This English translation of “2020 Annual Report” of the Institute of Actuaries of Japan is
an unofficial translation. Only its original Japanese texts have effect, and the translation is
to be used solely as reference material to aid in the understanding of the original one.
この「2020 年度事業報告」の翻訳は公定訳ではありません。効力を有するのは日本語の資料であり、翻訳はあくまでその理解を助けるための参考資料です。

2020Annual Report
From April 1, 2020 to March 31, 2021

1. Matters concerning Annual General Meeting of Members
The General Meeting of Members was held on June 18, 2020 at the main conference room of the Instituteof Actuaries of Japan, and“Report on a summary of business activities in 2019”
was presented, and the following two proposals were put before the meeting and approved as
proposed:
Item 1: 2019 Approval of a Balance Sheet and Net Assets Variation Statement as well as
Inventory of Properties
Item 2: Approval of amendments to the Articles of Incorporation (*)(*) Amendments that allow the exercise of voting rights by electromagnetic method<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, members were restrained from visiting
the general meeting venue, while the Bill was posted on the members-only page of our website andproxy voting by means of an electromagnetic method was recommended. By encouraging the use of
proxy voting, we have implemented operations that allow members to exercise their voting rights evenin the situation of COVID-19 pandemic. (The number of voting rights exercisers was 3,986, of which
2,952 were by means of the submission of a power of attorney.)

2. Movement of members
Movements of members during the current year were as follows: for corporate members, 3 members
withdrew from the IAJ; for individual members, 327 members were newly admitted, and 201 members
withdrew from the IAJ. The number of members as of the end of March 2021 is as shown in the tablebelow.
Fellows
Associates
Students
Semi-total
Corporate members
Total

1,931
1,297
2,144
5,372
107
5,479

3. Business report[A. Related to examination]1

persons
persons
persons
persons
corporations
persons/corporations

(A1) Implementation of qualification examination
A 3-day qualification examination was held from December 14 to 16, 2020 in Tokyo (at TOC
Gotanda) and Osaka (at Temma Training Center) and the successful examinees were announced on
February 16, 2021.
The total number of examination subjects for the primary examination was 3,591 subjects and thetotal number of subjects passed was 833 subjects. There were 84 examinees who passed all basic
subjects.
Mathematics

Life Insurance
Mathematics

Non-life
Insurance
Mathematics

PensionMathematics

Accounting,Economics andInvestment
TheoryNumber of examinees

1,044

633

682

487

745

Number of successful examinees

200

230

91

64

248

Passing Rates

19.2％

36.3％

13.3％

13.1％

33.3％

Primary examination（Basic subjects）

The total number of examination subjects for the secondary examination was 1,095 subjects and thetotal number of subjects passed was 194 subjects. There were 100 examinees who passed all thesubjects.
Secondary examination（Advanced subject）

Life Insurance
１

Life Insurance２

Number of examinees

356

318

147

119

70

85

Number of successful
examinees

62

63

22

22

10

15

17.4％

19.8％

15.0％

18.5％

14.3％

17.6％

Passing Rates

Non-life
Insurance１

Non-life
Insurance２

Pension１

Pension２<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, we implemented temperature
measurement of examinees at the examination venue, disinfection of desks and chairs, andsecuring of seat spacing in the examination room, and also requested examinees to takepreventative measures.
(A2) Implementation of CERA examination
The CERA examination in Japan is based on the SP9 (Enterprise Risk Management, Specialist
Principles) of Institute and Faculty of Actuaries (IFoA). The IAJ implemented CERA examination
on October 6, 2020, utilizing IFoA online platform in line with the IFoA online examination of SP9
in September 2020. The successful examinees were announced on January 18, 2021. There were 46
examinees, and 9 examinees passed the examination (Passing Rates 19.6 %).
(A3) Revision of textbooks① In March 2021, the content and structure of "Medical Insurance" and "Life Insurance
Accounting" were reviewed, focusing on updates to the latest status, and "Medical Insurance(Life Insurance 1, Chapter 7)" and “ Life Insurance Accounting” (Life Insurance 2 Chapter 1)
were revised.
② In March 2021, Life Insurance 2 Chapter 4 "Risk Management" was published in order toenhance the content related to risk management in the life insurance field.

[B. Related to education, training, and research presentation]2

(B1) Implementation of actuary courses
The actuary courses were offered for a period from June 2,2020 to November 2,2020. Details are
as follows.
Subject
Number of
students
Basic courses
・Probability
・Statistics
・Modeling
139 people（12 Subjects） ・Probability Exercise ・Statistics Exercise
・Life Insurance Mathematics
・Non-life Insurance Mathematics・Pension Mathematics
・Accounting
・Economics
・Investment Theory
・Life table
Intermediate・Social Insurance Theory
31 people
courses
・Population Theory（6 Subjects）
・Insurance Supervision Law
・Pension Practice Regulations
・Finance Mathematics
・Risk Management Theory
The additional actuary exercise courses were offered for a period from September 29, 2020 to
December 4, 2020. Details are as follows.
Subject (Number of students)
Additional actuary

・Life Insurance Mathematics Exercise（29 people）

exercise courses

・Non-life Insurance Mathematics Exercise（43 people）(4 Subjects)

・Pension Mathematics Exercise（32 people）
・Modeling Exercise（23 people）

A specialized actuary course (ERM) was held and offered for the purpose of learning specialized
knowledge and skills related to ERM, for the period of July 6, 2020 to September 19, 2020. Details
are as follows:
ERM course(3 Subjects)

Subject・Finance Mathematics （*）
・Risk Management Theory （*）
・ERM(*) Subjects common to Intermediate courses

Number of students
33 people

A specialized actuary course (Data Science) was held and offered for the purpose of acquiring
specialized knowledge and skills related to data science through practical training, for the period ofDecember 26, 2020 to March 20, 2021. Details are as follows:
Number ofContent
students
20 people<Second part>
Data Science <First part>・Introduction of R and simple ・Basic procedure for Predictive
courseModeling
Regression Model(First/Second
・Exploratory Data Analysis
・Linear Regression Modelparts)(EDA)
・Linear Discriminant Analysis
・Example model for Predictive
・Decision Tree
Modeling
・Generalized Linear Model 1
・Generalized Linear Model 2 ・Model selection and Modelevaluation method3

・Practice in Regression Model(GW)・Practice in Classification
Model (GW)
<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all courses were implemented
online.
(B2) Holding of Annual Meeting
From the perspective of curbing the spread of COVID-19, the annual meeting, which was held faceto-face for two days every year, was consolidated into one day (Friday, November 6, 2020) and held
online mainly on live distribution.
<AM> ・Common session (Address from the president, Congratulatory addresses, Common
presentations (Status of IAJ research based on the revision of the IAA educational
syllabus))
・Presentation of papers / Presentation / Panel discussion / Open Discussion Forum<PM> ・Presentation of papers / Presentation / Panel discussion / Open Discussion Forum
11 papers were presented, 8 presentations and 4 panel discussions were held. The streamed videos
were posted on the e-learning system after the annual meeting and can be viewed again on- demand.
(B3) Holding of IT Annual Meeting
From the perspective of curbing the spread of COVID-19, IT Annual Meeting was held online on
February 19, 2021, by posting the documents (latest IT technology research, introduction of newtechnologies by the technology group) on the dedicated website for IT Annual Meeting anddistributing videos (activity reports by the IT research groups (1st to 5th groups)). The videos wereavailable for a certain period on e-learning and YouTube (limited distribution).
(B4) Holding of regular meetings
We held the following regular meetings in FY2020. Details are as follows.
1st
IFRS 17 Discount Curve ModellingWill Halley
Apr.23, 2020
Theoretical and Practical Challenges(Director, ERS Insurance,[Accounting Standards]
Moody’s Analytics (Asia
Pacific))nd
IFRS17 Update adopted by the IASB
Chris Murphy
2(RGA St. Luis, USA)
Aug.26, 2020[Accounting in June 2020
Tristan Chung
Standards](RGA Toronto, Canada)
Video rebroadcast: Sep.26 / Oct.26 / Nov.26※Joint seminar with Professionalism Training
3rd ※(Continuing Professional Development) (Reference to (B9) ①)
Sep. 16, 2020
[Professionalism]
Video rebroadcast: Oct.16 / Nov.16/ Dec.16
4th
Dec. 22, 2020
[Data Science]

Study on Prediction Error in Predictive
Modeling

4

Data Science Related Basic
Research WG
Ryutaro Yamada(Willis Towers Watson)
Yuji Hiramatsu

(AXA Life Insurance)
Tsutomu Watanabe(Dai-Ichi Life Insurance)th5
Jan.12, 2021
[Pension and Retirement
Benefit System]th6
Jan.28, 2021
[Data Science]th7
Mar.4, 2021
[Others]

8th
Mar.31, 2021
[Others]

Video rebroadcast: Dec.29
Past achievements and future
directions of reform studies at the AllGenerations Social Security Review
ConferenceVideo rebroadcast: Jan.26
The power of data science to predict
future healthVideo rebroadcast: Feb.11(Part 1)
Remote work in new normal(Part 2)
Next Wave, Scenarios and Actions for
the Insurance Industry - Based on the
Impact of the COVID-19 Video rebroadcast: Mar.18
Stochastic Mortality Model and Its
Applications: Bayesian perspective

Kosuke Wada(Counsellor (Policy Planningand Coordination) Statistics andInformation Policy, Ministry of
Health, Labour and Welfare)Kuniyoshi Hayashi Ph.D.
(Lecturer, (Biostatistics andBioinformatics) Graduate
School of Public Health, St.
Luke’s International University /Consultant, Center for Clinical
Epidemiology and HealthTechnology Assessment)
Yuji Nomura (Part 1)
Kazunori Aoki (Part 2)(EY Strategy and Consulting
Co., Ltd.)

Atsuyuki Kogure(Professor, Tokyo Keizai
University/ Professor Emeritus,
Keio University/ President, The
Japanese Association of Risk,
Insurance and Pensions(JARIP)/ Technical advisor,
ProbSpace Inc.)<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all regular meetings were held
online. In addition, we rebroadcasted the recorded contents since the 2nd meeting for members
who had difficulty participating on the day.
(B5) Holding of Kansai Committee regular meetings
From the perspective of curbing the spread of COVID-19, Kansai Committee regular meetings
were held online, and the contents were released in the period of Mar.12 to 21,2021.
(Mar.12 –21, 2021)[Life Insurance, Pension,
Risk Management]

2020 Report on Activities of KansaiCommittee’s Sub-committees(B6) Holding of moonlight seminars
5

Each sub-committee

From the perspective of curbing the spread of COVID-19, Moonlight seminars were held online
under the following 4 themes from November 2020 to February 2021.
Let’s do “The Working Level Conference on
the Economic Value-based Solvency
Framework”.
Novel Coronavirus (COVID-19) and actuaries
Reading in turns - "Market Consistent Solvency
Assessment: Financial Risk and Actuarial
Modeling"
AGLM research

Kazuyuki Doi
Iwaki Shimada(Willis Towers Watson)
Noriyuki Kogo (Milliman)
Yasutaka Shimizu(Faculty of Science and Engineering,Waseda
University)
Hirokazu Iwasawa, and members of ASTINrelated Study Group(B7) Holding of Kansai Committee seminars
From the perspective of curbing the spread of COVID-19, Kansai Committee seminars were held
online on February 12, 2021, with the following themes.
 Studies on the effect of epidemic prevention strategy on COVID-19
infection
 A Study on Solvency Margin Ratio -Statistical Consideration on
Insurance Risk of Non-life Insurance Companies Mathematical model of mortality curve developed from TVF modeland application of life table to future estimation
 HARA type expected utility maximization problem under Volterra
Heston model A study on the risk about death that the similar pattern of Tontine
pension holds

Graduate School of Science,
Kyoto University,
Insurance Mathematics
Seminar students(B8) Enhancement of e-learning
E-learning contents under the following were released.













IFRS17 Pocket Guide on Reinsurance Contracts HeldIFRS17 Reinsurance Contracts held：an example of proportionate reinsurance coverage
Situation of minimum guaranteed interest rate in product development
Stock Market Efficiency and Market Anomalies
M & A in insurance companies
Modern portfolio theory
Professionalism Training (Continuing Professional Development) 20192017 General Meeting:–
A trend of specific disease incidence rate in global and Japan (2nd)–A picture of actuarial education with a view to the future, Practical Standards model at
IAA Update of the discussion on ISAPs (3rd)–Longevity and attached risks (5th)–Overview of Predictive Modeling and the latest trend, On the difference between“Statistical Science” and “Machine Learning”(8th )2020 General Meeting:–
IFRS 17 Discount Curve Modelling - Theoretical and Practical Challenges (1st)The changing role of insurance companies in the world of Society 5.0
2018 General Meeting:

6

–





History of Capital Regulation and Recent Issues, Economic-Based Capital
Requirements ～North America Updates (1st)–Precision Medicine (4th)–Asset allocation and ALM using an economic based approach (6th)–Actuarial Mathematics & Statistical Method, and their meaning (10th)–
The Laws of Robotics and Artificial Intelligence, Research presentation on Data
Science by young generations (11th)2019 Annual Meeting:–Let’s talk about future model governance.
–
Application of predictive modeling in insurance (Practical Version)–
ICS Ver.2.0–
IFRS 17 Insurance Contracts–
About the result of the 2019 (1st year of Reiwa) public pension financial verificationand the change from the previous verification
Report of 2019 Open Discussion Forum:– ①Insurance Industry Change Session– ②Retirement Session– ③Financial Reporting Session(B9) Implementation of professionalism training① On September 16, 2020, professionalism training (Continuing Professional Development)
covering the following training was offered.
(Video rebroadcast: Oct.16 / Nov.16 / Dec.16)
 The employed actuaries' dilemma

Norihiro Mizumura(Professor, Saitama University
Graduate School of Humanity andSocial Sciences)② On March 1, 2021, professionalism training covering the following training was offered.
The completion of this training is required to be approved as a Fellow.
 Actuaries and Professionalism
 Actuaries and Code of Conduct

Ikuo Katayose (Resona Bank)
Hideki Wakasugi (Meiji Yasuda Life
Insurance) Professionalism in Life Insurance
Hitoshi Watanabe (Nippon Life Insurance) Professionalism in Non-life Insurance
Hiromi Kaneko (Sompo Japan Insurance) Professionalism in Pension
Akihiro Hotta (Tohmatsu LLC)
Kazuo Kuroiwa (MetLife Inc.)
 Case studies※The participants were limited to "associate members who passed all the examination
subjects (including in the 2020 qualification examination)".
③ On March 29, 2021, an opinion exchange meeting for appointed actuaries of small amount &short-term insurance was held by IAJ as a place to share practical questions and issues.
<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all trainings/meetings were held online.
(B10) Implementation of CERA training
On January 30, 2021, a group workshop was held for successful examinees for CERA examination.
The workshop contained lectures on ERM, such as the specific situation in Japan and the casestudies. The completion of this training is required to be approved as CERA qualification and 4
participants completed the training.
7

(B11) Implementation of Research meeting
On February 13, 2021, with a view to expanding the base of academic human resources for holding
ICA2026, the research meeting in FY 2020 was held in cooperation with JARIP. The purpose wasto provide members with opportunities to meet with academic and research activities, and to
expand the base of actuary-related researchers. From the perspective of curbing the spread of
COVID-19, the meeting was held online.
[C. Related to investigation and research activities](C1) Holding of Standard Mortality Advisory Committee meeting
At the 26th Standard Mortality Advisory Committee meeting held on Thursday, November 19,2020,
and it was approved to continue to use in the year 2021 the “Life Insurance Standard Life Table
2018 (for death)”, “Third Sector Standard Life Table 2018”and “Life Insurance Standard Life Table
2007 (for annuity)”.
(C2) Improvement of practice standards① With regard to” Guidance for Actuarial Practice Concerning Retirement Benefits Accounting”,
the revisions were made in April 2020 not to refer to the "Practical Standards for Welfare
Pension Funds”, based on the handling of that by the Japanese Society of Certified Pension
Actuaries (JSCPA).
② In order to reflect the revision of the Fisheries Cooperatives Law, etc., and to carry out thenecessary improvement of practical standards, the revision of "Practical Standards for Mutual
Aid Accountants of the National Mutual Insurance Federation of Fisheries Cooperatives" wasdisclosed and opinions were solicited in January 2021. Since no opinion was submitted, thedraft was finalized, and after a resolution to be revised by the Board of Directors on March 10,
2021, it was approved by the Minister of Agriculture, Forestry and Fisheries on March 29, 2021.
In addition, the " Guidance for Practical Standards Manual for Mutual Aid Accountants of the
National Mutual Insurance Federation of Fisheries Cooperatives" was revised for the same
purpose.
(C3) Response to international accounting standards and international insurance regulation
The International Accounting Standards Board (IASB) and the International Association of
Insurance Supervisors (IAIS) have been energetically reviewing international accounting standards
and international insurance regulation. The International Actuarial Association (IAA) is carrying out
contracted research and other activities as an actuarial professional group. The IAJ is actively
participating in the activities of IAA committees.
(C4) Dispatch of an observer to “Members of The Study Group on the Economic Value-based Solvency
Framework”
Upon request of the Financial Services Agency, we dispatched Mr. Jun Miyamoto (Dai-Ichi Life
Insurance) as an observer to the "Members of The Study Group on the Economic Value-based
Solvency Framework".
(C5) Work for the revision of IAA educational syllabus① Corresponding to the amendment of IAA educational Syllabus and its application in 2021, IAJ
has been considering the future qualification examination and education systems in Japan byPlanning Committee, Examination and Education Planning Committee and the relative
committees, respectively. Assuming to provide the fellow members with 2-days training in the
3 fields of “Financial Risks”, “Data and Systems”, and “Actuarial Risk Management” as the8

②qualification requirement, the trial on-line training was conducted on February 18, 24, 25, andMarch 5 to confirm the feasibility.
The “Education Questionnaire” to assess the adoption of IAA 2017 Education Syllabus wasanswered and submitted to IAA on March 31, 2021.

(C6) Activities of Committees
Each committee, division, study group, working group and project team carried out investigations,research and other activities based on the purpose and mission set at the beginning of the fiscal year.
The status of their activities was posted on IAJ web sites. The activities that were put together into
investigation and research results were published on the IAJ’s member-only web page and/or in
supplementary volumes of bulletins, etc.

[D. Expression of Opinions](D1) Voting at IAA Council (including electronic voting)① In April 2020, voted for the approval of all the topics at the IAA virtual council meeting.
② In June 2020, voted for the approval of the venue of 4Q 2021 IAA Council & Committee
Meeting (Seoul, South Korea), and the leadership of the newly formed Advance Committee.
③ In October 2020, voted for the approval of adopting the “Late Membership Fee Payment
Policy”, new IAA Associate membership application (The Actuarial Association ofMontenegro), and the revised section rules (AFIR-ERM, ASTIN, IAAHS, IACA & PBSS).
④ In November 2020, voted for the approval of all the topics at the IAA virtual council meeting.

[E. Related to International Activities](E1) IAA activities① The IAJ send committee members to IAA and actively participates in the activities of IAA
committees. Especially, Masaaki Yoshimura is in Nominating Committee as Chair, Toshihiro
Kawano is in Actuarial Standards Committee, Ryutaro Yamada is in General InsuranceCommittee (Forum) as a Vice-chair, and Yosuke Fujisawa is in Enterprise and Financial Risk
Forum as a Vice-chair.
② In December 2020, IAA invited Full Member Associations to delegate one of their members
to IAA Strategic Planning Committee (SPC) for the seats rotating off at the end of 2020, whichis to discuss IAA strategies as a lower association of Council. IAJ stood for election and wasselected by draw as the result, and Masaaki Yoshimura was delegated. (The term: 4 years)(E2) Cancellation of Actuarial Seminar of East Asia (ASEA) in 2020
From the perspective of curbing the spread of COVID-19, Actuarial Seminar of East Asia
(ASEA) in 2020 was cancelled.
(E3) Dispatch of members to international conferences, etc.
Due to the spread of COVID-19, the conferences in person have been canceled and were held
online as follows.
①

From Apr.15 to May 12, 2020
IAA Virtual Conference
Tomio Murata, Masaaki Yoshimura, Nobuhiro Shimizu, Masaaki Shigehara, Yoshio Nakamura,
Takashi Yamamoto, Ryutaro Yamada, Yosuke Fujisawa, Kenji Sekine, Minoru Ouchi

9②

From May 11 to 15,2020Paris 2020 Virtual Actuarial Colloquium
Hirokazu Iwasawa, Shigeo Watanabe, Miyuki Ebisaki, Masafumi Suzuki, Suguru Fujita, Kenji
Kondo, Toyoto Tanaka③

From Sep.21 to Nov,18, 2020

Virtual Council and Committee Meetings(4Q2020)
Tomio Murata, Masaaki Yoshimura, Nobuhiro Shimizu, Masaaki Shigehara, Toshihiro Kawano,
Yoshio Nakamura, Takashi Yamamoto, Ryutaro Yamada, Yosuke Fujisawa, Kenji Sekine, Kentaro
Katsuno, Minoru Ouchi※The IAA section colloquium was held from May 11 to 15, 2020, with "SECTIONS VIRTUAL
COLLOQUIUM 2020" as a virtual conference using actuview as a platform.
※The 23rd AAC (Asian Actuarial Conference) was supposed to be held in Bali, Indonesia on
October 2020, but it was cancelled.
[F. Advisory Committee](F1) The 32nd Advisory Committee meeting was held online on March 4, 2021, where summary ofbusiness activities in 2020 and business plan in 2021 (draft) were discussed.

[G. Academic Activities](G1) Upon request of Kyoto University to send lecturers for insurance mathematics and pension
mathematics lectures, Jun Asano (Sumitomo Life Insurance), Hiroyuki Saito (Sumitomo Life
Insurance), Tsuyoshi Suzuki (Sumitomo Life Insurance), Ikuo Katayose (Resona Bank), Yuya
Tokuda (Daido Life Insurance), Takeshi Toyodome (Nippon Life Insurance), Hiroyuki Tsunekawa(Nippon Life Insurance) and Yoshihiro Minami (Nippon Life Insurance) were sent to the
University.
(G2) Upon request of Osaka University to send lecturers for insurance mathematics lectures,
Akihiko Sasada (Sumitomo Life Insurance), Masaki Takemura (Daido Life Insurance) and
Hiroyuki Tsunekawa (Nippon Life Insurance) were sent to the University.
(G3) Upon request of Kobe University to send lecturers for insurance mathematics lectures, Koji
Matsumoto (Sumitomo Life Insurance) was sent to the University.
(G4) Upon request of Waseda University to send lecturers for insurance mathematics, pension
mathematics, and general insurance theory and practice lectures, Yoshiki Adachi (Meiji Yasuda
Life Insurance), Kouichi Tanaka (Meiji Yasuda Life Insurance), Junichi Hamada (Meiji Yasuda
Life Insurance), Akira Arai (Meiji Yasuda Life Insurance) , Kentaro Sekiguchi (Aon PLC) andYosuke Fujisawa (Sumitomo Life Insurance), Kaoru Shiojima (Aioi Nissay Dowa Insurance), Akio
Hoshino (Nisshin Fire & Marine Insurance), Nobuhisa Ishio (Sompo Japan Insurance), Shuhei
Hotta (Mitsui Sumitomo Insurance) were sent to the University.
(G5) In October 2020, a career support seminar was held at Waseda University Graduate School of
Accountancy for undergraduate and graduate students who are interested in actuaries, and Minoru
Ouchi (general secretary) was dispatched as a lecturer as part of academic activities.

10(G6) In June 2020, a career guidance was held online at Kansai University Faculty of Engineering
Science, Department of Mathematics to introduce actuaries to third-year undergraduate students,
and Akihiko Sasada (Kansai Committee) was dispatched as a lecturer as part of academic activities.

[H. Related to Presentation of Awards](H1) Awards presented to a person with outstanding results in the 2019 qualification examination① Presentation of President Award
The IAJ presented the President Award to Kai Masaoka (Dai-Ichi Life Insurance).
② Presentation of award for outstanding results for each subject
The IAJ presented an award to 2 persons for Mathematics, 2 persons for Life insurance
mathematics, 1 person for Non- life insurance mathematics, 1 person for Pension mathematics,
1 person for Accounting, economics, and investment theory, 1 person for Life insurance 1.
(H2) Presentation of awards for outstanding research paper① As a result of the examination by the Academic Committee, the excellent papers were notrecommended by the committee, and there were no relevant papers in 2020.
② On February 19, 2021, awards were presented for the following outstanding IT-related papers
at the IT Annual Meeting:“How SoE ＆ SoR should function in the insurance industry”(IT Study Group IV)“Measures and the challenges to cybersecurity in the supply chain of insurance industry”(IT Study Group V)[I. PR and Publication Activities](I1) PR activities① At the end of August 2020, the "Voice of successful examinees" on IAJ’s website was renewed(replacement of the members) as the 2020 version.
② “Actuary Seminar” primarily for students was held on January 23, 2021 in Tokyo and Osaka.
From the perspective of curbing the spread of COVID-19, the seminar was held online andthere were 56 participated.
③ Prior to the renewal in April, the members only page of the IAJ website was released tomembers in advance from March 12, 2021 in order to shift to "Smart Core" (cloud typepackage system) from FY2021.
(I2) Cooperative activities of related associations / institutes① The IAJ sponsored the public interest purpose project such as "64th IMO2023 Japan Games"
organized by the Mathematics Olympic Foundation of Japan (JMO).
② The IAJ was supposed to sponsor the public interest purpose project; “Suugaku Koshien 2020
(The 13th National Math Championship)” organized by the mathematics Certification Instituteof Japan (SUKEN), but it was cancelled due to COVID-19.
(I3) Publication of bulletins, etc.
The following bulletins and other publications were published.
① Bulletin

11No.73

 Application of Reinforcement Learning in Life Insurance Actuary
Tasks Adequate funding levels for defined benefit pension plans Note on the Reinsurance Strategy based on ICS as a Financial
Soundness Standard
 Consideration on subdivision of non-economic assumption
 Expected mortality rate used for calculating survival rate of living
benefit insurance② Supplementary volumes of bulletin
No.288<The 60th IT Annual Meeting Report> (IT Committee)
 Latest IT Technology Survey / Research "Changes in Digital
Driven IT Technology and Insurance Company Operations by
COVID-19" (Presentation only) Toward the realization of a common platform for the industry
 Research on new services and products of insurance companies
using new technology focusing on P2P insurance DX promotion in the insurance industry based on sustainability
 Data utilization by insurance companies based on the latest trends
such as the establishment of information banks
 The ideal way of working in the information system department in
the digital age③ Actuary Journal
No.111

No.112

No.113
No.114

Special Edition

 The 6th regular meeting report in 2019
 ASTIN Bulletin Abstracts (Translated by ASTIN related Study
Group)
 2019 Report of paper research activities (AFIR related study group) 2019 Report on Activities of Kansai Committee’s Sub-committees
 2019 Report on Moonlight Seminar 2019 CERA qualified person(s) 2019 accomplished members for CPD objectives
 2019 applicants who passed the qualified examination
 Actuaries’ relay talks (Series Part.12)
 <Report of Data Science Related Basic Research WG >– Data Visualization Technology Manual Using R– SOA Exam PA: Translation of Predictive Analytics
 2019 Continuing Professional Development / CPD units
achievement report 2020 Name lists of committees, study groups, working groups,
project teams
 Actuaries’ relay talks (Series Part.13)
 The origin of actuary? Contribution to pension mathematics byColin Maclaurin
 Actuaries’ relay talks (Series Part.14)
 2020 Actuary Seminar report (PR Committee Actuary seminar Subcommittee, Kansai Committee)
 The result of questionnaire for IAJ members on awareness of
ICA2026 papers (ICA2026 Planning Committee, IAJ Secretariat)
 Book Review - Financial Modeling, Actuarial Valuation andSolvency in insurance
 Actuaries’ relay talks (Series Part.15)<Contribution > Economic value-based solvency regulation - Regulation or regime
shift? –12

<Risks andInsurance
No.17>④

 Now is the time to focus on introducing economic value-based
solvency regulation
 Looking back at the Advisory Council: To make the "three pillars"
work<Lecture> What ERM should be based on the introduction of economic valuebased regulation<Paper> The Policy for Policyholders' Dividend of Life Insurance Company
based on the Cramér-Lundberg Model with Incorporating the
Perspective of Fairness

2020 Qualification Examination Question Collection(I4) Revision of PR brochure
In June 2020, the description of actuaries’ activity field was reviewed in response to the recent
circumstances, and the IAJ PR brochure was renewed accordingly, such as introducing data science as
one of the new fields for actuaries. The other contents were also revised to the latest, such as in theitems of breakdown of the number of individual members by business type, annual transition, the listof corporate members, and replacement of photos of overseas training.

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