Reinsurance Class of Excellence, Virtual

Upon completion of this course, you will

• Define Nat Cat risk pools, detect industry challenges in the changing risk landscape, observing the development of second perils in underwriting and know how Nat Cat risk premiums are calculated using probabilistic or base-rate approaches.
• Allocate and compute premiums and claims in various accounting systems and see the effect when these are accounted for under the different/relevant type of reinsurance treaty both proportional and non-proportional.
• Recognize the importance of reserving for bodily injury and latent claims and how these are handled through different calculation methods.
• Discuss the impact of important contractual clauses in the insurance/reinsurance wordings on claims to understand potential misinterpretations.

To successfully navigate this course, you are expected to

• have experience of placing your reinsurance programme and calculation of premiums, costs and losses under the different types of reinsurance contracts.  
• be familiar with some reinsurance clauses which may have an impact on claims.

Onboarding sessions:             
23 August 2023, 09:00 a.m. – 09:30 a.m. CEST or 24 August 2023, 09:00 a.m. – 09:30 a.m. CEST (please choose either one)

Agenda:
Monday, 28 August, 08:30 a.m.  – 12:30 p.m. CEST
Wednesday, 30 August, 08:30 a.m.  – 12:00 p.m. CEST
Friday, 1 September, 08:30 a.m.  – 11:00 a.m. CEST
Monday, 4 September, 08:30 a.m.  – 12:00 p.m. CEST

The event may be photographed, videotaped, filmed and /or digitally recorded. You consent to Swiss Re's use, free of charge, of any memorialization of the event in which you may appear for any Swiss Re publication or promotional purpose.

Technical check and programme overview

In this onboarding session, we do a quick technical check with all participants, introduce our facilitator team, present the programme overview, and answer any questions you may have.

Natural catastrophes – the reinsurance perspective

We dive into the world of (re)insuring natural catastrophes. We will talk about the various perils and approaches to calculate risk premiums. Probabilistic models are complex tools that we want to make understandable, without going deep into technical details. We will discuss relevant model inputs, assumptions, and see why underwriting expertise remains indispensable. We also touch on the changing risk landscape, including the role of climate change and other macro trends.

Reinsurance technical accounting

This training provides an overview of reinsurance technical accounting, covering the basic reinsurance agreements (Facultative/Treaty) and explaining its different types. We will cover the principles of the accounting systems (Underwriting Year, Accounting Year, Occurrence Year). At the end of the session, we will briefly share digitalization and standardization solutions/benefits.

Claims reserving for insurance

First, a re-visit of non-life reserving methodologies will lead to digging into real-life examples on current topics. The importance of actuarial reserving for the long-term success of fintech startups will be discussed with a hands-on example. Furthermore, using an overview of reserving for bodily injury claims, the dynamics of long-tail reinsurance and insurance segments will be illustrated. Current latent claims trends and phenomena like social inflation and nuclear verdicts will be hot topics. Finally, the importance of the feedback loop between the claims, underwriting and reserving functions will be highlighted.

08:30 a.m. - 12:00 p.m. CEST

Impact of contractual clauses on claims

There are some clauses used in insurance/reinsurance contracts which may cause some disputes. In this session, we will discuss some of these clauses to understand their impact on claims as well as to reflect on potential differences between insurance and reinsurance.

12:10 p.m. – 12:30 p.m. CEST   Wrap up and feedback