2020 Fall BACE Meeting Agenda and Presentations
Fall Meeting Agenda – November 5th, 2020 GoTo Virtual Meeting
Presentations will be available at https://www.casact.org/community/affiliates/bace/. The order of presentation and times may change in order to speakers, technological issues, and other circumstances.
ANTITRUST NOTICE
Buckeye Actuarial Continuing Education (BACE) has adopted the CAS's Antitrust Compliance Policy that requires strict adherence to the letter and spirit of the antitrust laws. Meetings conducted under BACE's auspices are designed solely to provide a forum for the expression of various points of view on continuing education topics described in the programs or agendas for such meetings. Under no circumstances shall BACE meetings be used as a means for competing companies or firms to reach any understanding (expressed or implied) that restricts competition or in any way impairs the ability of members to exercise independent business judgment regarding matters affecting competition. It is the responsibility of all meeting participants to be aware of antitrust regulations, to prevent any written or verbal discussions that violate these laws, and to adhere in every respect to BACE's antitrust compliance policy.
Welcome and GoTo Meeting Functionality 9:00 am – 9:05 am
Modernizing in a Changing Insurance Landscape 9:05 am – 9:55 am
Ian Sterling, FCAS, MAAA, KPMG LLP & Jeremy C. Smith, FCAS, CERA, KPMG LLP
The industry is facing a rapidly changing insurance market with increased competition and disrupters influencing customer expectations. Companies are under expense and margin pressures and are navigating through a new environment. The winners are those that best utilize data, execute efficiently, and move insight into action. Actuaries are critical but must modernize. Now is the time for the actuarial profession to embrace change and seize the opportunity to lead the industry into the future. This presentation will discuss industry trends and the changing landscape of insurance as well as how actuaries can take advantage of advanced technologies, alternative processes, and a re-imagined people strategy to adapt and thrive.
BACE Business Session and Elections 9:55 am – 10:05 am
Break 10:05 am – 10:15 am
An Introduction to Political Risk and Terrorism Coverages 10:15 am – 11:05 am
Will Carbone, FCAS, Liberty Mutual Insurance
This presentation will serve as a 101-level course on political risk and terrorism insurance, and how they compare and contrast with more well-known coverages. Specific attention will be paid to portfolio management, pricing and reserving, and the impact of the inherent volatility of these lines.
Break 11:05 am – 11:15 am
COVID-19 Impacts on the Auto Insurance Industry through the Lens of Accident Data 11:15 am – 12:05 pm
Yiem Sunbhanich, TNEDICCA
Yiem, a co-founder and CEO of TNEDICCA, will share the fundamental idea and empirical evidence for the relevancy of crash location information in the context of auto insurance. By curating detailed crash location data, Yiem and the TNEDICCA team have shown that this new information can help auto insurance companies improve their auto insurance territory rating, telematics pricing, and customer engagement.
Lunch Break 12:05 pm – 1:00 pm
Aerial Technology 1:00 pm – 1:50 pm
Kevin Van Leer, CCRA, Cape Analytics & Bobby Davis, Cape Analytics
Today, geospatial property analytics are being considered or actively implemented by many insurance carriers across the United States. This new, unique form of property information is being used in both personal and commercial lines, and more specifically for quoting, underwriting, and rating. This presentation will discuss the major principles and considerations actuaries and underwriters should examine when determining where and how to implement geospatial AI within insurance workflows.
Break 1:50 pm – 2:00 pm
Small Business Rating Challenges During COVID 2:00 pm – 2:50 pm
Sharon Maloney, Lexis Nexis Risk Solutions & Junyi “Joy” Tang, ACAS, CPCU, Lexis Nexis Risk Solutions
Rating for small business in a normal time is challenging but even more so during COVID. We’ll review the effects of COVID on commercial insurance quoting and the dramatic differences by Industry types. During this time, the ability to understand the current state of a given risk requires as much information as feasible. In this session, we will uncover opportunities leveraging financial information both on the owner in addition to the business entity and how these opportunities vary industry by industry.
Candidate Survey Results 2:50 pm – 3:00 pm
Elizabeth E. End, FCAS, CPCU, Liberty Mutual Insurance
Last year the CAS’s Candidate Liaison Committee surveyed the candidates. We’ll walk through a few results that came out of the survey.
Break 3:00 pm – 3:10 pm
Actuarial Inclusion, Equity, and Diversity Update: Recent Developments and How to Get Involved 3:10 pm – 4:00 pm
Nicole Harrington, ACAS, Progressive Insurance & Kyle Babirad, ACAS, CSPA, Canary Consulting, Inc. & Sarah Manuel, ACAS, MAAA, Willis Towers Watson & Edwin Lopez, FCAS, Progressive Insurance
2020 has brought Inclusion, Equity, and Diversity into sharp focus in the actuarial profession and beyond. In this session, members of the CAS/SOA Joint Committee for Inclusion, Equity, and Diversity (JCIED) will provide an update on our ongoing efforts and how every CAS member can contribute and stay up-to-date. We will also share concrete actions recommended by the International Association of Black Actuaries (IABA) for increasing the number of Black actuaries in the profession and get an update on the Organization of Latino Actuaries’ OLA Academy program. Time will be allotted for audience Q&A.
Final Comments 4:00 pm
|
Steven Groeschen |
Josh Brady |
Andrew Wiest |
Elizabeth End |
Christine Ross |
|
President |
President-Elect |
Vice President |
Secretary |
Treasurer |
