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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.
Bias in Models
One of the criticisms of the use of big data and predictive analytics in the insurance industry has been the potential for bias. This potentially takes the form of perpetuating inherent bias in the underlying process being modeled or proxy discrimination. The ultimate result can be disparate or disproportionate impact on protected classes. This round table will discuss the meaning of bias and proxy discrimination, what forms this can potentially take in the insurance modeling process, and what steps are being taken my model developers across industries to identify and address bias in models.
Source:
2020 Annual Meeting
Type:
Roundtable Discussion
Panelists:
Roosevelt Mosley
Construction Defect Methodologies and Trends
Construction defect claims continue to plague our industry. Discuss with your peers what loss projection methodologies are being used and how assumptions are trending. Learn about data segmentation, CD claim definitions, and common data challenges.
Source:
2020 Annual Meeting
Type:
Roundtable Discussion
Panelists:
Ronald Kozlowski
From the Field: An Inside Look at Providing Agricultural Microinsurance in Ethiopia and Nigeria
Agricultural microinsurance is a challenging but important solution for low-income rural populations globally. The speakers from the MicroInsurance Centre at Milliman will present real-world project examples from Ethiopia and Nigeria, with a focus on the technical research, pricing, subsidy considerations, and partnerships involved in providing a holistic insurance and risk management solution to smallholder farmers. The session will consider applications to the actuarial field.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Michael McCord, Mariah Mateo Sarpong, Chukwuma Kalu, Mebrahtu Gebre
Cannabis Insurance: The Blossoming Weed
Marijuana is now legal in 11states, two territories (Guam and Northern Mariana Islands) and the District of Columbia. (D.C.) An additional 33 states and four territories allow medical use only. All but three states allow CBD product. With all of this state legalization, marijuana remains illegal under federal law.
This session will first explore various cannabis related entities, coverage areas and issues with securing insurance. The next section will discuss recent hemp and marijuana related coverage lawsuits. These will be followed by a Q&A session regarding incorporating this information into actuarial analyses.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Brenda Wells, Melissa Roeder
How to Effectively Blend Data Science and Actuarial
We often hear unsuccessful stories on data science initiatives in P&C insurance industry. Actuaries should have a stake in them, as actuaries are the backbone of analytics in insurance. Whether we peer review, build models, or influence how limited investment should be spent on improving data & analytics led initiatives, actuaries can play a critical role in driving the success of data science within their company. Using ratemaking and pricing models as an example, we share a few tips on what to do and what to avoid in effectively blending data science and actuarial processes for delivering analytical insights.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Takeshi Yamaguchi, Aditi Baker
Job Losses and the Pandemic – What We Know and What’s Next
During this recent environment of COVID-19 how is the Workers Compensation system impacted? NCCI’s Chief Actuary and Lead Economist will present a summary of the current state of the Workers Compensation environment.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Donna Glenn, Leonard Herk
Lights! Camera! Professionalism!
Have you ever come across professional dilemmas that you wish you had seen in a skit before facing them? If not, now’s your chance! In this virtual format you will witness some fine acting by fellow actuaries while they perform sketches and grapple with such issues. You will walk away from this sessions with a better understanding of ASOP’s, the Codes of Conduct, and how to apply them when you face your own professional ethical dilemmas. This session may be counted as professionalism credit for continuing education.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Michael Toothman, Martin Menard, Melissa Huenefeldt
Actuarial Trivia Challenge
During this session by the Committee on Professionalism Education, participants will use their cell phones to participate in a real-time Trivia game! This session will qualify for Continuing Education in the area of Professionalism, as many questions will relate to Actuarial Standards of Practice, the US Qualification Standards, and/or the Code of Conduct.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Peter Royek, Kendall Williams, Mike Speedling
AI in Actuarial Science
Winner of 2020 Charles A. Hachemeister Prize. https://www.casact.org/about/index.cfm?fa=hach
This paper investigates how actuarial science may adapt and evolve in the coming years to incorporate rapid advances in Artificial Intelligence and Machine Learning and methodologies. After providing some background on machine learning and deep learning, and providing a heuristic for where actuaries might benefit from applying these techniques, the paper surveys emerging applications of artificial intelligence in actuarial science, with examples from mortality modelling, claims reserving, non-life pricing and telematics. For some of the examples, code has been provided on GitHub so that the interested reader can experiment with these techniques for themselves. The paper concludes with an outlook on the potential for actuaries to integrate deep learning into their activities.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Ronald Richman
Year-end Appointed Actuary Report – Discussing Your Results with Management and the Board: Case Studies on Hardest Discussions
Appointed Actuaries have many responsibilities which are outlined in various guidelines. In this session we’ll wrestle with some of the unique challenges and potential issues you may encounter as an Appointed Actuary.
We’ll talk through 5 key case studies of the Statement of Actuarial Opinion, Actuarial Opinion Summary and Actuary Report highlighting the 5 common challenges as well as best practices.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Miriam Fisk, Kathleen Odomirok
Risk Agility: Linking Enterprise Risk Management to Strategy in a Pandemic World
Risk Agility is needed to provide a clear path to linking risk management with a successful approach to strategy.
This session will introduce the three main components of Risk Agility:
• risk intelligence
• bias towards action
• flexibility.
This session will include a lively discussion of the relative importance of those three elements to an ERM program. We will concentrate on examples of Risk Intelligence in action, showing how it reduces the impact of the biases described in behavioral economics.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
David Ingram, William Wilkins
Liquidity Risk Management and Capital Adequacy Assessment
Liquidity risk management is essential to the proper operation of the insurer, the protection of policyholders and financial stability. Past experience demonstrates that even solvent insurers may experience material financial distress, including failure, if they do not manage their liquidity prudently. When confronted with stress events, insurers with insufficient liquidity may be forced to take remedial actions that can amplify or accelerate stresses through the financial system.
The panelists will discuss historical experiences in liquidity failures and in developing core principles of liquidity being developed by the IAIS .
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Chester Szczepanski, Michael Lagomarsino
The Financial Debt in Large Cities and Its Impact: Were Cities Ready for Covid-19?
As more and more of America’s cities go deeper into debt to fund unrecognized liabilities, a potential financial crisis looms.
This session will discuss:
• The large debt of America’s largest cities
• Its impact on us as citizens and members of the insurance industry
• How big cities responded to the Great Recession?
• The impact of the Covid-19 recession and what needs to be done to mitigate it.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Chuck Reed, Sheila Weinberg
Data Ethics
With the use of “non-tradition” or “non-insurance” data becoming more prevalent, how do you balance the availability of data with the anticipated Use Case. With advanced analytics (such as AI or machine learning),how do you ensure that you are not introducing unexpected bias? A topic not only being addressed internally in organizations but from a regulatory perspective, this session will describe Data Ethics and how it’s influencing data management and data analytics.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Tracy Spadola, Peter Bothwell
A New Categorization Scale for Global Tropical Cyclones & the 2020 Atlantic Hurricane Season
Atlantic hurricane seasons have a long history of causing significant financial impacts, with Harvey, Irma, Maria, Florence, Michael and Laura combining to incur more than 350 billion USD in direct economic damage from 2017-2020. The primary drivers of this damage ranged from wind (Laura), to wind and storm surge (Irma, Maria and Michael) to rainfall and inland flood (Harvey and Florence).
This presentation will also discuss the 2020 Atlantic hurricane season, including seasonal forecasts, observed large-scale atmospheric and oceanic conditions and landfalling hurricanes.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Philip Klotzbach, Steve Bowen
COVID-19 – The Good, the Bad and the Ugly
What did the insurance industry do well in this unprecedented worldwide pandemic? What did we do poorly? What should we do differently to better prepare for the next pandemic? Or, even more importantly, what can we do to help our customers prepare? Join us as we discuss important lessons learned from COVID-19.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
James Lynch, Annmarie Baribeau
Climate Change and Risk Management - Extending the Time Horizon
A changing climate creates a risk to, and opportunity for, actuaries specializing in measuring risk of natural hazards. The use of traditional insurance ratemaking techniques, which typically consider risk over a time horizon of one year, may limit the effectiveness of actuaries in contributing to the growing field of climate change research. By extending the time horizon under study, and broadening the scope of their analysis, actuaries may be able be provide significant value in assessing the financial implications of this risk.
This session will present a case study that quantifies the current countrywide exposure to flooding, how it could be impacted by climate change, how this could affect the financial health of residential householders, whether it could impair their ability to meet their mortgage obligations, and what resulting effects might impact other parties. We hope to persuade attendees that actuaries can make significant contributions to climate change research.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Cody Webb, Brandon Katz, David Evans
Social Inflation, What Does it Mean for the Insurance Industry and Credit Ratings
Social Inflation is a term often used to describe various societal trends that may be associated with the increase of some insurance claims costs. In this presentation, learn about some of these trends and some of the factors that may be driving them. Also, learn about steps that insurers are taking to mitigate the impact of social inflation and how AM Best views the topic within the context of its rating process.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Chris Draghi, Greg Dickerson, Christopher Sirota
University Actuarial Programs and the Property and Casualty Industry – CAS University Award Winners Share Their Insights and Best Practices
Interested in learning how companies can partner with universities to prepare the next generation of property and casualty actuaries? Want to know the innovative ways universities are incorporating property and casualty into their curriculum, research, and industry engagement initiatives? Then attend this session presented by representatives from the 2020 CAS University Award winning schools: McMaster University, Middle Tennessee State University, Temple University, and University of Illinois at Urbana-Champaign
Source:
2020 Annual Meeting
Type:
Concurrent Session
Panelists:
Anas Abdallah, Krupa Viswanathan, Don Hong, Anson Lo, Runhuan Feng
Leading-Edge Property and Casualty-Related Research in Academia
This panel consists of several established actuarial scientists who will speak on recent development in academia. Topics of discussion range from telematics to peer-to-peer insurance.
1) Telematics technology: new actuarial techniques have been developed to explore how to integrate telematics information to better predict claims frequency.
2) Peer-to-peer (P2P) insurance: recent academic work has been developed to understand the actuarial theory underpinning the P2P insurance.
3) Hail risk: using a unique data that combines the exposure data from a major U.S. insurer and the radar data from a third-party vendor, the presenter will show the proposed method help improve claim management decisions for the insurer.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Peng Shi, Emiliano Valdez, Runhuan Feng
The Future of Talent: Attracting Tomorrow’s Actuaries
The talent gap is no longer looming—it’s here. Join Gamma Iota Sigma, the insurance industry’s premier collegiate talent pipeline, to get an inside look at what the next generation really wants in an employer and discuss how to turn today’s talent risk into tomorrow’s talent.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Jack Richards, Grace Grant
Tesla "Summons" a Future Without Auto Claims
For more than a century, insurers have leveraged new technology to manage risk and reduce the number of claims. In this session, we'll examine the history of how technology moves us from loss compensation to loss prevention. We'll then do a specific drill-down on how modern automakers are poised for the next big advance, with features like "summon' from Tesla.
Source:
2020 Annual Meeting
Type:
Concurrent Session
Moderators:
Caryn Carmean
Panelists:
Martin Frappolli
Grey Swans and Black Elephants: Why We Keep Getting Surprised and What We Can Learn from Them
History is full of examples of crises that have caught society by surprise but which could be described as grey swans or black elephants, things which were unanticipated but in hindsight were hiding in plain sight. Examples include the oil crisis induced inflation of the 1970s, Hurricane Andrew and other large catastrophes in the 1990s, 9/11, the GFC in 2008, and most recently COVID-19. In each case the sudden onset of unforeseen risks led to serious financial turmoil and major changes in risk management. This session will explore a number of these examples, show what we have learned, and offer thoughts on how things may change from the current pandemic. The session will explore the response to 9/11, including how aggressive risk mitigation has significantly reduced the exposure to physical terrorism, although the threat may be evolving to cyber risks to our interconnected world. The session will conclude by identifying some lurking “black elephants” that should be on our radars.
Source:
2020 Annual Meeting
Type:
General Session
Moderators:
Caryn Carmean
Panelists:
Stephen Lowe, Rade Musulin, Jessica Leong, Leigh Wolfrom
The Opioid Epidemic and Insurance
The opioid epidemic is raging in America. Per the 2019 National Survey on Drug Use and Health. Mortality in the United States, 130 Americans die every day from an opioid overdose and over 10 million people misused opioids in 2018. As a result, there has been a move to seek damages via tort law.
This session will give:
* A quick overview of the crisis
* Its impact on tort liability and insurers
* Anything we can do to mitigate it.
Source:
2020 Annual Meeting
Type:
General Session
Moderators:
Caryn Carmean
Panelists:
Mark Pew, Kevin Harris
The Actuary and Social Justice
Every actuary knows their responsibility towards avoiding unfairly discriminatory variables in ratemaking. But where does the concept of “disparate impact” fit in? And what does it mean towards the responsibility an actuary has to investigate, highlight and fight systematic biases in insurance? This session will explore ways in which actuaries can use data driven approaches to uncover and action inequality.
Source:
2020 Annual Meeting
Type:
General Session
Moderators:
Caryn Carmean
Panelists:
Jessica Leong, Mary Frances Miller, Talithia Williams, Tomantha Kyle
