May 6 @ 10:00 AM - 11:00 AM EDT
This conference explores how Behavioral Economics can bridge the gap between complex financial products and actual consumer decisions within the pension and insurance industries. By shifting the focus from purely technical designs to the cognitive reality of "System 1" and "System 2" thinking, we will analyze why even the most robust actuarial models often face inertia and low uptake. The presentation moves beyond theory to examine proven strategies from leading global markets who have successfully maximized participation and savings rates. We will discuss how to apply Choice Architecture to overcome deep-seated biases that hinder effective risk protection across both retirement and insurance sector. Ultimately, this talk redefines the actuary's role as a "Decision Architect," capable of building scalable infrastructure that is both mathematically sound and humanly effective in a modern regulatory landscape.
Speaker: Dr. Diego Valero Carreras
Professor at the University of Barcelona and IE University, and Professor of Economics at Montessori International School. He holds a PhD in Economics and Actuarial Science, as well as a Diploma in Senior Management from IESE Business School. He is also Honorary President of the 2008 graduating class of the ICADE MBA and Executive MBA.
In addition to his teaching career, Dr. Valero has an extensive background in the business world. He is co-founder and president of Novaster and was the founder of BeWay. He served as President of OCOPEN (Organization of Pension Consultants of Spain) and Vice President of Spainsif (the Spanish Forum for Socially Responsible Investment).
He is the Academic Director of the Global Pensions Programme, the leading annual pensions event in Latin America and Spain, organised in partnership with the London School of Economics. He has been Chairman of the Scientific Committee of LIFE Colloquium 2017 and serves as Academic Adviser of the IPE Scholarship Fund. He has been repeatedly summoned by the Parliamentary Commission of the Toledo Pact in Spain, as well as other parliamentary pension commissions in Latin America. He is the only Spanish member of the American Academy of Social Security.
He is the author of several books and hundreds of articles. He has translated works by Peter Diamond (Nobel Prize in Economics 2010) and Nicholas Barr, including Pension Reform, as well as Professor Meir Statman’s book, The Value of Wellbeing. In 2018, he published, together with Drs. Guillén and Ayuso, Effective Management of Savings After Retirement, which was awarded the XIII Premio Edad y Vida Higinio Raventós.
He was awarded the IPE European Outstanding Contribution to Pensions Award in 2025.
Session Moderator: Abraham Hernández Pacheco
President and co-founder of VITALIS®, an international company providing consulting and investment services for private pension plans, family offices and other institutional investors. He is also President of Today for Tomorrow, a European-based Investment Management Company (ManCo).
With a wealth of experience and leadership, Abraham serves as President of the Portuguese Institute of Actuaries (IAP) and as Vice Chairman of the International Association of Consulting Actuaries (IACA) and is Past Chairman of the Pensions Section (PBBS) of the International Actuarial Association (IAA). He also represents the Institute of Portuguese Actuaries on the Strategic Planning Committee and the Advance Committee of the Association.
Mr. Hernández also serves on the board of public and private companies, investment and private equity funds, as well as Family Offices.
Abraham co-founded “Miles for Retirement”, an innovative platform that facilitating retirement savings through everyday spending; and ProMX, a goverment agency for the promotion of exports and investing.
Abraham holds a degree in Actuarial Science from the Instituto Tecnológico Autónomo de México (ITAM) and has over 20 years of experience as a teacher in Actuarial Science, Pensions, Statistics and Investments. Currently pursuing a PhD on Applied Mathematics at ISEG, University of Lisbon, he remains committed to academic excellence.
A prolific speaker and author, Abraham has delivered lectures and presentations at conferences worldwide and has contributed numerous articles on pensions, social security, and investment strategies. Notably, he has been honored with the First Prize on Research by the Portuguese Insurance and Pension Funds Supervisor (ASF), by SCOR (an insurance company) and by the International Association of Consulting Actuaries.
Passionate about social causes, Abraham actively engages in initiatives aimed at reducing elderly poverty and advocating for diversity and responsible investments.
Last but not least, having learned what Social Security will fare for all of us, he is the proud father of ten children.
