About This Event
Attend the 2017 CLRS to stay current with industry developments and learn from expert analysis of innovation in reserving.
Pre-registration is now closed. Please register with the CAS Staff in Philadelphia, PA. Questions? Call 703-276-3100.
PAPERLESS MEETING
Green seminars incorporate environmental considerations to minimize negative impacts on the environment. The CAS has taken a step in that direction by making the Casualty Loss Reserve Seminar “paperless,” which means:
- Paper copies of session handouts will not be provided in the meeting rooms.
- Paper copies of the list of attendees will not be distributed, though a few copies will be available for review at the CLRS registration desk.
- Seminar evaluations will be administered online; Session slides will be posted on the CAS Web Site at least two weeks in advance of the CLRS so that attendees can download, print, and bring handouts as desired. Please note that not every presenter will choose to provide a presentation for his or her session.
Once at the Casualty Loss Reserve Seminar, attendees are encouraged to view the list of attendees online, complete the online evaluation forms, and download presentations to a USB flash drive for the sessions they attend.
The CAS appreciates your participation in this effort to reduce the Seminar’s carbon footprint and impact on the environment.
CONTINUING EDUCATION CREDIT
CPCU
Chartered property casualty underwriters (CPCUs) attending this year’s Casualty Loss Reserve Seminar will be awarded a maximum of 10 points under the Continuing Professional Development Program for CPCUs. Forms to receive credit will be available at the seminar.
CAS
The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide actuarial services. Actuarial services are defined in the CAS Code of Professional Conduct as “professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings, or opinions based upon actuarial considerations.”
Members who are or could be subject to the continuing education requirements of a national actuarial organization can meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a national actuarial organization recognized by the Policy.
This activity may qualify for up to 15* CE Credits for the Casualty Loss Reserve Seminar for CAS members. Workshop attendees may add a maximum of 7.2* CE Credits. Those attendees who participate in a Roundtable Discussion can add up to .9* CE Credits for each session. Participants should claim credit commensurate with the extent of their participation in the activity. CAS members earn 1 CE Credit per 50 minutes of educational session time not to include breaks or lunch.
*The amount of CE credit that can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals who are subject to the requirements of organizations other than the American Academy of Actuaries.
ATTIRE
Business casual attire is suggested for all sessions as well as the receptions on both evenings. Since meeting room temperatures and personal comfort levels vary, it is recommended that you bring a sweater or jacket to the sessions. In Philadelphia, the average high temperature during September is 78 degrees and the average low is 58 degrees.
REGISTRATION INFORMATION
Pre-registration is now closed. Please register with the CAS Staff in Philadelphia, PA. Questions? Call 703-276-3100.
The 2017 Casualty Loss Reserve Seminar (CLRS) and Workshops will be held Sunday, September 10 through Tuesday, September 12, 2017, at the Loews Philadelphia Hotel in Philadelphia, PA. The number of participants may be limited, so register as soon as possible.
WORKSHOP (SUNDAY) AND SEMINAR (MONDAY AND TUESDAY)
The following registration options are offered:
- one full day of focused workshops on Sunday only; or
- two days of traditional CLRS general/concurrent sessions on Monday and Tuesday;
- both the focused workshops and the traditional two day seminar covering Sunday, Monday and Tuesday.
All fees will increase by $200 for registrations received after August 25, 2017. Pre-registration will close on August 30, 2017. Email confirmations are available to all pre-registered attendees, and unless the seminar or workshops reach capacity, onsite registration will be available in Philadelphia.
WORKSHOPS (SUNDAY)
*Pre-registration is required.
The CLRS will also feature three optional pre-seminar full-day workshops on Sunday. The workshops are designed to be highly interactive, hands-on and more in- depth than a traditional seminar session and are limited in attendance. The committee has designed three dynamic workshops covering the following topics:
- Workshop 1: Reserving Bootcamp
- Workshop 2: Maximizing the Value of Your Actuarial Opinion and Reports
- Workshop 3: Intermediate R
SEMINAR (MONDAY AND TUESDAY)
The registration fee is $1,000 for CAS members, subscribers, and active candidates, and $1,200 for nonmembers. The fee for member speakers is $500. The seminar registration fee includes receptions on Sunday and Monday evenings, two continental breakfasts, two lunches, refreshment breaks on Monday and Tuesday, and seminar materials.
WORKSHOP (SUNDAY) AND SEMINAR (MONDAY AND TUESDAY) FEES
Pre-registration is now closed. Please register with the CAS Staff in Philadelphia, PA. Questions? Call 703-276-3100.
|
REG TYPE |
EARLY REG. FEE |
LATE REG. FEE |
|
WORKSHOP (SUN) |
||
|
Attending the Seminar |
$700 |
$800 |
|
Not Attending the Seminar |
$900 |
$1000 |
|
Workshop CLRS Speaker |
Waived |
|
|
SEMINAR (MON/TUES) |
||
|
CAS Members, Subscribers, and Active Candidates* |
$1,000 |
$1,200 |
|
Non-Members |
$1,200 |
$1,400 |
|
Member Seminar & Workshop Speakers |
$500 |
|
|
Government employees - Members |
$500 |
|
|
Government employees - Non-Members |
$600 |
|
|
Non-member speakers |
$0 |
|
|
CAS Academic Central Member** |
Waived |
|
|
POST-EVENT SESSION RECORDINGS (COVERING MOST OF THE SESSIONS PRESENTED; FEE DISCOUNTED FOR ATTENDEES) |
$50 |
* An active candidate is a non-member who has attempted at least one actuarial exam in the last two years.
** Limited to Members of CAS Academic Central for up to three national CAS meetings or seminars each year.
REGISTRATION HOURS:
Registration Hours:
The CLRS registration desk will be open as follows:
Workshop Registration:
Sunday, September 10, 8:00a.m. – 2:00p.m.
Regular Seminar Registration:
Sunday, September 10, 4:00p.m. – 7:00p.m.
Monday, September 11, 7:00a.m. – 5:00p.m.
Tuesday, September 12, 7:00a.m. – 4:00p.m.
CANCELLATION POLICY
The fee will be refunded for cancellations received by September 1, 2017, less a $100 processing fee. Only written cancellations will be honored. Cancellations will be accepted by fax at (703) 276-3108 or via email to refund@casact.org.
https://www.casact.org/education/clrs/2017/index.cfm?fa=guide
Anthony Bustillo, Chairperson
John Wade, Vice Chairperson
Edmund Douglas, Vice Chairperson
Jason Abril
Alex Alimi
Emily Allen
Scott Anderson
Peter Brinck
Thomas DeFalco
Rachel Dolsky
Wendy Germani
Lise Hasegawa
Steven Herman
Alan Hines
Eric Hornick
YI Jing
Debbie King
Sarah Krutov
Jing Liu
Joshua Merck
Bill Miller
Eric Pince
Chandu Patel
Susan Pino
Karin Rhoads
Carver Roya
Raj Sahasrabuddhe
Ahmad Shadman
Abby Sternberg
Peter Tomopoulos
LODGING INFORMATION
Loews Philadelphia Hotel
1200 Market Street
Philadelphia, PA 19107
Phone: 215-627-1200
ROOM RATE AND RESERVATIONS
The room rate is $179.00 for single/double room, plus taxes, and reservations must be made prior to Friday, August 18, 2017.
Reservations may be made online or via telephone:
- Online reservations
- Telephone reservations, kindly call 1-888-575-6397 and identify yourself as being with the Casualty Loss Reserve Seminar and Workshops.
A limited number of rooms have been reserved for the evenings of Saturday, September 9; Sunday, September 10; Monday, September 11; and Tuesday, September 12. While reservations must be made prior to Friday, August 18, 2017, in order to receive the $179.00 rate, there is no guarantee that rooms will be available should you wait until this date. CAS strongly suggests that you make your room reservations early to receive a room before the room block fills.
ADDITIONAL ACCOMMODATION INFORMATION
For more information on the hotel or Philadelphia, please visit https://www.loewshotels.com/philadelphia-hotel and http://www.discoverphl.com/, respectively.
IMPORTANT INFORMATION REGARDING OFFICIAL CLRS HOTEL
The Casualty Actuarial Society is able to conduct high-quality meetings at desirable sites for a reasonable registration fee because a block of hotel rooms is reserved for meeting attendees. In exchange for filling the required number of sleeping rooms, the CAS is permitted to use the hotel’s meeting space at no cost, thus keeping registration fees low. In addition, meeting attendees receive a reduced rate for their sleeping rooms over leisure travelers. We kindly request that all meeting attendees take advantage of the group rate and stay at the official CLRS property: the Loews Philadelphia Hotel.
SPONSOR/EXHIBITOR OPPORTUNITIES
Contact Katie Hettler at (703) 562-1722 or khettler@casact.org, for details on becoming an exhibitor and/or sponsor.
Download a copy of the Prospectus!
EXHIBITOR, MONDAY RECEPTION
D.W. SIMPSON & CO., INC.
DW Simpson Global Actuarial & Analytics Recruitment specializes in the placement of actuaries and related analytics professionals. Established in 1989, we work on an international basis and at all levels of experience from Actuarial student to Fellow. This encompasses actuaries with expertise in Property & Casualty, Life, Health, and Pension, and increasingly, non-traditional areas such as Risk Management, Catastrophy Modeling, Predictive Modeling, Financial Modeling, and Data Analytics. We are the largest firm exclusively placing actuaries and our objective is to be the foremost resourcefor actuarial talent globally.
Our Mission is to be the premier executive recruiting firm specializing in the placement of Actuaries and Analytics professionals; to be recognized for the best service, integrity and forthrightness that the firm brings to each business relationship, and to be willing at all times to sacrifice short-term gain for the long-term good and prosperity of our clients, our candidates and, as a result, our organization as well.
MONDAY LUNCHEON, GIVEAWAY ITEM
EY
EY is a recognized leader in providing insurance and actuarial advisory services to life, health, property and casualty insurers and reinsurers. Our dedicated team of professionals span many disciplines and offer a well-rounded understanding of business issues and opportunities for our clients. We deliver high quality, multi-disciplinary and creative business solutions to the industry. Learn more at http://www.ey.com/us/actuarial.
EXHIBITOR
EZRA PENLAND ACTUARIAL RECRUITMENT
Ezra Penland Actuarial Recruitment was established by Sally Ezra and Claude Penland, ACAS, MAAA, partners with over 40 years of combined industry experience. With the industry's leading actuarial salary surveys and an insightful actuarial recruiting staff, our goal is to be the top actuarial recruitment firm in the world while serving the long-term needs of clients and actuaries.
Our educated, knowledgeable and highly-trained staff will always exhibit business ethics, integrity, empathy and strong listening skills to help you reach your business goals. Ezra Penland works on both retained and contingent searches at all levels of actuarial analysts, credentialed actuaries and senior roles.
Attendees can get a copy of the ALL NEW, UPDATED Ezra Penland US Property & Casualty Actuarial Salary Surveys at our Exhibit Booth. These four surveys are split by Consulting, Reinsurance, Insurance/All Other, and All Employers Combined. Attendees can also pick up a handy Ezra Penland notebook to jot down notes throughout the CAS CLRS Meeting.
EXHIBITOR, GIVEAWAY ITEM, CHARGING STATION
MILLIMAN
Milliman is a global consulting firm with extensive expertise in all lines of insurance. Our Property and Casualty practice provides clients with industry leading pricing, underwriting, claims, and marketing analysis utilizing advanced machine learning and predictive modeling methods. The firm’s reserving software, Arius ®, offers some of the industry’s most advanced reserving capabilities, combining both stochastic and deterministic tools. Triangles on DemandTM gives everyone on your reserving team immediate access to any data, at any level of aggregation or granularity, directly on their desktop. Additionally Milliman provides a full suite of actuarial and consulting services such as evaluation of loss and expense reserves, funding requirements, risk retention, insurance management and operations, financial analysis, claims and underwriting consulting, and reinsurance expertise.
EXHIBITOR, GIVEAWAY ITEM
PRYOR ASSOCIATES EXECUTIVE SEARCH
"It Takes One to Know One… An Actuary Placing Actuaries (and Related Professionals)"
Named a top recruiting firm by Dun & Bradstreet, Pryor Associates has 47 years of insurance (P&C, Health, Life, Pensions, & Investments) placement experience.
Pauline Reimer has directed the Actuarial, Modeling & Risk Division since 1986, after working as an actuary in insurance and consulting firms. She has personally attained Associateship in the Society of Actuaries (ASA), affiliate membership in the Casualty Actuarial Society (CAS), membership in the American Academy of Actuaries (AAA), affiliate membership in the Institute and Faculty of Actuaries (IFoA), and membership in the International Society of Catastrophe Managers (ISCM).
Saluted by the Casualty Actuarial Society as its Centennial Partner, Pauline is also gratified and honored by her appointments to the Society of Actuaries' inaugural Advisory Panel as well as Entrepreneurial Actuaries Section council; Executive Board of ASNY (Actuarial Society of Greater New York) as Vice President of Public Relations; and Advisory Boards of both Columbia University's MS in Actuarial Science program and New York University's BS in Actuarial Science program.
Quoted in periodicals and television, Pauline handles each step of every actuarial and risk assignment personally. Her impressive placement records of 99% retention rate and retained search success ratio confirm her status as one of the most successful recruiters of actuaries and related professionals worldwide. Pryor's motto "It Takes One To Know One... An Actuary Placing Actuaries (and Related Professionals)" seems to describe this best.
EXHIBITOR
ACTUARIAL CAREERS, INC.
Actuarial Careers, Inc. ® is a highly specialized executive recruiting firm exclusively dedicated to the placement and advancement of Chief Actuaries, Fellows, Associates and pre-Associates on a worldwide basis with salaries ranging from $50,000 to $1,000,000.
Our blend of advanced technologies and a unique team approach has made Actuarial Careers, Inc. ® the fastest growing recruiting firm exclusively serving the actuarial community. Our dedicated Property & Casualty team is continuously surveying the market for top candidates and exciting new opportunities.
The entire professional staff of Actuarial Careers, Inc. ® is committed to providing the finest service in the industry. Our institutional clients include insurance companies, consulting firms, investment banks as well as other sector employers offering traditional and non-traditional employment opportunities for actuaries. Actuarial Careers, Inc. ® provides its services on both a contingency and retainer basis.
EXHIBITOR
GROSS CONSULTING
Gross Consulting is a growing actuarial consulting practice with expertise across a wide range of property-casualty issues including reserving, pricing, capital modeling, reinsurance analysis, catastrophe risk management, predictive modeling, and enterprise risk management. Gross Consulting also has innovative software products for use by practicing actuaries:
Cognalysis MultiRate™ is an exciting new predictive modeling tool that easily distills important relationships among variables. It is a valuable tool for actuaries, analysts, and others whose jobs depend on predictive modeling.
Capable of analyzing large datasets, Cognalysis MultiRate utilizes sophisticated technologies, such as automated data grouping and smoothing, Variable Gradient Geospatial Smoothing based on ZIP Code, and more. A variety of tables, charts, and maps are produced during the iteration process and at its completion to assist the user with presentation and understanding of results.
The Cognalysis™ Reserving System is an inexpensive software package to assist the actuary with estimation of loss reserves. It incorporates innovative statistical techniques, reserve ranges, process automation, and insight-provoking graphical output into the traditional loss development framework.
EXHIBITOR, WIFI SPONSOR
PINNACLE ACTUARIAL RESOURCES, INC.
Pinnacle Actuarial Resources, Inc. is an independent, full-service consulting firm that ranks among the largest property/casualty actuarial firms in the United States. Owned by our professional staff, we are large enough to provide a wealth of expertise and world-class solutions, yet small enough to be flexible, timely and cost-effective. We serve a wide range of captive managers, auditors, regulators, traditional insurers, self-insured employers and groups. Our areas of expertise also include predictive analytics, pricing and product management, loss reserving, reinsurance, litigation support and legislative costing. Pinnacle’s Commitment Beyond Numbers philosophy is built on four foundational pillars: expertise, superior communication, empathetic customer service and better business decisions. We are committed to meeting and exceeding your goals, business needs and expectations. Discover more about Pinnacle’s Commitment Beyond Numbers at www.pinnacleactuaries.com.
EXHIBITOR
WILLIS TOWERS WATSON
Willis Towers Watson (NASDAQ: WLTW ) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 territories. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas ̶ the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
MOBILE APP
THE TRAVELERS COMPANIES, INC.
The Travelers Companies, Inc. (NYSE: TRV) is the second-largest writer of commercial U.S. property casualty insurance, and the third-largest writer of U.S. personal insurance through independent agents. Selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in the auto, home and business settings. A component of the Dow Jones Industrial Average, Travelers total assets of approximately $103 billion, shareholders' equity of $25 billion and total revenue of $27 billion, as of December 31, 2015. The company has operations in the United States, Canada, the United Kingdom, Ireland, and Brazil (through a joint venture with J. Malucelli).
Travelers prides itself on offering students and new graduates enriching career opportunities through a variety of internship, development and leadership programs in areas that include actuarial science, finance, human resources, information technology, operations, product management and underwriting. For more information, visit travelers.com/StudentGrads.
EXHIBITOR
A.M. BEST
A.M. Best is a global credit rating organization with a unique focus on the insurance industry. Best’s Credit Ratings are referred to throughout the world as an opinion of the financial strength and creditworthiness of insurance companies. The company publishes a wide variety of analytical data resources, references, and directories and is also the world’s most recognized source for insurance news. Articles and reports generated by A.M. Best’s news staff are published in Best’s Review magazine, the Best's Insurance News & Analysis service and in real-time as part of the BestWire service. The company has offices in the United States, the United Kingdom, Hong Kong, Dubai, Mexico and Singapore, with a news bureau in Washington, D.C. For more information, visit www.ambest.com.
EXHIBITOR
THE AMERICAN ACADEMY OF ACTUARIES
The American Academy of Actuaries is the national association for actuaries of all actuarial disciplines practicing in the U.S. The Academy has over 18,500+ members supporting our mission to serve the public and the U.S. actuarial profession. For more than 50 years, the Academy has assisted public policy makers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy sets qualification, practice, and professionalism standards for actuaries in the United States.
EXHIBITOR, WELCOME RECEPTION, NETWORKING BREAK
THE CAS INSTITUTE (ICAS)
The CAS Institute (iCAS), a subsidiary of the Casualty Actuarial Society (CAS), is offering new technical specialist credentials based on specialized professional education for quantitative professionals.
These specialist credentials are not only for actuaries. These qualifications can be achieved any quantitative professional seeking recognition and educational opportunities in such practice areas as predictive analytics and data science, catastrophe modeling, ORSA and capital modeling, and quantitative reinsurance analysis. Credential holders will be recognized for their enhanced skills and continuing education achievements, set themselves apart from other professionals, secure additional job responsibilities, and attract premium compensation or advance their careers in other ways.
The CAS is partnering with The Institutes, a leading provider in professional education for insurance and risk management, to ensure that the iCAS credentials meet the highest qualifications standards for professional education. Later this year, the CAS Institute plans to announce the full requirements for its first credential and will begin offering its first online course.
EXHIBITOR
GUY CARPENTER
Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist, has over a 90-year history of providing solutions to the (re)insurance industry. With over 2,300 professionals in more than 50 offices around the world, Guy Carpenter delivers a powerful combination of broking expertise, strategic advisory services and industry-leading analytics to help our clients achieve profitable growth. Guy Carpenter is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients industry-leading advice and solutions in the areas of risk, strategy and human capital.
EXHIBITOR
INSIGHT DECISION SOLUTIONS, INC.
Insight Decision Solutions provides a comprehensive, integrated suite of business intelligence systems for insurance providing actuarial, financial and operational analytics, complete with data management and integrated applications. The wide range of embedded applications includes profitability, experience studies, IBNR, sales and marketing, reinsurance, inforce management, performance management and can integrate with predictive analytics. The generic insurance model covers all lines of business: Life, Annuities, Health, Group Benefits, Reinsurance and Property & Casualty. It can be implemented as an ongoing actuarial data warehouse integrating admin and valuation data, or as a stand-alone experience study system. The system is built on Microsoft SQL Server with Analysis Services, delivered through Microsoft Excel, deployed onsite or in the cloud, and can be integrated with enterprise BI reporting tools. The system enables companies to make faster and better decisions, provide confidence in data, and enables staff to focus on analysis rather than working in support of the data. For more information visit us at www.insightdecision.com.
EXHIBITOR
INSUREWARE
Insureware is the world’s leading authority on the management and measurement of long-tail liability risks. Its flagship long-tail liability software product ICRFS-Plus™ and associated eConsulting services are based on many years of research and development by a talented R&D team. Insureware’s R&D team has made contributions to new statistical methodologies and members of the team have published widely in international actuarial and statistical journals. ICRFS-Plus™ has a comprehensive user interface and impressive computational speed. It incorporates a unique collection of benefits and applications and delivers vital knowledge that cannot be obtained in any other way. ICRFS-Plus™ has direct applications to loss reserving, segmentation pricing, creative reinsurance solutions and optimal retention, pricing retrospective and prospective aggregate stop-loss and excess of loss, and modeling relationships between lines of business, segments and layers critical to economic capital determination, optimal capital allocation by LOB and calendar year, dynamic financial analysis, and Solvency II. A single composite model measures the reserve, underwriting and combined risks for each LOB and the aggregate. One double click loads the model and graphically displays the volatility structure of each long tail LOB in your company and their inter-relationships (correlation structures). All the critical financial information such as risk capital allocation by LOB and calendar year, and Tail Value-at-Risk for different time horizons can be computed in a matter of seconds. A company-wide report can be created with a single report template. ICRFS-Plus™ also incorporates a flexible data management system that makes access, storage, communication, and transfer of unparalleled information and knowledge within a company highly efficient. Insureware creates a unique collaborative partnership with each client. The partnership facilitates the growth of detailed and company specific knowledge, benefits, and applications. In relationship with A. M. Best, Insureware offers subscribers to Best's Schedule P the opportunity to download free of charge, all the data in an ICRFS database together with a suite of tools for actuarial analysis, embracing all standard methods and many more, as contained in our ICRFS-ELRF™ package.
EVENT MOBILE APP
Download the free CAS Events mobile app to your smartphone or tablet and make the most of your time while you're with us at the meeting!
Get real-time schedule and speaker updates, the most current version of the list of attendees, speaker information, feedback opportunities, maps, exhibitor and sponsor details and more! You can also follow the CLRS Twitter feed (#CLRS2017) and join the conversation.
DOWNLOAD THE APP
The app is available for download on iOS and Android devices. All other devices (Blackberry, Windows, etc.) may access the web version of the mobile app.
- iPhone and iPad users–search "casualty actuarial society" on the Apple App Store.
- Android users–search "casualty actuarial society" on the Google Play Store.
- Blackberry, Windows, others–go to this address on your smart phones (omit www): https://cas.gatherdigital.com
MOBILE APP FEATURES
Setup Your Account
To enable your account, open the app, select 'More' or side swipe to the right to view the menu, and select 'Login.' Please enter the email that you used to register for the conference and select 'Request a Password.' You will receive an email with a link to create your personal app password.
Create a Profile
You may create a profile and upload a photo of yourself that other event attendees can view. Once logged into the app, select your email address at the top of the menu. This takes you to the 'My Account' screen where you can 'Edit' your profile and upload a photo.
Attendee to Attendee Messaging
Connecting with fellow attendees through the mobile app's messaging feature is a great way to network up to and during the event. Once logged into the app, go to 'Messages' and select the pencil and paper icon in the upper right hand corner to compose a message to another logged-in attendee. You may also send a message from the 'Attendees' section by selecting a logged-in attendee (indicated by an envelope icon next to the attendee's name in the Attendees list).
KEYNOTE ADDRESS: RESERVING 2020 (OR MAYBE SOONER...?)
This general session will explore the impact of dramatic changes in the underlying loss generating processes on reserving functions. The digital evolution of the economy includes dramatic, unprecedented changes such as cloud computing, machine learning, artificial intelligence, telematics, connected life, and industrial internet. Many of these changes will fundamentally alter the loss generating processes themselves, which traditionally have been known to actuaries only inferentially and indirectly by assessing financial impacts through the collection of claims data. Insurers, and therefore actuaries, have been operating behind an “underwriting curtain,” counting on statistical linkages between exposure and price metrics, economic trend measurements, and claims history (both their own and industry).
Attendees will also learn how the new technologies and analytics will drive fundamental changes in how insurers conduct business and engage with clients. Many insurers are moving “upstream in time,” beyond impact analysis to causal analysis. Causal analysis will allow feedback loops that allow loss mitigation and prevention on an unprecedented scale.
Immediate implications for a reserving function include these questions:
- How do we reflect fundamental changes in the loss process in our reserve estimates?
- If the past is no longer predictive of the future, what can we do?
The speakers will explore these questions and more during this high-level General Session, and encourage attendees to join in a more in-depth, follow-up Concurrent Session.
Moderator:
Anthony Bustillo, Safety National
Speakers:
Philip Schwartz, Chief Global Insurance Architect, Watson Internet of Things
Christopher Gross, President & CEO, Gross Consulting
GENERAL SESSION 1: INTERNATIONAL STRATEGIC PLANNING, ENTERPRISE RISK MANAGEMENT, AND THE USE OF CAPTIVE INSURANCE COMPANIES TO DRIVE CORPORATE VALUE
The growth of Enterprise Risk Management (ERM) is due in part to globalization and the increasing complexity of risk. A growing number of firms are integrating ERM into its strategic planning process to address risks associated with international expansion. Moreover, there is a growing number of cases that provide evidence of the efficacy of captive insurance companies to build a holistic risk management program to address exposures associated with globalization as well as the emergence and evolution of new and more complex risks. Traditionally captive insurance companies have been employed to fund traditional regional exposures to loss such as workers' compensation, professional and products liability, and first party property exposures. This session will discuss how multinational firms are integrating ERM into its international strategic planning process, and how this is driving the use of captive insurance programs to address a growing myriad of global risks. The session will also demonstrate how captive insurance companies, in turn, are driving ERM within its member/insured organization, and enabling it to more effectively address evolving threats such as cyber related first party and third party exposures. The role of the actuary will be discussed focusing on their role with assisting program design, evaluating the captive’s ability to retain risk, forecasting expected losses for premium calculation, and certifying casualty loss reserves.
Moderator:
Alan Hines, Managing Director PricewaterhouseCoopers
Speaker:
M. Michael Zuckerman, Associate Professor, Temple University Fox School of Business
GENERAL SESSION 2: BEHAVIORAL FINANCE FOR ACTUARIES
Decision makers are often not rational which can lead to poor decision making as a result of behavioral bias. This is particularly important given the Actuaries’ Code requirements and FCA focus in this area. This session is based on the findings from primary research carried out with actuaries in April 2016 and looks at:
- What biases actuaries demonstrate in practice
- Whether actuaries are more or less biased than the general population
- How actuaries can minimize the impact of biases in their work
- How actuaries can effectively communicate with users of actuarial work
The work has been undertaken by a cross-practice working party, which is reviewing the application of behavioral finance to actuarial work. The aim of the working party is to improve understanding and to provide recommendations of how behavioral finance can be incorporated into actuarial work to enhance the role of the actuary and lead to more effective decision making.
Moderator:
Susan Pino Actuarial, Rewards & Analytics-Human Capital, Deloitte Consulting LLP
Speaker:
Kathy Byrne, Managing Director, Askis
WORKSHOP 1: RESERVING BOOTCAMP
What better way to jump start or refresh your loss reserving skills than in this one day loss reserving boot camp. It will enhance your basic and intermediate skills and prepare you for the more advanced loss reserving topics to be presented in the Casualty Loss Reserve Seminar. Participants will be part of a loss reserving team evaluating and estimating reserves from data organization to selecting the best estimate. Complete with hands on learning, groups will be divided into small teams of five to seven professionals who will work with experienced loss reserving professionals, using realistic loss and expense claims data to: build triangles, compute and select loss development factors, perform a variety of loss and loss adjustment expense reserving methods, compare the results of various methods and their strengths and weaknesses, review additional information and take that into consideration in the methods and estimates, make final reserve selections, compare and discuss differences among teams.
This workshop is appropriate for Actuaries as well as Non-Actuaries. A laptop with wifi capabilities will be required.
WORKSHOP 2: MAXIMIZING THE VALUE OF YOUR ACTUARIAL OPINION AND REPORTS
Your actuarial opinion and reports are reviewed and analyzed by several people, a number of whom are not actuaries. These people include company management, auditors, regulators and in court trials. This workshop will guide you in how to effectively communicate in the language that non-actuaries can understand and how to interact with them.
Each group has different needs for information. Some only want bottom-line numbers, others want to know how you derived your numbers, and some may want to know if you verified your work. The workshop facilitators include a regulator, an actuary who conducts audits, an actuary who testifies in court, an actuary who is a CEO and an actuary who writes opinions on offshore companies that are not subject to NAIC regulations. There will also be a COPLFR representative as well.
WORKSHOP 3: INTERMEDIATE R
This workshop in intended for individuals that already have a familiarity with R. Participants should also already have conducted several data analyses in R.
The Workshop Syllabus will include the following:
- Functions including the use of anonymous functions with *apply or purr::map functions.
- Package development using the roxygen2 package
- Data access and Data Munging
- Reporting via RMarkdown and Sweave
- htmlwidgets
- Version control using git
|
SUNDAY, SEPTEMBER 10, 2017 |
|
|
8:00 a.m. – 2:00 p.m. |
Workshop Registration |
|
8:00 a.m. – 9:00 a.m. |
Workshop Breakfast |
|
9:00 a.m. – 5:00p.m. |
Workshops |
|
4:00 p.m. – 7:00 p.m. |
CLRS Registration |
|
5:30 p.m. – 7:00 p.m. |
CLRS Welcome Reception and Exhibits |
|
MONDAY, SEPTEMBER 11, 2017 |
|
|
7:00 a.m. – 5:00 p.m. |
Registration |
|
7:00 a.m. – 8:00 a.m. |
Continental Breakfast and Exhibits |
|
8:00 a.m. – 9:30 a.m. |
Opening Remarks & General Session 1 |
|
8:15 a.m. – 3:45 p.m. |
Student Program |
|
9:30 a.m. – 10:00 a.m. |
Refreshment Break and Exhibits |
|
10:00 a.m. – 11:15 a.m. |
Concurrent Session 1 |
|
11:15 a.m. – 11:30 a.m. |
Transition |
|
11:30 a.m. – 12:45 p.m. |
Concurrent Session 2 |
|
12:45 p.m. – 1:45 p.m. |
Luncheon |
|
1:45 p.m. – 3:00 p.m. |
Concurrent Session 3 |
|
3:00 p.m. – 3:30 p.m. |
Refreshment Break and Exhibits |
|
3:30 p.m. – 4:45 p.m. |
Concurrent Sessions 4 |
|
5:00 p.m. – 6:30 p.m. |
Reception and Exhibits |
|
TUESDAY, SEPTEMBER 12, 2017 |
|
|
7:00 a.m. – 8:00 a.m. |
Continental Breakfast and Exhibits |
|
7:00 a.m. – 4:00 p.m. |
Registration |
|
8:00 a.m. – 9:15 a.m. |
Concurrent Session 5 |
|
9:15 a.m. – 9:45 a.m. |
Refreshment Break and Exhibits |
|
9:45 a.m. – 11:00 a.m. |
Concurrent Session 6 |
|
11:00 a.m. – 11:30 a.m. |
Refreshment Break and Exhibits |
|
11:30 a.m. – 12:45 p.m. |
Concurrent Session 7 |
|
12:45 p.m. – 1:45 p.m. |
Luncheon |
|
1:45 p.m. – 3:00 p.m. |
Concurrent Session 8 |
|
3:00 p.m. – 3:15 p.m. |
Transition |
|
3:15 p.m. – 4:30 p.m. |
General Session 2 |
|
3:15 p.m. – 4:30 p.m. |
General Session 3 |
MONDAY NIGHT DINNER GROUPS
September 11
Not sure what to do with your free evening? Sign up for a dinner group and explore Philly’s culinary scene with other attendees from the conference. This is a great networking opportunity! The dinner group will meet at the Seminar Registration Desk 30 minutes before the time of the dinner reservation and walk together to the restaurant.
Sign up on-site
Participants are responsible for their own expenses.
Please note that Dinner Groups are purely for informal networking and not third-party business.
Jones - Menu
Cuisine: American
Approximately 11 minute walk from the Loews Philadelphia Hotel
Walking Directions
Price: $30 and under
Reservation Time: 7:30 pm (Meet at the Seminar Registration Desk by 7:00 pm)
Entrepreneurial restaurateur Stephen Starr, owner of Philadelphia's eight most trend-setting restaurants, continues to stimulate the revival of a historic block of Chestnut Street by introducing Jones, a casual comfort-food restaurant and lounge at 700 Chestnut Street. Jones, with its laid-back atmosphere, affordable fare and late-night scene adds a new element to the mix, recreating a nightlife ambiance reminiscent of Starr's Continental Martini Bar and Restaurant, a retro cocktail lounge that helped turn Old City into Philadelphia's most popular neighborhood for a night on the town. Starr hopes Jones will do for Chestnut Street what the Continental did for Old City.
Harp & Crown - Menu
Cuisine: Contemporary American
Approximately 10 minute walk from the Loews Philadelphia Hotel
Walking Directions
Price: $31 to $50
Reservation Time: 7:30 pm (Meet at the Seminar Registration Desk by 7:00 pm)
In the completely renovated space located on Sansom Street between 15th and 16th streets, Harp & Crown will bring together old-world touches of charm and luxury with modern sensibility and functionality. Its glass-façade, 24-foot ceilings, and four chandeliers on the ground floor are glamorous pieces that will be balanced with funky vintage wallpaper and leather club chairs, millwork and natural tones throughout the ground floor. The result is a comfortably refined space to match Chef Justin Petruces' approach to cooking, which highlights seasonal ingredients and global cuisines. Guests may enjoy the delicate yet complex flavors of his new- American dishes amongst the space including a 32-seat bar.
