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.

Therefore, the European Actuarial Academy offers the world’s first Solvency II Business Simulation Game. The course, led by executive coach Dominik Maier, will be based on an interactive management simulation. 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 in cooperation with the Österreichische Förderungsgesellschaft der Versicherungsmathematik (ÖFdV) 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, economic valuation and economic capital.

Before the EAA Forum all participants will receive a manual for pre-reading on the Solvency II Business Simulation Game. Tablets will be provided for each team onsite. You may want to bring your own laptop in addition for some calculations, but it is not mandatory for following this seminar.

The EAA Forum will start with an introduction to the business simulation. 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 and discussion 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!

The language of the seminar will be English.

Tobias Thomas