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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.
ST-14: Reserves Call Paper Program
Call paper One
This paper derives an elementary Relative Unpaid Claims Loss Reserving Model using only: (i) accident year incremental losses that were paid during the same calendar year as the accounting date; (ii) relativities of successive accident year unpaid losses as of the accounting date; and (iii) unpaid losses for the oldest included accident year as of the accounting date. Methods to apply the Model are presented along with considerations and techniques to improve accuracy. Several methods derived from the Model are applied to the CAS loss reserve data base historical experience and the resulting unpaid claim estimates are compared to indications using traditional loss reserving methods. Performance accuracy of competing methods is evaluated using a retrospective hindsight test of subsequent emergence. Advantages of the Relative Unpaid Claims Loss Reserving Model include that it requires less data and fewer assumptions than traditional chain ladder methods and results in unpaid claim estimates that empirically appear at least as accurate as estimates derived from comparable generally accepted actuarial loss reserving methods.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Jason Harland
Panelists:
Chandrakant Patel, Bertram Horowitz
C-39: Presentations, Conversations and Articulations: Public Speaking For (Those Who are Not) Dummies
A large part of our day-to-day professional employment involves communicating with others. While many of us often feel we “live” on email, we do also speak with people face-to-face or over the telephone. We also present at conferences such as this one. This session, loosely based on the successful Toastmasters program, will cover some communication tips and tricks, including guidelines for presenting technical material to non-technical audiences. In addition, those attendees who wish will be given the opportunity to speak “’off the cuff” for 1-2 minutes on a variety of topics.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Amy Brener
C-38: Planes, TVs and Automobiles: A Primer on Aviation and Warranty Insurance
Aviation insurance is a unique line of business with many complicated issues. This session will discuss the current state of the market for aviation insurance. This will be followed by the differences between airline and products liability as well as insights on the Boeing 737 Max events and issues related to these. These unique characteristics will be discussed with relation to reserving for this line of business.
This session will also explore Warranty insurance and provide insight into the unique pricing and reserving considerations for this unusual line of business.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Carl Ashenbrenner, Aadil Ahmad
C-53: Use That Data! Predictive Modeling Applications for Claims and Underwriting
Risk management decisions such as those involving claims handling or underwriting can be very complex and resource-intensive. Insurance fraud is also a very costly problem that the industry faces. At the same time, increasing amounts and types of data are available in the industry as well as greater technological capabilities. A major key to success for a company is to be able to marry data, technology, and business expertise to maximize their efficiency and effectiveness. Doing this well leads to quality data-led decisions as well as increased automation and consistency of outcomes. This session will provide some background on the predictive modeling process and how it can be effectively utilized in a claims and underwriting context with insurance companies. Specific examples will be discussed as well as some best practices and important considerations that a company must keep in mind to be successful if looking to utilize their data more fully in the risk management context. Attendees will find benefit in attending this session whether they are new to using data and analytics in this manner or already have some experience in doing so.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Greg Frankowiak, Sang Cho
C-35: The New Frontier of Customized Insurance Products
As more and more medium-sized businesses become more risk savvy and embrace ERM, there is a growing demand for customization of coverage rather than standardized forms. This session will examine the pricing and product development tools being used to address this burgeoning market.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Robert Walling, Andrew Kurata
C-26: Improving Start Up Viability Using Captive Insurance Products
The world of technology start-ups is constantly seeking constantly seeking a competitive edge. Entrepreneurs seek some X factor that will increase the businesses viability by attracting more customers, improving the income statement and balance sheet, and ultimately attracting more venture capital investors offering better terms. A growing number of these companies are identifying customized insurance products as a tool that accomplishes these goals. Rob Walling will present case studies of how specially designed and priced insurance programs have improved the long term viability of several start-ups.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Robert Walling, David Walling
C-45: The Royal Commission Report – Australia
The session covers the Independent review of the Australian Financial Sector which has broad implications for the management, design and pricing of general insurance products. The review places customers interest’s front and centre. The viability of some products and distribution channels are under question and we have already seen, within months of the Commission, the closure of several products by major insurers.
There are significant parallels to changes within the UK as the conduct of financial service entities is more closely examined.
The implications are broad and those for product design and pricing are profound.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Kudakwashe Chibanda, Jefferson Gibbs
C-43: Riding out the Tsunami!
Computer modeling has advanced to a stage that can reliably describe the flood and current of a tsunami for loss estimate and hazard mitigation. The session will use the 2011 Tohoku tsunami as a case study to illustrate the modeling capability and the use of model results along with the newly-released ASCE 7-16 tsunami design code to improve safety of buildings and infrastructure.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Gary Chock, Kwok Fai Cheung
C-5: Actuary or Data Scientist or Both
Actuaries and data scientists share a common passion about the ability to study and use vast amounts of data for analytics. However, that’s where their commonality is different. In fact, many senior managers do not realize that they are trained in quite different ways. This session will discuss how companies can utilize the very unique but very differing skill sets of actuaries and data scientists to build the best analytics team possible.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Kimberly Holmes, Kenneth Hsu, Cheng-Sheng Peter Wu
C-21: Getting In Deep: Flood Risk in a Warming World
While the federal government keeps the NFIP in debt and their insurance rates low, the insurance market is looking to provide more and more private flood insurance outside the NFIP. This session will address the global threat of flood, and the potential for that threat to grow as the climate gets warmer and can support more moisture. RMS has developed a high-resolution flood model that captures all the physics of flooding and marries that with the vulnerability to flood inundation across a diverse range of buildings and occupancies
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Andy Neal
F-1: Innovation and Trust: Building an Ethical Foundation for Artificial Intelligence
Susan Etlinger is a globally recognized expert in digital strategy, with a focus on artificial intelligence, AI ethics and big data. In addition to her work at Altimeter, Susan is a senior fellow at the Centre for International Governance Innovation, an independent, non-partisan think tank based in Canada. She is also a member of the U.S. Department of State Speaker Program, which recruits dynamic American experts to engage international audiences on topics of strategic importance to the United States. Susan’s TED talk, “What Do We Do With All This Big Data?" has been translated into 25 languages and has been viewed more than 1.3 million times. Her research is used in university curricula around the world, and she has been quoted in numerous media outlets including The Wall Street Journal, Fast Company, The New York Times and the BBC. Susan holds a Bachelor of Arts in Rhetoric from the University of California at Berkeley.
Source:
2019 Annual Meeting
Type:
Featured Speaker
Panelists:
Susan Etlinger
G-2: Actuarial Judgment: Drawing the Line
Actuaries do not work in a vacuum, and whether they serve customers within their own company or external clients, the client will invariably have feedback on the actuary’s work product. Recent US tax court cases and class action lawsuits naming actuaries have shed new light on this issue. Panelists will draw on their decades of actuarial experience to consider issues such as to what extent are actuaries required to consider client feedback and/or qualitative or anecdotal information in their assumptions and judgments? To what extend should actuaries consider this information, whether required or not? Between feedback that is clearly innocuous and interactions that are clearly designed to pressure an actuary into biasing their assumptions, there is a gray area. At what point have you crossed the line from making independent judgmental adjustments to being coopted? How can you tell exactly where that line is and what can you do if you fear you have inadvertently crossed it?
Source:
2019 Annual Meeting
Type:
General Session
Panelists:
Joseph Herbers, Scott Weinstein, Deborah Rosenberg
G-3: Innovation's Contribution to Financial Strength
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.”
Charles Darwin
Innovation is how we adapt to change and with the increased pace of change in our world, A.M. Best is proposing a new rating criteria on innovation.
The first speaker will comment on innovations that he observed in the industry and innovation trends.
The second speaker will provide a high-level overview of how A.M. Best rates companies and where this innovation criteria would fit in. He will also mention the proposed timeline for this criteria release.
Both will share positive and negative comments received about this proposal. Aon, as provider of rating agency services for clients, and A.M. Best, from their request for comments.
They will conclude by predicting how the industry may look like in a few years, transformed by innovation.
Source:
2019 Annual Meeting
Type:
General Session
Panelists:
James Gillard, Greg Heerde
G-4: Hawaiian Insurer Panel
Hawaii faces a variety of unique challenges from an insurance company's perspective. For example, catastrophic risks such as hurricane and volcanic eruption affect the entire state. This session will discuss some of the challenges faced by a workers compensation carrier as well as two insurance companies writing diversified books of personal and commercial lines. Likely topics of discussion include the following:
• Comparisons to other state regulatory environments, including a discussion of Hawaii’s unique auto insurance laws that prohibit rating variables proven to be effective in other states;
• Insights on lava exposure in Hawaii, discussing the lack of modeling information to determine pricing, interesting reinsurance issues related to this peril, and oddities in the settlement of claims;
• Unusual dynamics and partnerships resulting from several property insurers writing hurricane-only policies, while other companies write all perils excluding hurricane;
• The impact of recent Hawaii hurricane model updates from some of the key catastrophe modelers which drastically increased the tail risk in these models;
• Current issues impacting workers compensation; and
• Other unique issues faced by Hawaiian insurers, such as the general challenge of insuring risks in one of the most geographically isolated places on earth.
Source:
2019 Annual Meeting
Type:
General Session
Panelists:
Jeffrey Grimmer, Michael Onofrietti, Martin Welch, Guy Avagliano
G-1: Actuarial Challenges Around the World
The contexts in which property/casualty actuaries operate can vary widely from place to place, and from time to time. Cultural, legal, economic and regulatory environments; Catastrophe exposure; Market size, stage of development, and competitive dynamics; Data availability and quality; Development of the actuarial profession -- all these dimensions affect the conduct and delivery of our work in important ways.
In this session we will explore these effects; and how they relate to similarities and differences in the roles, activities, and work products of property/casualty actuaries around the world.
The panel will feature four panelists from distinct environments to illustrate; to compare and contrast; to discuss some of the unique characteristics and issues in their environment; and to explore the implications for actuaries and for the actuarial profession.
Source:
2019 Annual Meeting
Type:
General Session
Panelists:
Ran Guo, Jefferson Gibbs, Dehong Xu, Marc Tardif, Ana María Ramírez Lozano
C-30: 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! Come and see some fine acting by fellow actuaries while they perform sketches and grapple with such issues. You will walk away from this session 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:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Sasha Wiegand, Rebecca Williams
C-3: Actuarial Trivia Challenge!
From the group that brought you Jeopardy!, Family Feud, and Who Wants To Be An Actuary?, the CAS Professionalism Education Committee presents the latest incarnation of its actuarial trivia format. Using the Kahoot app, audience members will answer a series of multiple-choice trivia questions that will test the depth of their knowledge on the profession’s professional standards. See if you can come out on top!
Session participants should walk away from this session with a better understanding of ASOP’s, the Code of Conduct, and how to apply them when facing their own professional ethical dilemmas. This session may be counted as professionalism credit for continuing education.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Andrew Dalgaard, Jeffrey Casaday
C-8: Artificial Intelligence and Insurance Perspective (English)
"Digital and mobile technologies, Internet of Things (IoT), and sharing economy are changing the way we live, and hence changing insurance needs and practices as well. Insurance exposure units are becoming ever smaller and on-demand insurance is taking hold in the marketplace. Vast amount of data is now available in real time for risk assessment.
Artificial intelligence (AI) algorithms are capable of learning from data. In principle, given infinite data, time, and memory, they can learn to approximate any function, including which combination of mathematical functions would best describe the world. Actuaries can employ artificial intelligence to test numerous hypotheses and match them against the data. Unleashing AI on rule and pattern recognition and data crunching has the potential to reduce cycle times and increase price points to meet the insurance needs in a digital era.
In this session, we will discuss how actuaries can incorporate AI into personal and commercial insurance practices and offer regulatory perspectives on incorporating AI in actuarial analyses. "
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Kenneth Hsu, Jingtao (Ethel) Wang, Jianlu Xu, Wanchin Chou
C-2: Actuarial Think Tank: International Travel Insurance
"Scenario: You are an actuary working for a company looking to expand into the International Travel Insurance Market for personal lines. The company is interested in pricing four distinct coverages:
• Trip Cancellation (need to cancel trip prior to departure)
• Trip Interruption (need to terminate mid-trip)
• Medical (need for medical assistance while on vacation)
• Loss or Delay (lost baggage, delayed flight, etc.)
• Evacuation and Repatriation
You’re a member of team responsible for developing the pricing strategy for one of these coverages. Your team is led by a senior actuary who will identify themselves at the beginning of this session. Work with your group to produce an initial framework for pricing this coverage. Considerations may include but are not limited to the following:
• Data Sources/Quality
• Coverage limits/deductibles & aggregate limits for policies covering more than one traveler
• Rating Variables
• Exposure Base
• Exclusions
• Regulatory Concerns including Statistical Reporting
• Product Distribution
You have approximately 30 minutes to work with your team and develop a framework for how to proceed."
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Christopher Turner, Kristen Dardia, Jared Smollik, Raul Retian
C-24: Handling Change in Challenging Times
Whether it is change in your organization, your job, a relationship, or your health, major transitions are difficult for everyone. Do you collapse under pressure or do you relish the opportunity for growth? Your attitude, perspective and actions make all the difference.
When change happens suddenly, it’s like a Hawaii volcano erupting -- the turmoil disrupts everything. The lava eventually cools but we can become stuck and not able to move forward with our life.
Annabel will show you how to see the positive benefits of change and how to turn disruption and pain into new opportunities. She will teach you how to see what’s good about change and how to create options and solutions. You will be able to see things differently, start fresh and move from tragedy to triumph.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Annabel Chotzen
AR-16: Actuarial Case Reserves
The use of case reserves in actuarial development triangles is ubiquitous. Many of the problems encountered in loss reserving stem from systematic changes and inaccuracies in the determination of case reserves. Case reserves currently serve two primary roles – to facilitate the appropriate settlement of each claim, and to provide financial information. These goals are intrinsically at odds with each other.
As a profession, we need to move beyond the use of subjectively determined case reserves to using case reserves that are more appropriate for loss reserving, that we have constructed directly, using objective claim and exposure information. During this session we will discuss how the separation of the dual roles of case reserves will benefit not only the actuaries in their reserving and pricing work, but also the claim settlement function.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
ST-13: An Introduction to the Actuaries Climate Index and the Actuaries Climate Risk Index
During this session, we will discuss the Actuaries Climate Index® (ACI) and the Actuaries Climate Risk Index® (ACRI), both promulgated by the CAS, CIA, AAA, and SOA. The ACI is an educational tool designed to help inform actuaries, public policymakers, and the general public about climate trends and some of the potential impacts of a changing climate on the United States and Canada. The index is an objective measure of observed changes in extreme weather and sea levels. It is intended to provide a useful monitoring tool of climate trends and is updated quarterly as data for each meteorological season becomes available. The ACRI relates the climate extremes to economic and human losses.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Panelists:
Margaret Conroy
LOB-14: Texas Non-Subscription: And the REAL Data Says…
105,000 business are doing this for their Texas workforce! Why? What about the Risks? Are the stories of significant savings and no insurance collateral requirements true?
The data doesn’t lie! In addition to an overview of Texas Nonsubscription, the results of an actuarially confirmed study of TX Nonsubscriber performance metrics will be discussed. Presenting are representatives from Baylor Scott & White Health, one of Texas largest and most notable employers and from PartnerSource, the Texas Nonsubscriber industry’s most significant consultant.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Panelists:
Lisa Havens, Russell Huber
LOB-13: WCRI Research: Findings from Recent Reports
The Workers Compensation Research Institute (WCRI) will highlight its research including the relationship between opioid prescriptions and duration of temporary disability, changes in hospital reimbursement in selected states and recent interstate trends in opioid utilization.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Nina Gau
Panelists:
Sarah Krutov, Ramona Tanabe
ST-12: The Six Million Dollar Man: The Impact on Very Large Claims on Unpaid Claim Liability Estimates
In Statement of Actuarial Opinion work and other situations, actuaries must estimate unpaid claim liabilities on an unlimited basis. Often times, actuaries will remove very large claims from the analysis and separately estimate unpaid liabilities for the jumbo versus all other claims.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
R. Scott Cederburg
Panelists:
Adam Blais, Michael Paczolt, Ann Perkins
