Casualty Loss Reserve Seminar (CLRS) & Workshops
September 9-11, 2015
Omni Hotel at CNN Center
Workshop 1: Loss Reserving Bootcamp
This workshop will be limited to a maximum of 35 participants in order to optimize audience participation and learning experience.
What better way to jump start or refresh your loss reserving skills than in this one day loss reserving boot camp. It will enhance your basic and intermediate skills and prepare you for the more advanced loss reserving topics to be presented in the Casualty Loss Reserve Seminar. Participants will be part of a loss reserving team evaluating and estimating reserves from data organization to selecting the best estimate. Complete with hands on learning, groups will be divided into small teams of five to seven professionals who will work with experienced loss reserving professionals, using realistic loss and expense claims data to: build triangles, compute and select loss development factors, perform a variety of loss and loss adjustment expense reserving methods, compare the results of various methods and their strengths and weaknesses, review additional information and take that into consideration in the methods and estimates, make final reserve selections, compare and discuss differences among teams.
This workshop is appropriate for Actuaries as well as Non-Actuaries. A laptop with wifi capabilities will be required.
Workshop 2: Maximizing the Value of your Actuarial Report and Opinion
The audiences for your actuarial report and the accompanying opinion include management, the auditors, your regulator and possibly the courts. But how do you effectively communicate with them to give them the information they need in a message they can understand? This workshop will provide ideas as to how you can best interact with the audiences for your report and opinion. Management, auditors, regulators and the courts have different needs for information. Some only want the bottom-line numbers, others want to know how you derived the numbers, and some may want to know if you verified your work. The workshop facilitators will include a regulator, an actuary who conducts audits, an actuary who testifies in court, and an actuary who is a CEO. Learn how to write your reports so you can better defend your numbers to the regulator or to the courts if that should become necessary. This should also prepare you to better interact with the risk-focused company examinations now being conducted by insurance departments. Bring your questions and problems for an interactive workshop day.
Workshop 3: Introduction to Development Triangle GLM-based Stochastic Reserving
Participants are expected to bring a laptop.
This is an all-day workshop aimed at practitioners who are new to stochastic reserving, or who want to deepen their understanding of how GLMs and stochastic simulation are employed in this context. There will be a mixture of brief presentations and longer periods of hands-on exercises with triangle data using an Excel based stochastic reserving template. Topics covered include the connection between traditional loss development and triangle GLMs, interpreting a stochastic range of reserve outcomes, triangle GLMs that include the payment period dimension, trend models with grouped parameters, extrapolating future trends, unbiased reserve estimates, and stochastic simulation techniques: bootstrapping vs. asymptotic theory.