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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.
Session 18: Building Buy-In: Overcoming the #1 Obstacle to Effective ERM
In this session, we discuss the ERM obstacle most commonly-reported: A lack of buy-in by key stakeholders. We will present common patterns and the reasons behind the resistance from key internal and external stakeholders. We then discuss examples of tools and techniques that have been used to successfully build buy-in throughout various stages of the ERM process cycle, including risk identification, risk quantification, risk decision making, risk messaging, ERM framework, and risk governance. We then discuss a case study of how such techniques helped advance the ERM program while building key allies throughout the organization, advancing the risk culture.
At the conclusion of this session, attendees will:
Understand common patterns and reasons behind the lack of buy-in for some ERM programs
Learn tools and techniques for building buy-in throughout various stages of the ERM process
Learn a case study of how these tools were successfully applied to build buy-in and advance risk culture
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Sim Segal, FSA, CERA
Panelists:
Sim Segal, FSA, CERA; Philip Sherrill
Session 17: ERM Considerations Related to Hedging Program and Derivative use Plan
This sessions will overview of ERM consideration for hedging programs: processes, what monitoring is needed, roles and responsibilities.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Eric Michel Fournier, ASA, MAAA
Panelists:
Aymeric Kalife; Ronald Sleiman, FSA, MAAA; Phil Weeber
Session 16: How Reinsurance Strategy Can Improve Your ERM Scorecard
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Mario E. DiCaro, MAAA, FCAS
Session 15: Artificial (Risk) Intelligence: Convergence of AI and ERM
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Yangyan Hu, FSA, EA
Panelists:
Abhishek Breja; Damon Levine
Session 14: ERM/Capital Implications for Investments
This session covers how ERM and Investments impact one other. The first part of the session will explore how capital charges like the BCAR rating model update shape investment. The second part will provide insight on how the investments function uses the ERM program.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Panelists:
Tobias Gummersbach; Hal Warren Pedersen, ASAA
Session 13: Multi-Economy Modeling
Historically, most companies have most, if not all, of their operations in a single economy. This has allowed Economic Capital Models (ECMs) to be built within that single economy. Increasingly, though, insurance companies are expanding their international operations either organically or through acquisition. As these foreign exposures grow, ECMs need to be expanded to consider the additional risks the company faces. This session will focus on how modelers should approach this challenge. What are the key risks that need to be considered? Are there relationships between these variables that need to be addressed, as well? What are some of the additional strategic considerations that arise (e.g., hedging vs. not FX risk)? In addition to hearing about the modeling challenges, attendees will also hear from a company that recently faced this challenge and some of the lessons they learned from the process.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Mario E. DiCaro, MAAA, FCAS
Panelists:
S. Douglas Caldwell, FSA, CERA, MAAA; Daniel B. Finn, FCAS
Session 12: Enterprise Challenges and Opportunities of Collaborations with InsurTech Companies
As the insurance industry experiences digital transformation, several leading insurers have taken the lead in collaborating with InsurTech companies to achieve their digital objectives. As more companies explore these partnerships, it is imperative to realize the challenges as well as the opportunities and understand how to manage any potential enterprise risks from these partnerships. This session will discuss the following:
What is the strategic reasoning behind having a venture arm to back external organizations and most notably start-ups?
What are some ways in which these collaborations have been structured? What are the strategic visions behind these partnerships?
What are some learnings, challenges and pitfalls to avoid on either side?
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Anthony Dardis, FSA, CERA, FIA, MAAA
Panelists:
Awa Kone, FSA, CERA, MAAA; Jane Wang
Session 11: Insight Available to Download
Numerous great reports and studies are available to the risk practitioner. This session will raise awareness on a few recent reports that should help practitioners in their daily work.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
David K. Sandberg, FSA, CERA, MAAA
Panelists:
Jessica Ou Dang, FSA, FCIA; Sam Gutterman, FSA, CERA, FCAS, FCIA, HONFIA, MAAA; R. Thomas Herget, FSA, CERA, MAAA; Max J. Rudolph, FSA, CERA, MAAA
Source:
2018 Enterprise Risk Management Symposium
Type:
General Session
Moderators:
S. Michael McLaughlin, FSA, CERA, FIA, MAAA
Panelists:
Chandu Patel
Session 9: Navigating an ERM Launch through an Industry Sector Storm: Health Insurer Case Study
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Kathryn Hyland, FSA, CERA, FCIA, MAAA
Panelists:
Sim Segal, FSA, CERA; Philip Sherrill
Session 8: Adding Value with Model Validation
The session will identify processes, tools and policies that each line of defense should have in place to implement a model validation program. Presenters will discuss how to encourage collaboration between the three lines of defense, efficiently leverage expertise of second and third lines of defense, and use the model validation program to affect culture change. The session will be relevant to a variety of modeling context, including life, P&C, investments and reinsurance.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Tyson Robert Mohr, FSA, MAAA
Panelists:
Winston Tuner Hall, FSA, MAAA; Michael Minnes
Session 7: Cyber Risk Management: From the Inside and the Outside
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Panelists:
Ross Albert; Damon Levine
Session 6: Implications for Risk Managers of the Future Trajectory of Regulation and Accounting Frameworks for U.S. Insurers
Recent financial reporting (e.g., IFRS, FASB, PBR) and state, federal and international regulatory developments (e.g., FSOC, US Treasury, NAIC, IAIS) have made it timely for insurers to consider the future trajectory of accounting, regulatory and capital developments over the next three to five years. It will be important for risk managers to consider what questions they should be asking and what actions they should be taking to modify their risk and capital profiles and activities. Answers to these questions will be critical in meeting the challenges and opportunities presented by the changing accounting and regulatory landscapes and different focuses of each accounting standards and regulatory body. Questions to be addressed include:
How do evolving requirements around IFRS, FASB and PBR guidance differ?
How do evolving requirements from state, federal and international regulatory organizations differ?
How will these developments impact the accounting, risk and capital profiles of U.S.-based insurers with international reach?
What business and strategic considerations should insurers take on board in response to these developments?
What questions should risk managers be asking and considering as their organization address these developments?
At the conclusion of this session, attendees will be able to describe the differences in emerging accounting, state, federal and international regulations, identify the impact these developments could have on their respective organizations and understand potential approaches companies are taking to address these emerging developments. Additionally, attendees should be better able to differentiate between emerging guidance from each of these regulatory bodies and understand how preparations for each may need to differ in the coming years.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
James Russell Collingwood, ASA, MAAA
Panelists:
James Russell Collingwood, ASA, MAAA; David Paul, FCAS, MAAA; David K. Sandberg, FSA, CERA, MAAA
Session 5: Evolution of ORSA in the U.S.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Michael McComis
Panelists:
S. Douglas Caldwell, FSA, CERA, MAAA; Elisabetta Russo, MAAA; Chad R. Runchey, FSA, MAAA
Session 4: Operational Risk
Operational risk is the risk of losses resulting from inadequate or failed internal processes, people and systems, or from external events. Given the heterogeneity and scarcity of the data, modelling operational risk within an insurance company is a challenging task. In this context, an alternative is to the lack of historical data is to use the Scenario-Based Approach (SBA) which focuses on scenario analyses that are fed with expert opinion. The quantification of those risk scenarios on a standalone basis leads to the study of their dependence in order to aggregate those operational risks and finally determine the annual aggregate loss distribution to compute the VaR at 99.5%. The objective is to scrutinize the steps of the quantification process in a SBA internal model in order to discuss the robustness of the model.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
David K. Sandberg, FSA, CERA, MAAA
Panelists:
Randi Ellen Woods Marsh, FSA, CERA, MAAA; David K. Sandberg, FSA, CERA, MAAA
Session 3: How to Effectively Embed Stress Testing into a Risk Management Framework to Support Management Action
Forward-looking and stress testing/what-if projections of cash flows, financial statements and capital requirements are critical inputs to a range of business purposes including forecasting, risk management, liquidity management and strategic decision-making. Most noticeably, the risk management landscape has continued to evolve for insurers over recent years and the role of stress testing within risk management frameworks has become more prominent. Further, forward-looking projections have historically been inefficient and performed in silos, making it difficult to scale the process as CFOs and CROs ask for more. This session will discuss how to effectively embed and integrate stress testing in a risk management framework and challenges related to implementation of forward-looking projection processes. This includes a deep dive discussion of:
How to utilize stress testing to inform your risk appetite, calibrate risk limits and monitor a risk profile;
How to overcome challenges in forward-looking projection using a combination of top down and bottom up technique; and
How to consider risk reporting and analytics to get the most out of stress testing results and better inform management decisions.
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Eric L. Clapprood, FSA, CERA
Panelists:
Dwayne Allen Husbands, FSA, MAAA; Youyou Tao, FSA, CERA
Session 2: Value Management under a Risk-Based Capital Regime
Source:
2018 Enterprise Risk Management Symposium
Type:
Concurrent Session
Moderators:
Mark W. Griffin, FCA, CERA
Panelists:
Thomas C. Wilson
Session 1: Keynote Speaker: James Lam
Source:
2018 Enterprise Risk Management Symposium
Type:
Featured Speaker
Moderators:
S. Michael McLaughlin, FSA, CERA, FIA, MAAA
Panelists:
James Lam
C-20B: Finding Peace: Stress Reduction at Work
It’s time to break up with stress. Learn to recognize your stress triggers and what to do with them. An easy step by step guide to reducing stress and finding that peace you crave in the workplace.
Source:
2018 Annual Meeting
Type:
Concurrent Session
Panelists:
Samantha Delory
C-18B: Cyber Insurance Through Different Lenses
The role of the actuary in dealing with cyber risk and insurance is challenging. It’s complicated by the lack of available data as well as the constantly shifting threat landscape. In order to get a better understanding of the cyber insurance market as well as the actuary’s role in quantifying this unwieldy risk, it is important to survey a wide range of perspectives on the matter, especially individuals from different types of entities in the industry. This session will be a panel discussion consisting of cyber professionals from a broker, an insurer, a reinsurer, and moderated by a cyber actuary from ISO. Topics that will be discussed include: the role of the actuary in quantifying cyber risk, opportunities, challenges, market trends, and issues that keep everyone up at night. Live polling will be used to enhance engagement from the audience.
Source:
2018 Annual Meeting
Type:
Concurrent Session
Moderators:
William Von Seggern
Panelists:
Eduard Alpin, Jonathan Laux, Jonathan Laux, Ryan Givens
C-8B: Analytical Data Stores: Should I Really Use a Database?
Analysts have many choices for data storage besides databases, which often are selected for convenience or perceived benefits.
In our session, we will share information about the current state of databases and the new database types (NoSQL databases). After our session, participants will be able to choose the right database for his/her use cases and model traditional table data into a Document database.
After each micro-lesson, we will engage the audience with either:
1. Q&A via mobile app polling or Kahoot
2. 5-minute dialogue session with participants
Our choice will be made in session after determining the knowledge and experience of the participants.
After our micro-lesson on Document databases, we will engage the audience by having them model table data into document data.
Our handouts will be organized by topic (not reprint of slides) and include graphics, use cases for each database type, reference weblinks, and bios.
Source:
2018 Annual Meeting
Type:
Concurrent Session
Moderators:
D. Lee Barclay
Panelists:
Michael Thyen, Jeffrey White, Francis Gribbon
C-19B: Examining Auto Insurance Loss Trends
In a project jointly sponsored by the CAS, PCI, and the SOA, we examine the state by state trends in auto insurance losses. We look both at the covariates which drive those losses and the temporal trends in those losses. This work culminated in a few reports available on the CAS website.
Source:
2018 Annual Meeting
Type:
Concurrent Session
Moderators:
Marcela Granados
Panelists:
Brian Hartman, Elijah Harmon, Cason Wight, Trevor Johnson, Sarah Jane Hansen
C-22: Introducing the Individual-Claim Level Reserving Simulator 2.0
The Committee on Dynamic Risk Modeling, a CAS R&D committee, has engaged with ReservePrism, LLC to develop an individual-claim level simulator that is specifically designed for reserve analysis. The simulator is an open-source platform built with a new R package and an EXCEL API. It can develop distribution and copula assumptions from experience data and simulate open claim development, claim reopenness, IBNR and UPR (future claims) at the individual claim level. 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 work and how to use the simulator.
Source:
2018 Annual Meeting
Type:
Concurrent Session
Moderators:
Keith Allen
Panelists:
Hai You, Kailan Shang, Daniel Lupton
C-4B: 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:
2018 Annual Meeting
Type:
Concurrent Session
Panelists:
Michael Speedling, Martin Menard
C-15: Climate Change and Catastrophes - Correlation or Causation?
Hurricanes Maria, Irma, and Harvey struck the coasts of the United States in late 2017 with estimated combined damage costs of more than $200 billion. Individually, they were some of the costliest hurricanes in US history and they all occurred in the same year. Some meteorologists attributed the severity of these hurricanes to warmer waters as a result of global warming and climate scientists expect to see more of these types of storms in a warmer world. In addition to hurricanes, overall and insured losses due to other weather catastrophes (wildfire, drought, and flood) have also increased significantly over the past few decades. Is this a trend we’ll continue to see in the future? What is the impact on Catastrophe Models? How are insurance companies responding to these changes in 2018 and 2019?
Source:
2018 Annual Meeting
Type:
Concurrent Session
Moderators:
Christopher Gross
Panelists:
Peter Sousounis, Paul Eaton
