101 NAIC Reporting Update
Session Leader
|
Chris Anderson, Baker Tilly Virchow Krause
|
Panel Members
Be the most knowledgeable in your company on NAIC Reporting! The NAIC will be here to provide the most up-to-date changes to statement reporting including blanks and instructional changes. In addition, this session will provide the latest information on investment reporting, risk-based capital, SMI as well as updates on other NAIC activity and related hot topics.
Objectives:- Attendees will be able to describe what reporting changes affect their company
- Attendees will be able to complete new investment reporting requirements
- Attendees will be able to describe how risk-based capital changes or other related topics affect their company.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
102 Financial Reporting Systems-Does it meet Management needs - Information Instantaneously
Session Leader
|
Richard Habstritt, Midwest Family Mutual Insurance Company
|
Panel Members
The Corporate world today demands that management have Financial information on a Real time basis and information is needed instantaneously. The challenge is how we use current systems more effectively and efficiently. Our Financial Reporting Systems have many different moving parts such as traditional financial statement and budgets, Quarterly and Annual Statement software, Investment software, and other third party software. How do we integrate all these moving parts to work efficiency?
The Challenges also must include the demand of the regulatory agencies such NAIC, State, A.M. Best to name a few. Also moving your organization with Enterprise Risk Model in mind.
We expect that Attendees will leave the session with the skills required to be successful in performing process improvement work. This Session will provide helpful tips for both you and your staff.
Objectives:- Attendees will learn how to improve the productivity of current Financial Reporting system
- Attendees will be able to marry the best practices, process, and technology to meet management needs
- Attendees will be able to quantify the needs of management
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
103 Risk Focused Exam
Session Leader
|
Paul Jaouen, AEGIS Insurance Services, Inc.
|
Panel Members
|
Kevin Sullivan, EisnerAmper LLP
|
As regulators work to refine the risk focused examination methodology, insurers can take a proactive approach to discussing risks and mitigation programs with examiners. Properly executed Sox or model audit rule internal control over financial reporting activities can be used by examiners to lower the assessed level of risk. The better the company is able to identify and articulate it's risks, the more reliance the examiners can place on the risk mitigation strategies employed by company management.
Objectives:- Provide insight into regular examination requirements.
- Explain how to leverage company ERM programs to address examination risk assessments.
- Discuss how to respond to Insurance Department questionnaires and executive interviews.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
104 Impairments - Accounting Overview
Session Leader
|
John Vercellino, SunGard iWorks LLC
|
Panel Members
|
Dennis Lebar, SunGard iWorks LLC
|
|
Maria Bifulco, Prudential Insurance Company
|
In response to the confusion and concerns regarding writing down impaired securities and recognizing losses on those securities, FASB issued guidelines on when and how to recognize other-than-temporary impairments (OTTI). The rules significantly change the recognition and accounting for OTTI securities. This session will explore the GAAP and STAT accounting rules for OTTI. Learn how insurance companies and system vendors are dealing with these issues and benefit from the experience of others who are wrestling with these complex rules.
Objectives:- Attendees will be able to evaluate securities for potential impairment.
- Attendees will be able to account for securities that have been impaired based on the new accounting rules.
- Attendees will be able to quantify how impaired securities will affect the financials of their organization
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
105 Corporate Governance: Regulatory Interest
Session Leader
Panel Members
|
Randi Reichel, Mitchell Williams Law Firm
|
|
Keith Bell, The Travelers Companies, Inc.
|
The most recent financial crisis has led to discussions by insurance regulators and international supervisors on the importance of corporate government. Although the review of corporate governance has increased significantly in the US insurance regulatory environment, certain areas have been identified as weaknesses both within a regulated entity and within the regulatory review process. The NAIC has been conducting research, with the help of the insurance industry, to identify current gaps. Areas of concern include specific suitability criteria for key persons, additional requirements or guidance for insurers related to good corporate governance practices and requirements for insurers in maintaining an internal audit function.
This session will provide an overview of NAIC and regulatory activity in the area of corporate governance, identify current corporate governance projects, and discuss possible solutions the NAIC is considering to address regulatory gaps.
Objectives:- Attendees will be able to identify regulatory concerns with corporate governance.
- Attendees will be able to discuss actions the NAIC may take to eliminate current corporate governance regulatory gaps.
- Attendees will be able to evaluate how new regulatory requirements may affect their company.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
106 Status of IASB and FASB Convergence
Session Leader
|
Michael Monahan, American Council of Life Insurers
|
Panel Members
|
Michael Monahan, American Council of Life Insurers
|
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are working on a number of joint projects designed to improve both US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS), and ultimately make the standards fully compatible.
Through these projects — some covering major components of the financial statements — the boards intend to improve financial reporting information for investors while also aligning US and international accounting standards. These projects are a significant move toward achieving a common accounting framework, a necessary step in the globalization of business and investment.
Objectives:- Answer where are we on the status of IASB and FASB Convergence.
- The effects these projects have are not just accounting related.
- Many of the standards may have significant business and operational implications and may require significant lead time to analyze and implement.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
107 P&C Tax Update
Session Leader
Panel Members
This session will review current developments in federal income tax and state premium, retaliatory and income taxes, including legislation and litigation that may impact the P&C insurance industry. The panelists will also address potential planning and refund opportunities.
Objectives:- Attendees will be able to evaluate the impact of recent legislation and litigation on their companies.
- Attendees will be able to summarize current tax developments for P&C insurance companies.
- Attendees will be able to evaluate planning opportunities for their companies.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
108 Reinsurance 101: The Basics of Reinsurance
Session Leader
|
Timothy Corley, InPoint, an AON Company
|
Panel Members
|
Connie Jasper Woodroof, StoneRiver, Inc.
|
|
Dan Gibson, Prime One Insurance Company
|
The importance of reinsurance to the insurance industry cannot be overstated. Because of its significant impact on a company’s success, the ability to establish, manage and evaluate reinsurance programs is crucial. However, how to do so is not something that is readily apparent, especially to those new to the insurance field.
Attend this informative session to learn how to use reinsurance to support your company’s programs. The session includes an introduction to the construction of primary reinsurance programs and a high level overview of the effect of reinsurance on a company’s financial statements. Additionally, hear from an insurance company on how they use reinsurance as part of a company’s operation.
Objectives:- Attendees will be able to describe how reinsurance influences their financial statements.
- Attendees will be able to evaluate the need for effective reinsurance programs.
- Attendees will be able to differentiate between different types of reinsurance contracts.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
121 When Generations and Cultures Meet -Lessons Learned
Session Leader
Panel Members
|
Jim Keal, Argent
|
|
Mary Freyermuth, Catholic Mutual
|
|
Anil Chacko, First Rehab Life
|
|
Don Goodenow, StoneRiver
|
Working well with others is crucial to everything we do in business. This means working with individuals who come from a different time, and often from a different place. Today’s workforce includes not only a number of generations, but a number of different countries. How the individuals from these different worlds come together as a workforce will determine their individual success and that of your organization.
Panel members will discuss how they view today’s workplace and the challenges they face when working with people whose approach to work is colored by a different age and culture. Participants will cover how they came to understand and overcome these differences. In addition, the panel will take questions from the audience.
Objectives:- Attendees will understand some of the basic differences in how culture affects an individual’s approach to work
- Attendees will understand the differences in the approach different generations take to work and life
- Attendees will be able to understand the most effective ways to engage the different generations and cultures
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
221 Constant Change: The New Normal
Session Leader
|
Rod Travers, Robert E. Nolan Company
|
Panel Members
|
Craig Loughrige, Robert E. Nolan Company
|
In this age of "new normal" where change is the constant, this session provides practical change management principles and techniques grounded by a strong conceptual framework. The session includes guidelines for applying the framework as well as a case study of an actual project. Attend this session to hear the skills and tactics company managers and leaders are using to anticipate change, and to help their companies adapt to remain competitive, while staying true to company values and to employees.
Objectives:- Attendees will be able to avoid pitfalls to ensure success.
- Attendees will be able to define why change management is important in today’s dynamic business climate.
- Attendees will be able to describe how change management principles are applied.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
271 Automate Excess and Surplus: Automate Anything! From Underwriting to Servicing
Session Leader
Panel Members
|
Cliff Beckwith, CATLIN
|
|
Lee Lloyd, Crump Insurance
|
|
Thad DeBerry, Western World Insurance Group
|
|
Tim Attia, SeaPass Solutions
|
As insurers continue to look for new ways and technologies to automate the insurance process, no line of business tests their limits as much as Excess and Surplus (E&S). And, if you can automate E&S, you can automate almost anything. Attend this session to learn how the E&S process was streamlined and automated from agent to wholesaler to carrier through the use of agent portals, access to markets, and advanced collaboration and workflow. Hear how agents are able to efficiently and automatically communicate with wholesaler and carriers to deliver bindable E&S quotes in minutes. An industry analyst will also share their view on the challenge facing insurers as they look to expand automation capabilities beyond the back office and standard lines. Whether looking to automate E&S or less complex lines of business, attendees are sure to benefit from those who’ve successfully automated what was seemingly impossible.
Objectives:- To understand how E&S lines underwriting, quote, and issue automation is accomplished and the benefits of automation.
- To understand how automation of specialty lines differs from standard lines.
- The lessons and challenges that are presented with automation of E&S and how to overcome them.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
272 It's About Control: Balancing Risk and Investment for RIM and e-Discovery
Session Leader
|
Mark Diamond, Contoural, Inc
|
Panel Members
|
Mark Diamond, Contoural, Inc
|
At this seminar independent expert Mark Diamond will discuss best practices for controlling e-mail, files, and social media to become compliant and ready for eDiscovery. Learn what are the best policies for retaining e-mail and electronically stored information; how to prepare for and quickly respond to litigation; how do you benchmark against other carriers; how do you meet compliance requirements; and how to engage users and build a consensus on what to save across the organization. You will hear case studies that relate what works in this new environment, as well as pitfalls to avoid as well as ensuring compliance with policies
Objectives:- Learn what are the best policies for retaining e-mail and electronically stored information.
- Learn how to prepare for and quickly respond to litigation.
- Learn how do you meet compliance requirements and build consensus on what to save across the organization.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
273 Customer-Centric Claims Service Through Innovative Technology
Session Leader
|
Renata Bell, Cover-All Technologies
|
Panel Members
|
Karlyn Carnahan, Novarica
|
|
Alyssa Hostelley, Cover-All Technologies
|
|
Eric Rhoades, Co-operative Insurance Companies
|
|
Tony Triola, HelpPoint Claim Services by Farmers
|
|
Bob Khosropur, Mariposa Insurance Services
|
When policyholders file claims, they are not only looking to get paid, but to be handled in a customer-centric fashion. Let’s face it, customers want quick and fair resolutions to their claims. Insurance companies, the independent agents and the claims adjusters who represent them are the front lines of making that happen. Speed and accuracy are the keys to a satisfactory transaction, and much depends on the claims management system. A field adjuster, for example, who has access to his customers’ policies on a laptop or mobile device and can input claims information directly is preferable to an adjuster who has to write down information and return to the main office to input data or who hands the customer a sheaf of papers that need to be filled out before processing can continue. For today’s technologically-savvy customer, even something as simple as appearances can influence customer satisfaction. An adjuster who shows up with a laptop containing the customer’s policy and the ability to input all claims information will appear to be more “on the ball” than a representative who shows up with a briefcase or car full of file folders. Modern claims software helps meet those customer expectations, resulting in satisfactory claims experiences, which in turn result in happy customers. In today’s session, attendees will hear about customer service from the trenches as well as management’s view of setting up technology to ensure that company satisfaction is met.
Objectives:- Outline customer expectations with regards to claims management
- Evaluate internal ability to quickly and efficiently meet customer expectations
- Identify key must-haves for a customer-centric claims process
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
274 The Data Warehouse of the Future: Moving to the Cloud
Session Leader
|
Dan Mets, Agile Technologies, LLC
|
Panel Members
|
John Johansen, Agile Technologies, LLC
|
|
Beau Hall, Catlin
|
|
Stu Tainsky, PURE Insurance
|
We've all been at this long enough to know that the hype cycle of cloud services, and data in the cloud, is now trending back to Earth. We now can talk of cloud solutions in terms that only overstate their benefits by double. This session will look at warehousing in the cloud from the other side: Carriers that have evaluated cloud for their warehouses and decided to keep their traditional deployment strategies or maybe moved to hybrid approaches that allow the best of both worlds.
Objectives:
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
275 Agile Methodology: How to Execute, Govern and Succeed
Session Leader
Panel Members
|
Ken France, ATSC
|
|
Leslie Holden-Mikesell, ISCS
|
|
Mary Beth Klecan, Blue Cross and Blue Shield of Kansas, Inc.
|
|
Roger Walker, Cornerstone National Insurance Company
|
Insurers are adopting agile methodologies for IT projects and getting successful results. However, an agile approach, by definition, takes away many of the traditional tools to measure and monitor individual and project progress. An agile approach requires both individuals to change how they work with each other and organizations to change how they define goals, set priorities and measure results. The changes can be nerve-wracking for executive leadership and head-spinning for participants who are used to traditional corporate hierarchies, protocols, and top-down decision making. How do we manage these fundamental changes agile requires? This session first explores what happens on a team and project level using agile methodology, and then how corporate governance changes when you scale from a single agile team to a federation of agile teams. Topics include the role of executive leadership in an agile environment and what an “agile aware” PMO looks like.
Objectives:- Learn how traditional methods and measures are challenged by agile methodology
- Take away five intermediate-level ideas for agile team success and executive leadership
- Take away five intermediate-level ideas for corporate governance when using an agile approach
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
276 Mobile Technology In The Real World: Planning, Deploying, and Managing
Session Leader
|
Rod Travers, Robert E. Nolan Company
|
Panel Members
|
John Elcock, Unitrin Direct
|
|
Gerald Shields, Robert E. Nolan Company
|
|
Daniel Ellecamp, AAA NCNU Insurance Exchange
|
This session presents a framework and case examples for planning, deploying, and managing mobile technology in an insurance company. Mobile technologies are advancing faster than most carriers can keep up. Employees, customers, and agents are racing ahead of the typical carrier IT infrastructure as they adopt these technologies.
The response by many insurers has been piecemeal at best. Leading carriers have taken a strategic approach by adopting a mobile technology management framework — balancing market demands with costs, security, timing, and infrastructure realities.
The session will cover key techniques and capabilities a carrier can use to successfully implement and support mobile applications. After attending this session, audience members will be able to:
Objectives:- Describe a model for managing mobile technology
- Evaluate alternatives for deploying mobile functionality across disparate platforms
- Describe how other companies are managing mobile technology
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
301 FASB/AICPA Update
Session Leader
|
Margarete Chalker, Plante Moran PLLC
|
Panel Members
|
Terry Oljenik , Plante Moran PLLC
|
Update on GAAP and IFRS Convergence Developments for Insurance Companies.
Objectives:- This session is designed to provide a review of recent changes to GAAP accounting for insurance companies and the status of IFRS/GAAP convergence.
- Participants will gain a basic understanding of the nature of changes in GAAP accounting
- Participants will understand the significance of the changes in GAAP accounting as well as the convergence of IFRS and GAAP.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
302 Develop a Roadmap to Exploit Insurance Business Information
Session Leader
|
Paul Jaouen, AEGIS Insurance Services, Inc.
|
Panel Members
|
James Barber, Information Builders
|
|
Charlene Malonie, The Dominion of Canada General Insurance Company
|
Over time, insurers often have a number of individual efforts trying to turn data into business information. This session will explore a unique approach that helps the business pull together a clear overall vision for turning insurance data into a more profitable business. It will focus on an in depth case at The Dominion , and will round it with recent experiences from Michigan Farm Bureau, Physician’s Mutual and WalMart ($2B P&C captive insurer). This session will outline how to recognize the need for a roadmap, how to build a business focused roadmap, and the business results and competitive impacts of doing so.
Objectives:- differentiate between traditional technology focused projects and a business led roadmap
- list the business impact areas and assess impacts for your company
- execute your own roadmap
- move your whole company toward fact based decision making
- elevate internal discussions from operational to include strategic value
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
303 Cloud Computing
Session Leader
|
Chris Anderson, Baker Tilly Virchow Krause
|
Panel Members
There is a lot of buzz about cloud computing. Truth be told, for most of us it is now more confusing than
ever. This presentation will help clear the air and share some thought provoking ideas and questions
relating to services delivered in the cloud.
Key highlights include:
- Overview of the cloud landscape
- Businesses drivers behind the strength of the cloud
- The good and bad that come along with the cloud
- Demo on the ease of buying a cloud service
- The impact on business, IT professionals, and the internal audit profession
Objectives:- Insurance companies are consuming cloud services currently, and the trend will steadily increase.
- Insurance companies need to understand the risks and rewards associated with cloud services.
- Risk professionals need to understand the changes occurring and the impact on their audits, customers, and the services they provide.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
304 Investment Policies: Development and Monitoring
Session Leader
|
Robert Firoz, Nippon Life
|
Panel Members
Investment policies have been under scrutiny the last few years. This course will provide guidance on developing and maintaining policies that can execute the company's objective and yet be flexible enough to ensure that the guidelines consider changes in company practices and market changes.
Objectives:- Development and responsibilities of investment policies
- How to effectively monitor company policies
- Review recent developments and industry practices
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
305 Are Group Capital Requirements a Part of the Regulatory Future?
Session Leader
Panel Members
|
Milum Livesay, Genworth Financial
|
|
Keith Bell, The Travelers Companies, Inc.
|
Capital requirements in the US have been risk-based for more than a decade, relying upon developed risk-based capital (RBC) formulas to determine appropriate capital amounts for individual insurers. As part of the overall Solvency Modernization Initiative (SMI), regulators are taking a taking a closer look at capital requirements including the concept of group capital levels. It is felt that group capital requirements could be used to assess the financial stability of a group (and companies within a group) and could be used as a tool to disclose the capital sufficiency of the group to potentially aid a failing entity within the group. Discussions have included the possibility of requiring both the filing of group financials as well as a group RBC. This session will provide current information in the thought processes of the NAIC as they make decisions regarding possible changes to capitalization within groups of insurers.
Objectives:- Attendees will to able describe the discussions utilized by the NAIC.
- Attendees will be able evaluate the manner that possible group capital requirements will affect their company.
- Attendees will be able to plan for possible changes that may be needed for capital structuring within their group.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
306 Insurance Contracts Project
Session Leader
|
Michael Monahan, American Council of Life Insurers
|
Panel Members
|
Michael Monahan, American Council of Life Insurers
|
|
Dan Daveline, National Association of Mutual Insurance Companies (NAMIC)
|
Insurers currently use a variety of different and largely inconsistent local approaches to measure the value of insurance contracts within their statutory financial statements. The International Accounting Standards Board (IASB) is working alongside the US Financial Accounting Standards Board (FASB) to develop a harmonized IFRS for insurance contracts. However, a number of fundamental issues are still being debated and the current views of the IASB and FASB differ, which may affect key areas such as the approach to contract measurement. Proposals are being discussed and revised at an accelerating pace. In 2012, the Boards will continue deliberations and attempt to reconcile their differences.
Objectives:- Update the status of Insurance Contracts project.
- Define the major differences between the FASB and the IASB.
- Discuss the timeline to completion
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
307 Legislative Tax Update
Session Leader
|
Jim Demerath, Blue Cross Blue Shield of Michigan
|
Panel Members
This session will review recent tax-related legal developments affecting the insurance industry. The panelists will discuss recent legislative changes and proposals, court decisions, and administrative rulings in federal and state taxes, including premium and retaliatory taxes.
Objectives:
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
308 Reinsurance Evolution: Changes in the World of Reinsurance
Session Leader
Panel Members
|
Connie Jasper Woodroof, StoneRiver
|
|
Dan Gibson, Prime One Insurance
|
Reinsurance changes are looming over the insurance industry and their potential impact cannot be overstated. Amendments range from revisions to the NAIC’s Credit for Reinsurance models, to possible accounting modifications. These changes are coming from a number of directions: the NAIC, U.S. accounting boards, international accounting standards groups, and the risk management community. The changes have the potential to impact every area of the reinsurance business: P&C, Life and Health.
Attend this informative session to learn how current and proposed changes to reinsurance could impact our industry. Material includes an update on recent NAIC and NCOIL work, changes being discussed as part of the effort to harmonize IFRS, STAT, and GAAP reporting, and comments on these topics from a company perspective.
Objectives:- Attendees will be able to summarize changes affecting their company.
- Attendees will be able to plan and execute needed changes to their procedures.
- Attendees will be able to evaluate reinsurance contracts for appropriate changes.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
321 Growing your Career through Networking
Session Leader
Panel Members
Networking is one of the most critical tools to accelerate one's career. Relationships are the catalyst for success as people do business with those they like and trust and networking is about building sustainable and mutually beneficial relationships. In this session we will discuss the importance of networking and the impact it can have on career acceleration. We will share some tools to increase the effectiveness of your networking. Additionally, over the past few years, online business and social networking tools have taken on a greater role in the business world. We will explore the opportunities to maximize the value of these tools to network and present one's credentials as well.
Objectives:- Better understand the importance of networking in career development
- Understand the tools available to you to build a network
- Distinguish between types of relationships and how to better sustain the network you've built
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
371 Ease of Doing Business: Distribution Channel Collaboration, Automation & Portals
Session Leader
|
Anthony O'Donnell, Insurance & Technology Magazine
|
Panel Members
|
Belen Tokarski, CNA Insurance
|
|
Ralph Blust, Willis Group
|
|
Tom Hammond, BOLT Insurance Agency
|
With ease of doing business and agency loyalty viewed more and more as a strong competitive advantage, IASA attendees are sure to benefit from this session. Learn how one of the largest insurers effectively leveraged technology to define and implement a new way of doing business – an easier way of doing business - with their agencies.. The panel of speakers will include the insurer as well multiple agencies, sharing their perspectives and insights. Most insurers are actively looking for better ways to support agents, consumers, and all distribution channels. With these goals in mind, attendees are sure to benefit from the real world experiences shared during this session.
Objectives:- • How to enable real-time quoting and straight through processing for commercial lines.
- • The benefits of agent portal implementation and what agents look for from their carriers.
- • The use of social networking platforms and collaboration tools
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
372 How e-Billing & Self-Service Improve Customer Satisfaction & Reduce Costs
Session Leader
Panel Members
|
Anthony Neff, North Carolina Farm Bureau Mutual Ins. Co.
|
|
Linda Squires, North Carolina Farm Bureau Mutual Ins. Co.
|
|
Marty Haas, Great West Casualty Company
|
Studies show that the insurance buying public has become more Internet-centric and they expect the same from their insurance providers. Providing customers with Electronic Billing and Payment Presentment (EBPP) and online self-service options allows them to manage their own accounts quickly and conveniently while the insurance companies reduce their associated costs.
North Carolina Farm Bureau Insurance and Great West Insurance will share best practices and quantifiable results from successfully incorporating these electronic services and properly promoting them to their policy holders.
Objectives:- Consumers’ changing billing and payment preferences and the impact to your business and profitability
- Ways inbound and outbound payment processes can be streamlined
- Strategic marketing and positioning ideas to promote most cost effective payment channels to reduce billing and customer support costs
- Measuring the costs associated with inefficient disbursement and billing administration
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
373 Role of Social Media & Analytics in Identifying Insurance Fraud
Session Leader
|
Stephen Applebaum, Aite Group
|
Panel Members
|
Max Drucker, Social Intelligence Corp.
|
|
Mark Garner, Farmers Insurance
|
Insurers lag behind the rest of the financial services industry in using technology to reduce fraud; Social Media is enabling them to catch up. Industry estimates of P&C fraud run up to US$120 billion annually, unacceptably high in an industry that generates less than US$ 1 billion in premium.
The P&C market is fiercely competitive and demands greater operational excellence. Some costs are unavoidable - fraud is not one of them. Fraud costs continue to rise and insurers with poor deterrence records invite adverse selection. SIU resources are valuable and can be more efficiently deployed against complex, high-exposure claims through the successful early detection of higher volume, lower exposure questionable claims.
Social Media penetration has reached the point where it is now economically productive for insurers to mine it for useful information but the practice is new and it needs to be pursued carefully. This session examines current best practices.
Objectives:- Describe the size and impact of insurance fraud and the potential benefits of Analytics & Social Media mining
- Describe the current state and projected adoption of Social Media and implications for the insurance industry
- Provide general information about emerging solutions, describe two existing practical applications in insurance
- Describe potential issues, challenges and solutions for using of Social Media information in Claims investigation
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
374 Compliance and Data Quality thru Location Intelligence
Session Leader
|
Bill Sinn, Pitney Bowes Business Insight
|
Panel Members
|
Jim Streicher, Cincinnati Insurance
|
|
Berk Charlton, Pitney Bowes Business Insight
|
This presentation will discuss how geocoding and risk data can improve data quality for insurance carriers -- specifically in the areas of automated underwriting, policy pricing and regulatory compliance. It will also highlight the importance of risk factors such as distance to water, mine subsidence, police & fire codes, rating territory, sinkhole, tax, and windpool for driving greater data accuracy.
Objectives:- Attendees will hear how one leading insurance carrier has leveraged data accuracy for mitigating risk and driving greater automation in the underwriting process.
- Attendees will be able to increase the accuracy of policy pricing and reduce loss exposure.
- Attendees will be able to improve regulatory compliance across the enterprise.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
375 Time for Change: Best Practices for Successful Legacy Modernization
Session Leader
|
Deb Smallwood, SMA Strategy Meets Action
|
Panel Members
|
Brian Schaff, First Internet Solutions
|
|
Alfred Goxhaj, Philadelphia Insurance
|
The days when insurers are locked into all-in-one enterprise systems for policy administration, billing, claims, and other critical insurance operations are over. Today, when insurers decide to modernize a legacy environment, there are options to be considered not only in terms of modularity, functionality, configurability and integration, but also in terms of implementation and delivery options. Many insurers today are shying away from pulling the band-aid off with the proverbial one fell swoop, but “rip and replace” may be the right option for you. What best practices should you consider as you outline a process for a successful legacy modernization? Join a panel of experts for a thorough review of when it is time for a new solution, the best process for defining needs and selection criteria, replacement strategies, delivery models, technology platforms, support options and more. Replacing legacy systems is never going to be easy, but by applying best practices insurers can increase the chances of delivering on time and on budget.
Objectives:- Attendees will be able to determine company preferences and needs concerning modularity, functionality, configurability and integration.
- Attendees will be able to evaluate implementation and delivery options for the best fit.
- Attendees will be able to better manage the legacy modernization process through best practices for on time, on budget results.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
376 Front End Evolution to the User Experience Viewpoint
Session Leader
|
Karen Furtado, SMA (Strategy Meets Action)
|
Panel Members
|
Dave Cheeseman, Arista Insurance
|
|
Wendy Aarons-Corman, edge IPK
|
|
Lee Nagel, Cedar Document Technologies
|
Join this session to hear experts share their insights, experiences, and opinions on the evolution of the insurance industry user experience; the growing importance of its role in keeping customers, employees and distribution channels productive and engaged; and their best practice approaches to the development and agile delivery of an effective, efficient and customizable user experience.
The ideal user experience – whether the user is the insurance buyer, employee or agent/broker or third party– begins with knowing the users and their individual preferences, and with managing agent/broker and customer relationships at each touch point on the insurance value-chain.
Satisfying agents/brokers, customers, and employees translates into successful and long term relationships as well as market growth. The key is to do it seamlessly, efficiently, and effectively. Attend this session to learn what options, methodologies, and technologies are available and how you can get started on your company’s ideal user experience initiatives.
Objectives:- Learn how to approach the user experience initiative and how to define the ideal user experience for each user
- Better understand the importance of providing effective distribution and self-service channels
- Learn how to maximize ROI with user experience technologies, legacy systems, new systems, and improved productivity and efficiencies
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
401 SEC Update
Session Leader
|
Marcia Jerding, Johnson Lambert & Co LLP
|
Panel Members
Overview of changes in SEC rules and regulations and their impact on the insurance industry. As well as, practical discussion of implementation considerations and reporting and disclosure considerations.
Objectives:- This session is designed to provide an overview of recent changes in SEC rules and regulations.
- Participants will gain a basic understanding of the nature of these changes as well as discuss practical implementation.
- Participants will understand the significance of the changes and how these changes impact the insurance industry.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
402 Managing Multiple Accounting Bases
Session Leader
|
Steve Swanson, Assurant Health
|
Panel Members
|
Mike Herling, Princeton Financial Systems (PFS)
|
|
Annette den Outer, Princeton Financial Systems (PFS)
|
|
Richard Smith, Nationwide
|
|
Maria Bifulco, Prudential Insurance
|
In grade school it was the three R's, but for insurance professionals it is the three C's (compliance, compliance, compliance). Insurance companies continue to address multiple accounting bases reporting challenges, particularly with regard to STAT, US GAAP, Tax and IFRS. This session will focus on ways to cope with the different requirements and interpretations.
Objectives:- Understand differing requirements by basis.
- Understand operational considerations, including internal and external reporting.
- Review some real life examples of how organizations are optimizing their accounting.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
403 Fraud & Forensics
Session Leader
Panel Members
|
Shauna Woody-Coussens, BKD, LLP
|
Fraud Trends and Fraud Detection -
This session will update attendees on recent fraud trends impacting the insurance industry and how those frauds are being detected. Examples from recent investigations will be presented as case studies. Each case study will identify the attendant red flags for fraud and detail how the fraud was perpetrated and covered up in the accounting records.
Objectives:- Educate attendees on recent fraud trends in the insurance industry
- Provide guidance to allow for the identification of red flags for fraud
- Provide guidance on how to investigate potential fraudulent transactions
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
404 Investment Accounting to the Future - "Convergence or Not"
Session Leader
|
Sam Mejia, SS&C Terchnology
|
Panel Members
|
Michael Doyle, SS&C Technologies
|
This session is ideal for accountants and operations personnel to quickly understand the implications of changing accounting policies due to IFRS pressures and how it may impact both GAAP and STAT for investment reportiing. By attending this session, firms will be able to set and implement accounting policy to handle current and future considerations for rapidly changing reporting and accounting requirements.
Objectives:- Attendees will be able to differentiate topical accounting bases issues.
- Attendees will be able to begin working on IFRS implementation.
- Attendees will be list key issues facing insurance for investment accounting stemming from the increased demands of management from new reporting requirements.
- Attendees will be able to account more effectively for investment and implement policy.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
405 New NAIC Holding Company Models Change Group Landscape
Session Leader
|
Connie Jasper Woodroof, StoneRiver, Inc.
|
Panel Members
|
Randi Reichel, Mitchell Williams Law Firm
|
|
Philip Carson, American Insurance Association (AIA)
|
US insurance regulation is putting more focus on group supervision. In 2010, the NAIC adopted new Holding Company models for the insurance industry. Since these models are state accreditation standards, all states will be implementing the revisions. What has changed that your holding company group needs to be aware of? Do you understand the concept of Supervisory Colleges introduced by the revisions? Has your state already adopted the revisions (some have)? This session summarizes the changes in the models to help your company plan accordingly.
Objectives:- Attendees will obtain a better understanding of the revisions.
- Attendees will be able to analyze how model revisions may affect their companies.
- Attendees will be able to begin working on changes needed for their company.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
406 Financial Instruments Project
Session Leader
Panel Members
|
James Stangroom, Invotex
|
|
Lauren Belot, Allstate Insurance Company
|
An update on the status of IASB and FASB convergence activities regarding financial instrument. This includes classification and measurement, impairment and hedging activities.
Objectives:- Attendees will be able to differentiate between IFRS and GAAP standards regarding financial instruments.
- Attendees will be in a better position to consider implementation of new accounting standards.
- Attendees will be able to measure the potential impact of these new standards.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
407 Controversy Management-Effectively Navigating Federal/State Tax Audits
Session Leader
Panel Members
The panel will discuss recent audit developments with a focus on IRS audits. The panelists will provide insight on how to manage the audit and review differences between a CAP audit and the traditional audit. Finally the impact of tiered issues, coordinated issues papers industy directives audits will be reviewed.
Objectives:- Provide tips and best practices in managing audits.
- Review the differences between a CAP audit and the traditional IRS audit. Discuss the requirements to be in the CAP program.
- Assist attendees in understanding the current tax issues that are being reviewed in audit and how to reply to them.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
408 Applied Analytics: Converting Mountains of Data into Nuggets of Gold
Session Leader
Panel Members
|
Steven Callahan, Robert E. Nolan Company
|
In today’s hyper-competitive market, insurers are looking for more effective ways to improve underwriting risk, optimize pricing, reduce claim costs, and increase market share. Business intelligence and predictive analytics are being increasingly relied upon to achieve those goals. In a typical P&C company, there are approximately 40 functional areas that can benefit from applied analytics – yet many carriers have only scratched the surface. Join us for this session to learn how some insurers have found creative new ways to make use of analytics, with the goal of turning information into management action. Attendees will hear one carrier’s analytics case study and learn how to use an analytics roadmap to effectively assess and capture the benefits of analytics company-wide.
Objectives:- Audience members will be able to describe a roadmap for applying analytics.
- Audience member will be able to evaluate the suitability of analytics to be applied in various functional areas.
- Describe how one carrier has used analytics and related technologies to improve business performance.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
421 Team Building: How, When & Why
Session Leader
Panel Members
It is common in our culture to hear the idea expressed, in some fashion, that the "buck stops at the top." The implication here is that one person (Owner, President, CEO,COB, etc.) bears the burden of making the decision and bearing the ultimate responsibility for decisions made in companies. While there is some merit to this in its ultimate state, those companies who have found the most success have mastered the art of delegating responsibilities, developing personnel from within and crafting deliberate initiatives to build TEAMs of leaders at the top to guarantee a higher rate of success.
All too often we see company reputations and individual careers suffer because of poor leadership models that allow individuals, or limited numbers of people, to be inappropriately burdened. Attend this session and learn how to leverage leadership tools to develop and keep great TEAMS in your company.
Objectives:- Discuss the DNA of the successful TEAM environment
- Discuss some of the steps to take to establish a quality TEAM environment
- Discuss Roles necessary for the TEAM to function successfully
- Discuss strategies for implementing these principles in existing structures
- Discuss strategies to extend this concept throughout the company
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
471 High ROI on Client Communications - Exploring Your Options Through Case Applications
Session Leader
|
Bob Helvey, The TSMC Group
|
Panel Members
|
Vijay Doshi, Symetra
|
|
Claude Genreux, TD Insurance (Meloche Monnex)
|
Insurance companies are dealing with changing documents on a virtually minute-by-minute basis. In a rapidly changing world, where loyalties are quickly shifting and customers are clamoring for faster more pertinent information, insurance companies must find a way to remain relevant while maintaining and adhering to the strictest of regulatory compliance standards. Generating relevant documents that pass through many variations before being finalized, and keeping track of these changes is typically not only inefficient but often leads to discrepancies, lack of compliance and misunderstandings amongst external and internal parties.
Case study reviews are often a great way to learn how you can adopt certain behaviors, processes and technologies that can help your firm improve. This session will share key highlights and detailed experiences of how a few insurance companies have been able to bring in document automation technologies to address enterprise-wide communication requirements, accelerate the introduction of new content to published documents, and reduce errors and omissions that were previously prevalent from pure human error.
Participants will see how easy-to-deploy technologies were introduced to bring about a level of efficiency previously unknown in enterprise-wide communications and contract modifications/review. The case examples to be shared will showcase how insurance carriers introduced new technologies that were rapidly adopted across the firm with little training, and delivered significant ROI -- within weeks!
Objectives:- Attendees will be able to develop and execute a plan improving document output efficiency by 80-90%.
- Attendees will be able to improve document output standards for regulatory, compliance, and marketing efforts.
- Attendees will be able to improve multi-channel outward communications to all customers, internal and external.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
472 A Fresh Approach to the Core System Business
Session Leader
Panel Members
|
Zach Gustafson, Guidewire Software
|
|
Karen Furtado, SMA (Strategy Meets Action)
|
|
Michel Desjardins, Promutuel Groupe
|
Your Property/Casualty insurance organization needs a new core system – and you face the challenge of justifying the project. Building a case that can demonstrate expected ROI and gain executive approval is often seen as a ‘necessary evil’. Exactly how do you justify a system replacement project that by all accounts is a business imperative for your company? This session will explore a fresh perspective on business cases. This panel discussion will include: determining the strategic and operational goals of your company, identifying the stakeholders, what they are looking for and how their needs differ, understanding the components of a successful business case, determining the financial and non-financial benefits of the project and whether or not the intended benefits can be measured or verified. We will discuss the change in goal – from getting the check signed to creating a signpost to guide project decision-making and help ensure project success.
Objectives:- Learn to identify business case stakeholders, what they are looking for and how their needs differ.
- Understand common issues afflicting core system business cases.
- Discover the components of a successful business case.
- Learn how your business case can help guide project decisions and protect against scope creep.
- Assess whether your intended benefits can be measured or verified.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
473 Unlocking Growth and Operational Efficiency: BPR Still Matters
Session Leader
Panel Members
|
David Lawless, Magna Carta Companies
|
How do you measure the divergent processes and procedures used to accomplish tasks? It can be difficult to find new ways of improving processes without certain data and insights, but technologies like Business Process Reporting (BPR) provide concrete ways of evaluating workflow efficiency and helping deliver solutions that make work easier and faster. With the right tools in place to structure processes, you can measure the work being done in order to provide good management, set goals for improvement, and meet or exceed set service levels. BPR can help identify areas of your business that can be streamlined and processes that can be improved on a continual basis. It’s about making your company more flexible, efficient and able to adapt to change. Attend this session and find out why BPR still matters and how it can positively impact your business and your bottom line.
Objectives:- After participating in this session, attendees will be able to explain how BPR can provide actionable data and insights into their businesses.
- After participating in this session, attendees will be able to utilize BPR to identify areas of the business ripe for improvement.
- After participating in this session, attendees will be able to visualize ways workflows can be streamlined and made more efficient.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
474 Getting Master Data Management Done: Real World Examples
Session Leader
Panel Members
|
Andy Ousterhout, IBM
|
|
Carol Mahassek, Reinsurance Group of America
|
Spurred on by the perennial challenge of siloed policy administration platforms and the fragmented windows
into books of business that these systems provide, insurers are increasingly investigating and embracing
master data management (MDM) solutions to obtain the ever elusive 360 degree view of customers,
producers, and products. At a high level, the promises of MDM and the golden copy of key data that it
promises are compelling. However, as with so many complex IT initiatives which impact functions,
supporting applications, and data across an enterprise, political challenges abound, and there are many
devils in the details. This panel will focus in on the experiences of successful MDM implementations and
the lessons learned along the way.
Objectives:- Understand how a MDM initiative can help achieve consistent, consolidated and reliable data across the insurance enterprise.
- Benefit from hearing panelist share their MDM success stories and the lessons they have learned.
- Gain insight as to the strong governance needed to maintain clean and consistent data.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
475 Leadership and Execution in Successful IT Modernization Projects
Session Leader
|
Deb Smallwood, SMA Strategy Meets Action
|
Panel Members
|
Bob Buchanan, Auto Owners Insurance Company
|
|
Sean Christie, Gore Mutual Insurance Company
|
|
Vani Prasad, HTC Global Services, Inc.
|
|
Michael Witt, Accenture
|
Technology is the mechanism that determines how an insurance company can grow and at what speed. Particularly in today’s economy, where companies are trying to improve, upgrade, or enhance with little or no budget, it’s important to know all your options, including how to determine where you will benefit the most from partnering with an outside firm.
Most projects and initiatives are over managed and under led. The distinction between management and leadership is important to understand, as it can lead to competitive advantage in your organization. Agile and lean approaches focus on this kind of competitive advantage.
This session will focus on the importance of building teams and casting vision, focusing on the experience of two insurance companies. We’ll discuss the tools you can use to diagnose problems and how to energize individuals to dynamically overcome obstacles in their pursuit of your business goals.
Objectives:- Defining the right partners for your needs
- Role defininition and process management
- Effective team building and leadership
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
476 Cloud Computing: Strategies, Risks and Opportunities
Session Leader
|
Kristi Runser, Secrutiry MicroImaging
|
Panel Members
|
Murali Natarajan, RLI
|
|
Jeri Ravi, EisnerAmper
|
|
Elsa Ferreira, EisnerAmper
|
Developing a flexible and agile IT strategy has been never been more challenging for insurers as technology is changing at a rapid pace. While moving to a cloud computing environment can offer very high cost savings, it's extremely important to know the how to leverage this new way of doing business. As many companies are contemplating the move to cloud providers to simplify operations and cut costs, organizations will need to understand the architecture to prevent a migration from a legacy environment to an e-legacy environment. Considerations must be given to the risks involved and how to mitigate these risks and how to perform the necessary due diligence to ensure your data is secure.
This session will provide an insurer case study and insights into the world of cloud computing; the definition of cloud computing, the drivers for moving to cloud services, and the risk identification and mitigation strategy.
Objectives:- Insurers will be presented the strategies and possibilities of cloud computing offerings and their impact on your architecture.
- Insurers will learn methods to evaluate and plan for risks associated with cloud computing.
- Insurers will learn what are the necessary due diligence procedures to follow before selecting a provider.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
501 NAIC Accounting Update
Session Leader
|
Dan Buttke, Baker Tilly Virchow Krause
|
Panel Members
This session focuses on recent guidance and interpretations adopted by key working groups of the NAIC's Financial Condition (E) Committee - the Emerging Accounting Issues Working Group and the Statutory Accounting Principles Working Group. Topics are timely for controllership and accounting staff and will include updates on all current SSAP's.
Objectives:- Attendees will be able to describe new accounting guidelines applicable to their company.
- Attendees will be able to plan for newly exposed guidance and determine potential impact.
- Attendees will be able to evaluate current hot topics in regulatory accounting that may impact their company.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
502 Things You Can't Escape: Death, Taxes…and Unclaimed Property
Session Leader
|
Deborah Rose, Atlantic Coast Life Insurance Company
|
Panel Members
|
Christa DeOliveira, StoneRiver, Inc.
|
|
Cathleen Bucholtz, True Partners Consulting LLC
|
|
Deborah Rose, Atlantic Coast Life Insurance Company
|
As of five years ago, the National Association of Unclaimed Property Administration estimated that there was nearly $33 billion in unclaimed property in the custody of states. This is not chump change, and with the exponential increase in insurance industry unclaimed property audits, compliance has become as unavoidable as death and taxes. In addition, states have significant budgetary pressures which have led to an increase in audit activity and increased penalties and/or interest for non-compliance. All companies are susceptile to the pressures in the current environment. What's a Company to do? Being informed and prepared can help in ensuring the Company's compliance and help in managing a potential audit. Don't be caught off guard! With the increased state audit activity and the risk for insurance companies, this topic is extremely pertinent to all insurers.
Objectives:- Ensuring compliance with unclaimed property regulations
- Discuss the current climate and trends
- Identifying audit triggers
- Preparing for and managing an unclaimed property audit
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
503 Healthcare - Where is it Going Now?
Session Leader
Panel Members
The New Health Care Marketplace: Survival of the Fittest? Overview of Health Reform Initiatives Impacting Health Insurers a) Implications of the Rate Approval Process b) Five Things Companies Need to Consider about the Medical Loss Ratio Requirements c) How will Health Care Exchanges Work and will Agents Serve a Role d) What about Co-Ops - What will the Health Care Marketplace of the Future Look Like? a) New Players? b) New Roles? c) Will Everyone Survive?
Objectives:
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
504 Economic Update & Investment Trends
Session Leader
Panel Members
This session will provide a macro perspective on the economy - current assessment along with some projections for the future. We will then describe the on-going trends and suggest the ramifications of such trends on the asset side of the balance sheet. This session will feature experts in economics and investment management and how they see and deal with a challenging economy.
Objectives:- Attendees will be able to implement strategies for leveraging favorable trends.
- Attendees will be able to evaluate trends and different strategies regarding investment policy and decisioning.
- Attendees will be able to understand (at a high level) key variables and then relate these operationally to insurance processes at their respective firms.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
505 ERM & ORSA - Best Practice Approaches from Different Viewpoints
Session Leader
|
Norlyn Baker, Eide Bailly LLP
|
Panel Members
|
James Stangroom, Invotex
|
|
Karen Peterka, Eide Bailly LLP
|
|
Scott Anderson, Christopher Gross Consulting
|
Enterprise risk management (ERM) is a critical success factor for insurers of all sizes, with companies having different degrees of qualitative and quantitative sophistication in their risk management programs. Regulators are developing standards which may require companies to implement formal risk and solvency assessment policies and programs. Companies will need to be prepared to implement any such requirements. Such standards, currently being developed by the NAIC, are expected to be finalized during 2012.
Insurance companies are looking to ERM and actuaries to assist them in meeting ORSA (own risk solvency assessment) requirements by helping them align the qualitative and quantitative aspects of their risk exposures for regulatory reporting, as well as providing preparation ideas for upcoming regulatory requirements. Using insurance case studies. this session looks at addressing both the quantitative and qualitative aspects of your company's risk appetite. ERM practices that can be applied in a practical way by mid-size and smaller insurers will be described. Linking that analysis to your strategic goals, initiatives and ERM programs will support the principle-based ORSA compliance initiatives and assist in presenting a consistent message to your regulators.
Objectives:- The presentation will provide attendees with the status of recent NAIC regulatory activities involving risk management policies.
- Attendees will be able to evaluate how actuarial teams can utilize an existing ERM program to support ORSA decisions.
- Attendees will understand the setting of tolerance levels, stress testing, counterparty reinsurance, and catastrophic modeling.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
506 IFRS 1 - The Starting Point for Insurers
Session Leader
Panel Members
|
Tim Foley, AAA Life Insurance Company
|
IFRS is coming to the U.S. in some form in the near future. IFRS 1, First Time Adoption of International Financial Reporting Standards, governs this transitional phase. This session is designed to educate attendees on the content of IFRS 1, and to provide practical advice on how to use IFRS to create a project plan for the IFRS conversion effort. The underlying principle of IFRS 1 is full retrospective application of all standards. However, IFRS 1 also provides for a series of optional exemptions to this requirement. Financial management must take great care in making its initial policy decisions, decisions that will impact the financial position and results of operation for years to come. More importantly, financial management should seek to take full advantage of this one-time opportunity to reassess its accounting policies and procedures. This session will provide practical tips and examples of how to achieve these objectives.
Objectives:- Attendees will be in a better position to implement IFRS.
- Attendees will be able to plan for IFRS implementation.
- Attendees will be able to avoid certain implementation pitfalls.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
507 Life Tax Update
Session Leader
|
Fred von Rueden, Deloitte Tax LLP
|
Panel Members
|
Craig Provenzano, Horace Mann Insurance Companies
|
|
Jim Hall, ACLI
|
|
Tom Gibbons, Pacific Life Insurance Company
|
|
Fred von Rueden, Deloitte Tax LLP
|
The panel will lead a discussion of major tax developments and related tax planning impacting the life insurance industry. The panelists will also review recent legislative changes, judicial decisions, and rulings in the areas of federal and state income taxation as well as state premium and retaliatory taxes.
Objectives:- Summarize the latest federal tax developments of interest to the life insurance industry.
- Review recent developments surrounding the state taxation of life insurance companies.
- Assist session attendees in understanding how current federal and state tax developments impact corporate tax accounting, planning, and compliance.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
508 Reinsurance Contracts: Common Terms & Clauses
Session Leader
Panel Members
Building on the foundation from session 108 "Reinsurance 101: The Basics of Reinsurance", this session will focus on the language used in various types of property/casualty and life/health reinsurance contracts. If you are an accounting or systems person who has ever struggled to interpret the “legalese” in a reinsurance contract – or are just curious – then this session is for you. Example contract language will be provided for discussion purposes. Attendees will walk through the interpretation of common reinsurance contract clauses, and the implications they may have for calculating and accounting for premium and loss under the contract. Basic contract language will be discussed, including but not limited to: contract term, coverage, premiums, calculation of loss and loss adjustment expense, and certain profit calculations.
Objectives:- Attendees will be able to identify different types of reinsurance contracts
- Attendees will be able to recognize and interpret common contract clauses
- Attendees will be able to determine the accounting implications for various types of common clauses
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
521 Balancing on the Work/Life Tightrope
Session Leader
Panel Members
|
Katy Frankel, Ernst & Young
|
With the new trend of constant communication via smartphones and tablets, employees are finding it even more difficult to disconnect from work. For many, finding a good balance between work and life sometimes feels like an impossible feat. Join our panel discussion to hear how other employees have found balance in their lives and hear from employers who understand the importance of helping their employees achieve that balance.
Objectives:- Identify what work/life balance strategy works best for you
- Learn tips and methods to help you prioritize work and life
- Discover solutions to common work/life balance challenges
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
571 Portal Power: Empower Your Independent Agents & Effectively Compete with Direct Channels
Session Leader
|
David Gallagher, iter8 Inc.
|
Panel Members
|
Chad Hersh, Novarica
|
|
Deb Smallwood, Strategy Meets Action
|
Portals have Power! Insurance carriers are leveraging the power of their portals to capitalize on new growth and service opportunities. A combination of market forces including increased competition and changing consumer demographics are driving insurance carriers to expand portals to serve multiple purposes and multiple audiences. It is not just about the interface with the agent, or policy holder self serve, rather it is about all interactions, all transactions and all interfaces.
This session will explore the changes impacting portals, and how carriers are responding. It will specifically examine modern portals that provide near-direct consumer sales and policy holder self-service so that consumers can receive on-line quoting, inquiry and policy change capabilities, while maintaining a strong relationship with their existing agent.
A combination of industry experts and leading carriers will present to provide the audience with information on how modern portals can deliver profitability, growth and effectively compete with direct channel insurers.
Objectives:- Learn from industry experts and with real-world examples how to improve your portal to deliver extended functionality, ease of use and maximize agent use
- Understand how and why carriers need to invest in technology that provides “near direct,” independent agent-branded consumer sales and servicing
- Learn to maximize portals as a hub for all communications, how they are benefitting from connectivity to any and all back end systems
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
572 Uncrossing the Lines: Developing an Enterprise-Wide Application Strategy
Session Leader
Panel Members
|
Jim Carlucci, Erie Insurance Group
|
|
Troy Lethem, Capitol Insurance
|
|
Stuart Tainsky, PURE
|
Years of systems upgrades, patches made necessary by mergers and acquisitions, and workarounds created to fill immediate needs mean many insurers, P&C, life and reinsurers as well, are plagued by process inefficiencies that hinder new business and tear down opportunities for gaining a competitive edge. While legacy modernization has long been a key priority for insurers, it needs to be done with an eye toward developing an enterprise-wide application strategy that potentially uncrosses the lines and silos inherent in many insurer architectures today. Maintaining multiple legacy environments across lines of business and core processes such as policy and billing, is not only expensive and resource intensive, it cannot doesn’t deliver the business agility necessary to compete in today’s market. Growing maintenance costs are forcing insurers to become more efficient in their daily operations and explore platform consolidation more seriously. Through case studies details, attendees will hear real-life methods and best practices for determining the business case, vendor selection and successfully implementing modern core administration system solutions across multiple lines of business.
Objectives:- Evaluate legacy conversion/modernization strategies to determine the best fit and least risk for their company-specific situation.
- List the benefits their companies can garner through legacy modernization and consolidation of systems through an enterprise application strategy.
- Understand the risk and return of consolidating lines of business onto modern policy management platforms.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
573 The Future of Claims-Optimizing Outcomes
Session Leader
Panel Members
|
Mark Breading, Strategy Meets Actions (SMA)
|
|
Stuart Rose, SAS
|
This session will explore the ways in which claims professionals are using technology to improve operational performance and provide superior customer service to claimants. The session addresses the topics of core systems/legacy replacement and improved data management.
It will focus on answering these key questions:
• What new capabilities are available for insurers that deploy modern claims technology platforms?
• How are the goals of better collaboration, greater consistency, and increased transparency achieved across today’s claims organizations?
• Coupled with the better management of data, how does the use of analytics drive value to all involved in the claims process?
This session will also outlines the technology environment insurers need to maintain in order to stay ahead of insurance fraudsters and their sophisticated schemes. It explores how carriers are deploying analytic capabilities, including:
• Fraud detection and prevention
• Social network analysis
• Enterprise case management
Objectives:- Attendees will understand the new capabilities that are available to deploy modern claims technology platforms.
- Attendees will see how the use of analytics drives value to all involved inthe claims process.
- Attendees will learn about utilizing technology to aid in fraud detection and prevention
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
574 The State of Data Security in Insurance
Session Leader
|
Ara Trembly, Ara Trembly-The Tech Consultant
|
Panel Members
|
Martina Conlon, Novarica
|
|
Ernie Pearson, Secura Insurance Companies
|
|
Donald Light, Celent
|
Securing data and systems from unauthorized access has been a major headache for most companies, with some estimating that at least one new malware program is being created every second! The past year has also seen more attacks on insurance enterprises, as cyber-criminals seek to steal personal and corporate data that can be re-sold on the black market at very high prices. Add to that the fact that the security of the data we hold is the key to customers' trust in us, and we have a very scary situation indeed. This panel will discuss the current state of data security in our industry, the primary threats to data and systems, the possible fallout from data loss or systems compromise, and practical steps to make our data and our enterprises more secure.
Objectives:- Describe the current environment for security in insurance as well as overall.
- Discuss vulnerabilities in enterprises, notably in terms of hardware, software and security policies.
- Make recommendations to help bolster security in our enterprises now, and in the future.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
575 Buyer Beware: A Practical Approach to Software Acquisition
Session Leader
|
Gary LaFond, Adaptik Corporation
|
Panel Members
|
Brad Lessen, Country Financial
|
|
Bill Garvey, Eastern Shore Consulting
|
|
George Grieve, CastleBay Consulting
|
|
Larissa Tosch, Glatfelter Insurance
|
As the economy recovers, activity in the software acquisition space is going to increase, and the term “caveat emptor” will never be more important. If you are actively seeking new software or just thinking about it you should not miss this session.
Acquiring core operating software consists of two major tasks – selecting the right vendor and negotiating the best business deal. Making a less than optimal choice can cost insurers their futures, and yet pressures to make hasty decisions often lead to bad experiences.
Successful selections follow a methodical process that helps insurers rule out vendors who don't meet their requirements and that use defined business drivers to guide decisions. Successful business deals level the playing field, control the carrier’s risk and enforce payment for delivery.
Join our expert panelists to learn more about these critical processes.
Objectives:- Strategize the software selection process to draw out intangible qualities of vendors
- Negotiate the right business deal to protect your company down the road
- Position the implementation project for success
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
576 Social Media for Insurance 2.0: Operationalizing the Social Enterprise
Session Leader
|
Jennifer Overhulse-King, St. Nick Media Services
|
Panel Members
Recent reports claim executives still aren't "getting it," but social media continues to march across the insurance enterprise with new uses appearing daily in the areas of marketing, customer service, human resources, fraud detection, underwriting and more. It seems today everyone wants a piece of the social media pie, and in order to get the maximum benefits from social media, you must not only pick an owner, but develop a strategy for operationalizing your new social insurance enterprise. Insurers must adapt and evolve as social enterprises, and that may mean saying goodbye to credit scoring and hello to social media monitoring tools. Social is redefining the insurance landscape by offering a new platform for researching and developing new products, boosting brands, heightening fraud detection, improving loss ratios and increasing revenues by empowering distribution channels. In this session anything goes, from wikis, websites and blogs to YouTube, social media monitoring applications and communities, we're taking social media for insurance to a whole new level.
Objectives:- Attendees will be able to identify opportunities for the use of social data in their operations.
- Attendees will be able to explain the key decisions involved in the use of social data.
- Attendees will be able to interpret the challenges that must be addressed to gain benefits from social data.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
601 NAIC Reporting Update
Session Leader
|
Chris Anderson, Baker Tilly Virchow Krause
|
Panel Members
Be the most knowledgeable in your company on NAIC Reporting! The NAIC will be here to provide the most up-to-date changes to statement reporting including blanks and instructional changes. In addition, this session will provide the latest information on investment reporting, risk-based capital, SMI as well as updates on other NAIC activity and related hot topics.
Objectives:- Attendees will be able to describe what reporting changes affect their company
- Attendees will be able to complete new investment reporting requirements
- Attendees will be able to describe how risk-based capital changes or other related topics affect their company.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
602 Reducing Costs by Changing the Way Disbursements are Done
Session Leader
|
Richard Habstritt, Midwest Family Mutual Insurance Company
|
Panel Members
|
Cindy Boyle, NORCAL MUTUAL
|
Can your organization continue processing disbursements with traditional methods? When do you consider both external and internal costs of issuing check to be at unacceptable levels? We need disbursement functions in our organizations from claims, billings, and payables to fit the need of 21st Century. If you could reduce the number of checks you issued in half or by 75% what would that mean for your organization?
Are you able to use Debit Cards in billing or claim operation? What about mobile and on-line banking?
The session will present Real World examples and implementations of enterprise-wide, centralized payment management system that integrates disbursement bundling, electronic payments conversions and enables bank neutrality.
Objectives:- Attendees will evaluate current disbursement systems and determine what changes are appropriate for their company
- Attendee will be able to improve disbursement system to take advantage current technology
- Attendee will be able develop a plan to reduce the reliance on checks
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
603 Captive Insurance-It Is Not Just For The Fortune 1000-What Is All The Buzz About
Session Leader
|
Margarete Chalker, Plante Moran PLLC
|
Panel Members
|
David Liptz, Liptz & Associates, CPAs
|
|
Cliff Davis, Orion Risk Management Insurance Services
|
This session will explore the basics of taking control of YOUR risk management program with the use of a captive insurance company, presented by industry experts who will engage you in the basics of captives, the benefits and their long history. The panel will include a CPA, captive owner, captive consultant and insurance professional who will discuss the process of undertaking the feasibility of a captive and what is involved with day to day operations. Come explore the history, the potential utilization and beneficial outcomes of having a captive within your Risk Management Program. Learn about the world of reinsurance and how it can assist in your risk management. Find out and gain knowledge on how to turn your risk management program into a profit center.
Objectives:- Attendees will gain an understanding and benefits of captive insurance companies via "Captive 101".
- Attendees will learn which audit and tax regulations affect captive insurance companies.
- Attendees will learn how to implement advanced captive insurance utilization techniques.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
604 Reporting to the Board Room
Session Leader
|
Rachel Evans, Clearwater Analytics
|
Panel Members
The complexity and uncertainty of today’s financial markets have placed tremendous pressure on the team responsible for managing and reporting on an insurer’s investment portfolios. The financial crises of 2008 and 2011, along with constantly changing accounting guidance and disclosures have only made it more complex, calling for new solutions that cover accounting, investment policy compliance, performance evaluation and risk analytics. With investment balances growing, it’s imperative that relevant stakeholders have access to automated, consolidated investment information that is actionable and timely.
Historically, insurers have relied on disparate systems and complex, manual processes to handle their various investment portfolio reporting needs. Increasingly, investors are looking for integrated solutions that not only provide an independent check on valuation but also a single view into accounting, compliance, performance and risk in order to come up with both pre- and post-trade reporting that supports decision making, provides accurate accounting and financial reporting, monitors compliance and provides dynamic reports on performance.
Senior executives with finite time need investment reports that provide immediate access to pertinent data. Those tasked with providing executive-level reports must ensure they distill impactful information and generate actionable, transparent reports. This presentation examines the needs of senior management and the tools and techniques that make investment professionals successful at reporting up to senior management and the board.
Objectives:- Outline key metrics that C-level management needs in order to have an effective understanding of the investment portfolio
- Learn how best to present critical information about the investment portfolio to Senior Management, the Audit Committee or the Board
- Effective means for reporting portfolio accounting, compliance, performance and risk information to senior executives
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
605 Black Swans and You
Session Leader
|
Connie Jasper Woodroof, StoneRiver
|
Panel Members
|
Rodney Griffin, StoneRiver
|
|
David Rubadue, CBiz
|
A "Black Swan" event is a low-probability, high-impact event outside the realm of normal expectations. Should one occur, what you don’t know, or anticipate, CAN hurt you. Over time, a number of tools have been designed to identify and quantify asset weaknesses.
These have proven to be necessary, but not necessarily sufficient. A more comprehensive approach is Enterprise Risk Management (ERM). This discipline reaches beyond accounting controls, credit risk and security to a more global weighted analysis of the risks an organization faces. Regulation has also moved to a risk-focused examination process and regulators are looking more closely at an organization’s risk policies. All this gives ERM even more importance.
This session will explore how the increasing focus on ERM is impacting management’s operational approach and how the ERM process can be managed. Whether your company is a small insurance company with a single location, a regional carrier, or a large national company fleet, your focus on ERM will affect all aspects of your operation.
Objectives:- Attendees will gain a greater understanding of Enterprise Risk Management.
- Attendees will be able to identify the different elements and methods used in ERM.
- Attendees will be better prepared to identify how ERM methods can benefit their organizations.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
606 IFRS Implementation-Project Planning & Lessons Learned from Real Life Experience
Session Leader
Panel Members
|
Maria Bifulco, Prudential
|
|
David Zdechlik, Sungard
|
This panel will discuss the potential impact that IFRS implementation may have on an organization, including how IFRS impacts various departments of the organization such as Information Systems, Accounting, Actuarial, etc.
The panel will discuss actual experience with trying to implement IFRS, including the following:
1. Determine how GAAP and IFRS are different for your financial statements and document differences. How to track and communicate the differences
2. Set up IFRS project team
3. Determine how your systems and workflows need to change/ be updated to apply the IFRS guidelines
4. Communication of changes in IFRS rules
5. Handling the uncertainty and how to build it in and/or change your implementation plan.
Objectives:- Attendees will be better positioned to implement new IFRS standards.
- Attendees will be able to differentiate between GAAP and IFRS.
- Attendees will be able to plan for IFRS implementation.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
607 Tax Financial Accounting and Reporting Update
Session Leader
Panel Members
This panel will provide an update on tax accounting developments in GAAP, STAT and IFRS including a discussion of any current issues.
Objectives:- Have an awareness of the basic issues arising from tax accounting developments in GAAP, STAT and IFRS.
- Understand the significant tax considerations surrounding accounting developments in GAAP, STAT and IFRS.
- Understand the similarities and differences between basic tax accounting concepts in GAAP, STAT and IFRS.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
608 Optimizing Claims: Harnessing Quality Management & Predictive Modeling to Improve Profitability
Session Leader
Panel Members
Settling claims and administering reinsurance are inherently complex processes. Leakage occurs when you pay too much for a claims, or do not get the full benefits of your reinsurance protections. This presentation will focus on demonstrating how leakage occurs, how and where to find leakage, and possible ways to minimize or eliminate leakage from your claims and reinsurance processes. Specific examples will be given for leakage on both primary claims as well as reinsurance administration. Learn how to improve your company’s bottom line results while getting additional data to drive business decisions.
Objectives:- Attendees will be able to identify sources of potential reinsurance claims leakage.
- Attendees will learn potential remediation steps to reduce, eliminate, and remediate reinsurance claims leakage.
- Attendees will gain increased knowledge of the communication needed between claims management and reinsurance processing.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
621 Developing Strategic Leadership Skills for Financial Professionals
Session Leader
|
Cathy Ellwood, Ellwood Enterprises, L.L.C.
|
Panel Members
The role of the CFO has changed dramatically and as a result CFOs have become more active in shaping strategy. Although they have been quick to embrace this role, they have started to recognize that many of the skills that exist within their own organizations are no longer sufficient. As a result, the need to develop future leaders who are prepared to assist the CFO in influencing the business and driving change has become a top priority for many.
This session will help current and aspiring financial leaders prepare themselves to assume increasing levels of responsibilities. It focuses on how the role of finance is changing and the competencies needed for the future. It’s designed to help leaders develop and demonstrate these competencies in their current roles so that they can become more promotable.
Objectives:- Understand how the role of Finance is changing
- Learn strategic leadership competencies
- Learn financial disciplines
- Learn techniques for increasing one's readiness as a financial leader
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
671 If You Build it They Will Come?
Session Leader
|
Kimberly Tambo, Cover-All Technologies, Inc.
|
Panel Members
|
Jeff Bemis, Secura Insurance Companies
|
|
Ernie Pearson, Secura Insurance Companies
|
Perhaps in the insurance market, “If it’s easy to use and enables agents to provide outstanding service and value to their customers – they will come” is probably more applicable, especially when it comes to commercial lines. Often, field agents shy away from writing commercial business as it is perceived as too complex and turnaround times are too long. Putting in place intuitive products with the right technology that are easy to use and get agents what they need instantly can mean the difference to your top line growth. More than just offering a “me too” agency portal on the web, it’s enabling the entire value-chain of Agent, MGA and Carrier. Join this session to learn how the right technology is significantly reducing unnecessary complexity of commercial lines, reducing costs, improving service, eliminating delays, improving collaboration and introducing new value for customers resulting in top line growth and underwriting profitability.
Objectives:- Grow your top line through distribution channel with intuitive product design without adding yet another layer of an agency facing system
- Improve collaboration and relationship management throughout the channel
- Improve operational effectiveness while increasing underwriting profitability
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
672 Around the Horn: Insurance Analysts Debate
Session Leader
|
Jack Calbrese, Liberty International Underwriters
|
Panel Members
|
Deb Smallwood, SMA
|
|
Craig Webber, Celent
|
|
Matthew Josefowicz, Novarica
|
|
Kimberly Harris-Ferrante, Gartner
|
Established by ESPN as a quick-fire, topic-driven panel debate, this session takes "Around the Horn" to the insurance analyst community. With only minutes to provide an initial response to the moderator's challenge points, clarity, focus and a defined point-of-view will be critical to this discussion. Whether weighing in on trends in the industry such as mergers and acquisitions, core legacy systems replacement, the emergence of best-of-breed or componentized suites, the move toward cloud computing platforms and the advantages and disadvantages of mobile devices for the insurance community, or providing perspectives on insurance technology topics such as the value of PMOs, legacy modernization strategies, implementation methods and best practices, look for these panelists to be both controversial and provocative. Plus, through a real-time polling feature, attendees will have the opportunity to rate analyst responses. It's a full-on race to the finish line and the course of the discussion is charted by you!
Objectives:- After participating in this session, attendees will be able to identify the top emerging technologies analysts are predicting will impact the industry in the coming year.
- After participating in this session, attendees will be able to explain which trend will have the biggest impact on their company-specific situation.
- After participating in this session, attendees will be able to explain which analyst firm they most identify with philosophically.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
673 Mining Social Data to make Informed Risk Evaluations
Session Leader
|
Steven Korow, Decision Research Corp
|
Panel Members
|
Michael Stahl, Unitrin Direct
|
There is a wealth of data on the internet that is not being utilized for its value in underwriting and fraud detection tasks. Being able to quickly collect and sift through an enormous amount of data to pick out the nuggets of information that can help to identify a poor risk candidate or a possibly fraudulent claim is invaluable. Companies are starting to use tools which can easily harvest policyholder data from Facebook, Twitter, LinkedIn, etc. to flag individuals which may require a higher level of scrutiny. Because of the amount of raw data available, the process of sorting it and identifying valuable information requires specialized tools. See how carriers are efficiently collecting relevant data to assist them in the underwriting and claims processes.
Objectives:- How to manage the enormous amount of data collected to make informed decisions
- How to separate good data from noise when mining social networks.
- How to integrate social data into the underwriting process.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
674 Business Analytics as an Enterprise Asset
Session Leader
|
Peter Marotta, Insurance Services Office
|
Panel Members
|
Craig Bedell, IBM - Business Analytics & Optimization
|
|
Stephen Applebaum, Aite Group
|
|
Paul Friedmann , Great American Insurance Group
|
Hear about how business analytics has begun to become a central theme for many insurance companies. Explore with this panel of experts and practitioners examples of where financial performance management, business intelligence, predictive analytics and even social media analytics are converging. Learn how some carriers are using analytics as a competitive advantage while others struggle to maximize their return on investment. The panel will discuss and illustrate examples of analytics making a difference in client servicing; customer retention and growth; claims excellence; customer segmentation and product performance management.
Learn about the best practices for establishing an analytics agenda; nurturing the culture necessary for it to thrive; and reap the rewards of an extended corporate capability. Imagine the results if you don't.
Objectives:- Attendees will be able to describe the types of analytics being used in the insurance industry
- Attendees will be able to understand how analytics are being used as a competitive advantage
- Attendees will be able to cite specific examples of analytical applications
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
675 Best of Breed: The Evolution from Component to Suite
Session Leader
|
Steve Horneman, StoneRiver
|
Panel Members
|
Larry Monroe, Georgia Farm Bureau
|
|
Boyd Fittes, StoneRiver
|
|
Harold Williams, Western Computer Services
|
One of the basic enterprise system replacement decisions has historically been between “best-of-breed” and “all-in-one” solutions. Best-of-breed solutions tout quicker payback but add to implementation times while making long-term maintenance and integration with other systems more complex. All-in-one offerings have longer implementation times but reduce flexibility and can limit future expansion. A new option – the enterprise suite – offers the best of both while minimizing the drawbacks of each.
The panel for this session will discuss best of breed vs. all-in-one offerings, and why they chose a third option: an enterprise suite. This enterprise replacement choice delivers the tight integration and common services of an all-in-one solution but can be implemented sequentially like best-of-breed components. This offering provides the benefits of both older choices, including implementing one solution set in phases with less overall risk, results seen sooner, and dealing with a single solution from one provider.
Objectives:- Attendees will be able to identify the characteristics of the various solution offerings.
- Attendees will be able to identify the relative merits of each approach.
- Attendees will be able to evaluate the various approaches against their specific needs.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
676 SaaS vs. Cloud for Core Systems: What's the Difference
Session Leader
Panel Members
|
Raymond Siebert, Glencar Underwriting Managers
|
|
Karen Furtado, SMA (Strategy Meets Action)
|
|
Steve Francis, Dovetail Insurance
|
|
Kevin Mason, Instec
|
|
Chad Yearwood, American Farmers & Ranchers
|
|
Colin Cole, Microsoft
|
This session demystifies the different methods of IT service delivery that insurers are using to gain flexibility at a lower cost. Cloud Computing enables advances that would have been unimaginable just a few years ago. The session explores how insurance carriers are deploying innovative models such as Software as a Service (SaaS), hosted services, and managed services to achieve business results in record time. Availability of fully functional advanced technology infrastructures allows insurers to replace aging legacy policy and claims administration systems with extremely cost effective alternatives to in-house software implementations.
Two case studies will be presented discussing their experiences in taking advantage of core (policy administration/rating/claims) systems through SaaS and Cloud models. A panel discussion will follow with experts in both delivery models discussing the latest trends in platforms such as Microsoft Azure.
Objectives:- Discuss how Cloud Computing and SaaS models differ from traditional hosted application outsourcing offerings
- Explore real world deployments of insurance technologies in the various models
- Evaluate cloud computing’s ability to increase ROI, decrease TCO, speed development, and increase the perception of IT in insurance companies
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
701 NAIC Accounting Update
Session Leader
|
Dan Buttke, Baker Tilly Virchow Krause
|
Panel Members
This session focuses on recent guidance and intepretations adopted by key working groups of the NAIC's Financial Condition (E) Committee - the Emerging Accounting Issues Working Group and the Statutory Accouting Pricniples Working Group. Topics are timely for controllership and accounting staff and will include updates on all current SSAP's.
Objectives:- Attendees will be able to describe new accounting guidelines applicable to their company.
- Attendees will be able to plan for newly exposed guidance and determine potential impact.
- Attendees will be able to evaluate current hot topics in ergulatory accounting that may impact their company.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
702 Visibility Across the Enterprise: From Core Systems to Enterprise Financials
Session Leader
|
Deborah Rose, Atlantic Coast Life Insurance Company
|
Panel Members
|
Karen Furtado, SMA (Strategy Meets Action)
|
|
Donald Doyle, Cincinnati Insurance Companies
|
|
Miloje Stefanovic, Achmea
|
|
Robert Cummings, SAP AG
|
A well-executed core systems replacement strategy that considers the needs of the entire organization results in improved visibility, better decision making and reduced costs. Many insurers are replacing or planning to replace core systems and would benefit from a more holistic view. In this moderated panel discussion, hear from insurers who have implemented or are in the process of implementing an end-to-end insurance platform that goes beyond policy, billing and claims. Learn how this strategy benefits the entire organization:
- CIO: true integration, single platform roadmap, scalability and support;
- COO: operational efficiency, time-to-market, business intelligence;
- CFO: real-time financials, end-to-end auditing, easing new regulation;
- CEO: time-to-market, enterprise-wide business intelligence.
Objectives:- Learn the best way to approach core systems replacements (NASBA - Business and Environment Concepts (BEC))
- Learn about the ROI and benefits of replacing core systems with an enterprise-wide holistic view (NASBA - Business and Environment Concepts (BEC))
- Learn best practices from insurers who have successfully replaced their systems (NASBA - Business and Environment Concepts (BEC))
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
703 Finance: Forgotten Shareholder
Session Leader
Panel Members
More times than not, a project that brings new technology or functionality to an insurance carrier is driven by a business unit other than the Finance/Accounting unit. And, since Finance is not in on the ground floor discussion, the impact to their processes may not be addressed properly. Obviously, this omission can have a huge impact to the overall business. Further, with business intelligence effecting speed to market and investment decisions for company boards, access to interpretive data is becoming more of a competitive advantage. This session is an informative discussion of why it is critical to include accounting and finance business users up front in technology projects. Here, the emphasis is placed on understanding the importance and far reaching impact of technology on Finance. Our goal is to provide finance/accounting business users actionable takeaways to use when the next project comes along.
Objectives:- Discover why Finance is a key stakeholder in technology projects
- Learn why Finance is often overlooked in technology projects
- Learn what Finance should do to influence technology projects
- Learn key questions Finance should ask potential vendors
- Discover key requirements Finance should insist on covering up front
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
704 The Pivotal Role of Your Custodian
Session Leader
|
John Harrington, U.S. Bank Institutional Trust & Custody
|
Panel Members
Your custodian should work with you and provide quick, timely and accurate reporting of your assets. This session will provide the inner workings of trade flow and settlement, the importance of proper account set up and the necessity of interfaces with other accounting systems. Industry peers will share their (and your) struggles and accomplishments and how a good custodian helps them achieve their goals.
Objectives:- Improve oversight of investment portfolio. Custodial offerings should include the ability to view and download holdings via an interface with your accounting system
- Evaluate and Differentiate between custodians. This session will provide clues on what to ask your current/future custodian in terms of services, offerings, etc.
- Calculate and measure investment performance. Custodian provides you with a third party verification of investment performance
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
705 Principles-Based Reserving: The Future is Near
Session Leader
|
Norlyn Baker, Eide Bailly LLP
|
Panel Members
For several years, the NAIC has been working on the logistics to changing the reserving methodology for Life products. Principles-based reserving (PBR) for Life products is now nearing implementation. PBR will include a new valuation manual and the reporting of information to a statistical agent. The NAIC adopted the Standard Valuation Law in late 2009, but postponed implementation until the completion of the Valuation Manual. The manual is now near completion, with a current NAIC goal of adoption by the 2012 NAIC Fall National Meeting. An industry study was completed during the fourth quarter of 2011. Statistical agent policy decisions are expected during the first half of 2012 and implementation plans from various NAIC technical groups are expected by March 2012.
This session is a must to attend for those companies with Life products. Don’t be caught unaware of the changing Life reserving environment.
Objectives:- Participants will receive knowledge of the current status of PBR including the actuarial process & implementation, NAIC proceedings & industry adoption.
- Attendees will be able to determine how PBR will change the reserving process, the rationale for the change and how this reserving method works.
- Attendees will be able to evaluate the impact of PBR on the life industry, what future reserving will look like, and the impact on their premiums, profit and personnel as a result of switching to PBR.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
706 IFRS Misc Topics - Revenue Recognition, Leases, OCI, etc.
Session Leader
|
Michael Monahan, American Council of Life Insurers
|
Panel Members
|
Michael Monahan, American Council of Life Insurers
|
Provide key information on each of the major accounting topic areas at the FASB and IASB, specifically, Revenue Recognition, Leases and OCI.
Objectives:- Discuss current status of Revenue Recognition.
- Discuss current status of Leases.
- Discuss current status of OCI.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
707 Tax Information Reporting Update
Session Leader
Panel Members
|
Kevin Shimkus, Deloitte Tax LLP
|
This session will discuss many of the new federal regulations in the past year that impact insurance companies. From the Dodd-Frank Act to the Patient Protection and Affordable Care Act to any of the other legislation, we will cover what has happened in the federal arena impacting insurance companies.
Objectives:- This course will allow the attendees to understand the new federal legislation impacting insurance companies.
- Attendees will be able to assist in implementing changes in internal processes based on the legislation changes.
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
708 Reinsurance Accounting: Calculating Technical Results
Session Leader
Panel Members
This session will focus on the basics of accounting for property/casualty and life/health reinsurance on both a statutory and U.S. GAAP basis. The primary emphasis will be on the calculation of reinsurance results based on various contract provisions, including examples of the impact on a company’s financial statements. There will be a discussion of the differences between the accounting guidelines and required disclosures under both statutory and U.S. GAAP accounting rules. Attending sessions 108 "Reinsurance 101: The Basics of Reinsurance" and/or 508 "Reinsurance Contracts: Common Terms and Clauses" will be helpful but is not required.
Objectives:- Attendees will be able to utilize various reinsurance contract clauses to calculate the results
- Attendees will be able to assess the impact that various types of reinsurance has on their financial statements
- Attendees will be able to identify the difference between GAAP and statutory accounting
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|
771 IT TOWN HALL
Session Leader
|
Rod Travers, Robert E. Nolan Company
|
Panel Members
|
Karen Furtado, SMA (Strategy Meets Action)
|
|
Dick Hoye, Arrowhead Insurance Group
|
|
Ara Trembly, Ara Trembly Technology
|
|
Boyd Fittes, StoneRiver
|
Let your voice be heard in the IT Town Hall’s open forum discussion. Technology marches on, regardless of lean budgets and industry turmoil. Mobile technology, outsourcing/insourcing, modernization, and talent management are just a few of the many priorities for IT leaders. Join us as a panel of industry professionals along with outspoken audience members will answer your questions and share their experience managing insurance IT. Don’t miss this perennial favorite!
Objectives:- Describe present-day IT challenges including innovation, talent management, and cost control
- Improve the business / IT working relationship at your company
- Define the role technology should play in helping insurers improve service, quality, and costs
| Draft reviewed:
No |
Presentation Materials Sent:
No |
|