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STAY TUNED! If you are anticipating additional search filters by attribute and level to align with the CAS Capability Model, it is coming later this Summer. As the CAS begins to code recorded sessions by specific attributes and levels (starting with the 2023 Annual Meeting), these will be tagged in the CAS database of presentations going forward and should be searchable.
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STAY TUNED! If you are anticipating additional search filters by attribute and level to align with the CAS Capability Model, it is coming later this Summer. As the CAS begins to code recorded sessions by specific attributes and levels (starting with the 2023 Annual Meeting), these will be tagged in the CAS database of presentations going forward and should be searchable.
But you may use the Capability Model now to help you identify topics. For example, if you want to move up one level under the content area “Functional Expertise,” you may search topics in the particular functional area to expand your knowledge.
Recorded content is searchable by Capability Model attribute and level in the CAS Online Library.
GS-1 - General Session on Professionalism: "I didn't know the ABCD does THAT!"
The Actuarial Board for Counseling and Discipline (ABCD) is often mistakenly perceived as solely the disciplinary arm of the U.S. actuarial profession. In fact, ABCD members spend the majority of their time in that role responding to requests by fellow actuaries to engage in informal discussions regarding professionalism issues that they confront each and every day. It is not surprising that, as the breadth of issues in which actuaries are involved continues to dramatically expand, this aspect of ABCD work has increased significantly over the past few years. One area that will be specifically touched upon in this session is the applicability of the Actuarial Standards of Practice and the Code of Professional Conduct to actuarial practice in emerging practice areas. In this session, current and past members of the ABCD will conduct mock counselling sessions to illustrate the value actuaries can derive from this important responsibility of the ABCD.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
General Session
Moderators:
Alan Hines
Panelists:
Albert Beer, Michael Toothman
FS - Global Warning: How the New Rules of Innovation Can Transform Businesses, Propel Nations to Greatness, and Tame the World's Most Wicked Problems
Vijay V. Vaitheeswaran, award-winning author and Energy & Climate Innovation Editor of The Economist, will deliver a provocative keynote address that surveys the megatrends reshaping the 21st century global economy, from the prospects for future pandemics to the disruptive and widespread impacts of climate change. Global warming in particular poses enormous challenges, and if left unchecked, could devastate significant parts of the global economy, turn low-lying and vulnerable parts of the world uninhabitable, spread disease and famine and fuel refugee crises. However, a much more open, accelerated and ambitious approach to climate innovation could also produce many solutions over the next decade as every industry in every geography is forced to respond to this existential threat.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Featured Speaker
Moderators:
Peter Tomopoulos
Panelists:
Vijay V. Vaitheeswaran
Keywords:
Enterprise Risk Management
This session will provide guidance on the areas that an actuary will be called upon by accounting and finance in the preparation of IFRS 17 financial statements. In particular:
1) How the financial statements come together;
2) The questions you could be asked to answer (e.g., drivers of changes in estimates, disclosures on methods & assumptions, reasons for distortions in the profit emergence);
3) The types of disclosures that will be needed and the information that you will need to draw from.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Chandu Patel
Panelists:
Ernest Wilson, Lela Patrik, Isabelle Guerard
FR-3 - Company Specific Risk Factor Disclosures
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Alan Hines
Panelists:
Greg Fears, Erich Brandt, Carolyn Rice
FR-2 - Scalars: Aggregating Capital Requirements Across Regulatory Frameworks
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Matt Killough
Panelists:
Steven Jackson, Maryellen Coggins
FR-1 - Reserving and Financial Reporting for Non-Insurance Company Entities
In this session you will learn about the differences that exist for reserving and reporting for non-insurance company entities.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Lise Hasegawa
Panelists:
George Levine, Eszter Polecsak
DV-1 - Acknowledging and Addressing Invisible Struggles Within Diverse Teams
The actuarial profession strives to function as a meritocracy, but barriers impacting some groups more than others often prevent us from achieving that ideal. Even for credentialed actuaries, being the only person like you in a meeting or among senior leaders presents unique challenges that may be hard for people from the majority to understand. These barriers can hinder their sense of belonging, ability to contribute fully, and limit opportunities for advancement. In this session, we will share data on representation in the actuarial profession, discuss key issues faced by underrepresented groups within the profession, and share strategies that both impacted individuals and allies can employ to address these issues.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Luncheon
Moderators:
Kendra Letang
Panelists:
Jessica Leong, Daniel Fernandez, Simone Walker, Jacob Akstins, Mallika Bender
CP-1 - Estimating Loss and ALAE Reserves in the Challenging World of Construction Defects (CD) Risks by Consideration of Closed Payment Segmentation
Accurately estimating future CD liabilities is often more challenging than estimating other commercial lines due to the complexity of construction, the nature of the litigation, and the number of parties involved, and evolving and changing contract terms and conditions throughout the building process. This presentation will include an interactive discussion including the descriptive background of various challenges and techniques, highlighting key findings and methodologies as presented and published in the 2020 CAS Reserving Call Paper Program. The Excel worksheet accompanying the published abstract will accompany the presentation itself, and findings from the audience members are expected to be shared at the presentation as well as following.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Chandu Patel
Panelists:
James Kahn, Bradley Tumbleston, Wilson Townsend
CL-6 - Modeling the COVID-19 Pandemic: US Perspectives
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Lite
Moderators:
John Wade
Panelists:
Wen Liew
Keywords:
Data Visualization,Reserving
CL-5 - Risk Transfer Practice Note: 2021 Updates
Various regulatory activities, including new reporting requirements, occurring from 2002 to 2005 have provided the impetus for various papers on risk transfer. The American Academy of Actuaries published two: Risk Transfer in P&C Reinsurance: Report to the Casualty Actuarial Task Force of the National Association of Insurance Commissioners in 2005; and Reinsurance Attestation Supplement 20-1: Risk Transfer Testing Practice Note in 2007. This current update builds on the work done a decade and a half ago and adds to the bases of FAS 113 and SSAP 62R within these papers the requirements of Solvency II, which became effective in 2016, and the anticipated implementation of IFRS 17 in 2023.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Lite
Moderators:
Charles Lei
Panelists:
Ernest Wilson, Eduardo Esteva, Derek Freihaut
CL-4 - Discussion of Cyber Insurance
From the Colonial Pipeline to SolarWinds, cyber-crime and cyber insurance have become daily news items. Today cyber risk impacts just about every line of business to varying degrees and in different ways. It also affects many aspects of actuarial work, from pricing and risk management to product development. A better understanding of cyber risk and the relevant issues will improve understanding of this ever-changing landscape. The panel will discuss some of the more critical issues impacting cyber risk and cyber insurance.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Lite
Moderators:
Norman Niami
Panelists:
Norman Niami, Eduard Alpin, Samuel Tashima, Wanchin Chou, Lewis Guignard
CL-2 - Reputational Risk
Reputational Risk is a subject that should be of concern to all practicing actuaries. It not only affects you personally but reflects on your employer and the Casualty Actuarial Society itself. In this session we will start out by presenting guidance provided by the Office of the Comptroller of the Currency on Complex Structured Financial Transactions (CSFT). We will then introduce a brief case study on a reinsurance treaty with a commission that adjusts based on loss experience. Attendees will discuss questions, such as: Is the structure consistent with the CSFT guidance? What are the reserving actuary's responsibilities?
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Lite
Moderators:
Josh Merck
Panelists:
Melissa Huenefeldt, Todd Hess
CL-1 - Evolution of Health Insurance: Including Application of Lessons Learned from Healthcare to P&C Lines of Business
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Lite
Moderators:
Sara Hemmingson
Panelists:
Ryan Cichy
Keywords:
Reserving
AR-5 - Measuring Changes in Inflation: A Non-Technical Discussion of Two Techniques
The session will present two approaches to modeling inflation and its variability. One approach uses a spline to smooth a severity index. The other approach measures the variability in a triangle associated with cyclical changes in the severity trend.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Greg Fears
Panelists:
David Clark, James Ely, Chao Guo
AR-4 - The Actuary and IBNR Techniques: A Machine Learning Approach
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Chris Holt
Panelists:
Ronald Richman, Caesar Balona
AR-3 - Smarter Segmentation for the Lazy Actuary
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Shawn Balthazar
Panelists:
Kacie Kiel, Serhat Guven
AR-2 - Credibility Weighting for Reserving via Bayesian MCMC
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Paige DeMeter
Panelists:
Michael Larsen
AR-1 - Claim-Level Reserving: From Theory to Practice
In this session we will review individual claims reserving models from their mathematical foundations to their practical use.
We will start by a critical study of the current reserving approach based on aggregate triangles, focusing on the advantages and drawbacks for both pure reserving deterministic estimation and stochastic assessment of the volatility. Then, we will provide an overview of the panel of parametric and non-parametric individual claims reserving models available in the actuarial literature, and discuss the potential gains in using such methods as well as the challenges to implement them in practice. Case studies will be presented on different P&C portfolios. Basic knowledge on standard reserving methods is required.
Source:
2021 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Alex Chen
Panelists:
Alexandre Boumezoued
RP5 - ASOP 53 Trivia - and more!
The Committee on Professionalism will present another round of Kahoot Trivia- this time, starting with ASOP 53! Learn professionalism, share what you know, and show off to your friends! This will qualify for CE on Professionalism.
Source:
2021 Ratemaking, Product and Modeling Seminar
Type:
Concurrent Session
Moderators:
John Gleba
Panelists:
John Gleba, Stephen Merkey
Keywords:
Regulation and Law
RP4 - Professionalism, Uh, Finds a Way
Source:
2021 Ratemaking, Product and Modeling Seminar
Type:
Concurrent Session
Moderators:
Rick Sutherland
Panelists:
Rick Sutherland, Shawn Balthazar, Dereck Tanaka, Helen Zhao
Keywords:
Ratemaking, Regulation and Law
RP3 - Wildfire Perspectives
Wildfires have become increasingly devastating in recent years, resulting in significant losses and increasing challenges for insurers. In this session, we will provide an overview of current issues relating to wildfire, and learn how regulators and insurance companies are responding to the increasing threat of wildfire. We will also discuss catastrophe models, and how these models are applicable to wildfire.
Source:
2021 Ratemaking, Product and Modeling Seminar
Type:
Concurrent Session
Moderators:
Kathleen Knudson
Panelists:
Howard Kunst, David Dahl, Eric Xu
Keywords:
Regulation and Law, Extreme Event Modeling
RP2 - Professionalism - Recorded Skits
The CAS Committee on Professionalism Education will present the latest format of material - recorded skits - for discussion! Come prepared to interact with the speakers!
Source:
2021 Ratemaking, Product and Modeling Seminar
Type:
Concurrent Session
Moderators:
Melissa Huenefeldt
Panelists:
Melissa Huenefeldt, John Wade, William Burns
Keywords:
Regulation and Law
RP1 - Disparate Impact - The Impact of the Social Justice Movement on Insurance Rating
Insurance rates in most jurisdictions are mandated to not be unfairly discriminatory. Historically, this has meant that protected risk characteristics were not used in rating. However, the recent focus on social justice has resulted in renewed calls from regulators and legislators to examine this issue. This session will focus on various definitions of disparate impact, the impact these definitions could have on rating plans, and what role the actuarial profession should play in resolving this issue.
Source:
2021 Ratemaking, Product and Modeling Seminar
Type:
Concurrent Session
Moderators:
Mallika Bender
Panelists:
Roosevelt Mosley, Birny Birnbaum
Keywords:
Ratemaking, Regulation and Law
RM7 - Ratemaking with Telematics Data
In Pay-As-You-Drive(PAYD) automobile insurance, the premium is fixed based on the distance traveled, while in usage-based insurance (UBI) the driving patterns of the policyholder are also considered. In those schemes, drivers who drive more pay a higher premium compared to those with the same characteristics who drive only occasionally, because the former are more exposed to the risk of accident.
First of all, we analyze the simultaneous effect of the distance traveled and exposure time on the risk of accident. Semi-parametric models, using Generalized Additive Models (GAM) or Generalized Additive Model for Location, Scale and Shape (GAMLSS) will also be applied using real insurance data. We show how the expected number of claims stabilizes once a certain number of accumulated distance-driven is reached, and propose some explanations to understand this phenomena.
Second, we show that the driving experience of policyholders monitored via a mobile application or a device installed in
Source:
2021 Ratemaking, Product and Modeling Seminar
Type:
Concurrent Session
Moderators:
Victoria Marciano
Panelists:
Roxane Turcotte, Francis Duval, Victoria Marciano
Keywords:
Ratemaking
RM6 - COVID-19 in Workers Compensation - The View Forward
A panel of workers compensation experts will discuss the latest analytics available on the impact of the pandemic on workers compensation systems with a view to how emerging trends may affect future costs. The panel will discuss topics such as emerging COVID claim severity, COVID claim costs in reserve and rate projections, the effects of a vaccine, long-term medical issues of COVID patients, delays in medical treatment, legal presumptions, employers liability, and the impacts of the economic slowdown.
Source:
2021 Ratemaking, Product and Modeling Seminar
Type:
Concurrent Session
Moderators:
David Bellusci
Panelists:
David Bellusci, Rick Poulin, Neal Leibowitz
Keywords:
Ratemaking
