Working with Actuaries 2.0 (There are two recorded webinars)
Part I: GAP Analysis: An IBNR-Free View of Why Underwriters and Actuaries Often Differ on Large Account Loss Projections
Part II: …But That Doesn’t Mean People are Shrinking: Actuarial Large Account Loss Projection Concepts Made Easy
PRESENTED ON: June 25, 2014 Part I (44-minutes) Part II (32 minutes)
Part I: "GAP Analysis: An IBNR-Free View of Why Underwriters and Actuaries Often Differ on Large Account Loss Projections" You know that if actuaries didn’t know what they’re doing, insurance companies wouldn’t hire them to do it. So if insurers get them involved with large account pricing support, you know that they must have something positive to offer. But how can that be, when their view of your accounts’ losses usually seems too high – even on property coverages, where “IBNR” is frequently a non-issue? How can you incorporate their thoughts into your pricing, when there’s such an unexplained gap? What are you missing? And what are they missing?
No, your loss estimates aren’t crazy. But neither are theirs. The real problem is that insurance is just not “normal." Please join us on June 25th at 2:00 pm (EST) as Steve Finkelstein, ACAS, MAAA and member of the AIMU Facts & Figures Committee (and Ralph) will use analogies, examples, explanations – and even a compass – to help you bridge this gap. More conceptual than technical, this presentation was designed for people who want to understand the nature of the difference between how underwriters and actuaries look at losses, so they can consider how best to integrate actuarial loss projections into their work, making the most of the actuarial resources being provided to them. It will show you what you’re missing, and help you show your actuaries what they’re missing. So if you don’t view this webinar, you may never know what you’re missing!
PART II: "…But That Doesn’t Mean People are Shrinking: Actuarial Large Account Loss Projection Concepts Made Easy" A sequel of sorts to their “GAP Analysis” presentation, Steve Finkelstein and Ralph will use analogies and examples to explain concepts that actuaries use to derive loss projections in support of large account pricing efforts. Worried that this will be too technical for you? Don’t be. You don’t need to be an actuary to understand conceptually how actuaries derive loss projections any more than you need to be a cook to understand conceptually how to eat!
Steven Finkelstein | 2VP & Actuary | Ocean Marine
Underwriters, agents, brokers, and other insurance professionals with an interest in better understanding the described contract details should attend this webinar.