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Author:
David Edison, Moore Stephens LLP; Steve Hill, Lane Clark & Peacock LLP; Richard Kelsey, Equity Group and Heidi Whitlow, GAD
Source:
GIRO40

A10 - Would you fly Air Actuary?

30/09/2013 1 GIRO40 8 – 11 October, Edinburgh Would you fly Air Actuary? IFoA Working Party: Spreadsheet Models: Governance, Risk & Control David Edison, Moore Stephens LLP Steve Hill, LCP Richard Kelsey, Equity Group Dr Heidi ... read more >>

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Author:
Catherine Drummond and Phil Ellis, Lane Clark & Peacock LLP
Source:
GIRO40

A09 - What can we learn from “Aussie Rules”?

1 Phil Ellis & Catherine Drummond 9 October 2013 GIRO workshop A9 What can we learn from Aussie Rules? 2 Background LCP has advised clients in Australia for decades Including Appointed Actuary roles Actuarial specialist but ... read more >>

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Author:
Ji Yeo
Source:
GIRO40

A Report from GIRO Advanced Pricing Techniques (APT) Working Party

This paper examines in details six overlooked facts of using generalized linear models (GLMs) for non-life pricing and discusses whether the use of GLMs is still fit for purpose in a competitive market. The six facts of GLMs discussed are 1. Either zero or ... read more >>

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Author:
Paul Kaye
Source:
GIRO40

Plenary 2 - Paul Kaye

1 Case Study: Informing Reinsurance Decisions GIRO40 October 2013 Paul Kaye 1 Reinsurance decision making influences Decision Capacity requirements Risk Understanding Risk Appetite Theoretical solutions Market Appetite 2 2  ... read more >>

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Author:
Marion Gremillet, Pierre Miehé and José Luis Vilar Zanón
Source:
GIRO40

Reversible Jump Markov Chain Monte Carlo method

Calculating deterministic reserves is no longer sufficient in our times of enhanced Risk Management. Today, Insurers strive to have a complete view of the risk underlying reserves valuation: therefore stochastic projection methods become central to today’s ... read more >>

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Author:
Corina Constantinescu, University of Liverpool and Joseph Lo, Aspen
Source:
GIRO40

E11 - Presentation Spreedsheet

Literature\Quartic function - Wikipedia, the free encyclopedia.mht RuinTheoryStarterKit1 Spreadsheet demonstrating some ideas in: This spreadsheet demonstrate the classical ruin theory model with mixed exponential claim severity ... read more >>

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Author:
Joseph Lo and Corina Constantinescu
Source:
GIRO40

Ruin Theory Starter Kit #1

The aim of the paper is to provide general insurance actuaries a starting point for evaluating and engaging with ruin theory in a practical manner. Towards this goal, the paper undertakes three tasks. First, it sets out the basic mathematical principles ... read more >>

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Author:
Corina Constantinescu, University of Liverpool and Joseph Lo, Aspen
Source:
GIRO40

E11 - Ruin Theory Starter Kit #1

Ruin Theory Starter Kit #1 The Classical Model with Mixed Exponential Claims Corina Constantinescu Joseph Lo Abstract The aim of the paper is to provide general insurance actuaries a starting point for evaluating and engaging with ruin ... read more >>

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Author:
Solvency II Technical Provisions Working Party
Source:
GIRO40

Solvency II Technical Provisions for General Insurers

Solvency II Technical Provisions for General Insurers by the Institute & Faculty of Actuaries General Insurance Reserving Oversight Committee’s Working Party on Solvency II Technical Provisions: Susan Dreksler (Chair), Christopher Allen, ... read more >>

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Author:
Ji Yao
Source:
GIRO40

C06 - Generalized Linear Models for Non-life Pricing

Generalized Linear Models for Non-life Pricing - Overlooked Facts and Implications A Report from GIRO Advanced Pricing Techniques (APT) Working Party - Ji Yao August 2013 2 / 30 Abstract This paper examines in details six overlooked ... read more >>

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Author:
Actuaries of Smaller Insurers Working Party Report
Source:
GIRO40

B07 - Big things come in small packages

Working Party Report v016.docx Page 1 of 37 Actuaries of Smaller Insurers Working Party Report, GIRO 2013 Big things come in small packages Members of the working party Conor Dolan (chair) Cameron Heath Warren Hetz Sameer ... read more >>

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Author:
Working Party on Solvency II Technical Provisions
Source:
GIRO40

B06 - Solvency II Techical Provisions for General Insurers

Solvency II Technical Provisions for General Insurers by the Institute & Faculty of Actuaries General Insurance Reserving Oversight Committee’s Working Party on Solvency II Technical Provisions: Susan Dreksler (Chair), Christopher Allen, ... read more >>

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Author:
David Simmons and Alice Underwood, Willis Re
Source:
GIRO40

D05 - Economic capital model validation: process and technical guidelines

15/10/2013 1 ECONOMIC CAPITAL MODEL VALIDATION Alice Underwood David Simmons GIRO40 10 October, Edinburgh 2 All models are wrong… …but some are useful George E. P. Box 15/10/2013 2 Why validate? ECMs used in many ways, including – ... read more >>

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Author:
Greg Taylor, Taylor Fry Consulting Actuaries
Source:
GIRO40

B11 - ERM in an optimal control framework

14/10/2013 1 ERM in an optimal control framework Greg Taylor Taylor Fry Consulting Actuaries Sydney Australia GIRO40 Edinburgh, 8-11 October 2013 Background and objectives • Origins of Enterprise Risk Management (“ERM”) – Dynamic Financial ... read more >>

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Author:
Andrew Cox and Don Mango, Guy Carpenter
Source:
GIRO40

A04 and E04 - Capital allocation leading practices

1 Capital (Cost) Allocation Leading Practices A brief tour Don Mango, Vice Chairman, Enterprise Analytics Andrew Cox, Head of Advisory, International GUY CARPENTER Capital Cost Allocation Best Practices • Design-Driven Approach • Core Elements: ... read more >>

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Author:
Neil Hilary, Institute and Faculty of Actuaries and Malcolm Slee, Aviva
Source:
GIRO40

A01 - Avoiding the professional foul

14/10/2013 1 GIRO40 8 – 11 October, Edinburgh Contents 8-11 October 2013 2 1. New Requirements 2. Professionalism Content Development Working Group (PCDWG) 3. Supplementary material 4. Interactive exercise 5. 4Cs 6. Video Links 7. ... read more >>

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Author:
Mark Sansom; Martin McElwee
Source:
Practical guidance for volunteers - on issues relating to competition law

Practical guidance for volunteers - on issues relating to competition law

Freshfields Bruckhaus Deringer LLP Keeping within the boundaries of competition law Mark Sansom & Martin McElwee August 2013 1 What areas are we going to discuss? 1 Why does competition law compliance matter? Risks for the IFoA and its ... read more >>

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Author:
Joseph Lo, Aspen
Source:
GIRO Conference and Exhibition 2011

Extending the Mack Bootstrap

Winner of the 2011 Brian Hey Prize - GIRO Paper 2011 Foreword * Joseph Lo, London, U.K.; joseph.lo@aspen.co 29 Foreword Many general insurance actuaries have a love-hate relationship with the Mack bootstrap. The methodology has usefully provided ... read more >>

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Author:
David Brown, Chair, GIRO 2013 Third Party Claims Working Party
Source:
General Insurance Pricing Seminar

D3: GIRO Third Party Claims Working Party – Latest developments and findings relevant to pricing

Update from the Third Party Working Party David Brown, Direct Line Group Rob Treen, Towers Watson 01 July 2013 Colour palette for PowerPoint presentations Dark blue R17 G52 B88 Gold R217 G171 B22 Mid blue R64 G150 B184 Secondary ... read more >>

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Author:
David Brown, Direct Line Group and Rob Treen, Towers Watson
Source:
General Insurance Reserving Seminar

Plenary 6: Preliminary results from the Third Party Working Party: Motor reserving issues based on the latest 2012 industry data

Update from the Third Party Working Party David Brown, Direct Line Group Rob Treen, Towers Watson 01 July 2013 Colour palette for PowerPoint presentations Dark blue R17 G52 B88 Gold R217 G171 B22 Mid blue R64 G150 B184 Secondary ... read more >>