The reserving seminar is an important event for all those involved in general insurance reserving, from those performing the analysis to those overseeing it and providing insights. Every year, for one day, a diverse line-up of speakers presents a thought-provoking but accessible technical and professional programme to qualified actuaries and students alike.
Further information will be provided on this page in the coming weeks.
Contact Events Team for more information.
0207 632 1498
Please note that this programme may be subject to change/update
|08.30 - 09.00||Registration|
|09.00 - 09.05||
Matthew Pearlman, LCP
|09.05 - 09.50||Plenary 1: UK motor bodily injury claims - a practitioner’s perspective
Reserving UK motor BI claims is probably more challenging than it has ever been. The most important drivers of the reserves are either not present in the development data or are hard to discern using traditional methods.
Nonetheless, competitive pressure remains intense and, in order for firms to maintain their edge, they need to understand their liabilities as clearly as possible.
We will provide a practical perspective on how we’ve been helping to address these challenges when working with insurers over the past year or so.
This will include a number of case studies and ideas to help you improve the understanding of the liabilities for your firm. Some of the lessons may also have wider applicability to other classes of business.
Speaker: Charl Cronje and Rose Pashley, LCP
|09.50 - 10.10||Working parties showcase|
|10.10 - 10.15||Transfer Time|
|10.15 - 11.00||Workshop session A:
A1: Third Party
Ninth iteration of the Institute and Faculty of Actuaries Third Party Working Party (TPWP). In addition to an update of the trends in third party (injury and property damage) personal motor claims this year the analysis has been extended to provide insight into the frequency and severity trends associated with own damage claims. Claim experience is expected to be enhanced by a range of additional analyses including but not limited to economic, traffic density and wider insurance market developments.
Speakers: Simon Black and Robert Treen - TPWP
A2: Meeting standards
Meeting standards while leaving users and the actuary feeling satisfied is made simpler thanks to a first principles approach developed by the chair of the Good Actuarial Report Working Party. High Level Principles and practical examples will be discussed.
Speaker: Chris Smerald, Good Actuarial Report WP
A3: Reserving in Machine Learning
The innovative reserving come to augment the reserving capabilities on top of the existing traditional methods, pressure cooker creating mist of steam. This result of our landscape being currently revolutionising with utilising artificial intelligence functions and its application. We are here to embrace this CHANGE by applying different approaches/methodologies to reengineer our pressure cooker nobs reducing the steam.
Speaker: Asif John, TORP
A4: Efficient Reserving: What is Excel Best Practice?
This session will provide advice for excel improvements to take back to your team and initiate in-house. This will enhance the efficiency of your reserving and allow you to spend less time chasing errors and more time getting the numbers right.
Speakers: Paul Fox and Philippa King
|11.00 - 11.20||Morning refreshments|
Plenary 2: On the Lifetime and One-Year Views of Reserve Risk, with Application to IFRS 17 and Solvency II Risk Margins
This presentation brings together analytic formula-based and simulation-based approaches to reserve risk in general insurance, applied to the traditional actuarial view of risk over the lifetime of the liabilities and to the one-year view of Solvency II. It also connects the lifetime and one-year views of risk.
The advantages of a simulation-based approach are highlighted, giving a full predictive distribution, which is used to estimate risk margins under Solvency II and risk adjustments under IFRS 17. Methods for obtaining both the opening capital requirement and future capital requirements in a cost-of-capital risk margin are discussed, and also methods for estimating IFRS 17 risk adjustments using risk measures applied to a simulated distribution of the outstanding liabilities over their lifetime. Other aspects of IFRS 17 risk adjustments will also be discussed.
Speaker: Peter England, EMC Actuarial and Analytics
Plenary 3: IFRS 17
General overview of IFRS 17 and the key current practical implementation issues (inc unit of account/onerous contracts, PAA eligibility, reinsurance).
Speaker: Alice Boreman, IFRS 17 WP
Drawing on the most recent material prepared by the IFoA, this is designed to be a highly interactive discussion of the issues actuaries face in maintaining professional standards in today’s world.
Speaker: Richard Winter
|Working parties showcase|
|Workshop session B
Speaker: Peter Saunders, PPO WP
B2: IFRS 17 - PAA eligibility
Deep dive into PAA eligibility (overview, why you may want to prove eligibility, key drivers of differences, practical examples).
Speaker: Alice Boreman, IFRS 17 WP
B3: Handling difficult conversations
We all face ‘difficult conversations’ from time to time – whether with bosses, direct reports, peers or even at home. In this workshop, we will look at how you can get yourself in an optimum frame of mind in advance of a challenging conversation as well as techniques to employ during the conversation to deliver your message effectively to a variety of recipients.
Speaker: Gill Hicks, Coach Advancement
Plenary 4: Lloyd's update - Latest trends in reserving, Catastrophe reserving, Actuarial Function reporting
Speakers: Taraash Gautam and Catherine Scullion, Lloyd's
Plenary 5: Claims inflation round-table
Are we enjoying an interval of inflated actuarial confidence? Be prepared to fight your corner as GIROC sets some provocative scenarios that cover inflation from a ground-up, modelling and business context.
Speakers: Keith Brown, Chris Smerald, James Orr
|17.40 - 18.40||
Chair's Closing followed by Drinks Reception
Drinks reception sponsored by Bolton Associates.
99 City Road Conference Centre
99 City Road
Nearest Public Transport
BY Tube: Old Street (Northern Line) is 1 minute walk
Once you are at Old Street Tube follow the signs for Subway 2 and proceed along the covered ramp walkway. This will lead you directly to the building entrance.