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SOA International Experience Study (IES)

SOA International Experience Study (IES). Bogota, Colombia November 23, 2011. Columbia Actuaries Meeting. SOA IES Overview “ Beware Greeks Bearing Gifts ”. IES HISTORY “Brainstorming” 2003-4 International Surveys 2005 + Country Initiative and IES “Tool Kit”

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SOA International Experience Study (IES)

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  1. SOA International Experience Study (IES) Bogota, Colombia November 23, 2011

  2. Columbia Actuaries Meeting SOA IES Overview “ Beware Greeks Bearing Gifts ”

  3. IES HISTORY • “Brainstorming” • 2003-4 International Surveys • 2005 + Country Initiative and IES “Tool Kit” • 2008 + IAA MWG Endorsed & Adopted IES

  4. IES Organization SOA IES IAA MWG Corporate Contributors

  5. IES Outreach Effort • No Cost to participating companies • SOA confidentially compiles data • Local actuaries supervision

  6. Finances

  7. Corporate Sponsors • AXA • ING • MetLife • New York Life • Prudential Financial (US) • Zurich

  8. Finances

  9. Finances • MOST IMPORTANT • Volunteer Time! • Over 50 companies have participated • Over 1,000 hours invested

  10. Local Country Initiative • Local Industry Meetings • Rio de Janiero – September 2004 • Warsaw – October 2004 • Guatemala City – August 2005 • Taipei / Seoul / Bangkok – August 2007 • Hanoi – July 2008 • Tallinn – May 2009 • Zagreb – September/October 2011

  11. Local Country Initiative • Local Actuarial Association Sponsors • Vietnam Chief Actuaries (2006) • Actuarial Society of Philippines (2008) • Estonia Actuarial Society (2009) • Hong Kong Actuarial Society (2010) • Caribbean Actuarial Association (2010)

  12. Country Experience • Risk exposure is country specific • Examples • Argentina • Caribbean • Estonia • Philippines • Poland • Vietnam

  13. Experience • Caution • Early studies • “Data cleaning” is prospective (future) • Credibility (small samples)

  14. Contacts • Bill Horbatt: horbatt@actmasol.com • Ronora Stryker: rstryker@soa.org

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