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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.
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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.
CS-28 - Pet Insurance Market Activity, Trends, and Key Issues
The pet insurance market in the United States has been growing fast for years and this market growth was accelerated in 2020 by the "pandemic puppy boom". But, the profitability of pet insurance carriers has been underwhelming recently due to high levels of veterinary services inflation, escalating loss cost trends and expanding care demands of pet owners. However, new capital has been rapidly entering the pet insurance market on the thesis that (1) the market can reach penetration levels seen in the more mature markets of Western Europe, and (2) with broader socialization of costs, profitability will not be so elusive for pet insurers. With only 1.5% of U.S. household pets insured, can insurers afford to cover dog visits to the acupuncturist, the therapist and the reiki healer? We will answer this question and many more in this paws-itively engaging session on one of the fast growing insurance markets today.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Kenneth Hsu
Panelists:
Morgan Butz, Brian Chiarella
Keywords:
Personal Lines, Pet Insurance
CS-27 - Pandemic Impacts, Insights, and Strategies for Facing the "New Normal"
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Francis Gribbon
Panelists:
Sandee Perfetto, Erin Davidson, Raul Retian
Keywords:
Emerging Risks
CS-26 - New Results in Granular Reserving
Two Incompatible Objectives with Individual Reserve Models: an Approach with Multivariate Adaptative Regression Spline Models (J.-P. Boucher) We first show, by simulations, that if the age of the claim is directly used as a covariate in a granular reserving model, the insurer cannot expect to have, at the same time, (1) a precise estimation of each individual case reserve and (2) a precise estimation of his actuarial liability. Based on that finding, we develop a new granular reserving model with Multivariate Adaptive Regression Spline (MARS) models that are well known to have an interesting bias-variance trade-off. By using several hinge functions that can even interact with other covariates, this new model proposes a flexible way to express the relationship between the age of the claim at closure and the amount of the claim. We show that the MARS granular reserving model generates an analytical form for the computation of each individual case reserve of the portfolio at all times, a
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Jean-Philippe Boucher
Panelists:
Jean-Philippe Boucher, Mathieu Pigeon, Helene Cossette
Keywords:
Reserving
CS-25 - Net Zero insurance and the role of the actuary
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Ronald Kozlowski
Panelists:
Graham Hall, Adam Kallin
Keywords:
Climate Change
CS-24 - MCMC, easy as ABC: Getting started with Bayesian analysis
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Brian Fannin
Panelists:
Brian Fannin
Keywords:
Predictive Modeling
CS-23 - Machine Learning powered pricing: from GLMs to GAMs
Generalized Linear Models (GLMs) have been dominating the insurance pricing ecosystem for many years and have become one of the most renowned methodologies, both from a business and regulatory perspective. Most recently, machine learning has been steadily increasing in influence, raising adepts and pushing companies to explore new methodologies. First, we will review GLMs and GAMs (Generalized Additive Models) methodologies, explaining and comparing each framework. Then, we will compare a Machine Learning approach to a classic Actuarial approach. We will share an application of machine learning with GAMs, showcasing the benefit of higher automation coupled with the inclusion of expertise and interpretability. During the session, we will set up an audience poll asking participants to share current levels of understanding and applications of the concepts discussed. At the end, we will share a handout with a summary of the statistical framework and a comparison of the methodologies.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Boriana Trifonova
Keywords:
Predictive Modeling
CS-22 - It’s Not All Social Inflation - Is General Inflation Back for Real? Worldwide Overview of How Actuaries Should Consider These Two Forms of inflation
How many actuaries remember when general inflation was real? Inflation hasn’t exceeded 4% since 1991. But as actuaries, we are familiar with social inflation and, prior to Covid, there were multiple indicators that social inflation was driving claim costs higher. There has been an increase in nuclear verdicts, increasingly negative societal views towards large institutions, the emergence of litigated claims as an asset class due to litigation financing, and increases in income and wealth inequality. All these factors may be driving jury awards and settlements higher. Now there are spikes in the cost of materials, cars, and labor in addition to social inflation. The changes in social and general inflation that are being seen will have different impacts by line of business. This session will address these topics and provide insights from the data as to where the impacts of social and general inflation are showing up in insurance claims. Additionally, a summary of Lloyd’s thematic work to date on inflation, and social inflation in particular, will be presented focusing on capital modelling.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Francis Gribbon
Panelists:
Timothy McCarthy, Elliot Burn, David Clark, Angela Redding
Keywords:
Emerging Risks
CS-21 - The state of Telematics pricing, with a look at Contextual Interaction Effects
For the past decade, telematics models for automobile insurance have grown more popular and sophisticated. However, nearly all models to date are built using purely main effects on the traditional telematics ABCD's (Acceleration, Braking, Cornering, Distraction & Speeding).In this presentation - we review the current state of telematics pricing and examine alternative methodologies for creating & modeling interaction effects of telematics variables. Instead of considering event occurrences independently, we extract contextual information within events and between events. We seek to learn whether incorporating contextual event information can lead to higher predictive accuracy of telematics risk models.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Dalesa Bady
Panelists:
Nicholas Hamwey, Kit Lee
Keywords:
Personal Lines
CS-20 - GitHub 101: A practical, hands-on tutorial
ATTENDEES SHOULD BRING A LAPTOP! In addition, attendees should have the following installed:
* git
* Python, R or script platform of their choice
* An IDE like Atom, or RStudio OR GitHub Desktop
Attendees will experience a hands-on tutorial covering what git is, and how to use it. How to work with GitHub for group collaboration in the (possibly private) cloud.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Brian Fannin
Panelists:
Brian Fannin
Keywords:
Predictive Modeling
CS-2 - Actuary: Required Team Member for New Product Risk Analysis
The proposed session is a panel discussion comprised of the moderator and three non-actuary insurance professionals who all have a great deal of experience in new insurance product development. Each has worked with actuaries in this area but too often the actuary is late coming to the table and only contributes negative feedback. on the new product. In the present insurance environment, more cross functional activity is required up front with risk profiles changing (technology, extreme weather events, cyber) changing dramatically and quickly. Our panel sees the need for actuaries on the new product development team to provide comprehensive and innovative risk analysis where there is little or no historical data. The panel will also discuss examples of where actuaries have been on the development team and the important contributions that they have made. The panel recognizes that there is no one better than an actuary to analyze emerging risk.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Kendra Letang
Panelists:
Kenneth Radigan, Teresa Chan, Alejandro Zarate Santovena, Nick Weltmann
Keywords:
New Insurance Product Development
CS-19 - GBMs: The Real Impact of a Rate Change
Prior to a rate change implementation, it is common for pricing actuaries, product managers and other insurance leaders to compare various rate scenarios and choose the one that best aligns with business objectives and regulatory considerations. However, to fully understand the impact of a rate change on a book of business, customer demand should be considered. This session will demonstrate how GBMs can be used to incorporate customer demand into a rate change decision-making framework.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Ben Carrier
Panelists:
Serhat Guven, Michael McPhail
Keywords:
Predictive Modeling
CS-18 - Enterprise Risk Management: The Case for Adaptability of your ERM Program.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Robert Wolf
Panelists:
David Ingram, Michael Thompson
Keywords:
Enterprise Risk Management
CS-17 - Enterprise Risk Management: The Case For "and/or" Against Investment in Stocks in a P&C Insurance Company
The total investable assets of the P&C insurance industry are made up mostly of fixed income investments meant in the interest of optimizing ALM strategies and cashflow management. The question is “Is this always an optimum risk/reward strategy? “
Integrating Investment Risk Strategy into the Company’s overall strategy should be one of the key components of integrating a company’s strategic plan with a Company’s overall Enterprise Risk Framework. This session is intended to discuss/argue the case that under various economic scenarios, the P&C industry may fare better in putting more of their investment portfolio in the equity markets.
Key considerations will include a discussion of managing and adapting risk appetite, risk tolerance, and risk profiles to be adaptable to various economic seasons in the interest of increasing shareholder value and capacity. A debate on the “Beta” of stocks will also be discussed.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Robert Wolf
Panelists:
Max Rudolph, Francis Chou
Keywords:
Enterprise Risk Management
CS-16 - Enterprise Risk Management: Considerations of Holding Company Structure, Group Capital, and Liquidity as it relates to Capital Adequacy
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Robert Wolf
Panelists:
Raju Bohra, Greg Dickerson
Keywords:
Enterprise Risk Management
CS-15 - Enabling the Exponential Actuary: Evolve From Jobs to Superjobs
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Kelly Cusick
Panelists:
Kelly Cusick, Taralyn Slusarski, Wesley Griffiths, Howard Kunst, CCRMP, John Richards
Keywords:
Emerging Issues
CS-14 - Effective Presentations to a Non-Technical Audience, Part 2
This is a two-part in-person workshop spread across two days (90-minute session each day). This workshop will explore specific ways for actuaries to effectively present to non-technical audiences and senior executives. The participants will have an opportunity to get hands-on experience demonstrating some of the techniques shared. A case-study will be provided to use for this presentation. Each participant will be assigned to a small breakout group. Each group member will be required to present the case study to their group and will receive feedback on their presentation. This is a very hands-on workshop, requiring 3-5 hours of work including pre-work as well as work between the two parts of the course.
Requires advance registration: https://www.surveymonkey.com/r/21AM-EffectivePresentations
Limited to 25
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Beth Fitzgerald
Panelists:
Beth Fitzgerald, Dave Core, Somil Jain
Keywords:
Business Skills
CS-13 - Effective Presentations to a Non-Technical Audience, Part 1
This is a two-part in-person workshop spread across two days (90-minute session each day). This workshop will explore specific ways for actuaries to effectively present to non-technical audiences and senior executives. The participants will have an opportunity to get hands-on experience demonstrating some of the techniques shared. A case-study will be provided to use for this presentation. Each participant will be assigned to a small breakout group. Each group member will be required to present the case study to their group and will receive feedback on their presentation. This is a very hands-on workshop, requiring 3-5 hours of work including pre-work as well as work between the two parts of the course.
Requires advance registration: https://www.surveymonkey.com/r/21AM-EffectivePresentations
Limited to 25
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Beth Fitzgerald
Panelists:
Beth Fitzgerald, Somil Jain, Dave Core
Keywords:
Business Skills
CS-12 - Doing More with Less in Commercial Lines Pricing and Underwriting
An imminent retirement boom in the industry has many (re)insurers redoubling their efforts to maximize the amount of time domain experts spend either transferring their knowledge on to future generations or applying that knowledge to drive profitable business decisions. This is especially true in areas such as commercial lines underwriting where experts have gained a very detailed understanding of risks through many years on the job. As analytical rigor has increased for commercial lines, the pricing and underwriting processes have also increased in complexity, often requiring underwriting staff to spend time on processes where their expertise is not required (e.g. data entry). The focus of this session is to facilitate a cross-functional panel discussion with actuaries and underwriters regarding how our two disciplines can work together to minimize the time spent on mechanical processes and maximize the time spent on risk analysis.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
James Kaufmann
Panelists:
James Kaufmann, Lon Chang, Peter Buccola, Rocklyn Altshuler
Keywords:
Commercial Lines
CS-11 - Developing Allies at All Levels - What Leaders and Individuals can do to Reap the Benefits
Allies fill roles that include everything from supporting, empowering, elevating, mentoring, coaching, and leading others. Allies bring benefits to those they support, and their own careers. By intentionally developing and supporting allies at all levels, leaders can create stronger and more effective teams. In order to achieve this, leaders must understand the different types of allies, how to recognize what is needed in each situation, and how to develop a culture that values all allies. Even outside of an official leadership role, you can step into an ally role once you see the various opportunities around you.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Mallika Bender
Panelists:
Aree Bly, Sandy Lowe
Keywords:
Business Skills, Diversity, Equity and Inclusion
CS-10 - Data Innovation & Management For The Insurance Ecosystem
Insurance actuaries not only provide mechanisms for accurately assessing risk, but also help design and price insurance policies accurately based on how likely it is that they will have to pay out claims. However, many insurers have data inconsistencies, inefficient data gathering and minimum data integrity. Without automation of this data, it can take weeks to get the information into the system which usually involve back and forth fixes. The process is prone to error leaving little or no automation for actuaries. Actuaries need data integrity and new tools to help with the extraction, manipulation, and cleansing of complex data to deliver information faster and more precisely to assess risks, correct statistical and bordereaux reporting and claims accuracy. Come and learn of the new innovation tools available for actuaries to assist with data management.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Wendy Aarons-Corman
Panelists:
Wendy Aarons-Corman, Barry Bablin, Philip Borba
Keywords:
Data Management and Information, Innovatioin in Data Management
CS-1 - Actuaries Transitioning into Tech and Insurtech
Are you curious about what it is like for actuaries to work in tech and insurtech companies? With the boom of data and continued growth of technological advancement, more and more actuaries are working for non-traditional employers in hope to solve the decade old insurance problems with new solutions. Join us as we hear from a diverse panelist of speakers on how you can break into the industry. We will discuss what life is like, what skills are needed, and how we can best position ourselves to transition seamlessly.
Source:
2021 Annual Meeting
Type:
Concurrent Session
Moderators:
Kenneth Hsu
Panelists:
Monica Shokrai, Chelsea Adler, Ruoshu Chen
Keywords:
Business Analytics
GS1: Hard Markets and New Capital: A New Normal?
Source:
2021 Seminar on Reinsurance
Type:
General Session
Moderators:
Stephanie Gould Rabin
Panelists:
Gregory Hendrick, Elizabeth Geary, Conan Ward
CS9: Experience Rating Methods Divided by an Ocean
Source:
2021 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Caitlyn Pace
Panelists:
Ana Mata, Marni Novack, Caitlyn Pace, Justin Ranney
CS8: Evaluating Risk Transfer without Using Ad-Hoc Rules
This session will review the current benchmarks and rules utilized in risk transfer transactions, and suggest a potential additional approach that is an objective, non-arbitrary method of assessing risk transfer and the fiscal propriety of reinsurance contracts.
Source:
2021 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
John Ferrara
Panelists:
Joseph Boor, Michelle Sun, William Miller
CS7: Equity Analysts' View of the Industry
This session will feature a discussion by equity analysts that cover the P&C industry. The industry continues to evolve in how its capital is financed and equity analysts provide an important view into recent trends across the industry. We will discuss recent developments such as COVID-19 and catastrophe losses, market conditions, inflation and interest rates, and new capital and entrants. We will also cover the recent growth in insurtech platforms and their valuations.
Source:
2021 Seminar on Reinsurance
Type:
Concurrent Session
Moderators:
Raju Bohra
Panelists:
Alan Zimmermann, Meyer Shields, Matthew Carletti
