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Sunday, November 7
2:00pm Pacific Standard Time Attendee Lounge show more Description Looking for a quiet space, or perhaps a place to meet up with a fellow attendee? Head over to the CAS Attendee Lounge, which is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p). The lounge is in Temecula Ballroom 3-4, found on Level One of the North Tower. Time Sunday, Nov 7 2:00PM - 7:30PM Pacific Standard Time Location Temecula Ballroom 3-4 Open Meeting Room show more Description Attendees may use this room for ad hoc meetings during the conference. Time Sunday, Nov 7 2:00PM - 5:00PM Pacific Standard Time Location Solana Speaker Ready Room show more Description Annual Meeting Presenters - There is a room dedicated to all Annual Meeting moderators & panelists as a space for you to meet up and work on your presentation. The Speaker Ready Room is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p) in Temecula Ballroom 1-2, found on Level One of the North Tower. Time Sunday, Nov 7 2:00PM - 7:30PM Pacific Standard Time Location Temecula Ballroom 1-2
4:00pm Pacific Standard Time Registration show more Description We encourage you to pick up your registration materials early to avoid lines. Registration opens at 4:00 p.m. on Sunday and you must pick up your materials before the Welcome Reception which begins at 6:30 p.m. New Associates need to pick up their materials before the Recognition Reception begins at 5:00 p.m. Time Sunday, Nov 7 4:00PM - 7:30PM Pacific Standard Time Location Pacific Ballroom Foyer
4:30pm Pacific Standard Time Exhibits show more Description Join our Exhibitors in the Pacific Ballroom Foyer! Time Sunday, Nov 7 4:30PM - 6:30PM Pacific Standard Time Location Pacific Ballroom Foyer - Exhibits
5:00pm Pacific Standard Time New ACAS Photo Session show more Description New Associates will take group photos with the CAS President. Photos will be published in an upcoming issue of the Actuarial Review. Time Sunday, Nov 7 5:00PM - 6:30PM Pacific Standard Time Location Grand Ballroom Foyer Recognition Reception for New Associates and their Spouses/Guests show more Description Name badges are required at all events. Guests must have a ticket. Extra tickets can be purchased at the CAS Registration Desk in the Pacific Ballroom Foyer. Time Sunday, Nov 7 5:00PM - 6:30PM Pacific Standard Time Location Marriott Grand Ballroom Terrace
6:30pm Pacific Standard Time Welcome Reception show more Description Name badges are required at all events. Time Sunday, Nov 7 6:30PM - 7:30PM Pacific Standard Time Location Marina Terrace
Monday, November 8
7:00am Pacific Standard Time Attendee Lounge show more Description Looking for a quiet space, or perhaps a place to meet up with a fellow attendee? Head over to the CAS Attendee Lounge, which is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p). The lounge is in Temecula Ballroom 3-4, found on Level One of the North Tower. Time Monday, Nov 8 7:00AM - 7:30PM Pacific Standard Time Location Temecula Ballroom 3-4 Continental Breakfast show more Description Name badges are required at all events. Time Monday, Nov 8 7:00AM - 8:30AM Pacific Standard Time Location Marina Terrace Registration show more Description Name badges are required at all events. Time Monday, Nov 8 7:00AM - 5:30PM Pacific Standard Time Location Pacific Ballroom Foyer Speaker Ready Room show more Description Annual Meeting Presenters - There is a room dedicated to all Annual Meeting moderators & panelists as a space for you to meet up and work on your presentation. The Speaker Ready Room is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p) in Temecula Ballroom 1-2, found on Level One of the North Tower. Time Monday, Nov 8 7:00AM - 7:30PM Pacific Standard Time Location Temecula Ballroom 1-2
8:00am Pacific Standard Time Celebration of New Members show more Description All meeting attendees are invited and encouraged to attend this session — come celebrate the achievements of new CAS members! Time Monday, Nov 8 8:00AM - 8:45AM Pacific Standard Time Location Pacific Ballroom 18-22
8:45am Pacific Standard Time New Fellow Group Photo Session show more Description New Fellows will take group photos with the CAS President. Photos will be published in an upcoming issue of the Actuarial Review. Time Monday, Nov 8 8:45AM - 9:15AM Pacific Standard Time Location Pacific/Grand Ballroom Stairs Refreshment Break & Exhibits show more Description Name badges are required at all events. Time Monday, Nov 8 8:45AM - 9:15AM Pacific Standard Time Location Pacific Ballroom Foyer - Exhibits
9:15am Pacific Standard Time FS-1: Forging a Successful Path to Machine Learning Deployment Eric Siegel, Predictive Analytics World show more Description Eric Siegel, Ph.D. Author, Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie or Die Founder, Predictive Analytics World Time Monday, Nov 8 9:15AM - 10:15AM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Eric Siegel Predictive Analytics World
10:15am Pacific Standard Time Business Session w/Presidential Address show more Description Business Session w/Presidential Address Time Monday, Nov 8 10:15AM - 10:45AM Pacific Standard Time Location Pacific Ballroom 18-22
10:45am Pacific Standard Time Town Hall Jessica Leong, FCAS, Zurich North America; Victor Carter-Bey, Casualty Actuarial Society; Katherine Antonello, FCAS, Employers show more Description Join us for a Town Hall meeting with members of the CAS Board of Directors. The 60-minute session will cover a variety of topics including an update on the 2021-2023 CAS Strategic Plan, the evolving volunteer-staff framework, and changes to the CAS admissions program. The session is designed to be interactive and attendees are encouraged to ask questions and provide feedback during the Town Hall. We invite you to join the conversation and share your views with CAS leadership. If you have a specific issue you would like to see addressed, please send an email to Mike Boa at mboa@casact.org. Time Monday, Nov 8 10:45AM - 11:45AM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Jessica Leong, FCAS Zurich North America Victor Carter-Bey Casualty Actuarial Society Katherine Antonello, FCAS Employers
11:45am Pacific Standard Time Luncheon show more Description Name badges are required at all events. Time Monday, Nov 8 11:45AM - 12:45PM Pacific Standard Time Location Marina Terrace
12:45pm Pacific Standard Time GS-1: The Science Behind Our Models, the IPCC 6th Assessment Rade Musulin, ACAS, CCRMP, Rade Musulin; Alex Pui, Swiss Re; Linda Mearns, National Center for Atmospheric Research show more Description The Intergovernmental Panel on Climate Change (IPCC) is the United Nations body charged with providing policymakers with periodic scientific assessments on climate change. The IPCC is in the process of releasing its 6th Assessment, which will replace the 5th Assessment issued in 2015. IPCC Assessments are an authoritative scientific foundation upon which many things relevant to actuaries’ work in climate risk are built, including future forecasts of factors affecting extreme weather driving insurance losses. This session will cover the work of the IPCC, the information available to date from the 6th Assessment, how it differs from the prior one, and the International Actuarial Association’s plans to work with the IPCC to produce information relevant to the profession. Time Monday, Nov 8 12:45PM - 2:00PM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Rade Musulin, ACAS, CCRMP Rade Musulin Alex Pui Swiss Re Linda Mearns National Center for Atmospheric Research
2:00pm Pacific Standard Time Refreshment Break & Exhibits show more Description Name badges are required at all events. Time Monday, Nov 8 2:00PM - 2:30PM Pacific Standard Time Location Pacific Ballroom Foyer - Exhibits
2:30pm Pacific Standard Time CS-2: Actuary: Required Team Member for New Product Risk Analysis Kenneth Radigan, PRIMA; Teresa Chan, Columbia University; Alejandro Zarate Santovena; Nick Weltmann, FCAS show more Description 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. Time Monday, Nov 8 2:30PM - 3:45PM Pacific Standard Time Location Pacific Ballroom 16-17 Speakers Kenneth Radigan PRIMA Teresa Chan Columbia University Alejandro Zarate Santovena Nick Weltmann, FCAS CS-3: An Update on Wildfire Activity, Modeling and Regulation Howard Kunst, FCAS, CCRMP, CoreLogic; David Evans, FCAS, Milliman, Inc. show more Description Wildfires over recent years has generated significant interest across the US, primarily in Western states. Warmer temperatures, stronger winds and drought have resulted in record wildfire losses in recent years, and consumers, insurance companies and regulators are feeling the impact on many fronts. This session will provide a current summary of the current issues surrounding Wildfire risk, such as: 1. Recent years’ statistics around wildfire events/losses 2. Overview of Wildfire risk models 3. Ratemaking issues 4. Major legislation (CA) and how it impacts consumers, insurers 5. CA Wildfire fund and availability of insurance for Utilities and contractors 6. Climate change assessment and mitigation initiatives Time Monday, Nov 8 2:30PM - 3:45PM Pacific Standard Time Location Pacific Ballroom 15 Speakers Howard Kunst, FCAS, CCRMP CoreLogic David Evans, FCAS Milliman, Inc. CS-4: Building a Framework for Casualty Cat Modeling Eric Dynda, FCAS, Willis Re; Theodore Bowie, ACAS, Willis Re; Krish Kamdar, Willis Re show more Description Presenters will focus on the concepts and practical implementation of a Casualty Cat model. Presenters will discuss the necessity of a model for measuring downside risk in Casualty insurance along with the unique challenges of modeling Casualty Cat risk as compared to Property Cat. Willis Re’s “eNTAIL” model will be presented as an example of a conceptual framework for modeling Casualty Cat. Presenters will discuss how historical Casualty Cat data can be converted into actuarial parameters that feed into a full-scale simulation model. Two case studies will be presented, considering the portfolio of both a large casualty insurer and Willis Re’s US Industry portfolio. Discussion on efficient software implementation of Casualty Cat models will also be included. Time Monday, Nov 8 2:30PM - 3:45PM Pacific Standard Time Location Rancho Santa Fe Speakers Eric Dynda, FCAS Willis Re Theodore Bowie, ACAS Willis Re Krish Kamdar Willis Re CS-6: CAS Race and Insurance Pricing Research - Defining Discrimination and Quantifying Disparate Impact in Insurance Kudakwashe Chibanda, FCAS, CAS; Roosevelt Mosley, FCAS, CSPA, Pinnacle Actuarial Resources, Inc.; Mallika Bender, FCAS, Casualty Actuarial Society show more Description As the insurance industry focuses attention on potential racial bias across all practice areas, CAS actuaries are being called to understand, and asses the issues and develop solutions. This session will provide an overview of two new research briefs commissioned as part of the Casualty Actuarial Society's Approach to Race and Insurance Pricing - Defining Discrimination in Insurance and Methods for Quantifying Disparate Impact in Insurance. Kuda Chibanda will present key terminology being used in the industry debate on race and insurance, such as protected class, fair and unfair discrimination, proxy discrimination and disparate impact, and explain the implications of conflicting definitions of these terms. Next, Roosevelt Mosely will dive into the issue of disparate impact and compare several potential statistical methods that actuaries can apply to measure fairness in the context of insurance rating. Time Monday, Nov 8 2:30PM - 3:45PM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Kudakwashe Chibanda, FCAS CAS Roosevelt Mosley, FCAS, CSPA Pinnacle Actuarial Resources, Inc. Mallika Bender, FCAS Casualty Actuarial Society CS-10: Data Innovation & Management For The Insurance Ecosystem Wendy Aarons-Corman, OWIT Global; Barry Bablin, FCAS, American National Insurance Company; Philip Borba, CSPA, Milliman show more Description 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. Time Monday, Nov 8 2:30PM - 3:45PM Pacific Standard Time Location Torrey Pines Speakers Wendy Aarons-Corman OWIT Global Barry Bablin, FCAS American National Insurance Company Philip Borba, CSPA Milliman Open Meeting Room show more Description Attendees may use this room for ad hoc meetings during the conference. Time Monday, Nov 8 2:30PM - 5:30PM Pacific Standard Time Location Solana CS-27: Pandemic Impacts, Insights, and Strategies for Facing the "New Normal" Sandee Perfetto, ISO/Verisk; Erin Davidson, FCAS, Martin & Company; Raul Retian, FCAS, CPCU, ISO/Verisk show more Description The COVID-19 pandemic brought challenges to P&C insurance not seen since the Great Recession, making it difficult to predict the full behavioral and economic consequences. As we continue to adjust to the “new normal,” it’s important to acknowledge the challenges created by the crisis and develop future-facing strategies. This session will discuss observations from data and challenges being faced by many property/casualty insurers across both personal and commercial lines, and address some strategies and considerations related to the "new normal". Time Monday, Nov 8 2:30PM - 4:00PM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers Sandee Perfetto ISO/Verisk Erin Davidson, FCAS Martin & Company Raul Retian, FCAS, CPCU ISO/Verisk CS-30: Professionalism: A Deep Dive on the Code Ronald Kozlowski, FCAS, RTK Actuarial & Professional Services; Kenneth Hsu, FCAS, CSPA, Uber Technologies; Michael Speedling, ACAS, AXIS Capital; Esther Becker, ACAS, Oliver Wyman Actuarial Consulting show more Description TBD Time Monday, Nov 8 2:30PM - 4:00PM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Ronald Kozlowski, FCAS RTK Actuarial & Professional Services Kenneth Hsu, FCAS, CSPA Uber Technologies Michael Speedling, ACAS AXIS Capital Esther Becker, ACAS Oliver Wyman Actuarial Consulting
3:45pm Pacific Standard Time Refreshment Break & Exhibits show more Description Name badges are required at all events. Time Monday, Nov 8 3:45PM - 4:15PM Pacific Standard Time Location Pacific Ballroom Foyer - Exhibits
4:15pm Pacific Standard Time CS-13: Effective Presentations to a Non-Technical Audience, Part 1 Dave Core, Casualty Actuarial Society ; Beth Fitzgerald, FCAS, Retired; Somil Jain, FCAS show more Description 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 Time Monday, Nov 8 4:15PM - 5:45PM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers Dave Core Casualty Actuarial Society Beth Fitzgerald, FCAS Retired Somil Jain, FCAS CS-19: GBMs: The Real Impact of a Rate Change Michael McPhail, FCAS, Willis Towers Watson; Serhat Guven, FCAS, Willis Towers Watson show more Description 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. Time Monday, Nov 8 4:15PM - 5:30PM Pacific Standard Time Location Pacific Ballroom 15 Speakers Michael McPhail, FCAS Willis Towers Watson Serhat Guven, FCAS Willis Towers Watson CS-20: GitHub 101: A practical, hands-on tutorial Brian Fannin, ACAS, CSPA, Casualty Actuarial Society show more Description 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. Time Monday, Nov 8 4:15PM - 5:45PM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Brian Fannin, ACAS, CSPA Casualty Actuarial Society CS-25: Net Zero insurance and the role of the actuary Graham Hall, PwC; Adam Kallin, PwC show more Description This session will focus on the concept of greenhouse gas quantification and its relevance to insurers. This topic is of particular relevance to actuaries as many larger insurers are starting to contemplate the emissions they are responsible for, and how they can set targets and implement changes in their business to reduce these emissions in line with the Paris accord and/or other similar initiatives. Specifically the session will cover: - Overview of GHG emissions, including scope 1, 2 and 3 - What does it mean to be “Net zero” or “Carbon neutral” - Target setting and SBTi - Financed emissions and the implications for insurers - Net zero underwriting Time Monday, Nov 8 4:15PM - 5:30PM Pacific Standard Time Location Rancho Santa Fe Speakers Graham Hall PwC Adam Kallin PwC CS-28: Pet Insurance Market Activity, Trends, and Key Issues Morgan Butz, ACAS, EY; Brian Chiarella, FCAS, EY show more Description 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. Time Monday, Nov 8 4:15PM - 5:30PM Pacific Standard Time Location Torrey Pines Speakers Morgan Butz, ACAS EY Brian Chiarella, FCAS EY CS-31: Proposed Changes to the US Qualification Standards Esther Becker, ACAS, Oliver Wyman Actuarial Consulting; Kendall Williams, FCAS, Casualty Actuarial Society show more Description Description: The American Academy of Actuaries’ Committee on Qualifications (COQ )has made suggested changes to the US Qualification Standards that all U.S based actuaries are required to follow. This session will discuss the proposed changes to the standards including where they are in the approval process. In addition, we will review what the qualification standards mean for CAS members practicing in the U.S. and what you need to do to ensure you are meeting these standards. This session will also cover the CAS Continuing Education certification requirements. Time Monday, Nov 8 4:15PM - 5:30PM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Esther Becker, ACAS Oliver Wyman Actuarial Consulting Kendall Williams, FCAS Casualty Actuarial Society CS-39: Travelers Actuarial Reserving Cooking Show Wesley Griffiths, FCAS, Travelers Insurance; Rachel Warner, Travelers; Darian Garner, Travelers; Colin Heydorn, FCAS, Travelers; Deborah Mergens, Travelers; Chad Wilson, FCAS, Travelers; Nicholas LaPenta, FCAS, Travelers; Marci Freida, Travelers Indemnity Company show more Description Tune in to Episode 2 of the Travelers Cooking Show. The Travelers Actuarial Reserving Cooking Show follows after the popularity of the inaugural Predictive Modeling Cooking Show. It is a window into the kitchen of master “chefs” as they work, except the chefs are whipping up something different: actuarial reserves! Watch real actuaries partner with claim professionals to showcase their skills as they compete to see who can set the tastiest reserves. You'll see basic reserving techniques, the simple steps Actuaries use to predict future claim development, and develop an understanding of the important interactions with business partners. You can also learn more about current events such as social inflation. Target audience includes those with no reserving experience along with experienced reserving actuaries who may learn new ways to interact with business partners and explain reserving concepts. Time Monday, Nov 8 4:15PM - 5:30PM Pacific Standard Time Location Pacific Ballroom 16-17 Speakers Wesley Griffiths, FCAS Travelers Insurance Rachel Warner Travelers Darian Garner Travelers Colin Heydorn, FCAS Travelers Deborah Mergens Travelers Chad Wilson, FCAS Travelers Nicholas LaPenta, FCAS Travelers Marci Freida Travelers Indemnity Company
6:15pm Pacific Standard Time Officers’ Reception for New Fellows and their Spouses/Guests show more Description Name badges are required at all events. Guests must have a ticket. Extra tickets can be purchased at the CAS Registration Desk in the Pacific Ballroom Foyer. Time Monday, Nov 8 6:15PM - 7:15PM Pacific Standard Time Location Marina Terrace
Tuesday, November 9
7:00am Pacific Standard Time SS-1a: (Advanced Reg Required) Beyond Technical Abilities: Leveraging Soft Skills to Make an Impact, Part 1 JoJo Harris, The Jacobson Group show more Description Whether you’re assembling, leading or participating in a short-term project team, success will be dependent on more than technical abilities. Often, it can be easy to focus solely on the task at hand; however, it’s important to take a people-focused approach. Soft skills such as agility, empathy, critical thinking and creativity are key for strong teams that can effectively meet goals and gain stakeholder buy-in. By leveraging individuals’ different perspectives and skills in an effective way, teams will reach more innovative solutions, resulting in better outcomes. In this two-day workshop, attendees will learn to think like an executive and consider a project’s broader impact. Through a variety of hands-on activities, attendees will uncover how to set their teams up for success and leverage soft skills to elevate their performance. This insight will be put into practice through group exercises and guided discussions. Attendees will walk away with an understanding of what makes a successful project team, how to leverage the unique perspectives of diverse teammates and best practices for being an effective leader and contributor. To register: https://www.surveymonkey.com/r/21AM-SnapSession1 Time Tuesday, Nov 9 7:00AM - 7:50AM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers JoJo Harris The Jacobson Group SS-2: (Advanced Reg Required) Think Like an Insurance Executive Ron Tsang; Katherine Antonello, FCAS, Employers show more Description What lies beyond traditional actuarial roles and how might you get there? Discover how to think like an insurance executive and become even more highly sought after in your career. Featuring a CEO Fireside Chat with Kathy Antonello, FCAS, FSA, MAAA. To register: https://www.surveymonkey.com/r/21AM-SnapSession2 Time Tuesday, Nov 9 7:00AM - 7:50AM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Ron Tsang Katherine Antonello, FCAS Employers Attendee Lounge show more Description Looking for a quiet space, or perhaps a place to meet up with a fellow attendee? Head over to the CAS Attendee Lounge, which is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p). The lounge is in Temecula Ballroom 3-4, found on Level One of the North Tower. Time Tuesday, Nov 9 7:00AM - 6:00PM Pacific Standard Time Location Temecula Ballroom 3-4 Continental Breakfast show more Description Name badges are required at all events. Time Tuesday, Nov 9 7:00AM - 8:30AM Pacific Standard Time Location Marina Terrace Registration show more Description Name badges are required at all events. Time Tuesday, Nov 9 7:00AM - 1:00PM Pacific Standard Time Location Pacific Ballroom Foyer Speaker Ready Room show more Description Annual Meeting Presenters - There is a room dedicated to all Annual Meeting moderators & panelists as a space for you to meet up and work on your presentation. The Speaker Ready Room is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p) in Temecula Ballroom 1-2, found on Level One of the North Tower. Time Tuesday, Nov 9 7:00AM - 6:00PM Pacific Standard Time Location Temecula Ballroom 1-2
8:00am Pacific Standard Time GS-2: Ransomware and Other Cyber Headlines Jonathan Laux, FCAS, Aon Reinsurance Solutions; Monica Shokrai, FCAS, Google / Alphabet; Emma Ye, At Bay show more Description Has the time come to double down on the cyber insurance market, or is it time to get out? How are actuaries adjusting to recent trends, and what have we learned? In this session, we will explore cyber insurance topics such as the state of market, rate and capacity, claims trends, industry responses, cybersecurity products, and recent catastrophe events. We will also have a discussion on recent analytic advancement on this insurance risk. Join us as we hear from industry practitioners and their reflections on the newest risk mitigation strategies based on the latest headlines. Time Tuesday, Nov 9 8:00AM - 9:15AM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Jonathan Laux, FCAS Aon Reinsurance Solutions Monica Shokrai, FCAS Google / Alphabet Emma Ye At Bay GS-3: Surplus Lines Results and Market Trends Benoit Carrier, FCAS, Aon; Mark Smith, K2 Insurance Services show more Description The excess and surplus (E&S) lines market in the United States is booming: its growth has exceeded the admitted lines market growth for the last several years. There are many reasons for it: less regulatory constraints, quicker access to market opportunities, less competition in specialty lines, to name a few. This E&S market is also subject, to varying degrees, to the same factors affecting the admitted market: social inflation, more frequent catastrophes, covid, … The first speaker will provide E&S and admitted market statistics (premium, loss ratio, and other indicators by market segment) over the last several years and insight on what drove their different results. The second speaker will discuss E&S market trends while highlighting differences with the admitted market. He will also mention where actuaries can add value in this growing E&S market. Time Tuesday, Nov 9 8:00AM - 9:15AM Pacific Standard Time Location San Diego Ballroom Speakers Benoit Carrier, FCAS Aon Mark Smith K2 Insurance Services
8:30am Pacific Standard Time Student Program show more Description Student Program Time Tuesday, Nov 9 8:30AM - 2:30PM Pacific Standard Time Location Presidio
9:15am Pacific Standard Time Transition Break & Exhibits show more Description Join our Exhibitors in the Pacific Ballroom Foyer! Time Tuesday, Nov 9 9:15AM - 9:35AM Pacific Standard Time
9:45am Pacific Standard Time CS-12: Doing More with Less in Commercial Lines Pricing and Underwriting James Kaufmann, Willis Towers Watson; Lon Chang, FCAS, Ascot Group; Peter Buccola, Coterie Insurance; Rocklyn Altshuler, FCAS, Munich Re Specialty Insurance show more Description 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. Time Tuesday, Nov 9 9:45AM - 11:00AM Pacific Standard Time Location Pacific Ballroom 15 Speakers James Kaufmann Willis Towers Watson Lon Chang, FCAS Ascot Group Peter Buccola Coterie Insurance Rocklyn Altshuler, FCAS Munich Re Specialty Insurance CS-14: Effective Presentations to a Non-Technical Audience, Part 2 Dave Core, Casualty Actuarial Society ; Beth Fitzgerald, FCAS, Retired; Somil Jain, FCAS show more Description 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 Time Tuesday, Nov 9 9:45AM - 11:15AM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers Dave Core Casualty Actuarial Society Beth Fitzgerald, FCAS Retired Somil Jain, FCAS CS-17: Enterprise Risk Management: The Case For “and/or” Against Investment in Stocks in a P&C Insurance Company Max Rudolph , Rudolph Financial Consulting; Francis Chou show more Description 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. Time Tuesday, Nov 9 9:45AM - 11:00AM Pacific Standard Time Location San Diego Ballroom Speakers Max Rudolph Rudolph Financial Consulting Francis Chou Open Meeting Room show more Description Attendees may use this room for ad hoc meetings during the conference. Time Tuesday, Nov 9 9:45AM - 11:00AM Pacific Standard Time Location Solana CS-32: Smarter Segmentation for the Lazy Actuary Michael McPhail, FCAS, Willis Towers Watson; Serhat Guven, FCAS, Willis Towers Watson show more Description Segmentation in reserving is often informed and limited by time pressures, resource constraints, and “classic” definitions of segmentation. By using advanced modeling techniques, actuaries can identify different cohorts of claims – those most likely to develop poorly – and reserve for them separately. This session will look at how machine learning approaches can allow a reserving team to improve their reserve estimates, not by segmenting more, but by segmenting smarter. Time Tuesday, Nov 9 9:45AM - 11:00AM Pacific Standard Time Location Pacific Ballroom 16-17 Speakers Michael McPhail, FCAS Willis Towers Watson Serhat Guven, FCAS Willis Towers Watson CS-33: Social Media: A New Frontier for The Modern Actuary Dominic Lee, ACAS, SAS show more Description Analytics is becoming ever more intrinsic to actuarial science. It has expanded the scope of actuarial work, creating opportunities to solve problems in emerging fields. Social media platforms have transformed how customers and brands connect and engage while generating a high volume, variety, and velocity of data. Actuaries have an opportunity to help industries uncover the value in that data and make smarter decisions. The presentation will provide a framework for actuaries to evolve, align, and capture the value in social media data. Time Tuesday, Nov 9 9:45AM - 11:00AM Pacific Standard Time Location Torrey Pines Speakers Dominic Lee, ACAS SAS CS-35: Text analysis for beginners: A practical, hands-on tutorial Liam McGrath, ACAS, Willis Towers Watson show more Description ATTENDEES SHOULD BRING A LAPTOP! In addition, attendees should have R installed along with the tidytext package. RStudio or similar IDE is recommended, but not strictly necessary. Attendees will experience a hands-on tutorial which walks through the basics of text analysis. We will cover data structures to handle text and how to mutate from one data format to another. We will give examples of some simple text summaries, with an emphasis on foundational skills to enable independent exploration after the conference. Time Tuesday, Nov 9 9:45AM - 11:15AM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Liam McGrath, ACAS Willis Towers Watson CS-38: The Start Up Nation: Innovation and Actuarial Opportunities in Israel Itai Green, Innovate Israel; Ofer Brandt, Israel Capital Market Insurance and Savings Authority show more Description The pace of innovation in Israel has inspired its nickname as "The Start Up Nation." What are the implications for actuaries? This presentation will be divided into two parts. (1) An overview of the actuarial profession in Israel, its activities, and the growing roles actuaries have in the insurance and pensions industries. (2) A review of the innovation ecosystem in Israel in general and Insurtech in particular; its impact on insurance companies, including steps taken by the regulator to promote technological innovation; and how actuaries may become involved in this expanding activity. Note: The CAS and the Israel Actuarial Association (ILAA) have recently signed a memorandum of Understanding to jointly partner on various professional matters as part of both societies' international initiative to promote actuarial collaborative interaction, cooperation and exchange. Time Tuesday, Nov 9 9:45AM - 11:00AM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Itai Green Innovate Israel Ofer Brandt Israel Capital Market Insurance and Savings Authority
11:00am Pacific Standard Time Refreshment Break & Exhibits show more Description Name badges are required at all events. Time Tuesday, Nov 9 11:00AM - 11:30AM Pacific Standard Time Location Pacific Ballroom Foyer - Exhibits
11:30am Pacific Standard Time CS-5: Calling All Actuaries: The Need for Risk Experts to Shape Climate Action Carolyn Kousky, Wharton Risk Center; Nancy Watkins, FCAS, Milliman; Serena Sowers, Swiss Re show more Description Climate change is creating complex risks that compound over time and will ultimately impact every sector of society. In order to plan effectively for the future, governments, communities and businesses will need better models and metrics in order to view critical decisions through a climate-informed lens. As experts in risk, actuaries and insurers have a unique role to play in measuring the cascading effects of climate change, communicating climate risks and helping to drive better decisions. This session will explore the role of actuaries and the insurance industry in addressing climate risk – where we are, where we need to be and how we might be able to evolve and rise to the challenge. Time Tuesday, Nov 9 11:30AM - 12:45PM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Carolyn Kousky Wharton Risk Center Nancy Watkins, FCAS Milliman Serena Sowers Swiss Re CS-11: Developing Allies at All Levels - What Leaders and Individuals can do to Reap the Benefits Aree Bly, Alignment Ally, LLC; Sandy Lowe, FCAS, Allstate Insurance Company show more Description 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. Time Tuesday, Nov 9 11:30AM - 1:00PM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers Aree Bly Alignment Ally, LLC Sandy Lowe, FCAS Allstate Insurance Company CS-23: Machine Learning powered pricing: from GLMs to GAMs Gaétan Veilleux, FCAS, Pinnacle Actuarial Resources, Inc.; Guillaume Beraud-Sudreau, Akur8 show more Description 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. Time Tuesday, Nov 9 11:30AM - 12:45PM Pacific Standard Time Location San Diego Ballroom Speakers Gaétan Veilleux, FCAS Pinnacle Actuarial Resources, Inc. Guillaume Beraud-Sudreau Akur8 CS-24: MCMC, easy as ABC: Getting started with Bayesian analysis Brian Fannin, ACAS, CSPA, Casualty Actuarial Society show more Description No article about the explosion of Bayesian analysis is complete without mentioning that this boom is the result of increased computing power. But what is all that extra computation actually doing? This session will clarify what’s happening within a Markov chain Monte Carlo (MCMC) algorithm. Along the way, they’ll learn to understand the difference between “pen and paper” and “keyboard and click” algorithms, and to open themselves to the latter. Time Tuesday, Nov 9 11:30AM - 12:45PM Pacific Standard Time Location Pacific Ballroom 16-17 Speakers Brian Fannin, ACAS, CSPA Casualty Actuarial Society CS-29: Pricing without a Safety Net Ann Conway, FCAS, Willis Towers Watson; Maureen Stazinski, FCAS, Willis Towers Watson show more Description The challenging market conditions over the last few years and the ongoing emergence of new risks and evolution of historical risks are leading actuaries into uncharted territories. As actuaries, we're used to swimming with our life jackets of data. In the current environment, we're often being asked to price risks where there's little or no historical experience. In this session, we will discuss approaches that can be taken and factors which should be considered in addressing these pricing challenges. Time Tuesday, Nov 9 11:30AM - 12:45PM Pacific Standard Time Location Torrey Pines Speakers Ann Conway, FCAS Willis Towers Watson Maureen Stazinski, FCAS Willis Towers Watson CS-21: The state of Telematics pricing, with a look at Contextual Interaction Effects Nicholas Hamwey, FCAS, Cambridge Mobile Telematics; Kit Lee, Cambridge Mobile Telematics show more Description 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. Time Tuesday, Nov 9 11:30AM - 12:45PM Pacific Standard Time Location Pacific Ballroom 15 Speakers Nicholas Hamwey, FCAS Cambridge Mobile Telematics Kit Lee Cambridge Mobile Telematics CS-42: Year-end Appointed Actuary Report – Reasonable Ranges and Risk of Material Adverse Deviation : An Interactive Session of Case Studies of Hard Circumstances Robert F. Wolf, FCAS, Stonetrust Commercial Insurance Group/ Wintaii Holdings; Mary Frances Miller, FCAS, Select Actuarial Services; Kathleen Odomirok, FCAS, EY show more Description Appointed Actuaries have many responsibilities which are outlined in various guidelines. In this session we’ll wrestle with some of the unique challenges and potential issues you may encounter as an Appointed Actuary when needing to provide reasonable ranges and opining on the risk of material adverse deviation. Come join us in an interactive session where 4-5 hard and relevant case studies will be discussed in an interactive environment. Time Tuesday, Nov 9 11:30AM - 1:00PM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Robert F. Wolf, FCAS Stonetrust Commercial Insurance Group/ Wintaii Holdings Mary Frances Miller, FCAS Select Actuarial Services Kathleen Odomirok, FCAS EY
12:45pm Pacific Standard Time Lunch on Your Own show more Description Enjoy this free lunch period on your own. Time Tuesday, Nov 9 12:45PM - 3:00PM Pacific Standard Time
3:00pm Pacific Standard Time RT-2: Challenges of Pricing Cyber Insurance Eric Murphy, ACAS, At-Bay show more Description Digital risk is complex and pervasive. Join us in a discussion on pricing cyber risk and the actuarial challenges we face such as: * How does pricing cyber differ from other lines? What constitutes an uninsurable risk and does Cyber qualify? * What role does regulatory risk play in pricing when you're insuring against the actions of criminals? Time Tuesday, Nov 9 3:00PM - 4:00PM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Eric Murphy, ACAS At-Bay RT-6: Discrimination in Insurance - Where do we go from here? Kudakwashe Chibanda, FCAS, CAS show more Description Join us to continue the discussion from Monday's Race and Insurance Pricing research session. How should the insurance industry move forward in defining "Unfair Discrimination" and "Disparate Impact" with respect to to insurance pricing, and can actuaries help lay the path forward to measuring and quantifying discriminatory effects? Time Tuesday, Nov 9 3:00PM - 4:00PM Pacific Standard Time Location Torrey Pines Speakers Kudakwashe Chibanda, FCAS CAS RT-5: ERM Roundtable David Ingram show more Description Has Risk Management gained in influence at your company during pandemic? What risks has your company added or subtracted from the risk register? Has your company made any material changes to risk appetite and tolerance? What will be the most important issues for Risk Management in 2022? Is your company planning to be growing risk faster than surplus in the near future or let surplus grow faster than risk? Time Tuesday, Nov 9 3:00PM - 4:00PM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers David Ingram RT-1: Professionalism Code of Conduct Case Studies Kendall Williams, FCAS, Casualty Actuarial Society show more Description In this interactive session, we will discuss the CAS Code of Conduct and apply it to several different business scenarios. Discussion will include which parts of the Code of Conduct would apply to the situations, and what steps to take if you feel you or another CAS member is having trouble interpreting the Code of Conduct. This session is intended to compliment and continue the discussion of topics covered in CS-30 – A Deep Dive on the Code. However, knowledge from that sessions is not required. Time Tuesday, Nov 9 3:00PM - 4:00PM Pacific Standard Time Location Pacific Ballroom 16-17 Speakers Kendall Williams, FCAS Casualty Actuarial Society RT-3: Roundtable with an InsurTech Actuary Chelsea Adler, FCAS, Root Insurance Company show more Description Are you interested in working in InsurTech? What are some skillets that are required to break into this niche industry? Join us at this roundtable to explore what actuaries do in the tech world and how you can best become the next-generation actuary! Time Tuesday, Nov 9 3:00PM - 4:00PM Pacific Standard Time Location Pacific Ballroom 15 Speakers Chelsea Adler, FCAS Root Insurance Company RT-4: Why do so many actuaries still rely so much on spreadsheets? Brian Fannin, ACAS, CSPA, Casualty Actuarial Society show more Description Actuaries are the risk engineers of the insurance field, yet they continue to rely on technology which has a demonstrably high level of operational risk: the spreadsheet. In addition, spreadsheets tend to have a predictive modeling feature set that is more limited than other tools, some of which - like R and Python - are available for free. This provocative session will try to clear the air, scope the problem (insofar as it exists) and look for solutions. Get ready to clast some icons! Time Tuesday, Nov 9 3:00PM - 4:00PM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers Brian Fannin, ACAS, CSPA Casualty Actuarial Society
6:30pm Pacific Standard Time Tuesday Buffet Dinner at San Diego Zoo show more Description Please purchase extra tickets at the CAS Registration Desk in the Pacific Ballroom Foyer by 10:00 AM on Tuesday, Nov 9. Buses are provided for Annual Meeting registrants and guests and loading is outside the Pacific Ballroom beginning at 6:00 p.m. Buses will run in a continuous loop between the Marriott and the Zoo until the conclusion of the event at 9:30 p.m. The San Diego Zoo is a 100-acre wildlife park that is home to over 12,000 rare and endangered animals representing more than 650 species and subspecies. Located just north of downtown San Diego in Balboa Park, the Zoo is also an accredited botanical garden, caring for more than 700,000 individual plants. CAS Annual Meeting attendees with gather among a festive ambience at Sydney’s Grill in the Australian Outback, where dinner will be served a few steps from giraffes, rhinos, and more. Guests are also invited to explore “Urban Jungle”, home to the largest colony of koalas outside of Australia, and Wildlife Care Specialists will be on hand to answer any questions about the zoo or it’s animal residents. Buses will be provided for CAS Annual Meeting attendees between the Marriott Marquis San Diego Marina and the San Diego Zoo. Time Tuesday, Nov 9 6:30PM - 9:30PM Pacific Standard Time Location Outside Pacific Ballroom (Level 1)
Wednesday, November 10
7:00am Pacific Standard Time SS-1b: (Advanced Reg Required) Beyond Technical Abilities: Leveraging Soft Skills to Make an Impact, Part 2 JoJo Harris, The Jacobson Group show more Description Whether you’re assembling, leading or participating in a short-term project team, success will be dependent on more than technical abilities. Often, it can be easy to focus solely on the task at hand; however, it’s important to take a people-focused approach. Soft skills such as agility, empathy, critical thinking and creativity are key for strong teams that can effectively meet goals and gain stakeholder buy-in. By leveraging individuals’ different perspectives and skills in an effective way, teams will reach more innovative solutions, resulting in better outcomes. In this two-day workshop, attendees will learn to think like an executive and consider a project’s broader impact. Through a variety of hands-on activities, attendees will uncover how to set their teams up for success and leverage soft skills to elevate their performance. This insight will be put into practice through group exercises and guided discussions. Attendees will walk away with an understanding of what makes a successful project team, how to leverage the unique perspectives of diverse teammates and best practices for being an effective leader and contributor. To register: https://www.surveymonkey.com/r/21AM-SnapSession1 Time Wednesday, Nov 10 7:00AM - 7:50AM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers JoJo Harris The Jacobson Group Attendee Lounge show more Description Looking for a quiet space, or perhaps a place to meet up with a fellow attendee? Head over to the CAS Attendee Lounge, which is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p). The lounge is in Temecula Ballroom 3-4, found on Level One of the North Tower. Time Wednesday, Nov 10 7:00AM - 1:00PM Pacific Standard Time Location Temecula Ballroom 3-4 Continental Breakfast show more Description Name badges are required at all events. Time Wednesday, Nov 10 7:00AM - 8:30AM Pacific Standard Time Location Marina Terrace Registration show more Description Name badges are required at all events. Time Wednesday, Nov 10 7:00AM - 1:00PM Pacific Standard Time Location Pacific Ballroom Foyer Speaker Ready Room show more Description Annual Meeting Presenters - There is a room dedicated to all Annual Meeting moderators & panelists as a space for you to meet up and work on your presentation. The Speaker Ready Room is open Sunday (2-7:30p), Monday (7a-7:30p), and Tuesday (7a-4p) in Temecula Ballroom 1-2, found on Level One of the North Tower. Time Wednesday, Nov 10 7:00AM - 1:00PM Pacific Standard Time Location Temecula Ballroom 1-2
8:00am Pacific Standard Time CS-1: Actuaries Transitioning into Tech and Insurtech Monica Shokrai, FCAS, Google / Alphabet; Chelsea Adler, FCAS, Root Insurance Company; Ruoshu Chen, FCAS, Waymo show more Description 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. Time Wednesday, Nov 10 8:00AM - 9:15AM Pacific Standard Time Location Pacific Ballroom 15 Speakers Monica Shokrai, FCAS Google / Alphabet Chelsea Adler, FCAS Root Insurance Company Ruoshu Chen, FCAS Waymo CS-9: COVID: Lies, Damned Lies and Statistics David Ingram; Guy Avagliano, FCAS, Milliman show more Description The COVID-19 pandemic has produced a wealth of statistics, modeling, and data. Social media has amplified this information and discouraged people from finding common ground. The first presentation will show the “excess” U.S. deaths in 2020 from 2019. This session will show how extraordinary these figures are, how they vary by state, how they compare to other countries and of course, the impact of COVID-19. Reported deaths for the first half of 2021 are examined and forecast to year-end using traditional casualty actuarial methods. The next presentation will highlight the findings of the “COVID Mitigation Monitoring Project”. This project surveyed people to identify the degree to which people are actually practicing mitigation strategies and the impacts of these. This will be followed by a highly interactive session which will allow audience participation by discussing the following: 1. Relative Risk 2. COVID-19 modeling 3. Vaccination rates, efficiency, and hesitancy 4. What could have we done differently? Time Wednesday, Nov 10 8:00AM - 9:30AM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers David Ingram Guy Avagliano, FCAS Milliman CS-16: Enterprise Risk Management: Considerations of Holding Company Structure, Group Capital, and Liquidity as it relates to Capital Adequacy Raju Bohra, FCAS, Willis Towers Watson; Greg Dickerson, A.M. Best show more Description While assessing a P&C insurance company’s capital adequacy, have you ever struggled with or confused with understanding affiliate relationships, holding company, and intercompany structures? You’re asking questions like: • Who cedes to who? • Who owns what? • Who is obligated to who? • How liquid is the holding company? Are the individual capital and surplus of the individual companies fungible? This session will provide discussion concerning the interplay and consistency of assessing capital adequacy assessment and liquidity of a company in consideration of the above questions. Liquidity fundamentally differs from capital adequacy. While both are essential to remaining a going concern, liquidity has a “real time” dimension that capital does not. In addition, insufficient liquidity, non-fungibility of group capital, and the inability to raise cash at a cost-effective method can cause “sudden death” in insurers that are otherwise well-capitalized. As a result, the insurer’s capital management framework may be inappropriate. This session is intended to discuss this gap plus considerations of the fungibility of Group Capital, Holding Company Financial Considerations, and Liquidity as it relates to the capital adequacy of a P&C insurance Group. Time Wednesday, Nov 10 8:00AM - 9:15AM Pacific Standard Time Location Torrey Pines Speakers Raju Bohra, FCAS Willis Towers Watson Greg Dickerson A.M. Best 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 Timothy McCarthy, ACAS, Verisk/ISO; Elliot Burn, FCAS, ISO/Verisk; David Clark, FCAS, Munich Re America Services, Inc.; Angela Redding show more Description (This session is also to open to delegates of the virtual GIRO conference hosted by the Institute and Faculty of Actuaries. GIRO delegates will receive information on how to register from the IFoA.) 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. Time Wednesday, Nov 10 8:00AM - 9:15AM Pacific Standard Time Location Pacific Ballroom 18-20 Speakers Timothy McCarthy, ACAS Verisk/ISO Elliot Burn, FCAS ISO/Verisk David Clark, FCAS Munich Re America Services, Inc. Angela Redding CS-34: Taking Actuarial Banking to the World Kudzai Chigiji, Ishe Africa; Christiaan Opperman, KPMG; Iain Allan; Jerome Mahadeo, Actuarial Society of South Africa; Kearan Hartzenberg; John Young, Young & Son Underwriting show more Description The discussion will cover: - the journey of actuaries in banking since the late 80s - the types of roles actuaries are currently filling in banks - the trends in hiring actuaries in banks and across geographies - the involvement of actuaries in fintech - the history of the actuarial banking fellowship subject to date - the partnership with the ifoa - an overview of revised syllabi to be launched in 2022 - the additional 'certificate in actuarial banking practice' for non-assa and non-ifoa members. Time Wednesday, Nov 10 8:00AM - 9:15AM Pacific Standard Time Location Pacific Ballroom 16-17 Speakers Kudzai Chigiji Ishe Africa Christiaan Opperman KPMG Iain Allan Jerome Mahadeo Actuarial Society of South Africa Kearan Hartzenberg John Young Young & Son Underwriting CS-40: Understanding the Big Picture: What are the Downstream Impacts of YOUR Analysis or Model? Dustin Duncan, FCAS, RPC Tyche; Chris Gross, ACAS, Gross Consulting; Kevin Madigan, ACAS, Gross Consulting, Genuine Risk Advisor, FTI Consulting; Kristen Bessette, FCAS, QBE North America show more Description In this session, we will discuss how the work of a single Actuary or team of Actuaries impacts (or could impact) other functional areas within an insurance company. We will examine these downstream impacts through the lens of the Pricing, Reserving and Capital Modeling Actuary and will touch on the impacts across these functional areas as well as other functional areas including Underwriting, Risk Management, Finance and Asset Management. Throughout this session, the audience will receive tips on how they can break down functional silos and enhance cross-functional collaboration through improved inter-disciplinary communication and the creation of analyses / models which reflect a more holistic understanding of the impacts of their work across the firm. Time Wednesday, Nov 10 8:00AM - 9:30AM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Dustin Duncan, FCAS RPC Tyche Chris Gross, ACAS Gross Consulting Kevin Madigan, ACAS Gross Consulting, Genuine Risk Advisor, FTI Consulting Kristen Bessette, FCAS QBE North America CS-41: University Award Program Stefanos Orfanos, FCAS, Georgia State University; Brian Hartman, Brigham Young University; Jae Kyung Woo, University of New South Wales; John Zicarelli, Arizona State University show more Description Interested in learning how companies can partner with universities to prepare the next generation of property and casualty actuaries? Want to know the innovative ways universities are incorporating property and casualty into their curriculum, research, and industry engagement initiatives? Then attend this session presented by representatives from the 2021 CAS University Award winning schools: Arizona State University, Brigham Young University, Georgia State University and University of New South Wales. Time Wednesday, Nov 10 8:00AM - 9:15AM Pacific Standard Time Location Temecula 1-4 Speakers Stefanos Orfanos, FCAS Georgia State University Brian Hartman Brigham Young University Jae Kyung Woo University of New South Wales John Zicarelli Arizona State University
9:30am Pacific Standard Time Refreshment Break & Exhibits show more Description Name badges are required at all events. Time Wednesday, Nov 10 9:30AM - 10:00AM Pacific Standard Time Location Pacific Ballroom Foyer - Exhibits
10:00am Pacific Standard Time CS-7: Climate Change: Actuarial Roles and Strategies Graham Hall, PwC; Adam Kallin, PwC; Matthew Shockley, PwC show more Description This session will introduce the key concepts actuaries need to know in relation to the impact of climate change and detail areas of practice where actuaries have a crucial role to play, both within insurers and at other businesses. Specifically the session will cover: ● The key climate change risks that insurers need to consider including physical and transition risks ● Climate change insurance regulatory considerations (including SEC and DOI specific developments) and stakeholder overview (e.g. investor preferences) ● Relevant climate change reporting standards, including TCFD ● Climate change risk assessments and integration into risk management frameworks ● Climate change scenario testing - data and methodologies ● Impact of recent extreme weather events on historical claims experience and reserving strategies for future climate uncertainties. ● What does this mean for actuaries and what is our role? Time Wednesday, Nov 10 10:00AM - 11:30AM Pacific Standard Time Location Pacific Ballroom 23-24 Speakers Graham Hall PwC Adam Kallin PwC Matthew Shockley PwC CS-15: Enabling the Exponential Actuary: Evolve From Jobs to Superjobs Kelly Cusick, ACAS, Deloitte Consulting LLP; Taralyn Slusarski, FCAS, Deloitte Consulting LLP; Wesley Griffiths, FCAS, Travelers Insurance; Howard Kunst, FCAS, CCRMP, CoreLogic; John Richards, Deloitte show more Description The actuarial professional is evolving as leaders seek more insights from actuarial advisors, work is augmented with automation and artificial intelligence, and societal trends shift traditional ways of working. This evolution is an opportunity for actuaries to reframe job roles to increase their ability to influence business decisions and marketplace outcomes. With routine work increasingly automated, new types of “superjobs” have emerged that integrate domain, technical, and human skills. This session will outline a path for actuarial leaders and professionals to navigate these shifts, incorporating topics such as: 1. Emerging roles and related capabilities within an actuarial function 2. Innovation in recruitment, career development, and retention of actuaries 3. Ways to bolster leadership, communication, collaboration, and other critical human skills Attendees will explore research and case studies into workforce transformation and walk away with key actions to enable the Exponential Actuary workforce of the future. Time Wednesday, Nov 10 10:00AM - 11:15AM Pacific Standard Time Location Pacific Ballroom 15 Speakers Kelly Cusick, ACAS Deloitte Consulting LLP Taralyn Slusarski, FCAS Deloitte Consulting LLP Wesley Griffiths, FCAS Travelers Insurance Howard Kunst, FCAS, CCRMP CoreLogic John Richards Deloitte CS-18: Enterprise Risk Management: The Case for Adaptability of your ERM Program. David Ingram; Michael Thompson show more Description Many lessons about public health are being learned from the COVID-19 pandemic. At the same time, we are also being presented with new insights into ERM strategy — if, that is, we can take the time to reflect. The pandemic has made it abundantly clear that a business, including P&C insurers, needs to be able to adapt to changes in its operating environment and economic environment, especially severe changes. But what is not obvious from this one extreme situation of the pandemic, is that adapting is one of the most important strategic choices for any business with a long-term perspective. This session is intended to address changing the current paradigm of a focus on “today and tomorrow” to a “long-term perspective” and to discuss the transition for transitioning from static state ERM framework to one that prompts adaptability and agility within changing environments over the course of a forecasting time period. In addition, in this session, we will address the views of risk previously presented and to display a methodology to model strategies based on changes in the environment Time Wednesday, Nov 10 10:00AM - 11:15AM Pacific Standard Time Location Torrey Pines Speakers David Ingram Michael Thompson CS-26: New Results in Granular Reserving Jean-Philippe Boucher, UQAM; Mathieu Pigeon, UQAM; Helene Cossette, Laval University show more Description 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 condition often essential for being able to regularly use granular reserve models in practice. Finally, to reduce the effect of the age of the exposure on the granular reserving model, an improvement of the model is proposed, where the residuals of a first regression model is used. All models are applied with real insurance data from a Canadian insurer. Using Open Files for Individual Loss Reserving in Property and Casualty Insurance (M. Pigeon) Tree-based techniques have recently shown to being an interesting and effective tool to be used in the establishment of loss reserves on an individual basis. These new approaches to tackle the reserving task pose some challenges. After a brief literature review on the recent research works on the use of these strategies in a loss reserving context, we propose in this talk to investigate in detail methodologies based on survival analysis and based on imputation of missing data to include open files within the loss reserving process. We compare their performance with some classical aggregate approaches (Mack's Chain-Ladder, generalized linear models, etc.) through a simulation study. Time Wednesday, Nov 10 10:00AM - 11:15AM Pacific Standard Time Location Temecula 1-4 Speakers Jean-Philippe Boucher UQAM Mathieu Pigeon UQAM Helene Cossette Laval University CS-8: Professionalism: Skit Based Session, Based on New Aon Skits Pat Teufel, FCAS, University of Connecticut; Daniel Greer, FCAS, Aon; Sasha Wiegand, FCAS, Oliver Wyman Actuarial Consulting show more Description CAS members are required to invest three CE hours a year to review professionalism topics. One reason is that we all have times in our career where there is pressure to cut a corner or compromise our principles for sake of expediency, to avoid embarrassment, or due to other pressures. One way to prepare for these challenges is to see others in a similar situation and to learn from their experience and mistakes. In this session, skits are presented in which an actuary had pressure to compromise on our professional principles. In addition to viewing the skits, we will present the relevant precepts from the code of conduct and discuss insights and practical challenges that arise in their implementation. Come prepared to interact with the speakers and the audience! Time Wednesday, Nov 10 10:00AM - 11:15AM Pacific Standard Time Location Pacific Ballroom 18-20 Speakers Pat Teufel, FCAS University of Connecticut Daniel Greer, FCAS Aon Sasha Wiegand, FCAS Oliver Wyman Actuarial Consulting CS-36: The Evolving Cyber Landscape and Insurance Business Model Jess Fung, Guy Carpenter & Co. LLC; Andrew Newbill, FCAS, Google; Eric Murphy, ACAS, At-Bay show more Description • Current state of the cyber market: recent trends (ransomware, systemic risk), claims, large events • Industry responses: rate actions, underwriting actions, capacity constraint, aggregation management • Analytics for cyber risk quantification: types of cyber data and models companies use, how and why do them use them • High level methodology around how Google approaches cyber risk & what makes Google's risk unique • Discussion around insurer partnerships such as Google's Risk Protection program and the importance of developing partnerships to address cyber risk Time Wednesday, Nov 10 10:00AM - 11:15AM Pacific Standard Time Location Pacific Ballroom 16-17 Speakers Jess Fung Guy Carpenter & Co. LLC Andrew Newbill, FCAS Google Eric Murphy, ACAS At-Bay CS-37: The Road to Vehicle Automation from an Insurance Perspective Matt Moore, Highway Loss Data Institute; Kay Wakeman, IIHS-HLDI show more Description IIHS-HLDI researchers have recently completed groundbreaking research that significantly expands our understanding of the impact of advanced driver assistance systems (ADAS) and driving automation on highway safety and auto insurance. Currently, the most advanced vehicles for sale in the US have Level 2 automation, but the effect on claim frequency is mixed for these systems. The impact of these systems on repair costs and collision claim severities is complex. The enabling sensors can be expensive when damaged because in addition to being replaced, they often need to be recalibrated. However, a deep look at the affected claims has revealed that at least some of the changes in claim severities are due to mean shifting related to the operational speeds of the systems. Finally, the variability in effectiveness of advanced driver assistance systems by vehicle age, driver age, mileage, and registered vehicle density will be examined. Time Wednesday, Nov 10 10:00AM - 11:15AM Pacific Standard Time Location Pacific Ballroom 25-26 Speakers Matt Moore Highway Loss Data Institute Kay Wakeman IIHS-HLDI
11:45am Pacific Standard Time GS-4: Executive Roundtable: Actuaries Making a Splash in Non-Traditional Roles Isaac Espinoza, FCAS, Root Insurance Company; Tetteh Otuteye, FCAS, GM Cruise; David McFarland, FCAS, Coterie; Amit Verma, ACAS, KibaRisk, LLC show more Description This general session puts the spotlight on four veteran actuaries who have ventured outside their traditional actuarial roles to be successful in non-traditional executive positions. Whether it is leading risk management and insurance strategy at an autonomous vehicle company, making investments in startups as a venture capital investor, being the insurance head of an insurtech operation, or founding a new company from scratch, this pioneering group of actuaries will share the highs and lows of their interesting career paths. They will also discuss emerging market trends as well as opportunities and threats for those in the actuarial profession. Time Wednesday, Nov 10 11:45AM - 1:00PM Pacific Standard Time Location Pacific Ballroom 18-22 Speakers Isaac Espinoza, FCAS Root Insurance Company Tetteh Otuteye, FCAS GM Cruise David McFarland, FCAS Coterie Amit Verma, ACAS KibaRisk, LLC
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