6 - 10 Sep 2021
actuteam Championship: Business Simulation for the Insurance Industry
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.
That is where the first actuteam Championship starts – an insurance simulation game especially designed for actuaries and specialists in insurance and finance that covers various aspects of risk and capital management in a volatile business environment. To give participants a holistic view of their companies, this virtual programme focuses on both sides of the balance sheet.
Risk needs to either be mitigated or supported by capital. All risk management solutions have a cost. As a participant, you need to have a clear method of assessing the costs and benefits of each possible risk management approach and choose the combination that best meets your objectives.
Five teams each with five members from all over the world will compete against each other to win the game and to have the right to call themselves 2021 actuteam Champion. Players can join via the participating actuteam partners. For this pilot the EAA – European Actuarial Academy is one of these partners offering you the unique possibility to attend.
The challenge is based on the world’s leading business simulation game for the industry developed by the Swiss Re Institute.
actuteam is a new international business game challenge for actuaries offered by partners of the streaming platform www.actuview.com in cooperation with the Swiss Re Institute.
The actuteam Championship is suitable for all actuaries, actuarial trainees, risk-managers and other professionals who work on economic valuation or other Solvency II tasks.
Participants should have a basic understanding of economic valuation, economic capital, and the Solvency II framework. Seats are limited to allow for active exchange amongst participants.
Prior to the event, the participants will have access to all pre-readings and other relevant preparation materials for the Insurance Management Simulation.
The challenge will be held completely online supported by professional trainers using an online simulation platform and with the conferencing systems Adobe Connect and Zoom for interaction. Please check with your IT department if your firewall and computer settings support web session participation. Please also make sure that you are joining the web session with a stable internet connection.
On 30 and 31 August 2021, 09:00-09:45 CEST, there will be a technical onboarding. It is mandatory that you join one of these two test sessions.
Purpose and Nature
During the five days, the teams will take on the challenging role of an executive board, managing a small to medium-sized P&C insurer under the existing Solvency II regime. Decisions on strategy and operations need to be taken on a yearly basis. After each year of simulation a detailed analysis and discussion of the company‘s performance and the effects of Solvency II on risk and capital management will be conducted. Finally, after four simulated business years, a review will decide which company had the most successful strategy and will thus be crowned the actuteam Champion 2021.
Course learning goals (after attending all sessions):
The Insurance Management Simulation will be led by experienced trainers from the Swiss Re Institute.