Insurance Risk & Capital Americas

10 On The Park • 60 Columbus Circle, New York, NY 10019, USA

Agenda

08.00

Registration and morning coffee

08.55

InsuranceERM welcome address

Christopher Cundy, Managing Editor, InsuranceERM

09.00

KEYNOTE ADDRESS: What are risk managers thinking about?

  • The continuing evolution of risk and how to stay one step ahead  
  • Rapidly changing business and operating models, climate change, coastal risk and recent natural catastrophes, changes in consumer behavior, and uncertainties about risks related to technology and innovation
  • How to respond swiftly to new challenges such as interconnectivity, social movements and unrest
  • Driving conversations around risk that lead to action
  • Implementing a healthy risk culture

Alessa Quane, Executive Vice President and Chief Risk Officer, AIG

 

09.20

KEYNOTE PRESENTATION: The state of the industry

  • The health of balance sheets and risk capital availability
  • Barriers to top-line growth and bottom-line profitability
  • Increasing market penetration through innovation
    • AI and chatbots; different portals of access
    • Mobile devices and user experience (UX)
    • Claims submission and policy requests in a digital age
  • How are roles within insurance companies adapting to new technological and risk requirements?
  • InsurTech: an opportunity for M&A or competition?

James Lynch, Chief Actuary, Insurance Information Institute

09.45

PRESENTATION: Regulatory pressures

  • US GAAP updates: the impact on capital management decisions and ERM
  • IFRS: the importance of being financially bilingual
  • Update on the progress of the IAIS Capital Solvency and Field Testing Working Group
  • How might International Capital Standards (ICS) impact ORSA and ERM?
  • Principle based approaches to reserves and capital: progress of implementation
  • Operational risk surcharges for health insurers
  • NAIC liquidity stress testing
  • DOL Fiduciary delay: what could it means for the types of transactions allowed?

Panelist:

Linda Duzick, Manager – Insurance Policy Section, Division of Supervision and Regulation, Board of Governors of the Federal Reserve System
Laurel Kastrup
, Vice President, Risk Management and Financial Reporting Council, American Academy of Actuaries
Edward Mishambi
, Vice President, Head of Risk & Regulatory Affairs, and Assistant Treasurer, RenaissanceRe
John Robinson, Director PBR – Valuation Actuary, Minnesota Department of Commerce

Moderator: Mark Mennemeyer, Director, Willis Towers Watson

10.30

PRESENTATION: Economic capital and modelling

  • Which strategic considerations should companies weigh up?
  • Recent trends in capital management and modelling
  • Application of stochastic modelling to underwrite risk
  • Long-term risks versus short-term distractions
  • Model risk and validation: what challenges do people face?
  • Stress-testing: examples, advances in models and scenario inputs

Xiaowei Han, Director, Universal Life Valuation and Modeling, Transamerica

10.50

Coffee

11.20

PANEL: Risk-based capital best practice

  • Group capital regulation and requirements: constraints and best-practice assessments
  • Risk-adjusted return on capital: how do you best calculate it and use it?
  • Measuring excess capital and how to feed this through to risk appetite

Panelists:

Lou Felice, Solvency and Capital Policy Advisor, NAIC
Hany Gobreial, Vice President, Risk and Capital Management, Pacific Life
Sarah Williams, Senior Vice President, Head of Enterprise Risk Management, Global Atlantic Financial Company
Gerald Wilson, Vice President, Senior Risk Officer, USAA – FASG Risk

Moderator: Brian Rhoads, Insurance Practice Lead, QRM

12.00

INDUSTRY SPOTLIGHTS: Future trends - what is next for insurers?

  • Current and emerging risks for key insurance sectors
  • What does the insurance industry need to know about innovation, InsurTech and disruption trends?

Audrey Rampinelli, Senior Risk Executive and Former Vice President of Risk Management at Loews 

12.20 P&C SPOTLIGHT

  • Developments in AI, InsurTech and the effect of product innovation on liability risk

John Heveran, Chief Digital Enablement Officer, Liberty Mutual

12.40 LIFE SPOTLIGHT

  • Longevity and mortality risk assessments: how are business and risk models changing for life insurers?

Marianne Purushotham, Corporate Vice President and Chief Actuary, LIMRA

13.00

Lunch

14.00

PRESENTATION: Cyber risk – opportunities and risk assessments

  • Cyber risk insurance products: how to model and measure the risk? How profitable is it as a line of business?
  • ERM of product lines: where are the possibilities for risk aggregation and concentration risk analysis?
  • Coverage language: identifying interconnected liabilities and losses
  • The NY cybersecurity regulation: how is implementation progressing?
  • How is the NAIC setting the stage for risk management with the Data Security Model Law?
  • The CISO view: how best to analyze, report on and manage cyber-related events
  • Reputational and operations risk budgets: how to quantify and expected cost

Patrick Thielen, Senior Vice President, Financial Lines and Product Lead for Cyber and Technology E&O lines, Chubb NA

14.20

PANEL: The opportunities and pitfalls of data and IoT

  • How are insurers imbedding digital technology and big data metrics?
  • Use of data mining and utilizing third-party data: what are the enterprise risks?
  • Data privacy: what North American regulators are thinking
  • Industry case studies
    • Forward-looking modeling in the re-insurance business
    • Telematics, predictive analytics, usage-and behavior-based models: how best to implement
  • Blockchain: a game-changer for transaction costs and data security or an interesting curiosity?
  • Designing strategic road maps and decommissioning legacy systems
  • Attracting innovative and digital talent

Panelists:

Brian Coleman, Vice President, Global Risk Management, Combined Insurance
Riccardo Baron, Big Data and Smart Analytics Lead, Swiss Re
Jigar Gandhi, Counsel, American Council of Life Insurers

Moderator: Christopher Cundy, Managing Editor, InsuranceERM

 

 

15.00

CRO FORUM: The rapidly evolving role of the CRO

  • How has the role and remit of the CRO changed in recent years? Is it clearly defined?
  • What are the critical insights CROs must now understand?
  • How do you use these insights to drive strategy?
  • Is the value of risk management for improved decision-making being overlooked?
  • The additional expectations of the CRO
    • Risk appetites, metrics, business management and reporting
  • Strategic risks: what could impact business models?
  • Operational and organizational risks: how do you quantify and set risk appetites?

Panelists:

Ophelia Engelhardt-Funke, Chief Risk Officer, Hannover Re
Keyan Shahdi, Chief Risk Officer, SCOR Global P&C Americas
Andreas Graser, Chief Risk Officer, Allianz Life Insurance Company

Moderator:
Christopher Cundy
, Managing Editor, InsuranceERM

15.45

Coffee Break

16.15

CHIEF ACTUARY FORUM: The new face of the CA

  • Emerging risks: what are the main priorities of a CA considering industry challenges ahead?
  • How has the role and remit of the CA changed in recent years?
  • What are the critical insights CAs must now understand?
  • The shift towards data science: is the CA role evolving to that of a Chief Data Scientist?

Panelists:

Angela Burgess, Senior Vice President & Chief Actuary, Assurant
Steven Finch, Chief Actuary, Manulife Financial
Andrew Rallis, Executive Vice President & Global Chief Actuary, MetLife
Candace Woods, Senior Vice President & Chief Actuary, Prudential Financial

Moderator: Mark Lyons, Senior Vice President & Chief Actuary, General Insurance, AIG

17:00

PRESENTATION: Joining the dots on ERM

  • What does an effective ERM strategy look like and what roles are needed for implementation?
  • How do CRO's work best with underwriting and investment leaders?
  • Cross-divisional ERM conversations: which are most important and are they occurring?
  • What does the increasing emphasis of rating agencies on ERM mean for reporting lines and risk management?
  • How is ERM changing to become more effective as a participant in strategy discussions?

Dave Ingram, Executive Vice President, Willis Re

17.30

Closing Remarks and End of Conference