Insurance ERM Americas

Registration and morning coffee

InsuranceERM welcome address

Christopher Cundy, Managing Editor, InsuranceERM

KEYNOTE PRESENTATION: Navigating ERM challenges and making the most of opportunities ahead

• The latest trends in identifying and reporting on risk
• How are risk managers embedding risk culture into business processes?
• How can ERM and SRM better inform future business decisions?
• What new directions are ahead for the insurance industry and what opportunities do they offer?

Speaker: Rich Lauria, Associate Academic Director, ERM program of the School of Professional Studies, Columbia University, formerly SVP and Chief Corporate Actuary, Assurant

PANEL: The digital tech revolution, InsurTech partnerships and operational risk assessments

• The "tech gap" and upgrading systems: where are the strategic and operational risks?
• In what way do interconnected technologies intensify risk?
• CROs and CIOs: how can they best work together
• InsurTech investment and strategic partnerships versus acquisitions: what are the different ramifications for core impact, value and risk?
• How can internal innovation be augmented, accelerated and optimized under the partnering and investment approach?
• Could the rapid investment in InsurTech and technology upgrades be leading to a bubble?

Moderator: Edward Mishambi, Senior Vice President, Head of Risk Management, RenaissanceRe

Panelists:

Mick Prosser, Chief Technology Risk Officer – General Insurance, AIG
Keyan Shahdi, Chief Risk Officer, SCOR Global P&C Americas
Daniel Sinclair, Vice President, Corporate Development, The Co-operators Group
Zach Powell, Manging Director, Axis Digital Ventures

PANEL: Data, data everywhere – how predictive analytics and innovation are transforming ERM

• Modelling risk and validating models in an era of big data
• Can AI and machine learning transform risk management?
• How are actuaries using predictive analytics and AI to analyze complex datasets and understand risks?
• RPA and Internet of Things: the disruption of distribution, product development, claims adjudication and privacy
• The California Consumer Privacy Act of 2018: what does it signal for US insurers? Will other states follow suit?
• Do insurers need an ethical health-check?

Moderator: Ronan McCaughey, Deputy Editor and Commercial Editor, InsuranceERM

Panelists: Ophelia Engelhardt-Funke, Chief Risk Officer, Hannover Re
Michael Ferik, Executive Vice President, and Chief Financial Officer, The Guardian Life Insurance Company of America
Dror Katzav, Chief Executive Officer, Atidot
William Wilkins, Chief Risk and Data Analytics Officer, Safety National

PANEL: Cyber – the ongoing challenges in assessing risk

• What are the known risks and how are they being modelled?
• How are these models evolving and informing product development?
• Are models and underwriting approaches sufficient? Where are the gaps?
• Where might there be silent cyber risks and how do you prepare for these?
• How can we safely grow the market?

Moderator: Christopher Cundy, Managing Editor, InsuranceERM

Panelists: Casey Kempton, Senior Vice President, Digital Business Officer, North America Commercial Lines, Chubb
Brian Dusek, Assistant Vice President, Cyber Technical Underwriting, Zurich North America
Anthony Shapella, Managing Director, Risk Officer – Liability Lines, AIG
Kevin Sherry, Cyber Practice Leader, Everest Insurance

PANEL DISCUSSION: The driving forces behind capital and economic modelling today

• What changes are insurers expecting in their approach to capital and economic modelling? What are the main drivers?
• What assumptions are being incorporated into economic modelling in the current environment?
• How are models and risk-based capital calculations being used to support wider business decisions?
• Communicating models and modelling to stakeholders
• Model risk governance and management: how do you adequately validate and have controls in place?

Moderator: Daniel Finn, Managing Director, Head of North America Risk Solutions, Conning

Panelists:

Rodanthy Tzani, Vice President, Head of Model Risk Management, New York Life
Hany Gobreial, Vice President, Risk and Capital Management, Pacific Life
Chris Trost, Vice President, Corporate Actuary, Northwestern Mutua
Xiaowei Han, Vice President, Head of ALM, TIAA

PRESENTATION: Using stress testing and scenario analysis in an ERM strategy

• How to design adequate stress tests
• How are criteria evolving to recalibrate stresses and incorporate different methodologies?
• Regulatory approaches to stress testing
• Understanding tail risks and building the blocks for future stressors
• Use of data: what to do in the event of too much or too little information
• Where do liquidity stress testing and operational risk fit into the picture?

Speaker: Sarah Williams, Senior Vice President, Head of Enterprise Risk Management, Global Atlantic Financial Company

CRO FORUM: Evaluating risk in strategic planning

• What risks concern CROs the most?
• How have recent events impacted balance sheets and risk tolerances?
• How are CROs approaching other emerging risks – cyber, tech/disruption, climate?
• Competing demands: regulatory vs economic vs financial reporting results
• Stress testing and planning: considering the interaction of finance/risk/treasury functions

Moderator: Vinaya Sharma, Actuary and Managing Director, QRM

Panelists:

Turab Hussain, Chief Risk & Actuarial Officer, PartnerRe
Alla Kleyner, Chief Risk Officer, Legal & General Retirement America
Michelle Moloney, Chief Risk Officer, Protective
Thomas Passante, Chief Risk Officer, Everest Re Group

GAAP targeted improvements, CECL and LDTI

• How are changes to accounting rules impacting insurers? What solutions and process are being implemented?
• How does US GAAP LDTI compare with IFRS 17 in scope and requirements?
• In what way will calculations add to complexity and impact risk assessments?
• How prepared are insurers for LDTI? What key gaps need to be addressed?
• What are the costs and challenges of LDTI implementation?
• CECL: How P&C companies are preparing for FASB's new Credit Loss Standard
• Best practices in calculating and disclosing liabilities on long and short duration insurance contracts
• What actuarial systems will need to be in place? What data needs to be available?

Moderator: Linda Lankowski, Vice President and Actuary, Prudential Financial

Panelists:

Mark Aubin, Chief Innovation Officer, North America, Aptitude Software
Wanchin Chou, Chief Actuary, Connecticut Insurance Department
Jonathan Rodgers, Director of Financial and Tax Policy, NAMIC

REGULATORY SPOTLIGHT: NAIC update on the Life Actuarial Task Force

• VM-21 and requirements for principle-based reserves for both variable and income annuities
• The Valuation Manual: what stage is it at and how will it help insurers?
• Development of VM-22: how is the modernizing the standard valuation interest rate for all non-variable annuities
• How will this impact the use of formula reserves versus model reserves?
• How will the proposed longevity capital charge affect how risk-based capital is calculated?

Speaker: Brian Bayerle, Senior Actuary, American Council of Life Insurers

REGULATORY SPOTLIGHT: ORSA update – the practitioner perspective

With ORSA nearing its 4th birthday in the US, nearly 1000 ORSA reports have been filed. Updating the ORSA has become routine at many insurers but there is still more to be understood.

• What kind of questions have regulators and boards been asking about ORSAs?
• How will new professional standards of practice impact ORSA?
• What do actuarial and ERM teams need to know?

Speaker: Dave Ingram, Executive Vice President and Head of ERM Advisory, Willis Re North America

REGULATORY SPOTLIGHT: International and group capital standards

• Major takeaways from the NAIC group capital field testing
• What next for the International Association of Insurance Supervisors' international capital standard?
• Potential interactions with the Federal Reserve's BBA approach for insurers with banking subsidiaries

Speaker: Mary Frances Monroe, Senior Advisor and Insurance Lead, Regulatory Affairs Department, Institute of International Finance

CLOSING INTERACTIVE SESSION: ERM fireside chat and open audience discussion

A selection of risk and actuarial professionals will sit together to talk with the audience and answer questions the build on the issues that have been covered throughout the day, the challenges unique to their job functions and where these overlap in terms of cross divisional ERM conversations and actuarial processes

Moderator: Christopher Cundy, Managing Editor, InsuranceERM

Panelists:

Turab Hussain, Chief Risk and Actuarial Officer, PartnerRe
Dave Ingram, Executive Vice President and Head of ERM Advisory, Willis Re North America
Rich Lauria, Associate Academic Director, ERM program of the School of Professional Studies, Columbia University, formerly SVP and Chief Corporate Actuary, Assurant
William Wilkins, Chief Risk and Data Analytics Officer, Safety National

Close of conference and networking drinks reception