3
IES HISTORY
2002 “Brainstorming”
2003-4 International Surveys
2005 + Country Initiative and IES “Tool Kit”
2008 + IAA MWG Endorsed & Adopted IES
5
IES Outreach Effort
No Cost to participating companies
SOA confidentially compiles data
Local actuaries supervision
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
19
Experience
Caution
• Early studies• “Data cleaning” is prospective (future)• Credibility (small samples)
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