Search Presentations
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.
Refine Your Search
The presentation materials are offered in connection with CAS professional education offerings. © 2022 Casualty Actuarial Society. All Rights Reserved. The presentation materials may contain copyrighted content the use of which has not been specifically authorized by the copyright owner. You are permitted to view and print the materials for personal/professional noncommercial research purposes. Except for the foregoing, you agree not to reproduce, distribute, modify, create derivative works, or commercially exploit the presentation materials without prior written permission from CAS. Please direct any copyright permission inquiries regarding use of the presentation materials to acs@casact.org.
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.
PM-6: Actuaries as Product Managers
Actuaries build numerous skills through their basic and continuing education and on-the-job training. This panel will discuss how the skills gained and experience as actuaries has helped them transition into roles in the product world.
Source:
2019 Ratemaking, Product and Modeling (RPM) Seminar
Type:
Concurrent Session
Moderators:
Cheng Khang Saw, Kristen Dardia Turner, Brett Nunes
Panelists:
Tony Klemme, Adam Tyner, Todd Witte
C-23: Multi-Period Pricing Strategies
The recently formed Long Term Pricing Analysis Working Party (LTPAWP) is conducting research to formalize potential methods, advantages, and standard requirements (data, models) when explicitly accounting for multiple policy periods in a pricing analysis. This session will provide insight into the working party goals and highlight the potential benefits of formal multiple policy period considerations in pricing via a live market simulation. Be prepared to compete!
As the simulation will be web based, please bring a web browser enabled device.
Simulation URL: http://bit.ly/2JGF1Ra
PPT Deck: https://1drv.ms/p/s!At8kzjqwKWLlgX1tPy2PM6gqSZLM
(sorry Microsoft doesn't allow shortened links anymore)
Source:
2019 Spring Meeting
Type:
Concurrent Session
Panelists:
Brian Fannin, Ryan Ferguson, Joshua Newkirk
C-30: The Evolution of Data: Implications for Actuaries
A clothes dryer or a deep fryer? Until now actuaries would mainly build their models based on data that is at their disposal, with limited accuracy and coverage. In our session, learn how to build a modern data analytics team that utilizes new data sources, technologies, and workflows. Also learn how technological advancements in deep learning and big data enable actuaries to use reliable data, updated to the time of the claim (and not just the time of underwriting) and introduce new data-points that were not accessible until now.
Source:
2019 Spring Meeting
Type:
Concurrent Session
Moderators:
Paul Kutter
Panelists:
Jeffrey White, Leandro DalleMule
LL-1: Who Wants to Visualize Like a Baller?!
Want to analyze and visualize data like a baller? Only have 75 minutes to spare? We have exactly the learning lab for you! All you need to do is bring an internet-connected laptop with R Studio pre-installed, and your brain, to Boston, Massachusetts, and our facilitators will prompt you through a brisk and refreshing analytics exercise. You’ll start by reading in some gnarly sharing economy data from our charming host city of Boston. Then you’ll tidy it up and draw out some broad themes. After that you’ll plop it on a map and produce some stunning views, as well as some ugly views so you can see how non-ballers live. Finally you’ll bring it home, undo all your progress, and conclude with some regressions that may or may not help us decide where to hold this conference the next time it’s in Beantown. Whether you’re new to R or simply looking to test your game, you can’t avoid this Learning Lab.
Source:
2019 Ratemaking, Product and Modeling (RPM) Seminar
Type:
Concurrent Session
Moderators:
Betty-Jo Walke, Brett Nunes
Panelists:
Madeline Main, Jim Weiss
R-11: Auto Insurance: What Happened and What Happens Next? (Livestream)
Both personal and commercial auto insurance struggled through the past decade, as low rates and increasing costs drove down profitability. From the loss triangle to the balance sheet, this session will examine how both lines got caught in economic, technological and actuarial waves; how each has struggled to regain its financial footing’ and what trends will confront them in 2019 and beyond.
Source:
2019 Ratemaking, Product and Modeling (RPM) Seminar
Type:
Concurrent Session
Moderators:
John Burkett, Betty-Jo Walke
Panelists:
James Lynch, Kevin Hughes
PM-5: Multi-Product Optimization: Challenges and Opportunities
When trying to understand the customer decision making process it is easiest for us to break the customer decisions into independent, discrete choices: “Will I renew my auto policy?”, “Will I add my motorcycle this year?”, “Will I cancel my homeowners policy before renewal?”. These decisions are not made in a vacuum, even though that is the easiest way for us to model them. The real decision making process is a highly complex one which takes information across multiple products into account. In this session we will dive into the complexity of multi-product optimization. We will begin by discussing the advantages of a holistic view for customer decision modeling and then analyze the barriers to adopting a multi-product optimization strategy. Attendees will leave with a practical roadmap of steps they can follow in order pave the way for multi-product optimization.
Source:
2019 Ratemaking, Product and Modeling (RPM) Seminar
Type:
Concurrent Session
Moderators:
Cheng Khang Saw, Jeffrey Baer
Panelists:
Jon Moran, Drew Lawyer
PM-4: Product Management insights for entering and exiting states / markets
Discussion around product management experience with entering or exiting states, markets, products, etc.
Source:
2019 Ratemaking, Product and Modeling (RPM) Seminar
Type:
Concurrent Session
Moderators:
David Shleifer
Panelists:
Bharat Govinda
C-31: The Impact of Fee Schedule Updates on Physician Payments
Physician payments are the largest category of medical expenditures for workers compensation (WC) claims, comprising approximately 40% of medical costs. Most states have implemented fee schedules that establish maximum reimbursement rates for physician services with three main purposes:
• Ensure adequate access to medical providers
• Contain medical costs
• Provide rules for the price of services provided, thus reducing disputes regarding medical service reimbursements
Using a simple linear regression approach, this study investigates the effect of changes in fee schedules on physician payments. The study also examines a newly developed autoregressive model to estimate prices paid per transaction for physician services during a year in the WC system. The results from the autoregressive model further support the findings produced by the linear regression approach.
https://www.ncci.com/Articles/Pages/II_Insights-Impact-Fee-Schedule-Physician.aspx
Source:
2019 Spring Meeting
Type:
Concurrent Session
Panelists:
David Colon, Paul Hendrick
R-10: Workers Compensation Claim Frequency
This session will describe the relationship between changing demographics and workers compensation claim frequency in recent years. It will also discuss other factors that may affect frequency in the near future.
Source:
2019 Ratemaking, Product and Modeling (RPM) Seminar
Type:
Concurrent Session
Moderators:
Andrea Cablayan, Brett Nunes, Peter Lowth
Panelists:
Steven Weisbart, Patrick Coate
IET-11: Resilience: The Role of Insurance
In 2018, there are 394 natural catastrophe events in the U.S. which generated a total loss of $225 billion and about 40% of the loss was covered by insurance. We are going to introduce the concept of resilience finance, how insurance can play a role in the addressing the societal costs of catastrophes and extreme weather events, and how actuaries can help.
Source:
2019 Ratemaking, Product and Modeling (RPM) Seminar
Type:
Concurrent Session
Moderators:
Christopher Gross, Pamela Sealand Reale
Panelists:
Kiki Wang, Rohini Sengupta
CS10: Reserve Risk: An open-source claims level reserve simulator
No Triangle? Volatile Data? No problem! The simulator is built with R package and an EXCEL API. It can develop distribution and copula assumptions from experience data and simulate future claims at the individual claim level. The Committee on Dynamic Risk Modeling, a CAS R&D committee has engaged a third-party in helping developing this tool, and is free! This session will introduce the methodology and process including claim data analysis, fitting, simulation and reporting. The new simulator will be demonstrated to help the audience understand how it can help their reserving and ERM work and how to use the simulator.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Andy Feng, Thomas Le, Fernando Alvarado, Kailan Shang
CS8: Cyber Risk Case Study: A Scenario-Based Approach to Identifying and Mitigating Key Threats
Cybersecurity threats continue to expand in number and complexity, and finding an approach to managing them effectively is elusive. Organizations are struggling to (a) prioritize among the myriad cyber risks; (b) make a business case for recommended mitigation; and (c) draw a rigorous, defensible line in the sand limiting the scope of cyber risk management. In this session, we begin with the current state of cybersecurity risks. Then, we discuss how a value-based ERM approach uses deterministic scenarios and quantitative models to (a) sort out which cyber risk scenarios to focus on; (b) support mitigation decisions with robust risk-reward data; and (c) define a "cyber risk appetite" to contain the focus of cyber risk management to a manageable level. We will then share some early lessons from a case study that is starting to successfully apply this approach and enhance its cyber risk management, particularly surrounding their use of vendors.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Sim Segal, David Bartholomew, Shahryar Shaghaghi
CS5: Predictive Analytics in ERM: New Opportunities and New Challenges
Each speaker will speak to how P&C, Health and Life are using Predictive Analytics in ERM. Participants will understand what has been done, what needs to be done, as well as successful approaches for incorporating Predictive Analytics into the ERM process. Appropriate use cases will be presented and key Predictive Analytics terms will be defined so that there is applicability to a broad audience.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Martin Snow, Kathryn Koch, Andrea Rome
CS11: Deciphering your Risk Appetite
Risk Appetite and Tolerance can be mind-boggling. Whether your organization is a risk taker or a risk avoider, any level of willingness (or lack-there-of) to take on risk has consequences. This session will demystify the concept of why organizations struggle to understand how Risk Appetite and Risk Tolerance have an unavoidable impact on executing strategic objectives.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Diana Candela, Nick Lasenko
CS21: Model Risk Management: Industry Practices in Action
The construction of the Model Risk Management practice note by the Work Group of the Academy of Actuaries’ ERM/ORSA Committee has exposed various approaches on how companies manage their model risks regardless their size (small, medium, or large) and contract type (short-duration or long-duration). Members of the Work Group will discuss various practices in the industry to mitigate model risk including: How Model Risk Management is organized by a company including roles and responsibilities; The Model risk management cycle; The material models in various type of business; and The model validation process.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Panelists:
David Heppen, Michael Speedling, Joshua Liu, Jon Zeu Wu
CS13: Advances in Cyber Risk Modeling
Cyber risk offers insurers an opportunity to grow their business and help society become more resilient in the face of a new threat. Eye-opening incidents such as Dyn and Wannacry illustrated the potential for catastrophic losses, but insurers remain challenged to understand how often cyber incidents can occur and how these can affect the performance of their business. As a result, cyber risk management decisions on tend to be made with limited data and too much weight is put on intuition or broad assumptions. Risk models help insurers quantify the likelihood, severity, and economic and insured financial impact of cyber incidents. In this seminar, you'll learn about the advances being made in the development of probabilistic cyber risk models and how these can be leveraged to inform risk management decisions.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Scott Stransky
CS2: Model Risk Management: Industry Practices and Regulators' Expectations
This session will discuss insurance industry practices of Model Risk Management including components and practical approaches in managing model risks and implementing a model risk management framework. This presentation will build off of the new practice note on Considerations in Model Risk Management for the Actuary, set to be released by the Model Risk Management Work Group of the American Academy of Actuaries' ERM/ORSA Committee in early 2019. The presentation will cover various practices in different components of model risk management, including: Model risk management policy and governance aspects; Applying processes and policies to various practice areas; Applying and implementing model risk management in different organizations/environments; and Understanding the regulators' point of view on why model risk management matters.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Panelists:
Michael Speedling, Seong-min Eom, Jon Zeu Wu
CS17: Risk Management Based on Stress and Scenario Analysis with a Focus on Longevity Risk
For insurers and reinsurers to better manage product risks across various lines of businesses, management teams must be proactive in recognizing embedded risk factors at the ground level. One of the risks that has always been part of the risks that insurers are facing, and has been gaining more attention is longevity risk. Presenters will demonstrate financial impacts of longevity risk with interest risk by utilizing stress and scenarios analysis for a payout (immediate) annuity product. From a micro-economic point of view, the presenters will show how both longevity and interest rate risks have an effect at the product level. From a macro-economic scale, this session will discuss why companies may carry different risk exposures but face a similar operational dilemma. Longevity risk in various products will be discussed in detail. In addition, a long-term social effect of improved life expectancies from a study by the Institute and Faculty of Actuaries (U.K.) will be used to connect this research. This presentation will also provide an update on the work of the American Academy of Actuaries? Life Practice Longevity Risk Task Force and their most recent research studies that will be of particular interest to ERM practitioners.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Panelists:
Seong-min Eom, Joshua Liu, Steve Prince
CS26: Silent Cyber
Risk covered by your policies that you never priced for or even considered? This is the kind of thing that keeps executives up at night. But with an understanding of the nature of the risk, and information about cyber risk in general, this component of your exposure can still be managed and priced. Case studies around Silent Cyber are presented and discussed.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Christopher Cooksey, Matthew Honea
CS23: Economic Scenario Generators: Insurance Applications And Modelling/Calibration Considerations Near The “Zero Lower Bound”
Ben Bernanke, former chairman of the Fed and Michael Kiley, Deputy Director of Financial Stability at the Federal Reserve Board have recently commented that they expect rates to spend more time near the zero lower bound in coming years. How can life and P+C insurance companies adapt their ESG models and calibrations to the low rate environment? Join this session to find out! Attendees should be prepared to share their feedback with some interactive polling!
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Mark Tenney, Ricky Power
CS18: Getting The Most Out of Your Capital Model
Over the last decade, insurance companies have invested substantially in the development of capital models to satisfy regulatory requirements for their Own Risk and Solvency Assessment (ORSA) process. Capital models capture a total balance sheet view of a company's risks, making them ideal tools to support management in the strategic decision making process. In this interactive presentation, we will demonstrate practical applications of capital models for insurance companies using commercial risk modeling software from Guy Carpenter and RSM. Our presentation includes the following capital modeling applications: Reinsurance Decision-Making, Risk Profile Bench-marking, Allocating Capital for Risk-Based Pricing, Deriving Reserve Risk Margins, and Setting Investment Strategies. Sample models and trial software would be made available to participants at their request following the presentation.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Andy Feng, David Mamane, Sarah Voit
CS1: Risk Evaluation Perspectives: Firm, Sector & Horizon Scanning
This session brings together learnings on risk assessment supporting the evaluation of capital requirements and business model viability. We will provide practical observations to benefit risk modelling actuaries and encourage debate on the assessment of complex risks. 1: Firm Level risk assessment; we will share: ? Natcat modelling: recent Bank of England research on hurricane clustering; ? Assessing internal model drift: the Bank?s approach to monitoring IM drift designed to assess whether IMs remain fit-for-purpose 2: Sector Level risk assessment; we will share: ? Pricing conditions in the Wholesale Market: insights from our annual Monitoring-the-Market survey; including how this is used to assess firms? business plans. ? Stress testing of global risks: our latest stress tests for London Market insurers that cover North American perils. 3: Horizon scanning; we will share: ? Insights of our work on cloud computing & cyber - one of various Bank technology initiatives ? within the context of assessing operational resilience.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Panelists:
Stefan Claus, Cameron Heath, Shintaro Okura
CS20: Model Risk Management - From Qualitative to Quantitative
Presenters will discuss current best practices and potential future changes in MRM, including: 1) basic information regarding regulatory requirements, MRM governance and framework 2) commonly used qualitative and quantitative method in model risk assessment and pros and cons for each method 3) model risk mitigation controls cross defense lines and throughout model life cycle 4) future challenges and opportunities in model risk from disruptive technologies to novel model risk management methods.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Florian Richard, George Alvites, Mengran (Emily) Li, Luis Ortega
CS24: Emerging Risk Insights: The Risks that Change Everything
This session will provide insights from two recent reviews of the emerging risk landscape. These studies promote a proactive risk management culture based on dialog, knowledge, and disciplined risk-taking. The session will share how practitioners can utilize the reports.
The 12th Annual Survey of Emerging Risks (a JRMS research project) summarizes the perspectives of risk practitioners, including revealing comments about the recent evolution of ERM.
Swiss Re's 2018 SONAR Report provides emerging risk insights by theme, potential impact, and timeframe.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Max Rudolph, Tyson Mohr, Brandon Blant, Kathryn Hyland
CS12: Approaches to Risk Management for Insurers and Pension Plans
This session will discuss two approaches to risk management based on recent research sponsored by the actuarial profession. One research project addresses long-term scenario planning focused on low-growth scenarios. The other research project compares the risk profiles of a U.S. pension plan and a U.K. pension plan.
Source:
2019 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Peter Lowth
Panelists:
Max Rudolph, Alietia Caughron, Steve Bonnar
