Insurance Market Behavior

and Health Insurance

Seminar

Hangzhou, PRC

4-8 December 2006

Howard J. Bolnick, FSA, MAAA, Hon FIA

Adjunct Professor, Kellogg School of Management
Northwestern University
Chair, Health Section of the International Actuarial Association

With teaching assistance from

Song Song Liao, MunichRe – Beijing Office

ORGANISED BY
China Region Committee, Society of Actuaries

Society of Actuaries of China

VENUE

Hangzhou Liuying HotelNo. 6 Qing Bo Qiao He Xia Nan Shan Road, Hangzhou China

PROGRAM

Morning Sessions are scheduled from 9:15 am – 12:00 pm with one 15 minute break. Afternoon Sessions are scheduled from 1:15 pm – 4:00 pm with one 15 minute break.

MONDAY, 4 DEC

Morning
Afternoon /

Introduction and Seminar Overview ( please click for full syllabus)

Opening SessionPART I – INSURANCE MARKET BEHAVIOR

Topic 1: Risk Shifting Using Insurance

Topic 2: Insurance Market Behavior and Failure

Topic 2A Markets with Asymmetric Information
Topic 2B Insurance Company Responses to Consumer Behavior

TUESDAY, 5 DEC

Morning and Afternoon / Topic 2C Feasibility of Insurance

WEDNESDAY, 6 DEC

Morning
Afternoon / Topic 2D Market Structure and Insurance Market Behavior
PART II – HEALTH INSURANCE

Topic 3: Insurance Market Behavior and Health Insurance

Topic 4: Health Insurance Environment

THURSDAY, 7 DEC
Morning and Afternoon

FRIDAY, 8 DEC

Morning

Afternoon

/ Topic 5: Private Health Insurance Products
Topic 5A: US Medicare Prescription Drug Benefit – A Study of Product Design Problems and Principles

Topic 5B: Private Medical Expense Insurance- Voluntary Health Insurance

Topic 5C: Health Insurance Products and Reinsurance in China
Topic 5D: Other Health Insurance Products (Only as Time Allows)
Exam


WHY SHOULD YOU ATTEND?

The goal of this a one-week intensive Seminar is to provide attendees with a thorough understanding of economic behavior of insurance markets, and, to apply this understanding to practical problems of health insurance.

The Seminar begins by analyzing characteristic economic market behavior of consumers and insurance companies (Insurance Market Behavior) and the consequences of their behaviors to the feasibility, profitability, and viability of insurance products (Market Failure). Insurance Market Behavior allows us to identify “critical factors” that affect common health insurance products, and, to understand how insurance companies design effective Risk Management Tools to compensate for Market Failure. This behavioral approach to understanding insurance and, more particularly, health insurance, is designed to provide Seminar attendees with a useful theoretical framework and practical conceptual tools needed to design and manage insurance products.

WHO SHOULD ATTEND?

This Seminar covers intermediate to advanced insurance economics and health insurance concepts. It is recommended for actuaries and non-actuaries who:

·  Have attended and mastered basic course material covering actuarial mathematics and/or general insurance concepts; or,

·  Have practical experience in insurance companies, insurance consulting firms, or public healthcare programs; and,

·  Have an interest in improving their understanding of insurance economics and applying this knowledge and their educational and work experience to specific problems of health insurance product development and portfolio management; and,

·  Have strong English language reading and listening skills as all the lectures and most of the discussions will be in English.

Our lectures, projects, and readings assume only a basic knowledge of health care financing and health insurance products, although familiarity with health care and health care financing in China is helpful.

This is an intensive learning experience, covering a great deal of material. It is equivalent to a full semester at university. A successful attendee will spend as much time in advance preparation and evening work on readings and projects as time spent attending lectures.

Those attendees who chose to become health practitioners will be able to use information from the Seminar as a solid base upon which to build their health insurance skills. However, additional self-study will be needed to become a competent health actuary.

Enrolment is limited to provide the optimal learning environment.

CONTINUING PROFESSIONAL DEVELOPMENT AND PROFESSIONAL DEVELOPMENT CREDIT

Actuarial members may find this seminar a useful contribution to their personal professional development. The amount of hours recorded is left to the discretion of the individual. However, a maximum of 15 hours may be counted towards CPD requirements.

Members of the Society of Actuaries should visit the SOA website (www.soa.org) for information on PD credits in due course.

LODGING/MEALS

Attendees who need accommodation at Hangzhou Liuying Hotel may make room reservations with the Society of Actuaries of China (see registration form). Lunches and dinners will be provided. Attendees will be responsible for their own hotel accommodation expenses.

ATTIRE

Smart casual attire is appropriate for this seminar.

PREPARING FOR THIS SEMINAR

This Seminar requires advanced preparation. A complete set of Lecture Notes, syllabus, Readings and Lecture Resources from this seminar are found in the Health Seminar CD-ROM that will be sent to attendees 4 weeks before the seminar. Attendees should first read the entire syllabus. Immediate attention needs to be given to the Problem Set and to key Seminar readings. Attendees are expected to complete this assignment before the Seminar begins and to hand it in on Day 1 of the seminar. Please print your own copy of each day’s Lecture Notes and bring them with you to reference and to take notes on during class. Please do not change any formats when printing.

ABOUT THE SPEAKER

Howard J. Bolnick, FSA, MAAA, Hon FIA

Mr. Bolnick is an Adjunct Professor at Northwestern University Kellogg Graduate School of Management where he teaches a course “Risk Bearing Markets and Insurance”. He is a co-founder and Chairman of the Board of InFocus Financial Group, LLC, a venture to develop and to sell health and other innovative insurance products using creative direct response methods. Mr. Bolnick is a Director of Third Coast Insurance Company, a subsidiary of Health Care Service Corp. and a Member of the Board of the Illinois Comprehensive Health Insurance Plan.

Throughout his business and professional career, Mr. Bolnick has been heavily involved in health care financing. He has written numerous articles and speaks regularly on health insurance, managed care and health policy subjects. He has served in leadership positions in important professional, trade and civic organizations and is a Past President of the SOA. Mr. Bolnick is recognized as an authority on health care financing matters.

(Please click here for full resume)

There will be teaching assistance from:

Song-Song S. Liao
General Manager Health Development
Munich Reinsurance Co, Beijing

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Insurance Market Behavior and

Health Insurance Seminar

Hangzhou, 4 - 8 Dec 2006

R E G I S T E R by 10 Nov 2006

FAX TO 86 10 6607 0927

REGISTRATION FEE RMB 2,000

PAYMENT METHOD

For overseas delegates, registration fee will be collected in cash at the reception desk on 4 Dec 2006 and a receipt will be issued on-site. To work effectively, kindly bring the exact amount (RMB 2,000).

Registration fee will still be collected for cancellations made after 20 Nov 2006 and for no-shows.

CONTACT INFORMATION

Ms. Donghong Liu, Society of Actuaries of China, c/o Insurance Association of China

No 22 Xijiaominxiang, Xicheng District, Beijing 100031 PRC

Tel: 86 10 6607 0927 (Office) / 1391 021 3582 (Mobile)

Fax: 86 10 6607 0970

Email:

……………………………………………………………………………………………………………………….

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Please print clearly:

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Name: ______

First Name Last Name

Company: ______

Dept.: ______Job Title: ______

Mailing Address (for CD-rom): ______

______

Tel: ______Fax: ______Email (compulsory): ______

Actuarial Member of ______Non-member

Hotel Reservation (Hangzhou Liuying Hotel, www.liuyinghotel.com):

Room Type and Rate (inclusive of breakfast and service charge):

Superior Room RMB 488 nett per night

Lake View Superior Room RMB 588 nett per night

Executive Room RMB 588 nett per night

Deluxe Room RMB 588 nett per night

Room Type: ______No. of Room: ______Occupancy: Single / Double*

For double occupancy, please state the other guest’s name: ______

Arrival Date ______Departure Date ______

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