phone:        (516) 418-2549
fax:              (631) 582-1702
address:     245 Southlawn Avenue
                    Central Islip, NY, 11722

​​​​PBR is Here- Are You and Your Company Ready?

Legislatures have voted and the NAIC has opined- PBR is here for Jan 1, 2017 and Insurers must make important decisions:

  • Whether to use the "3 Year Transition" and Delay or implement Immediately
  • Which risk drivers to focus on, study, and understand in Product Design, Valuation, and Risk Management
  • How to implement and perform new and complex processes and establish adequate reporting and controls
  • How to drive cultural changes needed to lower barriers between functional silos that exist at many companies

New PBR Governance rules will REQUIRE that the Board and Senior Management:

  • Understand what goes on "under the hood" as evidenced by regular reports from Senior Management and active discussion and responsive decision-making that is documented in corresponding "Board Minutes"
  • Provide adequate processes and controls over the PBR Valuation Function
  • Ensure that Valuation staff are Knowledgeable and Adequately Trained
  • Comply with the Model Audit Rule and explain outcomes, and especially deficiencies, to external stakeholders


​​The Problem with Current PBR Training and Consulting:

Many existing PBR training courses and seminars are not tailored to your schedule, needs and budget:

  • They require travel, lodging and individual attendee fees and are delivered on someone else's timetable
  • The content is static, is quickly out of date, and fades from memory as soon as you leave the course
  • Its difficult to transmit what little practical knowledge is gained to your colleagues and teammates
  • Many PBR "studies" by supposed experts provide facile or inaccurate results based on simplistic models.

The Solution- Experienced PBR Consulting and Training On YOUR Terms:

Mr. Mangini is a regulatory expert who is currently a member of the Academy of Actuary's Life Reserve Work Group (LRWG) which is responsible for working directly with regulators to develop and improve Life PBR reserving.

Leonard has had direct experience as Deputy Global Chief Actuary and head of valuation risk for a multi-line insurer already subject to Principle-Based valuation where he supervised Principle-Based Assumption and Margin setting for more than 100 products in 19 business units across the US, Canada and Asia, explained Principle-Based earnings to stakeholders, and supervised Principle-Based valuation assumption and model governance in an ORSA environment.

In addition, he has served as a US Chief and Appointed Actuary with more than 10 years of reinsurance experience reviewing, pricing and valuing client's mortality, morbidity, lapse and policy-holder behavior- allowing him to help you with:

  • PBR Implementation Plan Review
  • Governance Advisory on Organization, Processes, and Controls 
  • Assumption and Model Validation
  • ​Experience Study and Credibility Analysis
  • Peer Review of Prudent Estimate Assumptions and Margins
  • Product-Design Optimization under PBR
  • Design and Implementation of PBR-optimized Reinsurance
  • Understanding and Communicating PBR results to External Stakeholders, the Board and Senior Management

But even better...

Mr. Mangini has joined with a team of PBR expert colleagues

  • Tim Cardinal, Actuarial Compass LLC  (author of the PBR Implementation Guide)
  • Arnold Dicke, AADicke LLC (a key LRWG member for more than 14 years), and
  • Leslie Jones, Risk and Regulatory Consulting LLC (former SC Regulator/Head NAIC Life Actuarial Task Force- LATF)

who have brought together more than 100 years of industry experience to help create Voyager m2 Lab PBA Training*.

 Voyager m2 Lab PBA Training* is ALREADY LIVE and helping other insurers and industry providers. It offers:

  • Video lectures streaming on demand and delivered to mobile device, phone, laptop or desktop
  • The ability to watch, pause, think, rewind, and watch again until the message is received and understood
  • Business implication summaries targeted to the Board, C-Suite, and Management
  • Governance and Professionalism lessons to assist with compliance and integrate with existing company ERM
  • Practitioner walk-throughs with sample spreadsheets, flowcharts and summary PDFs for complex calculations
  • Clearly explained results of 100s of model runs for a wide range of risk drivers to truly undetstand PBR dynamics
  • Results NOT found by other consultants and CONTRADICTING previously published and erroneous findings
  • Content that is updated as the Valuation Manual and PBR changes and evolves

Learn how participating in Voyager m2 Lab PBA Training* can:

  • Help you and your team avoid months of modeling dead ends and focus on what is truly important to your company
  • Help you Catch-up and jump ahead of your competition to position you as a PBR first-mover
  • Qualify your company to receive PBR-related consulting services at DISCOUNTED RATES from the combined course faculty members of the individual consulting firms that teamed up to develop this innovative course  

* Copyright © 2015 Actuarial Compass LLC. All Rights Reserved​- Used with Permission

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