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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.
Operational Risk Management and how it fits within an ERM framework
The definition of Operational Risk is the risk of loss resulting from inadequate or failed internal processes, people and systems, or external events. New capital requirements for many of the banks and insurers include Operational Risk in the calculation of regulatory capital. Going forward, the measurement and management of Operational Risk is anticipated to receive more emphasis. Unfortunately, Operational Risk continues to be cited as a weak spot in Enterprise Risk Management (ERM) with simplistic assumptions. The purpose of this session is to discuss the major categories of operational risk and the trends observed in the financial industry. This session will be an open forum to discuss current issues and challenges within the risk management organization as they relate to operational risk. The presenters will be Sandy Washek of KPMG and Mary Gardner of Zurich.
Source:
2009 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Mary Gardner
Keywords:
Operational Risk Management, ERM, Enterprise Risk Management
Future Regulation and the Role of the Actuary
U.S. insurance regulators are reviewing the financial regulatory system in light of international principles and standards being agreed at the International Association of Insurance Supervisors (IAIS) and other countries' regulatory solvency systems. They are doing this through the NAIC's Solvency Modernization Initiative started in June 2008. The initiative pulls together the current work that is being undertaken to create a new reinsurance regulatory framework and life insurance principles-based reserving, adds in a study of international solvency regimes and the tools that are used and proposed internationally, and includes the potential for implementation of some new regulatory solvency methodologies. One key part of the initiative is discussion of expansion of the Insurance Holding Company Model Act and the potential introduction of group capital requirements.
Source:
2009 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Kris DeFrain
Keywords:
insurance regulators
The ABCDs of Counseling and Discipline
Mike Toothman, a member of the Actuarial Board for Counseling and Discipline (ABCD), will provide an overview of the ABCD's role and its importance to our profession. He will review ABCD processes and discuss the two primary functions of responding to requests for guidance on professional issues and considering complaints about possible violations of the of Code of Professional Conduct. Mike will lead us through hypothetical case studies similar to cases the ABCD has addressed. Lively audience participation is encouraged!
Source:
2009 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Mike Toothman
Keywords:
Actuarial Board for Counseling and Discipline (ABCD)
Reserve Developments and the Role of the Actuarial Practice
He covered some background information and then addressed three questions: (1) Are reserve developments a cause of, a symptom of, or a lagging indicator of the industry's problems?, (2) Is the SAO serving the industry properly?, and (3) What is the role of actuarial practice?. Chuck walked us through an analysis of financial data of the largest 30 companies in terms of 1-year development statistics.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Chuck Emma
Keywords:
Reserve
CAS activities
He covered the CAS Centennial Goal, the ERM designation for the CAS, basic education and membership, the CAS continuing education policy, and upcoming events.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Chris Carlson
Diversity – Does is Really Matter?
Acheampong defined diversity, walked us through the business imperative, gave us a framework for action, and finished with an IABA example.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Acheampong Boamah
Keywords:
Diversity
Managing Insurance/Reinsurance Portfolios Through the Cycle
The speaker will offer a framework for managing insurance/reinsurance portfolios through the cycle, and will present and discuss: (1) a basic planning model showing the impact of key cycle drivers on insurance results in soft and hard markets, including the impact of loss development and investment income; and (2) the relative performance of new and renewal business during various cycle stages, including an explanation of the "winner's curse" and a demonstration of how new/renewal business might perform in today's market.
With a focus on the role of the actuary, the speaker will also explore how various departments within a company should manage through cycles, particularly when companies are expanding into new lines, territories, or classes. The discussion will include a review of lessons learned from the past.
Source:
2009 In Focus Seminar
Type:
concurrent
Panelists:
Richard Lino
Using Your Professionalism GPS to Navigate the Underwriting Cycle
The changing economic conditions that accompany underwriting cycles can pose varying ethical challenges to actuaries. However, every actuary has a "professionalism" GPS containing the Code of Conduct and Actuarial Standards of Practice specifically designed to navigate you through any business environment. Following a brief discussion of the importance of professionalism, panelists will facilitate the review of several hypothetical case studies that pose ethical dilemmas at varying stages of the underwriting cycle. Each case study will include a review of the relevant Code precepts and ASOPs that will help frame an ethical solution. Audience participation is highly encouraged to produce more thoughtful solutions to the cases. Note that under the current Qualification Standards, three of the thirty CE hours need to be on professionalism topics. This session would provide attendees with 1.8 CE hours related to professionalism.
Source:
2009 In Focus Seminar
Type:
concurrent
Moderators:
Kevin Dyke
Panelists:
Therese Klodnicki, Jennifer Vincent
Balance Sheet Integrity: Point - Counterpoint
The property/casualty insurance industry has long been known to experience variations in profitability; these changes may be attributable to changes in price level, loss experience, reserve levels, and investment returns. This general session will be a roundtable of actuaries from various areas within the industry such as primary companies, reinsurance companies, actuarial audit support, brokers, and rating agencies. Weighing in with their professional views and experiences regarding the strength of insurance companies' balance sheets, the roundtable will examine the industry's major lines of business to determine each line's susceptibility to balance sheet changes throughout the underwriting cycle. In addition, the panelists will discuss the extent to which price volatility, loss experience, loss reserves, and investment returns affect the balance sheet integrity. Finally, the panelists will discuss how companies choose to deal with the challenges that the underwriting cycle and balance sheet integrity presents to the actuarial community.
Source:
2009 In Focus Seminar
Type:
concurrent
Moderators:
Kiera Doster
Panelists:
Alan Hines, Stefan Holzberger, Ronald Zaleski
GLMs - the Good, the Bad and the Ugly
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Chris Cooksey
Keywords:
GLMs
Modeling Paid & Incurred Losses Together
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Leigh Halliwell
Keywords:
Incurred Losses
Statutory Opinions - Nuts and Bolts
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Lisa Slotznick
Keywords:
Statutory Opinions
Enterprise Risk Modeling: A Risk Intelligent Approach
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Keywords:
Enterprise Risk
A Tale of Two States: A Comparison of FL and CA Filing Requirements
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Karen Daley
Keywords:
Filing Requirements
Streamlining the Product Development Process
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
John Black
Keywords:
Product Development Process
Integrating Modeling into Primary Insurance
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Dennis Fasking
Keywords:
Integrating Modeling
Incorporating Risk Load into Property Rates
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Kevin Burke
Keywords:
Risk
Sub-Prime Credit Crisis and its Impact on PC Insurance
Source:
2009 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Chris Nelson
Keywords:
sub-prime Credit Crisis
Professionalism and the Practicing Actuary
Patrick first reviewed the qualification standards and the CAS Code of Conduct. Then, Patrick led the membership through some real life actuarial predicaments. Janet and Cindy first provided extreme opposite views on the topic to spur discussion and the audience joined in from there.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Patrick Gilhool, Janet Duncan, Cindy Tracyzk
Keywords:
Professionalism, qualification standards and the CAS Code of Conduct
Marrying Underwriter Intuition & Predictive Modeling - A Workers Compensation Perspective
As Predictive Analytics and GLM usage increase in popularity there is an increasing challenge associated with optimizing the acceptance and integration of these new techniques into sound underwriting processes and decision making structures. All too often these new tools are met by underwriters with the same skepticism as any other challenge to their established intuitive norms for risk selection.
This presentation will discuss how both actuaries and underwriters can engage each other in cooperative ways through predictive analytic endeavors to both sharpen the underwriters' intuition and skill at risk selection and increase the real-world business case perspective of the predictive modeler. It will explore why no predictive model can be sustained in a vacuum as well as why no underwriter should address any predictive modeling project with anything less than a strong enthusiasm for the insights that can be garnered through the process. Finally, the presentation will give examples of how predictive models can help to mitigate some standard intuitive underwriting decision traps and how an underwriter's intuition into the daily use cases for a predictive model can help stave off degradation of model stability.
Source:
2009 Regional Affiliate - CANW
Type:
affiliate
Panelists:
Gaetan Veilleux
Keywords:
Underwriter, Predictive Modeling
Handling High Dimensional Variables
Handling high dimensional variables or simply too many variables is often a necessary step in predictive modeling. This session provides an overview of five techniques and compares the results on a common application. Note this session was originally presented at the first CAS RPM Seminar earlier this year.
Source:
2009 Regional Affiliate - CANW
Type:
affiliate
Panelists:
Shawna Ackerman
Keywords:
Variables
The Stars are Aligned for P&C Analytics
Infrastructure capabilities (storage, computing, software, etc.) have aligned with the availability and access to data and advances in Algorithmics to open up all kinds of possibilities for analytical solutions within the P&C industry. I will talk about a number of these interesting possibilities and showcase examples from predictive modeling initiatives in both commercial lines (WC Premium Audit Modeling) and personal lines (Homeowners Risk scoring).
Source:
2009 Regional Affiliate - CANW
Type:
affiliate
Panelists:
Karthik Balakrishnan
Keywords:
P&C Analytics
Developing Your Own Vehicle Symbols
After providing a background on predictive modeling and vehicles symbols, Serhat discussed techniques for creating proprietary symbols within the context of multivariate review, including proper tools and diagnostics.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Serhat Guven
Keywords:
predictive modeling and vehicles symbols
Reserve Developments and the Role of the Actuarial Practice
He covered some background information and then addressed three questions: (1) Are reserve developments a cause of, a symptom of, or a lagging indicator of the industry's problems?, (2) Is the SAO serving the industry properly?, and (3) What is the role of actuarial practice?. Chuck walked us through an analysis of financial data of the largest 30 companies in terms of 1-year development statistics.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Chuck Emma
Keywords:
Reserve
Current CAS Issues and Future Developments
He covered the CAS Centennial Goal, the ERM designation for the CAS, basic education and membership, the CAS continuing education policy, and upcoming events.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Chris Carlson
