PROGRAM
VENUE
COSMOCAIXA  
Address: Isaac Newton, 26 - 08022 Barcelona, Spain Google Maps

The building's history started more than a century ago, in 1904, when the architect Josep Domènech i Estapà used the Modernista style of the time to construct the Amparo de Santa Lucía institution, in operation for 75 years.
In 1979 the "la Caixa" Foundation commissioned the architects Jordi Garcés and Enric Sòria to remodel and enlarge the building to house the Science Museum, becoming Spain's first interactive museum dealing with scientific themes. The subsequent refurbishment to transform the museum into CosmoCaixa was designed by the architects Robert and Esteve Terradas and the new centre opened its doors on the 25th of September 2004.

 

PROGRAM
SUNDAY, OCTOBER 22
   
18:00 - 21:00 WELCOME RECEPTION
L'AQUARIUM
Address: Moll d'Espanya del Port Vell, s/n 08039 Barcelona Google Maps
On Sunday, October 22, the Reception and Welcome Dinner will be held at the Aquarium in Barcelona. This is a unique and outstanding attraction within the city, located on the shores of the Mediterranean Sea. Here it is possible to marvel at over 11,000 aquatic animals that are kept here. This event is designed as the perfect starting point for the coming days in which we hope, you will be able to enjoy the city.
   
Dress Code: Smart Casual  

 

MONDAY, OCTOBER 23
           
  AUDITORI SALA ALFA SALA BETA SALA GAMMA SALA TAU
08:00 - 09:00 REGISTRATION
09:00 - 09:45 WELCOMING CEREMONY
09:45 - 11:00 CONFERENCE 1 - NICHOLAS BARR
11:00 - 11:30 COFFEE BREAK

11:30 - 13:30

PARALLEL SESSIONS
11:30 - 12:30   PAPERS 1, 7, 14 PAPERS 16, 27, 30 PAPERS 8, 10, 11  
12:30 - 13:30   PAPERS 1, 7, 14 PAPERS 16, 27, 30 PAPERS 8, 10, 11  
13:30 - 14:30 LUNCH
14:30 - 16:30 PARALLEL SESSIONS
14:30 - 15:30   PAPERS 21, 23, 6 PAPERS 31, 32, 5 PAPERS 13, 4, 19  
15:30 - 16:30   PAPERS 21, 23, 6 PAPERS 31, 32, 5 PAPERS 13, 4, 19  
16:30 - 17:00 PRESENTATION BY MR. ERMANNO PITACCO
17:00 - 18:15 CONFERENCE 2 - STEPHANE LOISEL

 

MONDAY, OCTOBER 23
PAPER AUTHOR(S)
1 Why the Deferred Annuity Makes Sense Steven Haberman, Stephen Thomas and Anran Chen
4 Long-Term Care Models and Dependence Probability Tables by Acuity Level: New Empirical Evidence from Switzerland Joël Wagner and Michel Fuino
5 How a Cause-of-death Reduction can be Compensated in Presence of Heterogeneity? A Population Dynamics Approach Héloise Labit Hardy, Sarah Kaakai, Séverine Arnold and Nicole El Karoui
6 Solvency Requirement in a Unisex Stochastic Mortality Model Montse Guillen, An Chen and Elena Vigna
7 The Inter-Relatedness of the Financial Sector and Annuitization: A State-Aggregate Approach Patricia Born, Hugo M. Montesinos-Yufa and E. Tice Sirmans
8 Addressing Longevity Heterogeneity in Pension Scheme Design and Reform Mercedes Ayuso, Jorge Miguel Bravo and Robert Holzmann
10 Basis Risk in Index Based Longevity Hedges: A Guide for Longevity Hedgers Andrew Cairns and Ghali El Boukfaoui
11 It Takes Two: Why Mortality Modelling is more than modelling one Mortality Trend Johanne Schupp, Matthias Börger, Jochen Russ and Aihua Zhang
13 A Class of Random Field Memory Models for Mortality Forecasting Yahia Salhi, P. Doukhan, D. Pommeret and J. Rynkiewicz
14 One Size Fits All? Drawdown Structures in Australia and The Netherlands: A Utility Study for Heterogenous Income Levels Jennifer Alonso García and Michael Sherrisy
16 Collective Defined Contribution Plans - Backtesting Based on German Capital Market Data 1955 - 2015 Oskar Goecke
19 Marital Status, Mortality and Pensions: The Special Case of Being an Unmarried Elderly Woman in Spain Estefanía Alaminos and Mercedes Ayuso
21 Using Fuzzy Set Theory to Evaluate Medically Underwritten Life Annuities Laura González-Vila, Jorge de Andrés and Aihua Zhang
23 Nonfinancial Defined Contribution Pension Schemes: Construction of Annuity Divisors Using the Direct Method Poontavika Naka, Carmen Boado-Penas, Jacques Janssen and Raimondo Manca
27 Alternative Measure of the (In)Adequacy of Public Pensions During Retirement Manuela Bosch Príncep and Oriol Roch
30 Distributing Long-Term Saving Policies in a Low-Saving Environment: Lessons from South Africa Rob Rusconi
31 Personal Financial Planning Project Patricia Born, Anne Eyraud-Loisel and Baptiste Dieltens
32 A Cross-Country Study of Saving and Spending in Retirement Hazel Bateman, Jennifer Alonso-Garcia, Johan Bonekamp, Arthur van Soest and Ralph Stevens
     

 

21:00 - 23:30 GALA DINNER
PARANIMF DE LA UNIVERSITAT DE BARCELONA
Address: Gran Via de les Corts Catalanes, 585 08007 Barcelona Google Maps
On Monday, October 23, the gala dinner will be held at the Auditorium of the University of Barcelona, a neo-Romanesque monument built in the 18th century, which breathes a blend of history, tranquility and knowledge.
During the gala dinner, awards will be given to the best works, according to the criteria of the scientific committee.
  • Aperitif: Catalonian cava (free access)
  • Castellers exhibition (free access): Castells, or human towers, are one of Europe's most genuine and unique cultural displays. Under the traditional motto of "strength, balance, courage and seny" (a Catalan expression encompassing virtues such as good sense and calmness), castells are an excellent way of showcasing Catalonia to the world. On November the 16th, in Nairobi (Kenya), Unesco approved the inscription of human towers on the Representative List Of the Intangible Cultural Heritage of Humanity, giving then a universal recognition to this element. The Unesco statement said: "Human towers are recognized by Catalan people as an integral part of their cultural identity, transmitted from generation from generation and providing community members a sense of continuity, social cohesion and solidarity."
  • Gala Dinner
   
Dress Code: Business Formal

 

TUESDAY, OCTOBER 24
         
08:00 - 17:30 COLLOQUIUM SESSIONS
         
  AUDITORI SALA BETA SALA GAMMA SALA TAU
09:00 - 09:30 REGISTRATION
09:30 - 10:45 CONFERENCE 3 - JENS PER NIELSEN
10:45 - 11:00 PRESENTATION ICA CONFERENCE 2018 - BERLIN, GERMANY
11:00 - 11:30 COFFEE BREAKS
11:30 - 13:30 PARALLEL SESIONS
11:15 - 12:15   PAPERS, 2, 3, 9 PAPERS 24, 26 PAPERS 18, 25, 15
12:15 - 13:15   PAPERS, 2, 3, 9 PAPERS 24, 26 PAPERS 18, 25, 15
13:30 - 14:30 LUNCH
14:30 - 16:30 PARALLEL SESSIONS
14:30 - 15:30   PAPERS 12, 20, 22 PAPERS 28, 29, 17  
15:30 - 16:30   PAPERS 12, 20, 22 PAPERS 28, 29, 17  
16:30 - 18:00 CLOSING EVENTS

 

PAPER AUTHOR(S)
2 Around the Life-Cycle: Deterministic Consumption-Investment Strategies Mogens Steffensen and Marcus C. Christiansen
3 The Life Cycle Model with Recursive Utility: Defined Benefit vs Defined Contribution Knut Aase
9 Self-Selection of Financial Risk Munir Hiabu, Jens Perch Nielsen, Russell Gerrard and Ioannis Kyriakou
12 Rising Interest Rates and Lapse Risk for Life Insurers Elia Berdin, Helmut Grundl and Christian Kubitza
15 Adapting to Changes in Life Expectancy in the Finnish Earnings-Related Pension Scheme Kaarlo Reipas and Mikko Sankala
17 Reviewing Dependencies Among Longevity and Mortality Risks in Standard Solvency Capital Requirements Jaume Belles Sampera, Miguel Santolino and Antonio Rubio Pallarés
18 Who Wants to Live Forever? An Analysis of the Maximum Lifespan in the US Martin Genz, Jan Feifel and Markus Pauly
20 Behavioral Patterns of Long Term Saving: Predictive Analysis of Adverse Behaviours on a Saving Portfolio Babacar Sow and Thomas Behar
22 Nudging Long-Term Savings. Might the "Save More Tomorrow" Approach Work in Spain? Jesús María García Martínez and José Vila
24 A Non-Homogeneous Semi-Markov Approach for the Calculation of the Balance Sheet of a Health Fund Guglielmo D’Amico, Fulvio Gismondi, Montserrat Guillen, Jacques Janssen, Raimondo Manca and Ernesto Volpe di Prignano
25 Extension, Compression, and Beyond – A Unique Classification System for Mortality Evolution Patterns Martin Genz, Matthias Börger and Jochen Russ
26 Lapse Tables for Lapse Risk Management: A Competing Risks Approach Xavier Milhaud and Christophe Dutangy
28 The Life Insurance on Several Heads: Sensitivity Analysis to Increases in Life Expectancy Armando Nieto Ranero
29 A Short Discussion on a Simplified Approach of Model Risk Assessment Associated with the "Stochastic" Models of the Prospective Mortality Tables Anani A. OLYMPIO

 

ABOUT THE COLLOQUIUM
In the Life Insurance Colloquium of the International Actuarial Association (IAALS) "Long-Term Saving in an Ageing World" a number of the following topics will be addressed:
  • Longevity and ageing
  • Limits to human life
  • Mortality at older ages and related trends
  • Stochastic Modelling of Longevity
  • Longevity risk
  • Longevity bonds
  • Protection against longevity
  • Financial and real assets to cover long term liabilities
  • Annuities, programmed withdrawals, other withdrawals
  • Long term care saving products.
  • Behavioral patterns of long term saving
  • Barriers to saving
  • Interest rates: how to survive in a low interest rate environment
  • Public pensions and the need to top them up
 
This topics and others will be discussed during the Parallel Sessions, where 33 papers previously related by the Scientific Committee will be presented, as prepared by actuaries from Spain, United Kingdom, Norway, Australia, the United States, Belgium, Denmark, and Germany, among other countries.
 
The Scientific Committee is made up of 10 leading figures from the academic and professional spheres, both national and overseas, chaired by Diego Valero, one of the most pre-eminent specialists in pensions in Spain, and member of the advisory group of the Pacto de Toledo.
 
The Scientific Committee will award the best work in the following categories:
  • Theoretical contributions: For the best academic research.
  • Practical contributions: For the best essay or presentation of the applied work.
 
The prizes ($ 1,000 each prize) will be presented during the gala dinner on Monday, October 23, which will take place in the auditorium of the historic building of the University of Barcelona.