Organised by the EAA- European Actuarial Academy GmbH in cooperation with the Österreichische Förderungsgesellschaft der Versicherungsmathematik GmbH (ÖFdV GmbH).

The foundations of actuarial modelling have been laid many years ago. However, in the past couple of years, the expectations upon the speed, the quality and the reliability of actuarial reporting have skyrocketed in the context of financial crisis and regulatory innovation such as MCEV, SST or Solvency II. Hence, legacy processes will not be good enough – but how to design a reliable and cost-effective modelling framework?

This seminar has been designed for various stakeholders of actuarial reporting, e.g. professionals responsible for modelling, reporting, risk management, business development and – last but not least – IT landscape for all of the above.

In this seminar, we discuss current actuarial reporting challenges and how to overcome them. Via breakout session brainstorming or case study reports, we discuss what can be done, what has been already done and how it has been done – no dry theories.

In particular, we examine practical solutions to the following challenges:
- How to automatically generate and validate model points
- How to make several modellers work in parallel and cooperate effectively
- How to implement Daily Solvency Monitoring.

Patricia L. Renzi is a Principal at Milliman. In her role as Global Leader of the firm’s actuarial software practice, Pat is responsible for the oversight of financial modelling products and services. In particular, she has successfully led a multi-year project to industrialise all actuarial reporting processes of a large UK life insurer. In the seminar, Pat is going to share her practical experience of industrialisation with the participants in a case study format.

Bruce Keenan is a Senior Consultant at Milliman. Bruce has 20 years of consulting experience in  various markets, such as UK, US or Japan. He is an expert on risk modelling, helping his Clients meet the ever-increasing regulatory requirements such as Solvency II. He has played a pivotal role in industrialization of actuarial reporting of a large UK insurer.

Dr Michael Leitschkis is a Principal at Milliman. Michael has been dealing with various topics of risk modelling and risk management for about 10 years in the context of MCEV, Solvency II etc. He has been helping his Client with transformation of their models from old-school deterministic desktop applications to modern industrial-strength Solvency II solutions.