Assumption Management and Calculation

This course helps participants acquire advanced and diverse assumption methodologies as well as detailed actuarial and accounting closing techniques required for IFRS 17 financial reporting.

Instructor : Jeong-hoon Park

Course Format : on-line

Course Duration : 5 h 10m

Study Period : 60 day

Course Fee : $700

Number of Lectures : 8

Assumption Management and Calculation

This course helps participants acquire advanced and diverse assumption methodologies as well as detailed actuarial and accounting closing techniques required for IFRS 17 financial reporting.

 

Instructor : Jeong-hoon Park

Course Format : on-line

Course Duration : 5 h 10m

Study Period : 60 day

Course Fee : $700

Number of Lectures : 8

Introduction

This training module is designed to help participants learn the concept of required capital as defined in the K-ICS standards and how to apply it in practice.
The course provides an in-depth exploration of the key contents of the K-ICS standards, including the definition and calculation criteria for required capital.

Furthermore, it systematically explains the methodologies for calculating available capital with various illustrative examples. Through this, participants will gain a clear understanding of the relationship between required capital and available capital, while acquiring the skills needed for evaluation and analysis.

The course presents practical methodologies based on common real-world scenarios and includes hands-on exercises using actual data.

Ultimately, this training aims to equip participants with the essential knowledge and capabilities for capital management under the K-ICS framework.

Target Audience

  • Actuarial practitioners working at insurance companies, reinsurance companies, and actuarial firms
  • Experts responsible for insurance product development, actuarial risk management, reserve calculations, and mathematical modeling
  • Actuaries who need practical understanding of the latest insurance-related regulations and frameworks such as IFRS 17 and K-ICS
  • Consultants and data analysis professionals engaged in actuarial work

Methodology for Calculating Risk Assumptions

Methodology for Policyholder Behavior Assumption Calculation

Methodologies for assumptions of expense allocation

Actuarial Assumption Management Strategies (Audit Trail)

Methodology for Calculating Risk Assumptions

Methodology for Policyholder Behavior Assumption Calculation

Methodologies for assumptions of expense allocation

Actuarial Assumption Management Strategies (Audit Trail)

Course Category

1. Actuarial Fundamentals
[Open March 2025]

- Premium and Surrender Value Calculation using Actuarial Tables
- Understanding Actuarial Science

2. Company-wide Training
(IFRS 17 / K-ICS)

- Examples of IFRS 17 Accounting Treatments
- Introduction to K-ICS
- Direction of Profit and Loss Management under IFRS 17

3. Product Development
[Open April 2025]

- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance

4. Assumption Management and Calculation

-Methodologies for assumptions of risk/policyholder behavior/expense allocation/economics
- Actuarial Assumption Management Strategies (Audit Trail)

5. IFRS 17 Actuarial Closing Practice

- Advanced IFRS 17 Actuarial Closing Practices

6. K-ICS

- Overview of Risk Management in Insurance Companies
- Understanding Market Risk
- Understanding Interest Rate Risk
- Understanding Insurance Risk
- Insurance Risk Internal Model

7. Reinsurance
[Open in April 2025]

- Traditional Reinsurance
- Co-Reinsurance
- Excel-Based Reinsurance Profit and Loss Forecasting

8. Management under IFRS 17 and K-ICS Standards

-Direction of Profit and Loss Management under IFRS17
- ALM-Based Management
- MCEV-Based Management
-Risk Based Asset-Liability Portfolio Management

9. Managerial Accounting
[Open April 2025]

- Biz Planning
- Selection of KPIs under IFRS 17 and K-ICS Standards
- Variable Product Hedging

10. Actuarial Modeling Course (New Product Modeling)
[Open in 2025]

- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance

11. Actuarial Modeling Course (IFRS 17 Closing Practice)
[Open in 2025]

- Term Insurance
- Cancer Insurance
- Savings Insurance
- Annuity Insurance
- Variable Insurance

12. ERM (Enterprise Risk Managment)
[Open in 2025]

- Basic ERM Risk Management
- Insurance Risk Concept and Internal Model

13. Reporting

- Supervisor Report Preparation Method
- Automation System Example

14. Product Planning
[Open in 2025]

- Product Introduction
- Product Structure
- Market Understanding
- Risk Rate

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