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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-7: Political Risk and Emerging Markets and Its Implications on Insurance Ratings
During this session, we will discuss how economic, political, and financial system risk across emerging markets have implications on insurance ratings
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Mark Yu
Panelists:
Brad Herman, Ann Modica
LOB-11: MeToo and Sexual Abuse Implications on Employment Practices and General Liability
Jared Zola, partner at Blank Rome LLP and Joseph Kelly, Employment Practices Liability National Practice Leader at Sompo International will discuss the MeToo movement as it relates to sexual abuse coverage issues within Employment Practices Liability and General Liability policies. We will also discuss claims activity trends as a result of this movement.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Anna Berezovskaya
Panelists:
Joseph Kelly, Jared Zola
AR-6: Don't Get Caught with your Correlations Down (or Up): Capitalizing Risk in a Volatile World
Getting the inter-line correlations right has a massive impact on levels of required regulatory risk capital. Correlations need to be distinguished from shared trends and economic drivers. There are different kinds of correlations that are important for loss-modelling – parameter correlation and process volatility correlation. Get a clear handle on these concepts and learn how to incorporate them into model optimisation. You'll learn to distinguish between accident year drivers, calendar year drivers, and volatility correlations using a number of real life LoBs. Why is it necessary to begin by identifying the trends that shape the loss profile for each LoB? The method of Seemingly Unrelated Regressions (SUR), will be explained. In this way allowance is made for correlations from the very start of modelling multiple lines, instead of annexing them to prior distributions. Risk capital metrics and allocation for ORSA and Solvency 2 will also be treated.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Alice Edmondson
Panelists:
David Odell
AR-5: Ranges and Percentiles for Reserves: Three Methods for Each
Risk bearing entities increasingly want more information about estimates of unpaid loss and ALAE beyond a point estimate. Actuaries are asked to provide ranges of estimates and tables of percentile estimates. We will present three methods for developing ranges, three methods for developing percentiles, and have a brief conversation on each.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Gregory Chrin
Panelists:
Daniel Gibson, Scott Whitson
C-49: To Boldly Go Where No Actuary Has Been (Employed) Before
Working as a solo company actuary and wondering if there are others in a similar position who perhaps face similar issues? Don't want to work for yourself but thinking it might be interesting to find an employer who valued your services more highly? Wondering what it would be like to get away from a big, bureaucratic environment? Come hear from others who have made the leap and learn from their experiences.
We will discuss both the challenges and opportunities of working as a solo and/or small company actuary. Be prepared to share your experiences in an interactive format so we can all glean something to take back to our stations.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Brant Wipperman, Deborah Upton, Amber Anseeuw, William Finn
AR-4: LDF Curve-Fitting: Blending Maximum Likelihood with Industry Benchmarks
This session builds on the 2003 paper “LDF Curve-Fitting: A Maximum Likelihood Approach” by showing how prior knowledge can be integrated into the fit. Curve-fitting is useful for smoothing and extrapolating development patterns, as well as in dealing with irregular evaluation ages (i.e., incomplete diagonals); incorporating prior information such as industry benchmarks can help stabilize the fit. The incorporation of prior knowledge is also related to popular techniques such as cross-validation. A case study will be presented using data from the CAS database of Schedule P triangles.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Mark Mennemeyer
Panelists:
David Clark
C-34: New Approaches to Modeling Silent Cyber Risk
Cyber is an emerging peril that can significantly impact profitability in traditional P&C lines of businesses. Cyber risk is constantly evolving and in rapid flux leaving the insurance industry in a world of uncertainty resulting from open-ended policy language or underpriced policies. In this session, Jon Laux from Aon and Ridhima Kale from Guidewire – Cyence will talk about how they are facing this challenge. The session will focus on case studies and disaster scenarios that can help quantify risk from this monumental challenge.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Jonathan Laux, Ridhima Kale
RM-5: Managing Captives with Capital Modeling
Captives need to operate as the insurance companies which they are. All insurance companies need to strategically deploy capital to achieve their operating goals. A robust capital model is the starting point. We will provide an overview of the inputs and outputs of a capital model. In addition, we will present examples for how a capital model can influence strategic decisions such as: (1) coverage layers; (2) lines of business; (3) reinsurance structure; (4) risk appetites and tolerances; (5) capital management, (6) investment strategies.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Gregory Chrin
Panelists:
Daniel Gibson
C-52: University Engagement: Training Actuaries for the Real World
The panel of actuaries will discuss various roles each member has in engaging universities and their students to better prepare them for an actuarial career. Panelists will include the director of the actuarial science department at Illinois State University (ISU), an actuary active in the International Association of Black Actuaries (IABA) and two actuaries who work with ISU in several capacities to help prepare their students. In addition there will be extended discussion on the design and execution of the IABA Actuarial Bootcamp and Pinnacle U, two programs designed to engage students in the actuarial profession with real-world actuarial exercises. This discussion will serve as an example of an educational structure audience members could borrow from to mentor the next generation of actuaries.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Erich Brandt, Gregory Fears, Krzysztof Ostaszewski, Christina Negley, Kendra Letang
FR-3: Bermuda EBS Actuarial Opinions and BSCR: An Update
A presentation of the updated guidance and BSCR changes will be provided during this session. The Bermuda Economic Balance Sheet Technical Provisions Opinion Guidance has recently been updated, and the BSCR is changing for 2019. There will be a representative from the BMA present to answer questions from the audience.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Jason Harland
Panelists:
William Miller, Donald Treanor
PD-5: A-1 Actuarial Communications: Essential Elements and Graphic Stories
This session will begin with a basic discussion of the standard of practice and what should be included in an actuarial communication. It will move into a more in-depth discussion of how to present data graphically to best tell your story, including tips and common pitfalls.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Mark Mennemeyer
Panelists:
Brian Mullen, Kevin Roll
LOB-10: Understanding the Public Sector: Rubric, Risks and Realities
This session will address some of the unique issues that actuaries find in the public sector. Panelists include consultants who specialize in this space along with guest speakers from the City of Austin Risk Management.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Mark Mennemeyer
Panelists:
Mujtaba Datoo, David Duden
RM-6: Risk Transfer: Deposit Accounting vs. Insurance Accounting
Actuaries are well versed in the principles of risk transfer and the various approaches taken to measure risk transfer. However, not much attention has been paid to the mechanics of Deposit Accounting. This session is designed to highlight the differences between Deposit Accounting and Insurance Accounting as well as how Deposit Accounting is updated at each accounting date. The principles of risk transfer, the cash flow testing supporting the risk transfer analysis and Expected Reinsurer Deficit will also be discussed.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Tony Dardis
Panelists:
William Miller, David Brown
RM-8: Insurance Business Transfer Legislation in Oklahoma
Oklahoma recently passed an insurance bill that provides a basis and procedures for the transfer and statutory novation of policies from a transferring insurer to an assuming insurer by way of an Insurance Business Transfer without the affirmative consent of policyholders or reinsured. This panel will discuss the process and procedures required under the law to transfer the direct and assumed policies to another insurer. The Oklahoma law is modeled after the UK's Part VII of the Financial Services and Markets Act 2000. In the UK, the role of the Independent Expert mainly falls to the Actuarial Profession. The panel will discuss the requirements of the Independent Expert report as well as the process and procedures required under the law to transfer the direct and assumed policies to another insurer.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Panelists:
James Mills, Andy Schallhorn, Simon Wong
RM-7: Challenges in Estimating Self-Insured Liabilities
Actuaries encounter a number of issues when developing estimates for corporate self-insureds. The self-insured may change retention, change their third party administrator (TPA), or establish their own case-basis claim reserves using practices that differ from insurance industry standards. As a result, estimates using benchmark loss development factors or factors based on historical loss development limited to the self-insured retained limits may not be very accurate. This panel will demonstrate the potential errors in the estimate using erroneous assumptions and offer tips on how to make adjustments to your estimates to account for changes in the self-insured program. A claims specialist will discuss TPA claims management practices for establishing case reserves and how working with the actuary to evaluate the claims data will ensure the validation of the case reserve adequacy.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
David Third
Panelists:
Lynne Bloom, Matthew Shockley
LOB-9: Flood Modeling and Reserving Considerations
This session will discuss how flood catastrophe models work and how they are different from other catastrophe models. We'll look at how probabilistic flood events are created for locations with and without sufficient historic records and how damage estimates can be determined. We'll discuss how actuaries can use flood models post event to estimate event damages.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Jason Harland
Panelists:
Brandon Katz
C-29: Isn't it True?
The session will promote a discussion by questioning two widely held actuarial beliefs. In each case the counter-point is based on the summing of independent risks by convolution. The first proposition is the the Bornhuetter-Ferguson method is deterministic. The second proposition is that severity risk is diversifiable but frequency risk is not. The session will use polling to gauge audience opinions before and after a discussion of each topic.
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
James Ely, Jingtao (Ethel) Wang
DD-1: Cyber Insurance Overview (Part 1)
At the 2018 Annual CAS Meeting in Las Vegas, I asked attendees to my cyber panel sessions "What is the biggest challenge that still faces the cyber insurance industry?" There were 227 respondents and 65% of them replied "Unknown unknowns." One year later, we will revisit this question and find out whether the cyber insurance market has become more "known" or if the unknowns continue to evoke unease.
The presenter will provide an overview of the market as well as an update on key trends. Major challenges currently facing the industry as well as potential solutions will also be discussed. There will be ample opportunities for audience participation including live poll questions as well as pauses for Q&A during and after the presentation.
Please note: Pre-reading material is recommended before the session begins:
The Aon NAIC study which provides an overview of the cyber market:
http://thoughtleadership.aon.com/Documents/201906-us-cyber-market-update.pdf
The Zurich/Advisen survey which looks at cyber insurance buyer trends:
https://www.advisenltd.com/2019-information-security-and-cyber-risk-management-zurich-cyber-survey/
The attached Guy Carpenter / CyberCube study “Looking Beyond the Clouds” on cyber catastrophe losses.
Source:
2019 Annual Meeting
Type:
Deep Dive Workshop
Panelists:
Steven White, Eduard Alpin, Jonathan Laux, Danny Arnett, Michelle Chia
RM-4: Creating a Great Loss-Model Without Losing a Wink of Sleep
Model specification risk is a major component of reserve risk and it can be mitigated. Learn about the importance of model diagnostics. How to put together an effective toolkit of model diagnostics to apply before submitting your projections to management. How bootstrap simulation can be repurposed as a powerful diagnostic tool. Learn how to read the results of such a test like an x-ray. Your current methods are probably not telling you enough about calendar trends. They are silent forecast killers. You'll learn how to use graphical diagnostics to detect their presence even after loss development modelling. How do you discover the hidden assumptions behind your modelling practice? Achieving best practice demands that all forecasts of future distributions should be conditional on explicitly auditable and controllable assumptions. We will show you how to achieve this. All concepts and methods are illustrated using real-life examples.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Alice Edmondson
Panelists:
David Odell
PD-4: 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 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Jason Harland
Panelists:
Patrick Gilhool, Stephen Merkey, Adam Swartz
PD-3: Professionalism Trivia!
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:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Tony Dardis
Panelists:
Peter Royek, John Gleba
W-1: Introduction to R
If you like math, if you like statistical models, if you like property casualty reserving, you cannot miss this workshop. Attendees will experience an interactive and hands on approach to learning all about R and its application to insurance.
Possible items the workshop will cover include:
• How to install R, R Studio and any of the many R packages.
• Grabbing data, visualizing your data, modeling and saving your data.
• A reserving study which uses new models like Munich Chain Ladder, Dave Clark growth curve and more!
Requirements for this workshop:
• A laptop (PC or Mac)
• Installation of R and RStudio in advance of the workshop (instructions and support for this will be provided)
*This workshop will be limited to a maximum of 20 participants
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Workshop
Moderators:
August Chow
Panelists:
Steven Berman, Saumil Padhya, Scott Sobel
ST-6: Actuarial Reserving Practices and Investment Priorities
An update to a 2014 CLRS general session, this session will start off with the assessment of the current reserving environment, as evidenced in our survey and real time results from the live pulse survey. A discussion with intermixed live pulse questions will follow highlighting current trends and future expectations for reserving: specifically, where companies are looking to improve processes in the future and where they are investing heavily.
Source:
2019 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Jason Harland
Panelists:
Joseph Milicia, Arthur Zaremba
C-24: Not a Talk About Autonomous Vehicles: Advanced Driver-Assistance Systems and Insurance
Autonomous Vehicles attract significant hype, along with disillusionment. While autonomous technology is in early stages of development and testing, already introduced safety features are showing meaningful loss reduction results that will impact auto insurance. How big is the impact and how will carriers respond? We'll discuss how Avinew, an insurtech startup, is building a company that embraces vehicles equipped with advanced safety features.
Source:
2019 Spring Meeting
Type:
Concurrent Session
Panelists:
Luyuan Chai, Steve Walsh, Ed Combs
C-37: Perspectives on Predictive Modeling
Objective: Demonstrate the valid, yet often conflicting perspectives on the use of predictive modeling in insurance.
Description: Each panelist will represent a different perspective
o Data Scientist: building models in light of regulatory and business constraints
o Regulatory: communication, expectations and objectives of regulatory function
o Front End Developer: model deployment
o Product: business perspective, engaging with data science teams to build solutions for their product line
o Voice of the Customer: representing the customer's perspective of the use of predictive modeling in insurance
Source:
2019 Annual Meeting
Type:
Concurrent Session
Panelists:
Christopher Turner, Kristen Dardia, Adrian Cuc, Randall Jacobson
