Casualty Actuarial Society

2014 Centennial Celebration and Annual Meeting

C-41
Using Open Source and Open Platforms to Build Your Company’s Own View of Catastrophe Risk

Monday, November 10, 2014: 10:30 a.m.
Madison (New York Hilton Midtown)
It’s no longer sufficient to rely solely on external third party models for managing catastrophe risk—Boards, CEOs, regulators and rating agencies require companies to take ownership of the risk and to develop their internal views of large loss potential.  New, open loss modeling platforms now enable insurers and reinsurers to build their own proprietary views of risk more efficiently and scientifically than with the traditional vendor models.   Open platforms are fully transparent and enable users to directly access and customize the model assumptions.  This session will demonstrate through live, interactive examples:
  • How open source and open loss modeling platforms work
  • How actuaries can customize damage functions using detailed claims data
  • How actuaries can adjust hurricane assumptions to reflect a near term view and the potential impacts of climate change
  • How to conduct sensitivity analyses of earthquake parameters and risk
  • How to use an open platform to estimate convective storm losses

The audience will be encouraged to make comments and ask questions throughout the demonstrations to maximize the educational impact of this session.

Moderator: Karen Clark, President & CEO, Karen Clark & Company

Speakers

Presentation 1
Roger Grenier, Director, Catastrophe Research and Development, Liberty Mutual Group
Handouts
  • RogerGrenier_CAS_Nov2104.pdf (3.9 MB)
  • Presentation 2
    Karen Clark, President & CEO, Karen Clark & Company
    Handouts
  • KarenClark_CAS_Nov2014.pdf (4.6 MB)
  • Presentation 3
    David S. Futterleib, Senior Actuary, The Travelers Companies, Inc.
    Handouts
  • DaveFutterleib_CAS_Nov2014.pdf (2.0 MB)
  • See more of: Conference Program