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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.
Reassessing Reserving
In this session, we'll be tackling some of the big questions facing reserving actuaries today. Three speakers are ready to challenge your preconceptions, and push you to think twice about the way in which you approach your work. In the soft market how can you manage the board so the best estimate remains suitably robust and stands the test of time? How do we get beneath the bonnet of our claims data to understand what's really going on, and to tell the difference between short-term volatility and a genuine emerging trend? And how can we develop a qualitative, non-statistical language to meaningfully communicate the uncertainty around our results to a non-actuarial audience.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
John Wade
Panelists:
Chris Smerald, Sarah MacDonnell, Kyle Reed, Joe Monk
Private Reinsurance/Insurance Entering the Public Marketplace
In recent years, government entities have considered buying or bought private reinsurance/insurance (e.g. Florida Hurricane Catastrophe Fund buying catastrophe layer, Fannie Mae and Freddie Mac buying credit insurance [ mortgage reinsurance] ). Private entities have also proposed or implemented reinsurance/insurance products as alternative to government programs or to supplement them (e.g. National Flood Services offering flood insurance product as alternative to National Flood Insurance Program).
After an overview of the public marketplace, the speakers will discuss two of these markets . The first speaker will talk about the challenges & opportunities of private flood reinsurance/insurance. The second speaker will mention the rationales behind the public entities interest in credit insurance and how this works.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Tomer Eilam
Panelists:
Benoit Carrier, Benjamin Walker, John Elbl
Opportunities in Green Consulting
Description: In coming decades societies will have to make large investments in climate change adaptation. Examples include adjusting building codes, reviewing land use, changing the structure of pools such as the NFIP, and investing in coastal defenses against rising sea levels. This will create many opportunities for actuaries to apply skills in areas such as catastrophe modeling and economic capital modeling. This session will review how actuaries can find new opportunities in "green" consulting. A specific example will be used involving enhanced disclosures of climate related issues in financial reporting, which are being studied by the Bloomberg/Carney task force of the Financial Stability Board.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Tomer Eilam
Panelists:
Rade Musulin, Dustin Loeffler, W. James MacGinnitie
Multivariate Class Plan for Underwriting Profit Provision, Varying Capital and Volatility in Class Rates
This is a capital allocation model that considers variability in actual versus expected in historical pricing experience. Classes with larger volatility (different than unfavorable claim experience) generate larger capital requirements and hence a lower permissible loss ratio (PLR). While the capital varies by class, the underwriting return on equity (ROE) is kept constant. Hence stable classes generate lower capital requirement and thus from an underwriting ROE perspective, they generate the same profitability in-spite of a higher PLR.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Tomer Eilam
Panelists:
Zia Rehman, Beverly Phillips, Brett Parmenter
Excess Loss Analyses: Modeling Parameters for the Tail ~ Workers Compensation Excess Loss Development
Modeling Parameters for the Tail
The MLE method works well for estimating the parameters of a loss distribution. However, in some lines of insurance we find that the empirical loss distribution has a much fatter tail than is indicated by the MLE method.
A solution from extreme value theory can be useful here. We fit the losses to a distribution and then select a different distribution for the tail. The proposed method is useful for (1) identifying where the tail begins and (2) selecting parameters for the tail.
Workers Compensation Excess Loss Development
Large loss and excess loss development is relevant in the determination of excess loss factors that are used in NCCI’s ratemaking methodology and in retrospective rating. In this research, NCCI presents results of an update to the periodic review of these development patterns.
In addition to updating our previous analysis, we explore development patterns by size of loss across a broad array of experience and development periods using enhanced visualization techniques.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Tomer Eilam
Panelists:
Martin King, Alejandro Ortega, Kirt Dooley
Lights! Camera! Professionalism!
Come enjoy the acting of some fine fellow actuaries who will take on several skits involving professional dilemmas. The skits are new for 2016, but as always they will lead to some lively and educational audience discussions. You will walk away from this session with a better understanding of the ASOPs, codes of conduct and how to apply them when you face your own professional ethical dilemmas. This session may provide attendees with Professionalism Continuing Education credits.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Tomer Eilam
Panelists:
Patricia Teufel, Brian Donlan, Samantha Lee
Shift Your Brilliance
Shifting your Brilliance happens when you find your own individual spark. This sets in motion a series of events, circumstances, situations, and chance encounters that make an impact on the world. Achieving self-awareness is what makes it possible to move forward in your career, find new ways to solve old problems, and positively affect everyone around you. In this inspiring and invigorating session, participants will engage head, heart and hands to create a sustainable action plan for improving their lives, departments, and organizations. Bruce Barton, one of the founders of leading advertising agency BBDO, said it best: "If you have anything really valuable to contribute to the world, it will come through the expression of your personality, that single spark of divinity that sets you off and makes you different from every other living creature."
In addition to the specific learning objectives stated below, The two competencies that participants will improve during this interactive presentation are:
•Awareness & Insight: The ability to assess one's own strengths, understand how actions impact perceptions and effectively maneuver the culture, climate and politics of the organization at all levels.
•Initiative: The habit of pro-actively seeking new opportunities and challenges; the skill to take ownership and accountability for enhancing results or minimizing problem
Source:
2016 Annual Meeting
Type:
Featured Speaker
Panelists:
Simon Bailey
Who Wants To Be An Actuary?
Come refresh your knowledge of actuarial professionalism in this interactive session! This trivia game will cover a number of topics including a review of the code of conduct and ASOPs, helping you determine what you know and what you might want to review. Who said professionalism can’t be fun? This session may provide attendees with Professionalism Continuing Education credits.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Tomer Eilam
Panelists:
Patrick Gilhool, Michael Chen, Mike Starke
In Demand: The Rapidly Growing Role for Actuaries in the ILS Market
The actuarial role in Insurance-Linked Securities (ILS) has grown dramatically in recent years across a range of areas including pricing, valuation, and product development. As the ILS market continues to develop, actuaries will play a key role in shaping the course of innovation joining the reinsurance and financial markets. This panel will provide updates on some of the key roles actuaries play in the current ILS market, and the unique spin that the ILS environment puts on traditional reinsurance topics of pricing and reserving. It will also consider actuaries' roles in developing the ILS instruments of the future, and the way in which actuaries' roles in ILS may change in the next few years.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Tomer Eilam
Panelists:
Aaron Koch, Michael McKnight
How Does the Affordable Care Act Affect Property and Casualty Insurance?
Many actuarial and insurance professionals recognize the possibility that the Affordable Care Act (ACA) will impact property and casualty (P&C) insurance lines such as auto, workers’ compensation (WC), or medical professional liability. However, rigorous empirical work measuring the effects of the ACA on P&C insurance is scant. In this presentation, we report results from CAS-sponsored research that measures the effect of ACA health coverage expansions on auto and WC claim frequency and severity. Our research exploits rich, micro-level WC and auto claim data and leverages the ACA coverage expansion targeting young adults. We find that both auto and WC claim costs fell due to the ACA young adult health insurance expansions. We discuss how these results may generalize to other P&C lines, and consider how effects may differ for the ACA’s coverage expansions through Medicaid eligibility changes and state-run insurance exchanges.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Joseph Milicia
Panelists:
Martin King, Paul Heaton
How "Smart" is Your Competitive Intelligence?
Most business professionals will tell you that one key to running a successful business is understanding your competition. Who are they? What is their product offering? What are they charging? This last question seems to entrance many companies, to the point that they invest large amounts into staffing and software to stay current on the competition in all markets. But what is the return on this investment?
In this session we will explore different ways companies leverage competitive information and offer recommendation to extract the most value from this business intelligence. There will be a focus on how to generate actionable insights that improve companies? pricing decisions. This session will also utilize live polling to better quantify themes such as:
? What business unit is responsible for competitive intelligence?
? Do you foresee investing more or less in competitive intelligence in the next two years?
? How confident are you in the premium information produced by your competitive intelligence unit?
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Joseph Milicia
Panelists:
Claudine Modlin, Andrew Lawyer
The Future of Mobility: How Self-Driving Vehicles and the Way We Use Them Will Impact the Insurance Industry
Since the first personal auto insurance policy was written over a century ago, the basic insurance model hasn’t changed much: Policies are typically written on a vehicle-by-vehicle basis, protecting the owner and driver if the vehicle is involved in a collision, stolen, or otherwise damaged. It’s clear, straightforward, and as established as almost any business practice.
Now, the future of mobility looks poised to upend that model and change nearly everything about auto insurance: who the customers are, what products they demand, and how to market to them. Indeed, as ridesharing, carsharing, and self-driving cars increasingly replace traditional models of automotive transportation, insurers will have to rethink their role in the mobility ecosystem and their relationship to drivers, owners, and vehicles themselves. Join us for a discussion on how this will shape the personal auto insurance industry, along with the perspective of one insurance company.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Joseph Milicia
Panelists:
Peter Tomopoulos, David Snow, Stefan Peterson, Somil Jain
Foreseeing Synergies: A Changing Global System, Emerging Risks and Catastrophe Dynamics
In human affairs, risks typically do not randomly emerge and human ‘catastrophes’ usually don’t ‘just happen’. They are more usually foreseeable consequences of knowable contexts and conditions, and often of chosen arrangements of things. If you are finding the current and near future global situation hard to fathom, even chaotic in some sense, this presentation frames two major shaping factors that explain much of what we are seeing, not as unforeseeable Black Swans, but as foreseeable consequents of choices and arrangements made. The discussion goal is to remove some of the mystery about human-involved emerging risks and catastrophes.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Panelists:
Guntram Werther
Focus on New Fellows: Volunteering, Millennials and the Growing CAS
The CAS is the organization that has provided New Fellows with development and learning opportunities through the examinations process. New members make up over 1/3 of CAS membership and will guide CAS success into the future. In this interactive session the CAS New Members Committee will discuss their role in the CAS as millennials and volunteers, and ask what CAS membership means to you. New Fellows are encouraged to attend.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Joseph Milicia
Panelists:
Kimberly Guerriero, Rebecca Reich, Matthew Caruso, Paul Grammens, Kristen Dardia Turner
Exploring Changes in A.M. Best BCAR Methodology
AM Best’s Capital Adequacy Ratio (BCAR) and Credit Rating Methodology (BCRM) were significantly changed during 2016. The new methodology represents BCAR scores at various Value at Risk (VaR) confidence levels. During 2016, insurance companies were shown the difference between this new model and the previous. This session will discuss the technical changes and implications on future AM Best ratings. This will be followed by Q&A from the audience.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Joseph Milicia
Panelists:
Thomas Mount, Sarah Voit, Mark Murray
Evolving Cyberrisk - A Multidisciplinary Perspective
Cybersecurity risk is arguably the most visible emerging risk facing the property and casualty insurance industry. Further, because it is constantly evolving, data captured just yesterday may quickly become irrelevant. Join Dr. Kathleen Locklear, MBA, D.Mgt, adjunct business professor at University of Maryland and Senior Director, Global insurance for a large global pharmaceutical company, and Michael Solomon, FCAS, MAAA, CERA for a lively, multidisciplinary discussion on what you need to know in this rapidly changing area.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Kathleen Odomirok
Panelists:
Michael Solomon, Kathleen Locklear, Timothy Paddock
Enhancing Decision-Making for Today's Insurance Market - The Analytical Path to Customer Centricity
In response to new market realities, a growing number of North American insurance companies have recognized the need to establish tighter and more engaging relationships with their customers, and are looking into doing so with improved use of analytics.
In the modern age of insurance, financial institutions collect large amounts of customer data. Utilizing a variety of different channels, insurance companies have more information than ever before. However, to improve customer experience, this information needs to be used intelligently. The implementation of customer centric processes and technology does not happen overnight. In the North American insurance industry, a successful implementation necessitates a robust process and technological solution that can cope with a number of specific challenges. These include effective ways of dealing with ?Big Data?; lack of in-house analytical sophistication; limited time-to-market capabilities; and ability to measure the impact of various decisions around pricing, propositions, marketing, and more. This session will review these common hurdles and propose effective solutions to address them.
This session will review common hurdles to adopting this advanced analytics techniques and propose effective solutions to address some of the challenges along the path to Customer Centricity:
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Ian Sterling
Panelists:
Andrew Lawyer
Diversity in the Actuarial Profession: An Essential Competitive Edge
Diversity and Inclusion initiatives have become key in business and other organizations to increase employee retention and engagement, boost recruitment, and to foster innovation. Forbes and McKinsey have both recently released studies that identify Diversity as a critical factor of being successful in competitive industries.
This session will feature a panel of company representatives sharing their unique perspectives on diversity in the insurance industry. Specifically, how cultivating diverse actuarial and analytic units within organizations improves financial performance and supports more effective communication and collaboration across functional areas. The panelists will cover recruiting best practices, the importance of maintaining an inclusive culture and perspectives of candidates in today’s job market.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Paul Vendetti
Panelists:
Alejandro Ortega, Kelly Lewis, Kofi James, Meg Gibbon
Data Accuracy in Commercial Insurance
The current downward pressure in pricing of Commercial Insurance presents challenges for insurers to achieve their internal Return on Equity goals. Key to maximizing returns is to ensure accurate pricing at an individual account level which is achievable through accurate classification. This session will demonstrate how high quality data assists companies in meeting their ROE targets on a sustained basis. Topics include the impacts of misclassification in the following areas: exposure measures, ratemaking and modeling, workflows, reinsurance, regulation, and effective business processes.
We will present empirical evidence of the wide spread and significant degree of misclassification in the Commercial Insurance marketplace and demonstrate how this leads to Adverse Selection and/or Lost Market Share. A discussion of the solutions which have been successfully implemented and our views of emerging trends will ensue.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Scott Lefkowitz
Panelists:
Jonathan Charak, Kristen Dardia Turner, Peter de Freitas
Data & Technology Working Party Report
Data is the life blood of actuarial analysis. Today's technology is revolutionizing the amount of data available and the ways we can analyze it. Yet there is no material on the CAS syllabus on either data or the technology that supports it. For actuaries to participate in the Data Science revolution, they must become more data literate and tech savvy. The Data and Technology Working Party has researched what we think an actuary should know in four areas: 1. Data Science 2. Business Intelligence 3. Data Quality 4. Data Structures. This session will provide an overview of that material and make the case that actuaries need to understand it or risk being left in the new world of data and technology.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Scott Lefkowitz
Panelists:
Benoit Carrier, Peter Bothwell
The CAS Institute Has Launched!
Bob Miccolis and other leaders of The CAS Institute (iCAS) will provide an update on the status of iCAS, details about the first credential being offered by iCAS in the field of predictive analytics, and the formation of the first specialist practice community within iCAS with membership open to all practitioners in data science and predictive analytics. iCAS was designed as an innovative approach to blending the skills of actuaries and other quantitative specialists, starting with data scientists, in order to address the complex business challenges of both today and tomorrow.
Come learn about iCAS’ first credential in predictive analytics. Some of our Subject Matter Experts will explain the specific body of knowledge, technical skills, and methodologies required for the credential and how candidates pursuing the credential will be tested and the knowledge and skills they will need to demonstrate in order to earn of the credential of Certified Specialist in Predictive Analytics (CSPA).
Find out how to join iCAS as a member of our practice community. Whether you are a practitioner, manager or user of predictive analytics, data science or data management, help build this community of practitioners and specialists, discuss new methods and techniques, and explore the latest research ideas.
In this session the speakers will also touch upon the new Associate in Insurance Data Analytics (AIDA) designation program offered by The Institutes. Hear how the AIDA education program complements the CSPA. By providing insights derived from the data to better inform business decisions, the AIDA course of study builds the bridge between the work of the quantitative specialist in predictive analytics and data science and the business user.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Scott Lefkowitz
Panelists:
James Merz, Bob Miccolis, Amy Brener, Todd Lehmann, Peter Bothwell
Case Studies in Professionalism
In this session, we will present several scenarios in which one actuary feels that another actuary's work has failed to meet the standards of practice. The complainant will present what s/he thinks is lacking in the work, including citing the ASOPs s/he believes are relevant. The respondent will then present his/her perspective, including the ASOPs s/he believes are relevant and how s/he has met those standards. The audience will then discuss in small groups before an audience vote is taken. The moderator will then present his/her perspective on the relevant standards and whether they have been met.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Scott Lefkowitz
Panelists:
Justin Brenden, Michael McKnight, Stephen Meyer
Can You Hear Me Now? Multi-Generational Communication for Client-Centered Business Intelligence
How to effectively communicate and understand millennials vs. Generation Xers vs. baby-boomers ...
The multi-generational workplace and customer base is here and will not be going away anytime soon! Are you ready? Individuals vary not only in their communication styles, but also their learning styles, conflict resolution and problem-solving styles, motivations and much more. Although psychographics have always been insightful in helping guess prominent characteristics, because at the core, within each and every person exists an internal dialogue depending on where and when they were born and raised, Family of Origin and Generation are the two most reliable data points in understanding the internal dialogue which is the key to successful communication overall. In the world of the Customer Experience, and Business Intelligence, it is no longer enough to know your company’s product and brand; you have to know your customer’s frame of mind aka Internal Dialogue.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Panelists:
Farnaz Namin
Attack of the Drones
Unmanned Vehicle Aircrafts (UVA), also known as drones, are here and many more are coming. The Federal Aviation Administration has issued many regulations regarding operations of drones. As drones replace and supplement work performed by humans different liability risks will emerge. Insurance coverage has been evolving as well to cover both the drones itself as well as any associated liabilities. Discussions of the current marketplace, coverages, usage and rating for UVA will be discussed. This will be followed by Q&A from the audience.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Scott Lefkowitz
Panelists:
Michael Falcone, Carl Ashenbrenner, Igor Pogrebinsky
Capital Allocation Methods and Metrics
After an introduction to the role of capital allocation in corporate decision-making and to some key concepts and formulas, session participants will be given access to sample data and will be guided in capital allocation using several methods and metrics. The impact of tail correlation will be illustrated.
NOTE: This is an interactive session. Please be sure to go to the Program Guide of the Annual Meeting website in advance of the session to download the spreadsheet. In addition, please remember to bring your laptop or tablet to the session.
Source:
2016 Annual Meeting
Type:
Concurrent Session
Moderators:
Scott Lefkowitz
Panelists:
Ira Robbin, Dustin Loeffler
