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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.
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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.
C-16: Research Corner
Hosted by the CAS Reinsurance Research Committee, the Research Corner is a forum to present preliminary reports on works in progress or recently completed.
Dmitry Papush of Swiss Re will present his paper on approximating aggregate loss distributions for the first half of the session.
During the second half of the session, Research Corner participants can pose new problems and demonstrate innovative practical approaches. Individual investigators as well as representatives of research working parties and other groups are encouraged to participate. There is no need to preregister — “walk-in” speakers are most welcome, though advance notice is appreciated whenever possible. Speakers should plan on having 10 to 15 minutes to make their presentations. Attendees who would like to present their work during this session are invited to contact the moderator.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Ahmad Shadman
Panelists:
Dmitry Papush, Jasmine Zhang
The European General Data Protection Regulation Applies to US Companies
The GDPR that goes into effect on May 25, 2018, mandates that firms which collect or process data from EU-based users report any breaches in a timely manner and establish a Data Privacy Officer charged with making sure that the organization complies with the rules. The GDPR applies not only to companies who are based or have offices in a member state of the European Union, but also to those that are headquartered elsewhere, but have access to data from EU-based customers, suppliers or business partners. This has worldwide implications in insurance. At this session a UK insurance expert and a U.S. legal expert present the background of GDPR and what it means for US companies and consulting firms.
Source:
2018 Spring Meeting
Type:
Concurrent Session
Moderators:
Eric Hornick
Panelists:
Shimon Simon, Kevin Angle, Sandy Codding
It was HIM in 2017. What will happen in 2018? Will it be HER?
2017 was one of the top 10 most active hurricane seasons on record for the Atlantic Basin. It was, therefore, a very expensive hurricane year for the insurance and reinsurance businesses in North America. Seventeen named storms, 10 hurricanes, and 6 major (Category 3 or stronger) hurricanes! This is well above the 30-year average of 12 storms, 6 hurricanes and 2 major hurricanes. How did these results compare to what was predicted prior to the 2017 season? Is this a harbinger of things to come in 2018? Can an accurate prediction for the 2018 season be made based on the ENSO (el nino/la nina) conditions? How have these occurrences and the 2018 predictions affected the current insurance and reinsurance market? This panel will review the 2017 season and look at what may be in store for the 2018 season. In addition, it will look at the effect of the 2017 year was on the insurance and reinsurance market in 2018.
Source:
2018 Spring Meeting
Type:
Concurrent Session
Moderators:
Greg Fears
Panelists:
Peter Sousounis, David Snow, Eric Enslin, Hiroyuki Murakami
LL4: Big Data Solutions – Telematics and Cybersecurity Focus
Let’s talk about how the insurance industry’s use of big data has allowed for greater focus on safe driving via telematics solutions and for enhanced understanding and measurement of data breach exposures via cyber risk analytics.
Source:
2018 Underwriting Collaboration Seminar
Type:
Learning Lounge
Moderators:
Helene Baril
Panelists:
Lamont Boyd
CS1: Alternative Capital in the Real World – Perspectives of the Underwriter and the Investor
Alternative capital is quite the buzz in the (Re)insurance world. Alternative capital accounts for an increasing portion of companies ceded reinsurance strategies. Property cat reinsurance is being materially transformed already, with other businesses soon to follow.
Following a very brief overview of the alternative capital landscape, this session will describe how “real world” Alternative Capital strategies are developed and executed, focusing on matching investor and insurer objectives. This is often referred to as “matching the right risk to capital.” The panel will describe the considerations from both the underwriter (risk originator) and investor perspectives, including common misperceptions when approaching an alternative capital strategy.
Source:
2018 Underwriting Collaboration Seminar
Type:
Concurrent Session
Moderators:
Art Zaremba
Panelists:
Chris Dougherty, Dan Brookman
CS7: Understanding Blockchain Technology and Its Insurance Implications
Imagine a world in which paperwork is minimized, if not eliminated. An insurance industry in which claims are verified and handled in real time and in which policy applications are approved or rejected immediately. Imagine if fraud were reduced or eliminated using a distributed ledger. Imagine how much money this increasing automation would save your business. Imagine, in real terms, how much cheaper insurance could become as the savings are passed on to consumers.
With the advent of blockchain, this world may not be far off. Until recently, a crucial piece had been missing: a secure platform for sharing data. The blockchain provides a solution. This session will describe blockchain technology and discuss why it has such extraordinary capabilities. This presentation provides an overview of existing blockchain use cases and touches on the implications for its usage in the insurance industry.
Source:
2018 Underwriting Collaboration Seminar
Type:
Concurrent Session
Moderators:
Susan Bermender
Panelists:
Patrick Schmid
C-18: Severe Convective Storm Modeling Challenges and ENSO Impact
In this session, we will go through the modeling methodology and discuss the key challenges for model. In this session, we will lead you to review the past 60 years of US industry experience and trend, and bring out discussion on pricing challenges for actuaries. Our vendor model expert will provide a brief introduction of SCS modeling components, and dive into major assumptions and challenges, and recommendations of best practices for applying model for pricing. Recent research of ENSO impact to SCS activity will be presented, and a demonstration of how you can incorporate research results into your modeling, pricing, and managing the risk.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Edmund Douglas
Panelists:
Prasad Gunturi, Eric Robinson, Xingzhi Wu
The Most Important Risk Measures You Never Heard Of: Intermediate Spectral Risk Measures
(Part 3 in a series)
Spectral risk measures (a.k.a. distortion or dual utility risk measures) use re-weighted probabilities to provide a rich palette for expressing risk preferences. They allow for “coherent” methods of calculating and allocating risk charges. They can be understood as extensions of TVaR (which is a fundamental building block).
This intermediate session is aimed at ERM professionals who want a deeper understanding of spectral risk measures: what they are, how they work and how to use them. It will build on the elementary session in several ways. First, several families of parametric spectral measures will be introduced, motivated, and explored in more detail. Fitting and calibration will be addressed. Second, a financial view of risk will translate between insurance and financial language and explore the link between risk charges and cost of capital (ROE).
Recommended: Bring your laptop so you can really dig in. If you don't have one, we will still have everything on screen for you to follow.
Source:
2018 Spring Meeting
Type:
Deep Dive Workshop
Moderators:
Emily Allen
Panelists:
Donald Mango, John Major, Stephen Mildenhall, Jesse Nickerson
The Most Important Risk Measures You Never Heard Of: Elementary Spectral Risk Measures
(Part 2 in a series)
Spectral risk measures (a.k.a. distortion or dual utility risk measures) use re-weighted probabilities to provide a rich palette for expressing risk preferences. They allow for “coherent” methods of calculating and allocating risk charges. They can be understood as extensions of TVaR (which is a fundamental building block).
This elementary session is aimed at ERM professionals who want to gain hands-on proficiency using spectral measures. The session will focus on the construction, calibration, communication, and application of a general spectral risk measure.
Recommended: Bring your laptop so you can really dig in. If you don't have one, we will still have everything on screen for you to follow.
Source:
2018 Spring Meeting
Type:
Deep Dive Workshop
Moderators:
Emily Allen
Panelists:
Donald Mango, John Major, Stephen Mildenhall, Jesse Nickerson
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 Spring Meeting
Type:
Concurrent Session
Moderators:
Greg Fears
Panelists:
Michael Starke, Andrew Dalgaard, Jeffrey Casaday, Kimberly Guerriero
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:
2018 Spring Meeting
Type:
Concurrent Session
Moderators:
Greg Fears
Panelists:
Patricia Teufel, Mary Hosford, Brandon Shain
I-2: Intermediate Track - Property Risk Exposure Rating Options
During this session we will cover a comprehensive introduction of rating elements, standard data collection, General Insurance Research Organization (GIRO) reference paper materials, and new PSOLD smoothed component pricing basics and implementation. Comparisons of various industry first loss scales, large policy analysis, actual vs. expected layer frequency testing and International ground-up and excess pricing extensions will be covered as well.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Edmund Douglas
Panelists:
Kevin Hilferty, Don Yahalom
B-1: Basic Track - Reinsurance Treaty Structures and Pricing
If you are searching for a reinsurance boot camp, this is the right session for you. During this session we will cover important questions including:
•Why do we need reinsurance?
•How and why was the treaty structure set up?
•Which information do you need to price a treaty? And How?
Attendees will leave this session with answers for the above questions and more. As a basic track, it will focus on traditional reinsurance treaty structures: Quota Share, Excess of Loss (Per Risk/ Per Occurrence), and Stop Loss.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Ahmad Shadman
Panelists:
Sean Devlin, Joshua Fishman
C-6: Emerging Issues 2
This session will cover emerging issues on the evolving risks presented by autonomous vehicles and the changing US demographics and resultant issues with marijuana and opioid use.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Stanislav Eratt
Panelists:
Gerard Finley, Gerald Deneen
C-5: Emerging Issues 1
This session will cover emerging issues on nanotechnology and artificial intelligence.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Stanislav Eratt
Panelists:
Gerard Finley, Gerald Deneen
C-23: Wheels Spinning
This session will provide an update to the Commercial Auto industry experience, most recently presented at the CAS Wheels Down sessions. Additional industry insights will be given, including bringing in various industry and governmental sources, and a diagnosis of the past and potential remedies for the future. An underwriter and commercial auto product manager who has lived through the wheels ups and downs over the last decade will give their experience from a ground level perspective, including measures to help underwriters improve their insights in this continually challenging line of business.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Bill Wilt
Panelists:
William Wilt, William Burns, Diane Injic
I-1: Intermediate Track - Overlooking Tails
Actuaries are faced with a multitude of decisions when either pricing contracts and establishing reserves. One of the most common decisions to make when confronted with less than fully credible data is establishing what development factors to select, how to weigh them with a library of layered incurred and paid industry benchmarks, and quite importantly trying to assess the length of the "tail".
This session will use a "real life example" of items typically found in an excess casualty submission, a set of industry benchmarks, and lots of ingenuity to try to derive various pricing, reserving, and aggregate distribution indications. The "real" issue is that the illustrative data is 8x8, while it is expected that the actual development could go to 20+ years. Two very skilled actuaries will try to tackle the analysis in different ways: one from a classical probability approach using various transforming, scaling, and duration mechanisms. While the other approach will use a Bayesian Loss Development Credibility model to try to build a maximum likelihood estimate that compromises between the actual and benchmark patterns when confronted with wide ranges.
While at times the presenters will delve into complexities such as using the Cape Cod method, Mata/Verheyen limit adjustments, measuring heteroskedasticity, and loglogistic growth curves, it is hoped that this presentation will provide the practitioner with new tools and ways of thinking for an age-old problem. We will also discuss the measuring of "skill" of indications from five and other years of data when tails are 20+years, with an important concept of not being overconfident when assessing less than mature data.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Bill Wilt
Panelists:
Aleksey Popelyukhin, David Clark, John Buchanan
GS-2: Market Capacity – Now and the Road Ahead
Three reinsurance company and fund executives will discuss reinsurance market capacity from both a U.S. and global perspective. The panel will also discuss the influences of alternative capital options.
More specifically, we will explore:
• What the capacity landscape will look like on the horizon.
• The ILS market and its breadth of exposure for the path ahead.
• The impact of recent US tax law changes on appetite for capacity.
• If there are any other alternative capacity sources to look for.
• If the Pension fund will play a substantial force going forward.
Source:
2018 Seminar on Reinsurance
Type:
General Session
Moderators:
Bill Wilt
Panelists:
Michael Millette, Keith Wolfe, Rob Bredahl
Modeling Applications for Loss Development
Strategies for Modeling Loss Development:
LDFs are simple in theory but complicated in practice. How does one select LDFs with volatile data? What data should be used – broader and more stable data or finer but more volatile? How many years of data should be used? How do LDFs change when moving up retentions? These questions are posed within a statistical framework and some new methods are shown that help address these questions.
A Comparison of Resampling Methods for Bootstrapping Triangle GLMs:
This paper explores different bootstrapping approaches for development triangle based stochastic reserving. The main focus is on explaining why Pearson residual resampling can fail, and how this can be overcome by split-linear resampling. Resampling from a limited Pareto distribution is also discussed, providing a fallback with universal scope.
Source:
2018 Spring Meeting
Type:
Concurrent Session
Moderators:
Peter Tomopoulos
Panelists:
Uri Korn, Thomas Hartl
Excess of Policy Limits Losses and Bivariate Excess Losses
An Actuarial Model of Excess of Policy Limits Losses:
Excess of policy limits (XPL) losses is a phenomenon that presents challenges for the practicing actuary. This paper proposes using a classic actuarial framework of frequency and severity, modified to address the unique challenge of XPL. The result is an integrated model of XPL losses together with non-XPL losses. Conclusion: a modification of the classic actuarial framework can provide a suitable basis for the modeling of XPL losses and for the pricing of the XPL loss component of reinsurance contracts.
Analysis of Bivariate Excess Losses:
The concept of excess losses is widely used in reinsurance and retrospective insurance rating. The mathematics related to it has been studied extensively in the property and casualty actuarial literature. However, it seems that the formulas for higher moments of the excess losses are not readily available. Therefore, in the first part of this paper, we introduce a formula for calculating the higher moments, based on which it is shown that they can be obtained directly from the Table of Insurance Charges (Table M). In the second part of the paper, we introduce the concept of bivariate excess losses. It is shown that the joint moments of bivariate excess losses can be computed through methods similar to the ones used in the univariate case. In addition, we provide examples to illustrate possible applications of bivariate excess loss functions.
Source:
2018 Spring Meeting
Type:
Concurrent Session
Moderators:
Peter Tomopoulos
Panelists:
Neil Bodoff, Jiandong Ren
Beyond Death by PowerPoint
Business experts agree that communications is a, if not the, key to success and increased income. The PPT slides are not “the presentation”, you are. This program is about the simple but essential steps, before putting bullet points on slides to insure you are targeting your audience, have a clear call to action, and a focused message which your audience will understand and remember.
Source:
2018 Spring Meeting
Type:
Concurrent Session
Moderators:
Bill Wilt
Panelists:
Tom Kennedy
LL2: Blockchain Learning Lounge
Continue the conversation on blockchain with Patrick after his presentation. This learning lounge will be an opportunity to discuss blockchain technology; what it is, its capabilities, and how the insurance industry is currently using the technology and future usage.
Source:
2018 Underwriting Collaboration Seminar
Type:
Learning Lounge
Moderators:
Krzysztof Ostaszewsk
Panelists:
Patrick Schmid
LL1: Using Predictive Analytics to Solve Business Problems
What can predictive analytics do to help you solve your business problems? Bring your major frustrations, goals and objectives, implementation concerns. We'll discuss challenges, strategies, and the pros and cons of various predictive modeling techniques and methodologies.
Source:
2018 Underwriting Collaboration Seminar
Type:
Learning Lounge
Moderators:
Randi Woods, Trevor Leitch
Panelists:
Christopher Cooksey, Linda Brobeck
CS15: Catastrophe Underwriting as a Portfolio Exercise
Underwriters often price specific deals on a stand-alone basis. However, for company-wide evaluation, the whole portfolio of underwritings is most important. Chief underwriters must assemble that portfolio. How can they do that optimally and delegate a set of preferences so that individual underwriters using stand-alone analysis act in concert with the global optimum?
Source:
2018 Underwriting Collaboration Seminar
Type:
Concurrent Session
Moderators:
Mark Westmoreland
Panelists:
Morton Lane
C-24: Workers Compensation - Emerging Issues
This session will be an interactive discussion of various workers' compensation emerging issues and their potential impact on the workers' compensation system, including coverage, claims and premium. The emerging issues will include opioids, shared economy, marijuana and wearable technology.
Source:
2018 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Stanislav Eratt
Panelists:
Kevin Bingham, Sean Cooper, Patrick O'Dell, Kristen Tripp
