14 - 16 Nov 2016 in Prague
EAA Forum: Business Simulation Game on Risk and Capital Management under Solvency II
The economic view on a company has become more and more important over the last couple of years. Many job opportunities arose for actuaries with the increasing need for economic valuation of assets and liabilities and value-based management. Executives use the concept of economic capital to enhance the management of their company.
With Solvency II in place since 1 January 2016, a large and detailed regulatory framework has been laid out. This opens new risks and opportunities to insurance companies, which decision makers need to be aware of.
Together with TATA Interactive Systems, the European Actuarial Academy offers a Solvency II Business Simulation Game. For two days, you will take the challenging role of an executive board, managing an insurance company under the new Solvency II regime. By participating in this business simulation, you will get the chance to work in international teams, develop your own strategies and directly experience the effects of Solvency II on insurance markets. Through the Solvency II Business Simulation Game, you will learn how to succeed in Europe’s challenging insurance markets by understanding the impacts of risk and capital management under Solvency II.
Organised by the EAA - European Actuarial Academy GmbH.
The EAA Forum is suited for all actuaries, actuarial trainees, risk-managers and all professionals who work on economic valuation or within further Solvency II tasks.
Participants should have a basic understanding of the Solvency II framework, a basic introduction to economic valuation and economic capital will be presented at the EAA Forum.
Before the EAA Forum, all participants will receive a manual for pre-reading on the Solvency II Business Simulation Game from TATA Interactive Systems. Tablets will be provided for each team onsite (from day two on). You may want to bring your own laptop in addition for some calculations, but it is not mandatory for following this seminar.
Purpose and Nature
The EAA Forum will start with a brief but detailed introduction to economic capital and economic valuation under Solvency II.
After that an introduction to the business simulation will be given. Groups of up to five Board Members will then run their own company with decisions on strategy and operations to be taken on a yearly basis. After each year of simulation a detailed analysis of the companies’ performance and the effects of Solvency II on risk and capital management will be conducted by the instructors. Finally, after four simulated business years, a look back will decide which company took the most successful strategy!
Dominik MaierDominik Maier is Principal Consultant and Head of Corporate Business at TATA Interactive Systems (TIS). As Principal he has been responsible for the acquisition, conception and implementation of various global strategy and business training concepts (including management simulations) for multiple industries worldwide. Dominik Maier has also led the conception and implementation of the world’s first Solvency II business simulation in which more than 2,000 actuaries and board members around the world have already participated in. Being with TIS since 2004, Dominik has globally facilitated more than 200 management and leadership sessions and he has been working with companies such as Allianz, BASF, Daimler, Deutsche Leasing, Deutsche Postbank, E.ON, Groupama, Hewlett Packard, Infineon, Maersk, Merck, PartnerRe, SAP, Volkswagen and SwissRe. Dominik Maier lectures International Strategic Management, Accounting, Controlling and Finance as well as Value Based Management at renowned universities in Europe and for the public sector.
Jochen WolfSince 2005, Jochen Wolf has been Professor for Mathematics and Economics at the Hochschule Koblenz. Before that he worked for several years at the German financial supervisor BaFin where he was responsible for various aspects of insurance supervision. At Bafin he was also involved in the Solvency II project. Prior to joining BaFin, Prof. Wolf held various research positions in stochastic analysis at Universität Jena and at the Université Paris-Nord. He holds a diploma in mathematics from the Universität Mainz and a doctorate in mathematics (focus probability) from the Universität Jena. Professor Wolf is actively involved in the actuarial education at the German actuarial association (DAV).
Venue & Accommodation
The seminar will take place at the hotel
andel’s by Vienna House PragueStroupežnického 21150 00 Prague 5, Czech RepublicPhone: +420 296 882 700www.andelshotel.com
We have arranged special prices for accommodation. The special rate is 75 € per night including breakfast and VAT. It is valid for bookings by 28 October 2016 out of our allotment “EAA Seminar”. Our allotment includes a limited number of rooms. Kindly book your accommodation directly with the hotel using this booking form, and note the hotel’s cancellation policy.