Assumption Management and Calculation
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
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