Beyond Primary Insurance: How Big Data is Affecting the Reinsurance Transaction Today
Big Data and the predictive analytics it enables have become ubiquitous in personal lines underwriting, and common in commercial lines as well. But where is Big Data directly impacting the reinsurance transaction? This session will answer that question with several real-world examples detailing the impact of Big Data in workers' compensation reinsurance.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Rob Walling
Panelists:
David Duden, Bret Shroyer
New Products and Markets in Insurance-Linked Securities
The insurance-linked securities (ILS) market continued its rapid growth and maturation over the past year. In this session, industry experts will review key trends such as growth in the use of indemnity triggers and the rise of alternative capital solutions in developing insurance markets.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Rob Walling
Panelists:
Michael Millette, Aaron Koch, Thomas Johansmeyer, Carlo Segni
Global Emerging Risks: How to Assess and Plan for Insurance Claims of the Future
Early recognition and assessment of potential loss exposures from emerging risks can help carriers anticipate and prepare for underwriting and claims pitfalls, disruptive financial consequences, negative customer reaction, and other downstream ramifications. Understanding the loss potential as well as growth opportunity of emerging risks is critical and successfully doing so will better position insurers to meet the needs of today's policyholders and the changing marketplace for years to come. In this session, we will explore the strategic context of global emerging risks and provide commentary and guidelines for ongoing risk monitoring and integration into enterprise planning by insurers. This session will also focus on potential exposures of several of the emerging issues of interest to the insurance industry including drones and the internet of things. Panelists will also discuss the latest results from the 2015 Emerging Issues Bracket.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Rob Walling
Panelists:
Gerry Finley, Ron Beiderman, Gabe Fox
Global Property Risk Pricing: What is a Good Submission in Actuariastan?
This session will discuss various issues related to pricing Property Risk contracts and explore "What makes a good reinsurance underwriting submission" in the generic country of Actuariastan. The discussion will include a status update from the newly formed Joint GIRO-CARe International Reinsurance Pricing Working Party. Panelists are drawn from the Working Party, which represents a global cross-section of actuaries, underwriters, and educators.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Michael Christian
Panelists:
John Buchanan, Enrico Biffis, Adam Shrubshall
Industry Casualty Reserve Risk - Or Lack Thereof
The P&C industry has reported reserve releases for the past nine years. These reductions in prior period reserves have continued beyond what many industry pundits had expected. So what drives reported reserve development for the P&C industry? And where is the industry now with regards to factors that drive reserve position? This session will discuss the historical relationship of Accident Year and Calendar Year results and subsequent reported reserve development. Also the panel will discuss current issues affecting industry reserves including loss trend and price changes.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Michael Christian
Panelists:
William Wilt, Raju Bohra, Dave Clark
A.M. Best's BCAR Model - The New Generation
The A.M. Best rating agency is developing a new generation of its Best's Capital Adequacy Model (BCAR). The new model is expected to be released in draft form later this year. Their stated goals are to incorporate more sophisticated modeling techniques and risk measures in their capital modeling. This will allow BCAR to more directly and consistently tie required capital to selected confidence levels for the various risks an insurance company faces. Given the importance of A.M. Best rating to companies in the insurance industry, this change may have a significant impact on individual company’s A.M. Best BCAR scores. This session will discuss where the agency is currently with its risk modeling, evaluation of potential risk metrics, and associated capital charges. Also we will discuss the potential implications this may have for different type of companies.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Michael Christian
Panelists:
Thomas Mount, Raju Bohra
Mortgage Insurance
Mortgage Insurance exposures are unique considering the consumer, product, economic and political risks associated with it. This session highlights the current state of the mortgage insurance market and some of the strategies being developed to insulate it from future volatility. After a short introductory presentation this session will consist of questions to the panel from the moderator and audience participants.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Michael Christian
Panelists:
Jim McNichols, John Gaines, Ken Bjurstrom, Michael Nelson
Chief Pricing Actuaries Panel - Discussion of Current Events and Methods
Rates have decreased the last several years, new capital providers are entering the market, interest rates are near all time lows in the last century, and many economies around the world are stagnant. What strategies and methods are being incorporated to deal with this hazardous environment? This session will be a question and answer format and the audience will be encouraged to ask questions.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Scott Lamb
Panelists:
Gary Blumsohn, Brian Brown, Rob Larson, Brett Shereck
Assessing and Re-Insuring Cyber Risks
In a world of variable technologies, data quality, and data structures, the threat of and potential losses from infiltration, attack, and compromise are of great concern. Our panel will provide a backdrop to the cyber security and reinsurance landscape, the current state of cyber risk underwriting and aggregation modeling, and the likely direction in which the market will evolve as cyber risk evolves and more data becomes available. The panel will provide great insight to a wide array of potential cyber threats to a firms’ third party liability, as well as first party business interruption and property damage. The panel will also provide insight on the rapid change that is happening in the world of cyber attacks and what companies must do to try to keep up with this rapid pace of change. We will also discuss what insurers and re-insurers need to adapt in this rapidly changing environment.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Scott Lamb
Panelists:
William Miller, Jason Crabtree, Jess Fung
While The Cat's Away The Mice Will Play
Will alternative capital bring about the end of the property catastrophe reinsurance market as we know it? Will catastrophe models provide a floor to property cat reinsurance market pricing? What will cat modeling look like in 2020 (or 20/20)? This panel will provide an update on the catastrophe market and cat models, along with thoughts on "own view of risk", model uncertainty, open source models, and "near term" views.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Scott Lamb
Panelists:
Chris Zumbrum, Timothy Aman, Krista Lienau, Angela A'Zary
Survey Says - Professionalism Edition
We surveyed a number of actuaries on professionalism questions; can you guess what they said? Come refresh your knowledge of actuarial professionalism in this interactive session! This trivia game will cover a number of topics, helping you determine what you know and what you might want to review. The game was a hit at Annual Meeting so we are bringing it back with new questions…you won’t want to miss it! Who said professionalism can’t be fun? This session may count as professional continuing education.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Scott Lamb
Panelists:
Peter Wildman, Michael Toothman, Kimberly Barnett, Steve Knight, Amy Green
Building Communication Skills Through Improvisation
Using fundamental exercises from the theater genre of improvisation, attendees will interact with this session's facilitator to examine business communications. The facilitator will guide attendees with suggestions to improve their communication and negotiation skills. In small groups, attendees will participate in improvisational exercises that emphasize the importance of listening in communication.
Attendees will:
• Learn to communicate and negotiate more effectively with colleagues and clients;
• Gain a better understanding of both the input and output of communication;
• Examine their confidence in communicating and negotiating; and
• Improve their communication and negotiation skills.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Scott Lamb
Panelists:
Bruce Fell, Bob Morand
Mergers & Acquisitions in the Property & Casualty Industry
There have been a wave of mergers in the p/c insurance sector in recent months as reinsurance companies try to cope with the influx of alternative capital and the related decline in premium rates. Companies are grappling with the lack of organic growth in the sector and the expectations that this will eventually drive down returns on equity. This session will discuss the issues driving these consolidations and how their ultimate success will be evaluated.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Scott Lamb
Panelists:
Timothy Aman, Meyer Shields, Alan Zimmermann
Climate Change
The long-term economic impacts of climate change are complex and uncertain. Nevertheless, reinsurers have significant incentives to understand the effects of climate change on insurance profitability, both now and in the future. This panel will discuss current research on climate change’s impacts (or non-impacts) on loss experience to date. In addition, it will expand the discussion of climate change research and adaptation to consider impacts on product development and underwriting, contemplating the new opportunities and challenges a changing climate may bring.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Panelists:
Vijay Manghnani
Making Connections in the Current Aviation Market
The aerospace industry, which comprises Airlines, Airports, Manufacturers, Commercial GA, Light GA, and the Space/Satellite industry, faces a panoply of growing threats and disruptive forces today. Recent events have also thrown aerospace underwriters into the spotlight. Risk and loss exposures are on the rise for underwriters writing across these aerospace sub-classes as this insurance class is prone, like most of the specialty classes to political, economic, cyber, credit and business interruption risks. The underlying volatility within this class now requires a more integrated approach to underwriting risk management which enables better knowledge of underlying risk and determines risk selection strategies which promote optimal capital utilization and portfolio return on equity. This session discusses the current environment for the aviation market by putting recent events into context and examining the complicated and interconnected risk profiles for this business.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Scott Lamb
Panelists:
Daniel Jaeger, Charles Withers, Suki Basi
Reinsurance CEO Panel Discussion
This General Session session will include a roundtable Q&A discussion with three reinsurance company senior executives.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Jennifer Balester
Panelists:
Bruce Fell, Carole Ferrero, John Berger, Ed Noonan
Alternative Capital: The New Face of Reinsurance?
The reinsurance industry faces a number of difficult questions due to the continued growth of insurance-linked securities, collateralized reinsurance, sidecars, and other forms of alternative capital. Are we in the middle of a soft market, or at the start of a "new normal" in pricing? What are potential implications for the traditional reinsurance business model?
In this session, speakers from several key participants in the alternative capital market will review the recent trajectory of "convergence" in the reinsurance markets and its impact on traditional reinsurers. In addition, the speakers will offer their perspectives on the possible impacts of alternative capital over the next several years, and the challenges and opportunities this might create for the actuarial profession.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Jennifer Balester
Panelists:
Lixin Zeng, John Seo, William Dubinsky
Florida Market Update
This session will cover a review of recent developments in the Florida market, including regulatory issues, citizens takeouts, and the FHCF.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Jennifer Balester
Panelists:
Raju Bohra, Kevin Stokes, Ken Vincent
The CAS Innovation Council Initiatives
There is no doubt that the pace of innovation is accelerating all around us. With significant input from a broad cross section of CAS members, the CAS Innovation Council has framed the development of a shareable point of view on CAS innovation, defining what core principles should guide CAS members in pursuing the work of innovation, and establishing an innovation process to help actuaries collaborate and innovate in their own careers. In addition to broadly describing the mission of the recently formed CAS Innovation Council, this session will share the CAS point of view on innovation and the key principles of action to help actuaries and their employers develop and deliver innovative ideas and solutions, as well as the evolving customized CAS innovation process.
Source:
2015 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Jennifer Balester
Panelists:
Kevin Bingham, Aaron Halpert
The CAS as the Gold Standard: Our Future Roadmap
Source:
2015 Regional Affiliates - SCCAC
Type:
affiliate
Panelists:
Robert Wolf
Finding the Right Retention
Source:
2015 Regional Affiliates - SCCAC
Type:
affiliate
Panelists:
Zoe Rico, Wendell Ferrell
What to Do When the IRS Comes Knocking: Tax Issues for P&C Actuaries
Source:
2015 Regional Affiliates - SCCAC
Type:
affiliate
Panelists:
Richard Riley
Being An Expert Witness in Ratemaking and Other Regulatory Matters, Including a Mock Trial
Source:
2015 Regional Affiliates - SCCAC
Type:
affiliate
Panelists:
Shawna Ackerman, Sheri L. Scott, Robert Barbarowicz
Look No Hands! The Roller Coaster Known as California Workers' Compensation
Source:
2015 Regional Affiliates - SCCAC
Type:
affiliate
Panelists:
Mark Priven
Demonstrating the Value of Text Data for Predictive Modeling
Source:
2015 Regional Affiliates - SCCAC
Type:
affiliate
Panelists:
Philip Borba