Charting the Future
with Reserving Insights
Discover the latest in pricing, reserving and critical current topics —all in one exclusive event.
Discover the latest in pricing, reserving and critical current topics —all in one exclusive event.
Dive into over 50 sessions led by 60 industry experts, spanning nine distinct topic areas, each designed to empower your professional growth and innovation. Gain unparalleled insights and practical knowledge to advance your career. To learn more about our sessions and speakers, visit our schedule page.
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.
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.
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.
The opinions expressed by speakers at this event are their own and do not necessarily reflect the opinions of the CAS.
Speakers at the 2024 CLRS will share their experience and expertise in the following topics:
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.
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.
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.
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.
Explore how Insurtech and artificial intelligence are revolutionizing the insurance landscape. Understand the latest in AI-driven risk assessment, customer service, and policy customization.
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.
The CAS Capability Model is a visual framework that articulates and provides guidance on the traits, skills and knowledge important for most property/casualty actuaries.
Immerse yourself in a community of innovative knowledge and industry leadership. CLRS is your gateway to the latest trends and innovations in affordability and availability of reserving. Here, we're dedicated to these topics like no other event in the U.S., making it a one-of-a-kind opportunity.
Invest in your professional growth and earn up to 18.3 Continuing Education credits, offering you a tangible return on your investment. Dive deep into the intricacies of the reserving game and stay ahead of the curve.
Attendees will have ample networking opportunities to renew and expand their list of industry contacts, and exhibitors will be on hand to demonstrate their relevant services and knowledge.
Volunteer Chairperson
Volunteer Vice-Chairperson
ARM, Volunteer Vice-Chairperson
CAS Staff Chair
CAS Staff Chair
AAA Staff Chair
AAA Staff Chair
AAA Staff Chair