Description: This case study is intended to educate insurance professionals on historical insurer impairments and insolvencies and possible future prevention indicators.

Description: Today's actuarial teams dedicate substantial time and resources to maintain strong frameworks for risk management and control. Current practices typically endure this as a sunken cost, yielding minimal value beyond SOX/MAR/COSO compliance and basic error prevention. With a small up-front time investment, and a willingness to approach these activities with an open mind, the functionality of existing compliance activities can be completely transformed. Compliance activities, once a sunken time cost, can be elevated to deliver more insightful analysis to stakeholders.

Description: Baseline and what-if/stressed projections of cash flows, financial statements and capital requirements are critical inputs to a range of business purposes, including forecasts, risk management, liquidity management, strategic decision making, etc. Forward looking projections have historically been inefficient and performed in silos making it difficult to scale the process as CFOs and CROs ask for more. In this session we discuss challenges of the forecast process and opportunities to meet desired future capabilities. We will also discuss “what-if” analysis and ways to support production of forward looking projections for “what-if” analysis in an efficient way.

Description: Recently there have been several studies on the dividend payments prior to ruin in various risk models. By employing some new obtained results in the actuarial literature, this presentation analyzes the distribution of the total dividend payments in a risk model with multi-threshold dividend strategy, where the claim arrivals are modeled by a Markovian arrival process [MAP]. A piecewise integro-differential equation in matrix form is derived and solved analytically for the moments of present value of the total dividends prior to ruin. The presentation also discusses the differences between its method and other existing ones. An example with exponentially distributed claim amounts is illustrated numerically.

Description: This paper suggests that Asian financial institution openly exhibit problems and attitudes that in other regions may be buried under the surface. Therefore, becoming familiar with Asian instituions can help risk professionals unearth problems that otherwise might remain hidden in our own territoriies. From 2007 Enterprise Risk Management Symposium, M-AS07-1.

Description: Enterprise risk management ERM is for the measurement and the management of all significant risks of the business holistically irrespective of types and sources. The study offers significant advances in the current debate on the performance of enterprise risk management, in particular, minimizing the existing gap between the academic understanding and practitioners’ experience on the topic.

Description: Applications of Stress Testing

Description: There are many factors involved with managing the financial condition of an insurance company and the factors usually fall into on of three categories: earnings management, capital management and risk management. Transfer pricing involves assigning a price for the use of funds that are transferred within the company.

Description: The mismatch between how interest rate impacts the value of assets and liabilities could have material negative impact to companies’ earnings and surplus. To quantify and mitigate the impact of such mismatches, companies have used matching a combination of duration and convexity. I will review these measurement techniques and their limitations.

Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).