Assumption Management and Calculation
Instructor : Jeong-hoon Park
Course Format : on-line
Course Duration : 5 h 10m
Study Period : 60 day
Course Fee : 1400$
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 : 1400$
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
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 in 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 (TBD)
[Open February 2025]
- Practical Training on PV Generation Using Actuarial Tables
- Profit and Loss Analysis for New Products
- Development of Risk Rates
4. Assumption Management and Calculation
-Methodologies for assumptions of risk/policyholder behavior/expense allocation/economics
- Actuarial Assumption Management Strategies (Audit Trail)
5. Advanced IFRS 17 Actuarial Closing
- 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 January 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 coming]
- Biz Planning
- Selection of KPIs under IFRS 17 and K-ICS Standards
- Variable Product Hedging
10. Actuarial Software
[Open in 2025]
- Understanding Actuarial Software
- Pricing Practice
- Valuation Practice
- Internal Management Practice (Business Planning, ALM, etc..)
11. ERM (Enterprise Risk Managment)
[Open in 2025]
- Basic ERM Risk Management
- Insurance Risk Concept and Internal Model
12. Reporting
- Supervisor Report Preparation Method
- Automation System Example