Chairman's opening remarks
Keynote: The strategic landscape: What are the relevant strategies for insurers for 2018 and beyond
- Further M&A activity and buy-outs?
- High Performance computing for real-time analytics
- Big data analytics and machine learning
- Internet-of-things and now-casting
- What industry disruptions can we anticipate over the next 5/10 years?
- Driverless cars – what impact will this have on the general insurance market?
- Embracing the opportunities posed by Fintech
- Sharing economy platforms – can insurers prove themselves agile enough or will the start ups get there first?
- What medium will new business be written through?
- Overhaul of distribution channels
William McDonnell, Group Chief Risk Officer, RSA Group
CRO Roundtable: Finding the strategic value in Solvency II
- A return to meaningful risk analysis and measurement
- Where is the full value to be found? In the ORSA?
- Use of Pillar 3 principles in BAU.
- SFCR/RSR/ORSA Risk of overlap and repetition between these reports – are we on the treadmill of creating paperwork to satisfy regulatory requirements or can we derive value from these activities as well?
- Which risk –based measures are working?
- Utilizing and progressing the use of the internal capital model as an aid to business decisions, rather than merely to satisfy regulatory requirements
Simon Gadd, Group Chief Risk Officer, LEGAL AND GENERAL
Simen Gaarder, Chief Risk Officer, GJENSIDIGE FORSIKRING ASA
Fabrice Brossart, Chief Risk Officer, AIG
Moderator: Vinaya Sharma, Actuary and Managing Director, Quantitative Risk Management, Inc
Panel: Will we ever achieve a level playing field?
- Implications of Brexit for insurers and potential changes to the regulatory landscape
- What is passporting?
- What is equivalence?
- To what extent has Solvency II met its objectives?
- Repercussions of “gold plating”
- What reforms to SII can we realistically expect once Britain exits the EU
- Will this move us closer to a level playing field??
- The Insurance Capital Standard – what will this mean in practice and how will this interact with Solvency II?
Reinhard Eckl, Group Regulatory Affairs, ALLIANZ
Paul Barrett, Head of Risk Framework & Regulatory Strategy,AIG Europe
Anthony Brown, Director, Group Risk, PRUDENTIAL PLC
David Walker, Senior Writer and Manager, Projects, InsuranceERM.
In conversation with Fausto Parente
Fausto Parente, Executive Director, EIOPA
Christopher Cundy, Managing Editor, InsuranceERM
Panel: Optimal Capital Management Strategies
- Trends in tackling solvency issues – do you act on the risk side or the capital side?
- New ways of collecting capital for risk management purposes – exploring growth opportunities.
- Reinsurance as a capital management and capital optimization tool.
- Mechanics to achieving a greater degree of optimization of capital
- Weighing up the risk you retain on your balance sheet vs. costs and constraints of hedging. Is there a big enough focus on this?
- Reinsurance of risks that cannot be hedged – a way to tackle the risk margin?
- The ORSA’s role in capital planning
Mark Laidlaw, Life Finance and Group Actuarial Services Director, LV=
Craig Martindale, Group Head of Capital Management, HISCOX
Mark Chaplin, CRO, UK Insurance, AVIVA
Moderator: Colin Holmes, Managing Director, Enterprise Risk Solution, Moody's Analytics
Calculating the capital buffer
- What approaches are firms taking to define their capital buffer?
- Is it an implicit or explicit amount?
- How is it monitored over the year?
- Validating the buffer
- Capital buffer versus risk appetite?
- Regulatory capital versus economic capital?
Ian Marshall, Senior Actuary, OLD MUTUAL
Panel: Living in a risk cultural world; Defining, initiating and embedding a risk culture
- What does a “good“ risk culture look like?
- Can behavioral economics play a role in getting us to “good”?
- Collapsing of risk lines – making sure everyone is risk aware
- Use of emotional intelligence to gain buy-in and ownership from the top down.
Roger Dix, Chief Risk Officer, WESLEYAN
Jim Ewing, Chief Risk Officer, AEGON UK
Jose Vazquez, Chief Risk Officer, DIRECT LINE
Peter Shepherd, Chief Risk Officer, ROTHESAY LIFE
Moderator : Gez Llanaj, Director, Risk and Capital, MAZARS
Panel discussion: spotlight on the consumer: using advanced data and analytics to better understand our customer and gain competitive advantage
- Intelligent client segmentation
- How is AI, big data and Internet of Things changing what and how much we know about out customer?
- How is FinTech changing consumer demands?
- How can behavioural economics enable us to know our customer better?
- Putting this information to use: how do we respond based on this improved insight?
- How do we reflect this in product offerings?
- EU’s General Data Protection Regulation
Kenny Holms, Head of Predictive Analytics, ARGO GLOBAL
Michael Natusch, Global Head of Artificial Intelligence, PRUDENTIAL
Darius Medora, Managing Director, buzzvault Limited
Sam White, CEO & Founder, PUKKA INSURE & ACTION365
Chris Cundy, Managing Editor, InsuranceERM
Presentation: First steps towards digitalisation is change: key challenges to becoming a digital insurer
- How do you define “digital” at your company? What is your final goal?
- Key challenges
- Facilitating a cultural change
- Creating a consumer centric business
- Talent pool
Martin Pluschke, CEO, CodeCamp:N GmbH
Panel: Modernizing the functioning of the board
- How has the new Senior Insurance Managers (and Certification) Regime impacted on board behaviour?
- How do we avoid box ticking to focus on strategic influencing?
- Enabling boards to better fulfill their role of supporting and challenging
- What tools should be at their disposal?
- Developing an effective ORSA as a board tool
- Education and involvement of those making recommendations to the board
- Better signposting of decisions and risks to the board
- Evaluating effective governance
- Strategic vs. operating oversight
- Composition, competency and dynamics
- Remuneration, culture and risk taking behaviour
- Development and succession planning
- Board information and support
- Role of diversity in the board (and the executive management team)
David Broome, Executive Director, Scion Bred
Erik Vynckier, Member of the Board, FORESTERS FRIENDLY
Dr. Roger Miles, Managing Director, Behavioural Risk, BERKELEY RESEARCH GROUP
Moderator: Vicky Kubitscheck, Non Executive Director, Chief Risk Officer and Board Advisor on Risk, Governance and Assurance
End of Day 1 and drinks reception
Keynote address: Market, political and regulatory volatility
- Overview of the current geopolitical and economic landscape and implications for insurers
- How do we manage this volatility and unpredictability on the balance sheet?
- What happens when these unpredictable market and political events combine with the limitations of the business model
- IDD, PRIIPs, GDPR (Insurance Distribution Directive, Packaged Retail Insurance and Investment based Products, General Data Protection Regulation
Cecilia Reyes, Group Chief Risk Officer, ZURICH
CRO Keynote panel: Profiling the risk team of the future
- What challenges will the risk teams of the future need to face?
- What business strategies will they need to initiate, execute and support?
- What will the structure of the risk team look like
- What will its place within the wider organization be?
- What alternative talent and skills should we be starting to introduce?
- Digital? IT?
- Occupational psychologists
- What other industries should we look to when hiring?
- How do you train your own talent up?
- Succession planning for the CRO
- Who is best placed to be CRO? What background?
- Key skills required now vs. 5 /10 years time
Stewart Gray, Finance and Insurance Risk Director, STANDARD LIFE PLC
Hilary Weaver, Chief Risk Officer, LLOYD’S
Frieder Knupling, Chief Risk Officer, SCOR
Alex Hindson, Chief Risk Officer, ARGO GROUP
Moderator : Omar Ripon, MOORE STEPHENS
Keynote: What does recent research tell us about longevity trends?
- What factors are currently influencing mortality rates?
- What impact can we expect the drive for preventative action, advances in healthcare and personal health monitoring products to have on life expectancy?
- Is the 150 club closer to becoming a reality?
- What sort of standard of health can we expect for the over 65s?
- What impact will the crisis in social care have on this?
- Level of health in the 90+ bracket
Sarah Harper, Professor of Gerontology, Director of Institute of Population Ageing, UNIVERSTY OF OXFORD
The disruptors panel: Defining the future of the insurance industry?
- Sharing of business models – comparisons between start-up business models and those of traditional insurance firms
- Projections for the future – what do you see as the main drivers for change in the insurance industry and how do you see the insurance industry evolving over the next 10 years?
- What needs to change in order to drive the industry forward
Henry Burton, Founder and CEO, ARTELLIGEN
Dylan Bourguignon, CEO, SO-SURE
Renaud Million, Co-founder and CEO, SPIXII
Moderator: Rob Murray, Partner, LCP
Facilitated working discussion groups
GROUP 1: THE TECHNOLOGIES SET TO REVOLUTIONISE THE GENERAL INSURANCE INDUSTRY
- Smart home, Driverless cars, Car telematics, Drones
- How will these advances impact and influence future business plans
- How to change your business model to benefit from these technologies and how to capitalize on it
- How are we approaching big data for pricing and risk management
GROUP 2: SPOTLIGHT ON LIFE PRODUCTS AND THE DRIVING FORCES AROUND THEM
- How can and should the life insurance industry respond to changes in longevity trends?
- As our beliefs of maximum possible natural human life expectancies are challenged, what will the impact be on insurance products?
- Challenge of creating attractive products in low rate periods
- Treatment of long standing or legacy customers
Panel discussion: The regulatory response to digitalisation and fintech disruption in the insurance sector
- What new key risks can we expect as a result of fintech disruption? Operational? Reputational? Other?
- What risk processes should be in place to reflect changes affected in the business model due to technical advancements
- As the wave continues, how may prudential regulation frameworks need to be changed?
- Regulatory obstacles to innovation vs. prudent regulation – finding the balance.
Didier Warzee, Expert of FinTech Innovation Unit, AUTORITE DE CONTROLE PRUDENTIEL ET DE RESOLUTION
Sylvia Cronin, Director of Insurance, CENTRAL BANK OF IRELAND
Huw Evans, Director General, ASSOCIATION OF BRITISH INSURERS (ABI)
Andries Beukes, Director, Muller Beukes Edvardsen (MBE)
ERM panel: what does a resilient business model look like?
- What challenges are likely to test the resilience of Insurers' business models in the next few years?
- Has solvency II effectively laid the foundations for us to build a resilient business to respond to emerging risks and disruption?
- What makes a resilient business model?
- Is it carrying out a continuous ORSA?
- How does value-adding emerging risk look like?
- Articulated thresholds/boundaries on certain risks?
- Key traits of resilient organisations?
Peter Telford, Enterprise Risk Director, LEGAL AND GENERAL
José Morago, Deputy Chief Risk Officer / Head of Department, FINANCIAL CONDUCT AUTHORITY
Richard Charlton, Deputy Chief Risk Officer, CANADA LIFE
Katja Pluto, Head of Enterprise Risk Management, ZURICH INSURANCE COMPANY
Panel: Capturing and modelling emerging risk
- How are firms using existing risk tools to identify and model emerging risks
- Use of Scenario analysis
- Horizon strategy
- Causal analysis
- What technique is proving effective?
- Embedding assumptions into your ERM strategy
- Identifying warning flags within your data. What are we learning about our ability to manage risk and the tools at our disposal?
- What needs to change to move risk management along swiftly enough to meet the challenge of the unknown “unknown” risks?
Dr. Kathrin Meier, Chief Risk Officer, ALLIANZ
Martin Massey, Chief Risk Officer, AL KOOT INSURANCE AND REINSURANCE
Dr. Rainer Sachs, Head of Emerging Risks and Reporting, MUNICH RE
Moderator: Michael Bartholomeusz, Deputy Chair of ORIC International and former experienced Chief Risk Officer