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BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231123T090000
DTEND;TZID=Europe/Vienna:20231124T170000
DTSTAMP:20260416T002735
CREATED:20230414T193226Z
LAST-MODIFIED:20230414T193226Z
UID:10000321-1700730000-1700845200@avoe.at
SUMMARY:EAA Web Session: Mathematical Modelling for Actuaries
DESCRIPTION:Actuaries are very experienced in modelling financial risks either stemming from population dynamics or from random events. Probability theory and statistics is their daily bread. But there are many other phenomena out in the world without having a direct financial impact but should be understood by actuaries as well. This web session is about models which typically are not covered in full by actuarial exams\, but which could bring better insights to risks actuaries have to price. We will show very general approaches to set up models with applications from many different areas\, whether it is medicine\, construction\, meteorology\, biology or others. Of course\, this web session can only be seen as an introduction into modelling and cannot cover all interesting models\, but it should enable participants to find more in literature or develop their own ideas. \nThe purpose of the online training is to open the mind for problems which are by nature not actuarial but are very much linked to typical actuarial questions. It should enable actuaries and risk managers to think out of the box and find new ways to solve their challenges. \n  \nThis seminar is very interactive\, participants are required to participate in several break-out sessions. \n  \nAnmeldeschluss: 2023-11-21
URL:https://avoe.at/event/eaa-web-session-mathematical-modelling-for-actuaries-3/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231116T090000
DTEND;TZID=Europe/Vienna:20231117T123000
DTSTAMP:20260416T002735
CREATED:20230414T193821Z
LAST-MODIFIED:20230414T193821Z
UID:10000323-1700125200-1700224200@avoe.at
SUMMARY:Practical Techniques from Asset Management Less Known to Actuaries
DESCRIPTION:Various practical techniques and insights used in institutional asset management are less known to actuarially trained persons. As is often the case with practical applications\, when you have seen an example\, you appreciate a method. \nThe course is divided into two-morning sessions from 9:00 to 12:30 with a half-hour break. \nThe course has two aims. Foremost the goal is to illustrate practical examples of handy techniques. Furthermore\, familiarity with a process or method is only helpful if the background and conditions are elucidated. \nSome techniques covered are: \n\nA method to arrive at a well-considered choice.\nInsight into the application of Chaos Theory.\nAn extended version of the well-known SWOT method.\nVisual aid for a project and progress control.\nParameterization of the yield curve.\nTransforming liability cash flows into an investable portfolio.\nA saddle point as optimum.\n\n  \nAnmeldeschluss: 2023-11-14
URL:https://avoe.at/event/practical-techniques-from-asset-management-less-known-to-actuaries/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231114T100000
DTEND;TZID=Europe/Vienna:20231114T120000
DTSTAMP:20260416T002735
CREATED:20230428T163935Z
LAST-MODIFIED:20230428T163935Z
UID:10000337-1699956000-1699963200@avoe.at
SUMMARY:EAA Web Session: Emerging Risks
DESCRIPTION:Recent developments and events have put some Emerging Risks in the spotlight\, such as geopolitical risk\, artificial intelligence\, and climate change. However\, there is a large number of further topics in the Emerging Risks universe that might warrant equal attention. Their assessment will always have to be specific to the individual company and its activities and requires a good overview and solid understanding of all Emerging Risk as well as their related trends and interconnections. \n  \nAnmeldeschluss: 2023-11-12
URL:https://avoe.at/event/eaa-web-session-emerging-risks/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231110T100000
DTEND;TZID=Europe/Vienna:20231110T120000
DTSTAMP:20260416T002735
CREATED:20230919T182352Z
LAST-MODIFIED:20230919T182352Z
UID:10000358-1699610400-1699617600@avoe.at
SUMMARY:EAA Web Session: Sustainability Risk Management
DESCRIPTION:This session aims at giving an overview of the initiatives taken by EIOPA on Sustainability. We will then focus on ORSA explaining best practices on materiality assessment and scenarios. A summary of existing stress tests will be presented. We end up with a survey on climate ORSA. \nAnmeldeschluss: 2023-11-08
URL:https://avoe.at/event/eaa-web-session-sustainability-risk-management/
LOCATION:Online/Streaming
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231031T093000
DTEND;TZID=Europe/Vienna:20231031T121500
DTSTAMP:20260416T002735
CREATED:20230414T194112Z
LAST-MODIFIED:20231003T192714Z
UID:10000325-1698744600-1698754500@avoe.at
SUMMARY:Introduction to Natural Catastrophe Modelling
DESCRIPTION:Natural Catastrophe Models are a key ingredient for the assessment of Nat Cat risk. Questions like “What losses do we expect from catastrophic events on average?” and “What losses do we need to expect in the worst case?” are becoming more and more relevant\, in particular considering climate change. Natural Catastrophe Models try to answer these questions in a statistical sense\, and have for many years now become an important tool for the assessment of (re-)insurance contracts. In this web session\, we will give a basic introduction to Nat Cat Modelling and its applications. \n  \nDuring the web session\, the basic components of a Nat Cat model will be explained: Exposure data\, the hazard\, vulnerabilities\, and the financial model. Additionally\, sources of uncertainty will be discussed together with methods for quantification. After the first part\, we will build our own simple Nat Cat model in a hands-on case study. Lastly\, we will look in more detail at the results a model can produce and how to use them for pricing in the reinsurance context. \n  \n  \nAnmeldeschluss: 27.10.2023
URL:https://avoe.at/event/introduction-to-natural-catastrophe-modelling-2/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231030T100000
DTEND;TZID=Europe/Vienna:20231030T120000
DTSTAMP:20260416T002735
CREATED:20230919T182547Z
LAST-MODIFIED:20230919T182547Z
UID:10000359-1698660000-1698667200@avoe.at
SUMMARY:EAA Web Session: Comparing IFRS17 and Solvency II
DESCRIPTION: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 including the expected changes from the review of Solvency II. A case study will then illustrate the application of those concepts to an insurance portfolio. \nAnmeldeschluss: 2023-10-26
URL:https://avoe.at/event/eaa-web-session-comparing-ifrs17-and-solvency-ii-2/
LOCATION:Online/Streaming
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231023T093000
DTEND;TZID=Europe/Vienna:20231026T130000
DTSTAMP:20260416T002735
CREATED:20230414T194735Z
LAST-MODIFIED:20230414T194735Z
UID:10000327-1698053400-1698325200@avoe.at
SUMMARY:EAA Web Session: Communication for Actuaries
DESCRIPTION:The Communication for Actuaries course is tailor-made for actuaries and the situations that you encounter. It is an interactive training course that ensures that the theory is immediately applied through various exercises (e.g. exchanges in small groups\, role-plays\, discussions) that relate to terms or situations of your day-to-day work. \n  \nThe course is designed to give you a solid foundation on the topic of communication and to practice what you learn so you can use the gained knowledge in areas that are relevant for your work. The last day offers you the opportunity to make a short presentation specific to your work for which you will be given individual feedback. At the end of the course\, you will know exactly how to tackle your next communication challenge. \n  \n  \nAnmeldeschluss: 2023-10-19
URL:https://avoe.at/event/eaa-web-session-communication-for-actuaries/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231018T090000
DTEND;TZID=Europe/Vienna:20231019T123000
DTSTAMP:20260416T002735
CREATED:20230919T190402Z
LAST-MODIFIED:20230919T190402Z
UID:10000366-1697619600-1697718600@avoe.at
SUMMARY:EAA Web Session: Extreme Risk Analysis
DESCRIPTION:The economic model of insurance is based on mutualization. Roughly speaking\, this consists in considering that the good results of the majority of the insureds compensate for the losses linked to the claims of a minority. Mathematically\, it is based on the law of large numbers and the central limit theorem. But new risks\, on a large scale\, such as cyber\, climatic or epidemiological risks\, can challenge this model. On the one hand\, the scale of the associated disasters\, which takes us away from the hypotheses of the central limit theorem\, and on the other hand\, the statistical ignorance of the phenomena considered\, which makes their anticipation and coverage complicated. The question of the (mathematical) insurability of these risks is clearly raised. \nThe objective of this course is to understand and master the mathematical and statistical tools necessary for the analysis of extreme risks. We will present the main mathematical issues related to the study of these extreme risks and show how mathematical modeling and the relevant use of the (often scarce) data available can be used to build management solutions for this type of risk. \nAnmeldeschluss: 2023-10-16
URL:https://avoe.at/event/eaa-web-session-extreme-risk-analysis-3/
LOCATION:Online/Streaming
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231018T090000
DTEND;TZID=Europe/Vienna:20231019T123000
DTSTAMP:20260416T002735
CREATED:20230414T192506Z
LAST-MODIFIED:20230414T192506Z
UID:10000320-1697619600-1697718600@avoe.at
SUMMARY:EAA Web Session: Extreme Risk Analysis
DESCRIPTION:The economic model of insurance is based on mutualization. Roughly speaking\, this consists in considering that the good results of the majority of the insureds compensate for the losses linked to the claims of a minority. Mathematically\, it is based on the law of large numbers and the central limit theorem. But new risks\, on a large scale\, such as cyber\, climatic or epidemiological risks\, can challenge this model. On the one hand\, the scale of the associated disasters\, which takes us away from the hypotheses of the central limit theorem\, and on the other hand\, the statistical ignorance of the phenomena considered\, which makes their anticipation and coverage complicated. The question of the (mathematical) insurability of these risks is clearly raised. \nThe objective of this course is to understand and master the mathematical and statistical tools necessary for the analysis of extreme risks. We will present the main mathematical issues related to the study of these extreme risks and show how mathematical modeling and the relevant use of the (often scarce) data available can be used to build management solutions for this type of risk. \n  \n  \nAnmeldeschluss: 2023-10-16
URL:https://avoe.at/event/eaa-web-session-extreme-risk-analysis-2/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231010T100000
DTEND;TZID=Europe/Vienna:20231010T120000
DTSTAMP:20260416T002735
CREATED:20230919T183227Z
LAST-MODIFIED:20230919T183227Z
UID:10000361-1696932000-1696939200@avoe.at
SUMMARY:EAA Web Session: NF: How an Imaginary Pension Fund Can Help Steer a PAYG System
DESCRIPTION:The aging population presents serious challenges for traditional pay-as-you-go pension systems. Longer life expectancies increase pension expenses while low birth rates weaken the future contribution base. \n  \nA buffer fund can help alleviate these problems. However\, this raises questions about how much insured should contribute and how big the fund should be. Ideally\, the contribution rate should be stable\, but it also needs to be based on observable quantities and transparent rules. \n  \nNotional funding (NF) provides a coherent solution to this problem. It takes the liabilities of the PAYG system as seriously as those of the funded system. In NF\, the PAYG system is treated as if it were a fund-ed system without assets to cover liabilities. \n  \nIn NF\, the pension contribution consists of two components: the funded contribution (C1) and an additional contribution (C2). The funded contribution equals the present value of the annual accrual. The additional contribution corresponds the imputed re-turn on missing assets. If the total actual contribution equals the sum of these two components (C1+C2)\, the level of unfunded liabilities remains stable. However\, there may be cases where a decreasing unfunded liability is desirable\, such as when the pension system faces declining labour due to low fertility rates. \n  \nThe NF model also provides a consistent basis for automatic adjustment of pension expenditures. In the extreme\, the contribution rate can be fixed\, transferring the need to adjust financing entirely to pension benefits. However\, necessary adjustments can be divided to adjust pension benefits and contributions in the desired ratio. \n  \nIn this web session\, we will illustrate the NF model in the context of a simple old-age pension system\, where the contribution level and/or benefit level are adjusted annually based on different return and birth rate scenarios. The effects of different policies will be examined on a yearly and generational basis. \nAnmeldeschluss: 2023-10-06
URL:https://avoe.at/event/eaa-web-session-nf-how-an-imaginary-pension-fund-can-help-steer-a-payg-system/
LOCATION:Online/Streaming
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20231009T083000
DTEND;TZID=Europe/Vienna:20231009T130000
DTSTAMP:20260416T002735
CREATED:20230919T185712Z
LAST-MODIFIED:20230919T185712Z
UID:10000365-1696840200-1696856400@avoe.at
SUMMARY:EAA Web Session: How Visualization and Computer Science (AI) Could Support Pension Funds
DESCRIPTION:The supreme body of the pension fund (board of trustees) is responsible for the overall management of the pension fund. The non-transferable and inalienable duties of the supreme body include the following tasks among others: the setting of the financing system and comprehensibly designing\, monitoring\, and controlling the asset management to improve the returns and benefits for the members of the pension fund. Since being a member of the board of trustees is not a full-time job\, the scope of duties is enormous: meeting the aforementioned legal requirements requires a lot of time and expertise. Pension fund accredited actuaries\, investment consultants\, auditors as well as pension fund management teams should fully support the board of trustees to make proper decisions. \n  \nThe reliable forecast of liabilities is very important for the determination of the pension funds‘ financing system and its control (with risk budgeting). Since many liability parameters depend on the development of yield curves and inflation\, it is worthwhile to prepare the analysis of their historical data\, visualize them and additionally forecast them reliably. \n  \nThe aim of this web session is to show how useful the yield curve and inflation forecasting are with the deep learning approach\, the visualization of the results and the liability forecast based on them. These approaches are implemented using Python (Anaconda/Jupiter) and R-Project. This type of analysis helps the board of trustees to make their decisions and to better understand the forecast results (compared to affine models). In addition\, we will show that such approaches are useful for forecasting international accounting results (IFRS\, US GAAP\, IPSAS) and for preparing asset allocation to be the strong third contributor. \nAnmeldeschluss: 2023-10-05
URL:https://avoe.at/event/eaa-web-session-how-visualization-and-computer-science-ai-could-support-pension-funds/
LOCATION:Online/Streaming
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230913T090000
DTEND;TZID=Europe/Vienna:20230913T154500
DTSTAMP:20260416T002735
CREATED:20230414T194424Z
LAST-MODIFIED:20230414T194424Z
UID:10000326-1694595600-1694619900@avoe.at
SUMMARY:EAA Web Session: How Can Actuaries Tackle Inflation and its Consequences?
DESCRIPTION:Inflation does not come and does not go on its own. Although many actors on financial markets hoped for a temporary inflation caused by supply chain disruptors\, things have changed due to uncertainty from a geopolitical and financial markets perspective. Interest rate curves are now starting to be inverse and recessions are potentially only off the table due to the strong demand on the labour market. \n  \nHowever\, the core inflation is Europe is further increasing\, which is causing concern. Salary increases start to become far higher than in the past\, although it is not compensating for the full inflation losses. \n  \nWhat are the main drivers for the change of opinion? Without being exhaustive the following points can be mentioned: \n\nCentral Bank’s quantitative easing actions 2. Increase of energy prices (esp. oil and gas) 3. Increase of Wheat prices 4. Increase of prices of semiconductors\n\n  \nThese effects were significantly stressed by: \n– The war in the Ukraine \n– The ESG effects (Carbon certificates and pricing increases due to tax effects over CO2  levies). \n  \nInflation comes with many challenges for businesses in general and insurance business in particular. Due to the long term nature of the business inflation can be very toxic. This is especially true for situation of negative real interest rates\, which seems to be over now. The situation has changed since the Ukraine war. The FED and the ECB have increased interest rates  recently. Real rates are still negative. \n  \nWhy should you attend this course? \nIf one of the following descriptions fits to your situation\, the course might be exactly right for you: \n\nYou are responsible in the second line for (financial) risk management and you want a handle on inflation risk\, 2. You have senior management responsibility and you would like to understand your options to mitigate inflation\, 3. You are working in general insurance and you would like to understand where your business is vulnerable to inflation\, 4. You are responsible for product management in your organisations and you would like to understand the impact of inflation on your product settings\, 5. You need to reflect the inflation risk in your ORSA.\n\n  \nWhat approach do we take? \nIn order to have a common understanding of inflation we start with the historic background and pick up recent research on hyperinflation. We also look at the consequences of inflation for our customers\, especially in the retirement age. In the second part we analyse the various impacts of inflation in workshops and discuss potential mitigating actions. \n  \n  \nAnmeldeschluss: 2023-09-11
URL:https://avoe.at/event/eaa-web-session-how-can-actuaries-tackle-inflation-and-its-consequences/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230628T093000
DTEND;TZID=Europe/Vienna:20230630T123000
DTSTAMP:20260416T002735
CREATED:20230414T195227Z
LAST-MODIFIED:20230414T195227Z
UID:10000329-1687944600-1688128200@avoe.at
SUMMARY:EAA Web Session: Assets and Liabilities Management (Part 2: Advanced)
DESCRIPTION:For an insurance company\, ensuring the proper coordination between assets and liabilities in order to achieve targeted financial objectives is of paramount interest. A strategy used to reach such objectives is „asset and liability management“ (ALM in short). ALM can therefore be viewed as any ongoing process that defines\, implements\, and monitors financial strategies to manage assets and liabilities together. \n  \nIn recent years\, the modelling tools used in ALM strategies have become increasingly sophisticated and the technical aspects of current insurance regulation have increased. As a result\, some ALM aspects have become more and more difficult to understand and master. \n  \nThe aim of this training is to: \n– Define what ALM is and describe the typical missions of an ALM department in an insurance company \n– Present the financial risks on which ALM classically focus as well as the requirements of the Solvency II regulation for insurance companies \n– Describe the essential quantitative ALM tools and methods used by insurance companies to evaluate and mitigate the risks \n– Illustrate the different concepts through numerical examples and case studies to make it practical and not just theoretical \n  \nThis ALM training starts with a first part (bookable separately) primarily an introduction to main concepts of ALM and is therefore particularly suited for participants coming from different departments (for instance\, people dealing with own risk solvency assessment techniques or enterprise risk management) and wanting to develop a broader view on what ALM is and how it works. It is also well suited for newcomers or people wanting to refresh their mind on these concepts. Note that the training is not limited to people working in ALM or treasury departments but is also adapted to other departments. \n  \nThis second part is more advanced and intended for those wishing to gain more in-depth expertise on the topics. It includes some mathematical technicity\, but nothing that goes further than a solid high school level. \n  \nThe participants can follow a single part or both. \n  \n  \nAnmeldeschluss: 2023-06-26
URL:https://avoe.at/event/eaa-web-session-assets-and-liabilities-management-part-2-advanced/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230626T093000
DTEND;TZID=Europe/Vienna:20230626T113000
DTSTAMP:20260416T002735
CREATED:20230414T195114Z
LAST-MODIFIED:20230414T195114Z
UID:10000328-1687771800-1687779000@avoe.at
SUMMARY:EAA Web Session: Price Walking\, Demand Modeling & Price Elasticity
DESCRIPTION:Price walking\, demand modeling and price elasticity between theory\, regulation and practice \n  \nIn recent years\, a lot of progress has been made in predictive modeling in theory and practice. This leads in particular to stronger technical models in pricing\, but related issues such as demand modeling are also receiving more and more attention. \n  \nFirst and foremost from the regulatory side: so-called price walking\, which is characterized by the targeted setting of different prices for new and existing customers in order to exploit different price elasticities\, has been banned by the British FCA and is under consultation with EIOPA. \n  \nThat is only one reason to look at demand and price elasticity from an actuarial perspective. In doing so\, we will distinguish between different modeling approaches\, solve extrapolation problems and fundamentally think about inference from observed data to derive price elasticity. Precisely because this price elasticity is an effect of second order\, which cannot be considered without the offered price and the base demand\, which also needs to be estimated\, approaching the problem with a traditional regression mindset will not work. \n  \nFinally\, we will make the concepts discussed above concrete and explore various possible applications in a hands-on case study. \n  \n  \nAnmeldeschluss: 2023-06-22
URL:https://avoe.at/event/eaa-web-session-price-walking-demand-modeling-price-elasticity/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230623T100000
DTEND;TZID=Europe/Vienna:20230623T120000
DTSTAMP:20260416T002735
CREATED:20230414T201918Z
LAST-MODIFIED:20230414T201918Z
UID:10000332-1687514400-1687521600@avoe.at
SUMMARY:EAA Web Session: IFRS 17: Investment Components and Other Non-Service Payments
DESCRIPTION:The needed identification of cash flows not related to services introduces new considerations in the accounting process. Those will be discussed and approaches to achieve an adequate reflection in presentation. That does not only apply to contracts with savings elements\, as in life insurance. As well non-life insurance contracts and reinsurance contracts often contain investment components and premium refunds. As well examples from those areas are presented and discussed. \n  \n  \nAnmeldeschluss: 2023-06-21
URL:https://avoe.at/event/eaa-web-session-ifrs-17-investment-components-and-other-non-service-payments-2/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230614T090000
DTEND;TZID=Europe/Vienna:20230616T123000
DTSTAMP:20260416T002735
CREATED:20230414T195526Z
LAST-MODIFIED:20230414T195526Z
UID:10000330-1686733200-1686918600@avoe.at
SUMMARY:Assets and Liabilities Management (Part 1: Introduction)
DESCRIPTION:For an insurance company\, ensuring the proper coordination between assets and liabilities in order to achieve targeted financial objectives is of paramount interest. A strategy used to reach such objectives is „asset and liability management“ (ALM in short). ALM can therefore be viewed as any ongoing process that defines\, implements\, and monitors financial strategies to manage assets and liabilities together. \n  \nIn recent years\, the modelling tools used in ALM strategies have become increasingly sophisticated and the technical aspects of current insurance regulation have increased. As a result\, some ALM aspects have become more and more difficult to understand and master. \n  \nThe aim of this training is to: \n– Define what ALM is and describe the typical missions of an ALM department in an insurance company \n– Present the financial risks on which ALM classically focus as well as the requirements of the Solvency II regulation for insurance companies \n– Describe the essential quantitative ALM tools and methods used by insurance companies to evaluate and mitigate the risks \n– Illustrate the different concepts through numerical examples and case studies to make it practical and not just theoretical \n  \nThis ALM training starts with this first part that is primarily an introduction to main concepts of ALM and is therefore particularly suited for participants coming from different departments (for instance\, people dealing with own risk solvency assessment techniques or enterprise risk management) and wanting to develop a broader view on what ALM is and how it works. It is also well suited for newcomers or people wanting to refresh their mind on these concepts. Note that the training is not limited to people working in ALM or treasury departments but is also adapted to other departments. \n  \nThe second part (bookable separately) is more advanced and intended for those wishing to gain more in-depth expertise on the topics. It includes some mathematical technicity\, but nothing that goes further than a solid high school level. \n  \nThe participants can follow a single part or both. \n  \n  \nAnmeldeschluss: 2023-06-12
URL:https://avoe.at/event/assets-and-liabilities-management-part-1-introduction-2/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230613T090000
DTEND;TZID=Europe/Vienna:20230613T163000
DTSTAMP:20260416T002735
CREATED:20230414T202322Z
LAST-MODIFIED:20230414T202322Z
UID:10000333-1686646800-1686673800@avoe.at
SUMMARY:EAA Web Session: IFRS 17: The Variable Fee Approach – Basics and Challenges
DESCRIPTION:Starting from the revenue recognition concepts of fee-based services\, we will discuss the qualification criteria of IFRS 17 for the VFA. Basis are certain contractual features\, including the identification of the underlying items belonging to the contract. Further conditions need to be met to qualify insurer’s share in the surplus as (variable) fee. Other contractual features like inheritance and mutualisation may add complexity to the measurement of the cash flows under a contract and their effect will be explained. Changes of the overall variable fee expected to be received under the insurance contracts influence the subsequent measurement of the Contractual Service Margin\, the key difference of the VFA to the general model. The explanation of those differences will be the main part of the afternoon. \n  \n  \nAnmeldeschluss: 2023-06-11
URL:https://avoe.at/event/eaa-web-session-ifrs-17-the-variable-fee-approach-basics-and-challenges/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230505T090000
DTEND;TZID=Europe/Vienna:20230505T123000
DTSTAMP:20260416T002735
CREATED:20230301T223345Z
LAST-MODIFIED:20230301T223345Z
UID:10000302-1683277200-1683289800@avoe.at
SUMMARY:IFRS 17: Guidance for Risk Adjustments
DESCRIPTION: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”. \n  \nIdentifying 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.
URL:https://avoe.at/event/ifrs-17-guidance-for-risk-adjustments/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230421T100000
DTEND;TZID=Europe/Vienna:20230421T120000
DTSTAMP:20260416T002735
CREATED:20230220T122403Z
LAST-MODIFIED:20230220T122403Z
UID:10000289-1682071200-1682078400@avoe.at
SUMMARY:EAA Web Session: The Aftermath of Covid-19: Impact on Disability Insurance Business
DESCRIPTION: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. \nThis 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. \nAnmeldeschluss: 2023-04-19 \nLink: https://actuarial-academy.com/seminars/seminar?No=E0358
URL:https://avoe.at/event/eaa-web-session-the-aftermath-of-covid-19-impact-on-disability-insurance-business/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20230313T100000
DTEND;TZID=Europe/Vienna:20230313T120000
DTSTAMP:20260416T002735
CREATED:20231123T112621Z
LAST-MODIFIED:20231123T112621Z
UID:10000385-1678701600-1678708800@avoe.at
SUMMARY:EAA Web Session 'Loss of Nature & Insurers: Implications & Risk Manag. Approaches'
DESCRIPTION:The consequences of biodiversity and ecosystem loss for humanity as a whole are potentially devastating. Ecosystems and biodiversity\, among others\, can be considered a source of defence against the effects of climate change and are closely interconnected with it. \n  \nOmitting to consider the importance of these aspects\, mitigation and adaptation to the consequences of the loss of nature\, can represent a source of economic risk potentially undermining financial stability\, as well as compromising people’s physical and mental well-being. \n  \nIndustries that rely heavily on nature generate 50 per cent of global gross domestic product. In recent years\, institutional focus to the risks posed by the loss of biodiversity and ecosystems has increased\, also with specific reference to the insurance sector\, both by regulators and by the industry players themselves\, who are aware of the potential consequences for business. \nAnmeldeschluss: 2024-03-11 \nLink: https://actuarial-academy.com/seminars/seminar?No=E0428
URL:https://avoe.at/event/eaa-web-session-loss-of-nature-insurers-implications-risk-manag-approaches/
LOCATION:Online/Streaming
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=UTC:20221130T090000
DTEND;TZID=UTC:20221130T090000
DTSTAMP:20260416T002735
CREATED:20220307T112614Z
LAST-MODIFIED:20220307T112614Z
UID:10000252-1669798800-1669798800@avoe.at
SUMMARY:EAA Web Session: Actuarial Data Science Introplication
DESCRIPTION:Introplication precisely defines the online program. We intend to give a basic and somewhat deeper introduction\, showing the most important highlights from Actuarial Data Science and its applications. We start at the very beginning\, so no prior knowledge is required. \nIn this two-day web session\, we cover a wide range of topics from the basic concepts of artificial intelligence and machine learning\, through modern data processing technologies and cloud computing\, to the mathematical and statistical concepts of data mining. On our way\, we will touch on important use cases in the actuarial environment and deepen one or the other business case. To this end\, we provide a brief insight into the widely used languages (R\, Python) and development environments in the data science context (RStudio\, Anaconda) and take a look at innovative insurance products based on individualized risk assessments (e.g. pay how you drive). The online training will be rounded off with short and concise reflections on data protection issues and principles for the ethical handling of artificial intelligence in the insurance environment. \nRegistration Deadline: 28 November
URL:https://avoe.at/event/eaa-web-session-actuarial-data-science-introplication-2/2022-11-30/
LOCATION:Online/Streaming
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20221125T090000
DTEND;TZID=Europe/Vienna:20221125T170000
DTSTAMP:20260416T002735
CREATED:20211122T163007Z
LAST-MODIFIED:20211122T163510Z
UID:10000036-1669366800-1669395600@avoe.at
SUMMARY:EAA Web Session: Deep Learning with a Focus on Text Analysis
DESCRIPTION:The main purpose of this web session is to get the participants acquainted with DL models\, and applications on text analysis will help achieving this. To this end\, a healthy mix between theory and practice will be provided\, however\, it is important to note that some time will be spend to go through the theoretical foundations of neural networks and hence DL\, as the inner workings of these models are a bit different from the ones of the classic statistical models. \nRegistration deadline: 22 Nov. 2022
URL:https://avoe.at/event/eaa-web-session-deep-learning-with-a-focus-on-text-analysis/2022-11-25/
LOCATION:Online-Veranstaltung (MS Teams)
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20221124T090000
DTEND;TZID=Europe/Vienna:20221124T170000
DTSTAMP:20260416T002735
CREATED:20211122T163007Z
LAST-MODIFIED:20211122T163510Z
UID:10000035-1669280400-1669309200@avoe.at
SUMMARY:EAA Web Session: Deep Learning with a Focus on Text Analysis
DESCRIPTION:The main purpose of this web session is to get the participants acquainted with DL models\, and applications on text analysis will help achieving this. To this end\, a healthy mix between theory and practice will be provided\, however\, it is important to note that some time will be spend to go through the theoretical foundations of neural networks and hence DL\, as the inner workings of these models are a bit different from the ones of the classic statistical models. \nRegistration deadline: 22 Nov. 2022
URL:https://avoe.at/event/eaa-web-session-deep-learning-with-a-focus-on-text-analysis/2022-11-24/
LOCATION:Online-Veranstaltung (MS Teams)
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=UTC:20221108T090000
DTEND;TZID=UTC:20221108T120000
DTSTAMP:20260416T002735
CREATED:20220221T121200Z
LAST-MODIFIED:20220221T121200Z
UID:10000250-1667898000-1667908800@avoe.at
SUMMARY:EAA Web Session: Machine Learning: More Art than Science?
DESCRIPTION:Machine learning is currently on everybody’s lips and seems to be a hot topic for many companies. But what is the story behind machine learning and does it really help us to make more accurate predictions? Are we able to implement systems with the ability to automatically learn and improve from experience without being explicitly programmed via training? Are we talking about black box models which cannot be controlled? What about regulatory requirements? \n… Is machine learning more art than science? \nIn this web session we want to learn more about the fast-growing field of machine learning and give answers to these questions. \nRegistration deadline: 4 November 2022
URL:https://avoe.at/event/eaa-web-session-machine-learning-more-art-than-science/
LOCATION:Online-Veranstaltung (MS Teams)
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20221021T090000
DTEND;TZID=Europe/Vienna:20221021T170000
DTSTAMP:20260416T002735
CREATED:20211122T163253Z
LAST-MODIFIED:20211122T163531Z
UID:10000038-1666342800-1666371600@avoe.at
SUMMARY:EAA Web Session: Macro-Level Actuarial Reserving Models
DESCRIPTION:Over time\, the understanding of all the assumptions behind the typically used reserving models can have grown a bit stale\, and more recent developments might not have percolated all the way to the day-to-day practice. This web session will help the participants to overcome this. \nThe most widely used deterministic macro-level models\, such as the Chain Ladder and the Bornhuetter-Ferguson model\, will be discussed in full detail during this web session\, but also stochastic macro-level models\, such as the OverDispersed Poisson model or ODP model for example\, will be covered. This entails a proper freshing up of the underlying assumptions and how the model is estimated\, but also checks on determining if the chosen model is appropriate for the data at hand\, and under which circumstances one should go for one type of macro-level model or the other. \nIn this web training a detailed overview is provided of the aforementioned models and during the practical sessions\, R code is provided on how to implement most of the discussed topics\, hereby rendering the participants completely autonomous after the webinar. \nDuring the web session however\, even if practical sessions will be organized\, the main focus will be on the theory. \nRegistration deadline: 18 Oct. 2022
URL:https://avoe.at/event/eaa-web-session-macro-level-actuarial-reserving-models-2/2022-10-21/
LOCATION:Online-Veranstaltung (MS Teams)
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20221020T090000
DTEND;TZID=Europe/Vienna:20221020T170000
DTSTAMP:20260416T002735
CREATED:20211122T163253Z
LAST-MODIFIED:20211122T163531Z
UID:10000037-1666256400-1666285200@avoe.at
SUMMARY:EAA Web Session: Macro-Level Actuarial Reserving Models
DESCRIPTION:Over time\, the understanding of all the assumptions behind the typically used reserving models can have grown a bit stale\, and more recent developments might not have percolated all the way to the day-to-day practice. This web session will help the participants to overcome this. \nThe most widely used deterministic macro-level models\, such as the Chain Ladder and the Bornhuetter-Ferguson model\, will be discussed in full detail during this web session\, but also stochastic macro-level models\, such as the OverDispersed Poisson model or ODP model for example\, will be covered. This entails a proper freshing up of the underlying assumptions and how the model is estimated\, but also checks on determining if the chosen model is appropriate for the data at hand\, and under which circumstances one should go for one type of macro-level model or the other. \nIn this web training a detailed overview is provided of the aforementioned models and during the practical sessions\, R code is provided on how to implement most of the discussed topics\, hereby rendering the participants completely autonomous after the webinar. \nDuring the web session however\, even if practical sessions will be organized\, the main focus will be on the theory. \nRegistration deadline: 18 Oct. 2022
URL:https://avoe.at/event/eaa-web-session-macro-level-actuarial-reserving-models-2/2022-10-20/
LOCATION:Online-Veranstaltung (MS Teams)
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=UTC:20221005T090000
DTEND;TZID=UTC:20221005T121500
DTSTAMP:20260416T002735
CREATED:20220610T154742Z
LAST-MODIFIED:20220610T154742Z
UID:10000104-1664960400-1664972100@avoe.at
SUMMARY:EAA Web Session: IFRS 17: Scope and Unit of Account
DESCRIPTION:Kurzbeschreibung: As first step in applying IFRSs to contracts which potentially might qualify to be in the scope of IFRS 17\, it is necessary to identify the potential unit of account under IFRS 17\, as referred to as “contract” under IFRS 17\, which is the basis of considering whether it is within the scope of IFRS 17. We will discuss the considerations to be made in identifying the unit of account\, starting from the legal contract\, the need to combine legal contracts or separate components of a legal contract to achieve a unit which is in line with substance over form. Further we will discuss the exclusion of non-substantive rights or obligations\, i.e. cash flows outside the current contract boundary. On that basis\, the scope definition of an insurance contract and other contracts within the scope of IFRS 17\, as well the scope exclusions are applied. \nAnmeldeschluss: 2022-10-03 \nLink: https://actuarial-academy.com/seminars/seminar?No=E0328
URL:https://avoe.at/event/eaa-web-session-ifrs-17-scope-and-unit-of-account/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;VALUE=DATE:20220919
DTEND;VALUE=DATE:20220924
DTSTAMP:20260416T002735
CREATED:20220706T083059Z
LAST-MODIFIED:20220706T083416Z
UID:10000267-1663545600-1663977599@avoe.at
SUMMARY:Convention A
DESCRIPTION:From 19 to 23 September 2022 the EAA with support of actuview will organize the first CONVENTION A as an online only conference.\nLiving the motto “Connecting Knowledge”\, actuarial experts from all around the world will join the unique format of the CONVENTION A: Over five days and throughout all time zones\, actuaries and partners from science and industry will come together to discuss the most relevant topics of the profession. Connecting knowledge and people\, opening global perspectives and shaping the future together – that’s what CONVENTION A stands for! \nThe event programme is jointly created by many institutions from the actuarial community and companies active in the insurance industry who will contribute at least one four-hour programme block during the event week. A highlight of each of the five congress days will be the plenary sessions. Virtual dialogs will be initiated with top decision-makers from the international business\, academic and political communities\, together with professionals and executives from the finance and insurance industries and beyond. Topics of the future – be it climate change\, mobility or artificial intelligence will be viewed and discussed from different perspectives. \nRegister here!
URL:https://avoe.at/event/convention-a/
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=UTC:20220623T100000
DTEND;TZID=UTC:20220623T120000
DTSTAMP:20260416T002735
CREATED:20220221T090130Z
LAST-MODIFIED:20220221T120444Z
UID:10000054-1655978400-1655985600@avoe.at
SUMMARY:EAA Web Session: How to Read the New IFRS Balance Sheet for Insurers
DESCRIPTION:The goal of the two hours web session is to provide participants with a comprehensive introduction on the new IFRS reporting requirements for insurance contracts after go-live of IFRS 17. Focus will be the illustration of the new reporting requirements of IFRS 17 to „demystify“ the new presentation requirements on the IFRS balance sheet and the statement(s) of financial performance (Profit and Loss as well as Other Comprehensive Income). The web session will also briefly compare key aspects of the new reporting requirements to today’s IFRS 4-reporting practice\, contain a brief summary of the main information which can be found within the new IFRS 17 reporting and cover the different aspects for primary and reinsurance related business. \nOverall\, the goal is to enable participants to understand the IFRS 17 reporting and help transferring the reporting requirements into the specific situation of the participant. It is thus intended to prepare participants for implementation\, testing\, reviewing and consulting with management\, accounting and auditors. \nRegistration deadline: 21 June 2022
URL:https://avoe.at/event/eaa-web-session-how-to-read-the-new-ifrs-balance-sheet-for-insurers/
LOCATION:Online-Veranstaltung (MS Teams)
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=Europe/Vienna:20220614T093000
DTEND;TZID=Europe/Vienna:20220614T124500
DTSTAMP:20260416T002735
CREATED:20220207T084720Z
LAST-MODIFIED:20220207T084720Z
UID:10000042-1655199000-1655210700@avoe.at
SUMMARY:EAA Web Session: IFRS 17 – The Premium Allocation Approach
DESCRIPTION:To enhance the applicability of the PAA\, judgment of the details of the eligibility criteria is needed. We will discuss those details and the hurdles included. Further\, we will discuss the details of the PAA measurement particularly in comparison with traditional methods which might be applied as approximation. The combination of the simplified approach together with the general model to be applied to the claims liability is a further topic. \nRegistration deadline: 12 June 2022
URL:https://avoe.at/event/eaa-web-session-ifrs-17-the-premium-allocation-approach/
LOCATION:Online-Veranstaltung (MS Teams)
CATEGORIES:European Actuarial Academy (EAA)
END:VEVENT
END:VCALENDAR