The goal of the workshop is to teach the participants the impact of the various levers an insurer can pull to manage its capital position and in turn manage its balance sheet towards the requirements of the different viewpoints an insurer has, i.e. IFRS17, Solvency II, Local GAAP and of course an economic asset view.

We will start the day by introducing the concept of strategic balance sheet management. Set goals and ambitions to optimize the key performance indicators to which insurance companies manage themselves. We will demonstrate how you can replicate the balance sheet of an insurer in a platform designed to do this. We will then show you tools you can use to alter the capital position of the insurer.
From here we will move onto exercises. We are going to make the game real and create smaller groups. Each group has its own insurer inside its own environment. Each group will be set goals, to manage towards certain KPI’s. They get their time to confer with their colleagues and present their findings.

The ultimate goal is to demonstrate how the activity of one group can differ. We will illuminate how the activity of departments in isolation can influence the balance sheet of the wider insurer and by extension other departments.

The target groups of this business game are all individuals interested in the mentioned topics.

Technical Requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom will be used for this online training). Please also make sure to join the web session with a stable internet connection.

The purpose and nature of this course is to ensure participants get a holistic view of capital management. Often teams within insurers work in isolation, passing cash flow projections to other teams who in term act with their own goals. Our view, however, is that all these activities are interconnected and through the approach of strategic balance sheet management we’ll deliver tangible methodology enabling the participant to quantify/visualise the impact of their actions on the insurance company as a whole.

The language of the web session will be English.

Marcel Smith
Marcel Smith is a principal consultant and one of the founding partners of MavenBlue. He holds a PhD in econometrics and is a certified FRM from GARP. Marcel has over 20 years of experience in the insurance industry and is an expert in financial risk management, asset liability management, investment management, product development, operations research, quantitative modelling and parallel computing.

Oscar Dries
Oscar Dries is a principal consultant at MavenBlue. Oscar’s area of expertise is financial risk management. He has more than 25 years of experience in the insurance industry. During his career he had different positions within a.s.r. and her predecessors (Stad Rotterdam, AMEV, Fortis ASR), including Head of ALM, Head of FRM (Financial Risk Management, second line) and Head of FRMM (Financial Risk Management and Modelling). He has a Master of Science degree in Econometrics at the Erasmus University in Rotterdam, and finished the postdoctoral study for Investment Analyst (RBA).