Data for ERM & Solvency II 2017
7 June 2017, Hilton London Bankside, 2-8 Great Suffolk St, London SE1 0UG

Chair's opening remarks

Keynote: What can an insurer learn from InsurTech now?

• Taking risks as an organisation, rewarding risk on a personal level and encouraging 'intrapreneurs'
• Thinking digitally: keeping up with what machines are capable of and evaluating which is better for a particular task – human or machine?
• Developing a holistic view of the customer
• Continually adapting and problem solving in order to evolve
• Examining the impact of InsurTech on regulating risk management
• Embracing the potential to do more business in a customer friendly environment

Tomi Fyrqvist, Associate, AXA Strategic Ventures

Keynote: Regulatory perspective 2017

Patrick Hoedjes, Head of the Oversight and Supervisory Convergence Department and Chair of the IT & Data Committee, EIOPA

Panel: The Solvency and Financial Condition Report (SFCR): delivering more transparency to Stakeholders

• Sourcing the required information on business and performance, systems of governance and the company's risk profile and solvency position
• Releasing commercially sensitive information: when to apply for waivers
• Providing a more informed picture as to how the company manages risk, the capital it holds and underlying business performance

Panellists:
David Walker, Head of Analysis, Insurance Risk Data
Grant Mitchell, Chief Actuary General Insurance, Co-op Insurance
Ross McGee, Chief Risk Officer, One Re Ltd

Discussion Groups: What are the challenges being faced in collecting data for Solvency II in:

• Pillar 1
• Pillar 2
• Pillar 3

Discussion group leader: Roger Dix, Chief Risk Officer, Wesleyan

Panel: Regulatory panel

• Integrity and consistency
• Examining some of the areas that have proved problematical (eg a 'state owned bank')
• Building tools to cut and aggregate information
• Standardising the categorisation of data
• How are we using the data collecting under Solvency II?
• Data protection

Panellists:
Dr. Mojca Piškurić, Deputy Director, Insurance Supervision Agency, Slovenia
Monika Samtani, Prudential Technical Specialist, Gibraltar Financial Services Commission
Patrick Hoedjes, Head of the Oversight and Supervisory Convergence Department and Chair of the IT and Data Committee, EIOPA

Moderated by:
Anne Leslie-Bini, Associate Director, BearingPoint

Panel: Uncharted territory: risk modelling in the context of ultra low interest rates

• The new challenges facing risk management
• Understanding the impact of investing in alternative assets and restructuring the book
• Identifying data gaps and sourcing the missing data
• Monitoring and enhancing risk models and their calibrations

Panellists:
Dr Christian Dahmen, Chief Risk Officer Health, Munich Re
Joseph Lu , Director, Longevity Science, Legal & General Retirement
Richard Charlton, Deputy Chief Risk Officer, Canada Life

Moderator: Asa Gibson, Editor, Insurance Asset Risk

Presentation: Data regulation - the EU’s General Data Protection Regulation (GDPR) and its impact on the insurance industry

With just under one year before compliance with GDPR is required, it is concerning that very few insurers’ plans are fully developed or at an advanced state. Compared to Solvency II, with one year to go to compliance insurers were in testing and dry run mode, with most project activities already completed.

The insurance sector faces one of the biggest challenges in achieving GDPR compliance due to:

• The volume, type and sensitivity of personal information processed by insurers.
• The extended value chain with third parties.
• The inherent challenges posed by a complex set of legacy systems and the associated control environment.

Insurers are going to have to sprint to achieve compliance and ruthlessly prioritise on high risk / high impact areas first.

Chris Suk, Senior Manager, KPMG

Presentation: Efficient Solvency II data and process management

• Status quo and ongoing challenges of Solvency II implementations
• Measures for reducing complexity and time-consumption of data preparation
• Examples from Europe-wide implementation projects

Dr. Alexander Ludwig, Manager, zeb

Panel: What will IFRS 17 mean for data and actuarial systems?

• How the new accounting regulation will reshape P&L reporting
• Dealing with granularity of contracts, contractual service margin, and meeting the reporting timelines
• Implementation challenges: will work done for Solvency II preparation help?
• Managing the relationship between actuarial and finance team

Jo Clube, Group Technical Accounting Director, Aviva
Prashanth Ariyam, UK IFRS 17 Audit Lead, Deloitte
Richard Olswang, Head of Finance Actuarial, Prudential Plc
Thomas Behar, Chief Actuary, CNP Assurances

Moderator: Ross Chapman, Marketing Director, Aptitude Software

The submission of the first annual returns under Solvency II: a presentation of the Central Bank of Ireland’s validation approach and early lessons

• Assessing data quality
• Identifying the root causes of variations in the quality of submissions to date
• Putting controls in place to mitigate risks to the quality of reporting
• To what extent has the review, and governance processes within firms been validated or shown to be ineffective?
• Ensuring integrity of data from origin to final reporting
• Meeting the dual requirements of “fit for purpose” and “right first time”

Dr Allan Kearns, Head of Insurance Analytics, Central Bank of Ireland

Submission of the first annual returns – the insurer's experience:

•  Using the quarterly reporting as a ‘learning curve’
•  Main technical themes
•  Insights from the Lloyd’s experience
• Planning for next time

Paul Appleton, Senior Manager Accounting Policy, Lloyds 

Q&A - First annual returns

Keynote: The CRO and the risk team of the future

The skills of an effective risk function have evolved over the past decades due to regulatory change and financial innovation. Looking forward, the role of risk once again sits on the brink of uncertain development driven by regulatory and political change and the potential opportunities and threats of digitalization and disruption.

Frieder Knüpling, Group Chief Risk Officer, SCOR