2002 Discussion Paper Program
Topic: The Changing Insurance Marketplace
The Gramm-Leach-Bliley Financial Services Modernization Act of 1999 (GLB) will have far-reaching impact on the business of insurance, bringing with it new challenges to casualty actuaries. This development is only one of a number of drivers currently affecting the insurance marketplace. Other examples include commercial lines deregulation, E-commerce, globalization, enterprise risk products, insurance risk securitizations, merger and acquisitions, state and federal reinsurance/pool changes, and litigation trends.
Insurers will respond and adapt to the changing insurance marketplace. Part of this response will likely include adjustments and enhancements to traditional actuarial models for data collection, pricing, and reserving. The 2002 Discussion Paper Program will be a forum to exchange ideas on issues presented by the changing insurance marketplace. Of particular importance is the role of the actuary in effecting a successful response.
Some examples of topics for discussion might include:
- The impact of GLB privacy rules on pricing and underwriting
- Electronic signature - what does it mean to you?
- Direct customer sales through the Internet - affect on product design, underwriting and pricing
- Pricing and reserving issues associated with enterprise risk products
- Price-monitoring challenges under commercial lines deregulation
- Using the Internet to supplement actuarial databases
- Maintaining competitive advantage under financial services consolidation.
Accepted papers will be published in the Spring 2002 Discussion Paper Program Book and will be posted on the CAS Web Site. Authors will have the opportunity to present their papers at workshops scheduled during the CAS Spring Meeting in San Diego, California on May 19-22, 2002.
The CAS hopes that you can participate in the Discussion Paper Program, and thanks you for considering it. The results are expected to contribute to the written body of knowledge of the CAS and to the success of the 2002 Discussion Paper Program.
Very Truly Yours,
Abbe Sohne Bensimon
Vice President, Continuing Education