – Does Social Media Work?
75
Session 28 – Super-Size Me: Jumbo Pension Risk Transfer Deals from Around the Globe
75
Session 29 – Best Practices for Effective Stress Testing
75
Session 30 – Using Actuarial Modelling to Unravel the Causes of the Healthcare Costs Spiral
75
Session 31 – CLIFR: News and Views
75
Session 32 – What’s New in Mortality Research at the SOA
75
Session 33 – Professionalism and Ethics
75
Session 34 – DC Plan Member Behavior—Key Information for Better Design and Consulting
75
Session 35 – Individualized Risk Rating
75
Session 36 – Interest Rate Calibration
75
Session 37 – ORSA Implementation Challenges
75
Session 38 – Adjustable Products: Are We There Yet?
75
Session 39 – Practice Committee Update: CRMCR, AEC, CIP
75
Session 40 – Shared Risk Plans – Case Studies
75
Session 41 – The Next Generation of the Minimum Capital Test (MCT) – A Regulatory Capital Framework
for the Canadian P&C Insurance Industry
75
Session 42 – Fraud in Group Insurance
75
Session 43 – Equities in Insurance Companies’ Portfolios
75
Session 44 – Global Protection Product Sales Trends
75
www.cia-ica.ca
ATTENDED
75
75
30
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Paula
Paula Elliot, FCAS,
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Geoffrey
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f ey Hancock, FSA, FCIA, CERA
Rebecca Rycroft,
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