Conference Begins September 9 , 2024

Charting the Future
with Reserving Insights

Discover the latest in pricing, reserving and critical current topics —all in one exclusive event.

Monday’s Workshops

CLRS will offer three optional full and half-day workshops on Monday, September 9. Separate registration is required for the workshops. All times are in Pacific Time.

Monday, September 9 8:00 AM – 4:00 PM PT

This workshop will focus on the use of Actuarial Case Reserves to solve many of the problems with triangle development, such as changes in mix, settlement rate, and case adequacy. By using predictive modeling techniques to develop objective algorithms for these reserves, reserving triangles can be re-built to be much more reliable and transparent (think Berquist-Sherman, but with a scalpel instead of a chainsaw).

While the approach makes use of individual claim development models, framing the results back into triangles demonstrates the resulting algorithm’s effectiveness and stability. Benefits of using these algorithmic reserves extend not only to creating estimates of total reserve need but also to actuarial pricing work as well.

While the focus of this half-day workshop will be on the creation and use of Actuarial Case Reserves, we will also discuss the concept of Policy-Level IBNR reserves as an additional triangle layer, reflecting estimated not-yet-reported claims.

No prior predictive modeling experience is necessary, but there will be two hours of pre-work to maximize the effectiveness of time spent during the workshop itself. Users will be provided access to temporary Azure workstations for a week prior to the workshop until a week after the workshop so that they can continue to explore these concepts with the sample data and tools provided.

In-Person Registration

Monday, September 9 8:00 AM – 4:00 PM PT

The workshop will consist of two case studies. The morning portion of the workshop will cover building a simple Bayesian MCMC reserve model using the brms macro writer to build STAN models and demonstrate how to check model results using tidybayes and tidyverse packages. A simple model means that there is no systematic change in loss cost trends, underwriting, or claims operations within the company.

The afternoon session will walk through a case study applying those tools to a reserve model in a more complex and realistic environment where there are potential systematic changes in loss cost trends as well as changes in underwriting and claims operations.

In-Person Registration

Monday, September 9 12:30 – 4:00 PM PT

Understanding reserve variability has become an important skill for the practicing actuary. Moving from point estimates and deterministic ranges to distributions of possible outcomes is one of the critical quantitative building blocks for effective Enterprise Risk Management. Insurance executives, regulators, risk managers and rating agencies are all raising the bar for the actuarial profession with respect to discussing and disclosing insurance risk calculations.

Based on material from the Reserve Variability Limited Attendance Seminar, this mini workshop will cover two commonly used models for reserve variability: Mack and ODP Bootstrap. The instructors will present both the background to the models and how to implement them using hands-on exercises.

The workshop will introduce the Mack model and the ODP bootstrap model. Participants will receive Excel files prior to the session and are expected to bring their laptop to the sessions in order to complete the exercises.

In-Person Registration

 

More Information

The opinions expressed by speakers at this event are their own and do not necessarily reflect the opinions of the CAS.

Topics

Speakers at the 2024 CLRS will share their experience and expertise in the following topics:

Healthcare/Workers Comp/MPL

Navigate healthcare, workers' comp, and MPL insurance complexities. Explore large awards, litigation funding, senior care, COVID-19 lags, California workers' comp, and MPL market trends.

Advanced Reserving

Dive into advanced reserving techniques and innovations. Topics include correlations, extended service contracts, tail factor estimation, machine learning, Schedule P data, claims changes, global research, and automation's human side.

Line of Business

Gain specialized knowledge across various lines of business within the insurance industry. Understand the unique challenges and opportunities in areas like auto, homeowners, and commercial insurance.

Financial Reporting

Explore financial reporting in P&C insurance. Sessions cover risk transfer, reserve ranges, loss expense reserving, IFRS 17, best practices for actuarial opinions, IRS issues, and expert panel discussions.

Insurtech/AI

Explore how Insurtech and artificial intelligence are revolutionizing the insurance landscape. Understand the latest in AI-driven risk assessment, customer service, and policy customization.

Special Topics

Stay ahead with cutting-edge P&C insights. Sessions include GLMs for reserving, social inflation, modernizing reserving, entry-level actuarial trends, confirmation bias, litigation funding, and data visualization.

2024 CLRS Working Group

Chairs

Laura A. Maxwell, FCAS, MAAA, CSPA

Volunteer Chairperson

Chandrakant C. Patel, FCAS, MAAA

Volunteer Vice-Chairperson

Gregory W. Fears, Jr., FCAS, MAAA

ARM, Volunteer Vice-Chairperson

Kathleen Dean

CAS Staff Chair

Kellee Jenkins

CAS Staff Chair

Lori Feinman

AAA Staff Chair

Richard Gibson, FCAS

AAA Staff Chair

David Nolan

AAA Staff Chair

Working Group Members

Xiaohua (Jerry) Cheng, FCAS
Robin Davis, ACAS
Paige DeMeter, FCAS
Kevin Donnelly, FCAS, FSA
Luna Gu, FCAS, CERA, FSA, MAAA
Lise Hasegawa, ACAS
Stuart Hayes, FCAS
Christopher Holt, ACAS
Debbie King, FCAS
Thomas Kolde, FCAS
Michael R. Larsen, FCAS
Zora Law, FCAS
Darci Noonan, FCAS, CPCU, ARM, MAAA
G. Chris Nyce, FCAS
Anwesha Prabhu, ACAS
Ricardo Ramotar, FCAS
Christine Ross, FCAS
Christopher Schubert, FCAS, MAAA
Gurinder (Gary) Singh Sekhon, ACAS
John Wade, ACAS
Jingtao (Ethel) Wang, FCAS
Amanda Weihe, FCAS, CSPA
Ken Williams, FCAS, MAAA
Ashley Wohler, FCAS
Lin Xing, FCAS
Yi-Chuang (Sylvia) Yang, FCAS
Annie Ye, FCAS
Robert Zehr, FCAS