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EAA
Newsletter |
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Explore
Our Newest Training Opportunities |
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We're happy to share with you the latest additions to our training
schedule for 2025, as well as a newly rescheduled session from 2024
(perhaps this date works better for you - details below!). These
trainings are designed to keep you up to date with essential
knowledge and skills. Covering a wide range of topics, they offer
great opportunities to expand your expertise while meeting your CPD
requirements. |
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February 2025 Trainings Now Open for Booking! |
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We are pleased to announce that previously shared February 2025
training sessions are now open for booking on our website! Many of
you have been eagerly awaiting this update, and you can now explore
the full details and secure your spot in the following sessions:
Don't miss the opportunity to book early and take advantage of our
Early Bird Discount. By registering now, you secure your place and
enjoy additional savings on these valuable professional development
opportunities. |
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| Discrimination-Free
Pricing: of Limits & Possibilities |
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Not only upcoming regulation plays a role - fairness
of treatment lies at the core of insurance in the first place. In
the age of Machine Learning and Artificial Intelligence, analysis
and, potentially, remedy, of direct and indirect discrimination in
insurance decision making - most notably pricing - has become a
more pronounced problem due to increased public interest. But in
stark contrast to, say, chatbots or personal assistance systems,
there are structural aspects preventing companies from creating and
maintaining products that are comprehensively fair in all the
relevant facets.
The purpose of this session is to introduce relevant concepts of
pricing and discrimination therein as well as an overview of
discrimination-reducing concepts from the literature. We will then
draft some toy models, including generation of synthetic data with
particular properties. Afterward, we will review limits and
possibilities toward enabling (some kind of) less-discriminatory
pricing.
further details
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| Climate
Risk Stress Testing for Physical Risk from Natural
Hazards |
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Methodologies on Climate Scenario Analysis for
insurers have been developing rapidly over last years. Ongoing
attention by all stakeholders, pilot exercises all over the world
and a substantial increase in awareness towards climate-related
risks have incited insurers to develop and refine their stress
testing capabilities on climate-related risks.
In this session, we will focus on the practical aspects of
physical climate risk modelling and scenario analysis for insurers,
providing a step-by-step walkthrough on key elements of such an
analysis based on a case study. Specifically, we will discuss and
illustrate hands-on approaches on modelling damages on
location-based portfolios, such as real estate asset or property
insurance portfolios. We will present results from case studies on
damages from flood, hail, wildfire, and tropical cyclones for
selected countries, leveraging peer-reviewed public data.
Furthermore, we will discuss the challenges on application for
insurers, and also highlight key assumptions, limitations and
uncertainties accompanying this assessment.
further details
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| Risk
Mapping for Social Security Pension Systems |
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Our aim is to provide social security actuaries and
other interested experts with a coherent and adaptable method to
manage the risks that pension systems inherently entail.
While all enterprises and institutions have governance and
organisational structures, what sets pension systems apart is their
individual mission and approach to fulfilling it. Based on these
unique characteristics, we have defined a new approach for the main
risk categories for all organisations as governance and
organizational structures, own specific business, and operations of
these organisations. The general ERM approach has served as the
common starting point in finding the similarities and differences
between pensions and other financial institutions: their processes
and methods are similar, but the objectives differ.
Pension funds as financial institutions trade in risk and money,
collecting contributions, and paying out pension benefits. A
multi-pillar system is an old-age risk management tool as it is. In
a three-pillar pension system, the pillars are usually defined by
their adequacy objectives and risk appetite of the targeted
socio-economic group. By including affordability and robustness in
the definition, we have arrived at the core concept of the COSO
risk framework with appetite/tolerance and performance/target
coordinates. This strategic integration not only enhances our
understanding but also facilitates the systematic development of a
Risk Management Framework tailored to social security pension
systems.
Establishing a Risk Management Function and a regular Own Risk
Assessment reporting framework would be beneficial for Social
Security Administrators. Actuarial reviews of the financial health
of social systems are contributing to risk monitoring and risk
mitigation. A holistic approach to risk management will ultimately
result in better government and improved benefits for social
security systems.
further
details
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| CERA,
Module C: Processes in ERM |
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We offer a series of four training courses and exams
(through DAV) to all actuaries who want to deepen their knowledge
in Enterprise Risk Management and gain the international
ERM-credential CERA.
This module deals with the challenges of implementing ERM
Processes. It includes requirements on ERM Processes and the
discussion of best practices. It will be presented how to define an
organisation's risk strategy, risk appetite, risk tolerances and
limits. We discuss how business strategy influences risk strategy
and show their necessary interaction. We demonstrate the close
relationship between ERM and Value and Risk Based Management and
show how financial and other risks influence the selection of
strategy. We show how ERM can be appropriately imbedded in an
entity's strategic planning and discuss the Own Risk and Solvency
Assessment. We present the application of an internal risk control
process. In the context of ERM reports to different stakeholders
are required (management, supervisory body, regulators, public
disclosure). We give an overview of the different reports and the
main contents. Further we show examples of communication processes
in the context of ERM. During the web session we present case
studies to discuss the main subjects.
further details
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| CERA,
Module A: Quantitative Methods of ERM |
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The 4-day web session assists actuaries in broadening
their knowledge about modern quantitative financial and actuarial
modelling; these topics form an essential part of the CERA
syllabus. At the beginning of the online training we give a brief
overview of the EAA-route to the CERA designation. The core part of
the web session begins with an introduction to the modern theory of
risk measures. Next, a number of statistical techniques are
discussed, that are highly relevant for the analysis of actuarial
and financial data and for the model-building process in risk
management. Among others, we will consider extreme value theory,
dependence modelling, copulas, and various aspects of integrated
risk management. The training continues with an introduction to the
modelling and the management of interest rate and credit risk. In
particular, participants will learn how to price simple interest
options or Credit Default Swaps, how to account for
counterparty risk and how to deal with credit portfolio risk.
The web session consists of lectures and exercise sessions. In
fact, exercise sessions, where various exercises and supplementary
examples are discussed, form an integral part of the seminar: they
help the participants to understand the qualitative and
quantitative techniques introduced in the lectures, and they are a
key element in the preparation for the CERA exam.
further details
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| CERA,
Module D: ERM - Economic Capital |
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The present training is concerned with the question of
economic capital in corporate management.
Key aspects are:
- economic valuation and performance
- economic steering
- key performance indicators
- value based management
A simplified case study for a life insurer shows in a nutshell the
central aspects of corporate management in practice. The course
consists of lectures and workshops. Participants are encouraged to
bring their own topics to discussion.
further details
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Further Trainings in
2024 |
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24/25 October
2024
LLM Principles and Case Studies for
Insurance
further details
28-31 October 2024
Communication for
Actuaries
further details
4 November 2024
System Migrations of Life Insurance
Contracts: DON'T JUST MIGRATE
further details
5 November 2024
Predictive Modelling in the
Insurance Sector
further details
6/7 November 2024
Emerging Risks: Statistical Analysis
and Scenario Building
further details
8 November 2024
AI in the Health & Life
Sciences: Ethical Challenges of Big Data
further details
12 November 2024
Artificial Intelligence Act: The
Insurance Fallout - Overview
further details
13 November 2024
Socio-Economic Mortality
Curves
further details
14/15 November 2024
Hands-on Adaptive Learning of GLMs
for Risk Modelling in R
further details
20 November 2024
IFRS 17 Risk Adjustment: Practical
Approaches & Lessons Learned
further details
21/22 November 2024
Cyber Risk and
Insurance
further details
... and a lot more! Explore our website for more
information. |
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