LAC Seminar 2013 live tweeting complete list

A few people have mentioned that they found my “live blogging” or tweeting of the 2013 LAC Seminar in Cape Town and Joburg useful. I used the hastag #LACseminar2013. I’m repeating all of them here in case they’re useful in a slightly more long-lived medium of my blog. I didn’t cover all the sessions – below is all there is and yes, in reverse order for bizarre reasons I’m not going to go into now.

@23floor: Also, envisaged that product specifications, including commission, must be filed with regulator #LACseminar2013 #microinsurance

@23floor: And yes, a range of market conduct, board composition requirements are envisaged for micro insurance #LACseminar2013 #microinsurance

@23floor: Raw (cleaned and anonymize) data *might* be released publically. I would definitely support this. Data should be open #LACseminar2013

@23floor: PA90 understates mortality on average, but more under for males and only a little over for females #LACseminar2013

@23floor:The earlier you retire, the longer you’ll live. Early retirement pensioners have lower mortality #LACseminar2013

@23floor:Still insufficient data to assess long term mortality improvements? 2005 starting point too late, an awful pity #LACseminar2013

@23floor:Huge differences in gender splits across industries #LACseminar2013 that is expected, but care in analysing gender, industry differences

@23floor:Study had 80% of females from government employees. Around double males #LACseminar2013 surprising

@23floor:Only 16% early retirements (not due to ill health) #LACseminar2013

@23floor:31% of pensioners retired due to ill health. Seems high! #LACseminar2013

@23floor:.@JRvdMerwe policies can auto-renew. For cheaper cars, micro insurance definitely an option #LACseminar2013

@23floor:Pensioner mortality study used almost 3 million life years of exposure. 120,000 deaths #LACseminar2013

@23floor:New standard table for assured lives in the works if data quality sufficient #LACseminar2013

@23floor:Mortality experience on New Gen products significantly lower than on Old Gen. Underwriting differences? #LACseminar2013

@23floor:Young and old female smoker appear to have lighter mortality than non smokers. Clearly a data problem! #LACseminar2013

@23floor:Younger ages, below age 35, have lower mortality than prior investigation in 2001 #LACseminar2013

@23floor:“New Gen mortality analysis based in 2003 to 2010 data.” That’s finally credible! #LACseminar2013

@23floor:CSI committee update – different presenter, same jokes. They’re funny though so that’s ok. #LACseminar2013

@23floor:Market conduct issues are particularly important in the micro insurance space #LACseminar2013

@23floor:Microinsurance licenses might be appropriate for many existing insurers as well as unregulated entities. #LACseminar2013

@JRvdMerwe: @23floor key feature that makes a product “microinsurance” is 12 month limit. So will motor insurers be able to go MI route #LACseminar2013

@MelloryL: @23floor is patiently waiting for updates to #microinsurance regulation, but work continues by the 20 committee members #LACseminar2013

@23floor:“The Board ultimately signs off the ORSA. Likely supported heavily by CRO and/or Appointed Actuary” #LACseminar2013

@23floor:Btw, ORSA is Own Risk and Solvency Assessment #LACseminar2013

@23floor:“Solvency needs to expressed in quantitative terms, complemented with quantitative information” #LACseminar2013

@23floor:“The Board should consider the SCR in light of the ORSA and challenge management on whether the SCR is appropriate” #LACseminar2013

@23floor:“ORSA should cover assessment of regulatory and economic capital now and in future” #LACseminar2013

@23floor:ORSA guidance contains 22 guidelines. 8 of these are specific to Group ORSA #LACseminar2013

@23floor:“ORSA is not intended to be an Internal Model requirement by stealth” #LACseminar2013

@23floor:KPMG survey suggests most UK insurers will prepare ORSAs in 2013. Might be delayed further now given Solvency II delays. #LACseminar2013

@23floor:Only a couple of companies represented on the ORSA Task Group have an ORSA already. #LACseminar2013

@23floor:ORSA is one of the areas insurers are least ready for #LACseminar2013

@23floor:Ok, ORSA coming up now at #LACseminar2013 I didn’t cover this in CPT so will tweet some interesting pieces now.

@23floor:#LACseminar2013 on in Joburg today. Same content as Tuesdat so no new tweets. Slides on ASSA website in a few days.

@23floor:PA90 doesn’t seem to be a good fit for male pensioner mortality. Experience much higher in early years. (Ages 50 to 65) #LACseminar2013

@23floor:Ill health retirements associated with permanently higher mortarlty in retirement. #LACseminar2013

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.

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