Casualty Actuarial Society

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Outstanding Achievement Awards and Winners Announced from the 2011 CLRS

10/27/2011 —

Reserve Risk Models: White, Grey and Black Swans

was determined to be the “Best Session” at the recent 2011 Casualty Loss Reserve Seminar (CLRS), held September 15-16 at the Aria Resort and Casino, Las Vegas, NV. Glenn Meyers of ISO Innovative Analytics and Jessica Leong of Guy Carpenter & Co., LLC , will receive a $150 American Express gift card for their efforts in producing a top-notch educational session at the seminar.

If you could not attend the CLRS, or if you attended the seminar and missed some sessions, there are a handful of sessions now available through the University of CAS. Access to sessions is free for attendees; non-attendees can purchase individual sessions for $25 per session or $149 for all of the CLRS sessions. Visit the University of CAS for more details.

Prize Paper Award
The 2011 winner of the Emerging Issues Prize, for the best paper from the Testing Loss Reserving Methods, Models and Data Using the Loss Simulation Model Call Paper Program, was also announced at the CLRS. In this call paper program, participants worked with the Loss Simulation Model to develop enhancements to the model, perform additional testing, and apply the model to test alternative loss reserving methods and models. The model and manual are available on the CAS Loss Simulation Model Working Party website. Papers needed to describe the issue to be addressed (e.g., which of several loss reserving methods or models works best in a given loss reserving situation), the author’s approach to using the Loss Simulation Model, and any model enhancements or testing performed on the model. The Emerging Issues Prize is awarded to the best call paper(s) to come out of a new, but not necessarily repeating, call paper program. This is not necessarily an annual prize and can be sponsored by a different committee each time.

This call for papers was intended to foster the use of the Loss Simulation Model and to generate publicly available improvements to the model. The 2011 winner is Kailan Shang of Manulife Financial, for his paper “Loss Simulation Model Testing and Enhancement.” The paper is available in the 2011 Summer CAS E-Forum. Shang received a prize of $5,000 and was awarded a plaque along with the prize money at the 2011 Casualty Loss Reserve Seminar.

Exhibitor Raffle Winner
Finally, the winner of the 2011 CLRS Exhibitor Raffle is Samuel Smith of Pinnacle Actuarial Resources, Inc. Mr. Smith visited each of the CLRS table-top exhibits, spoke with the exhibitors, had them initial his raffle form, and submitted the form by the conclusion of the seminar. Mr. Smith received a $250 American Express gift card as the winner of the raffle.

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