2017 Conference

Wednesday, May 24, 2017 - Metro Toronto Convention Centre

CIFF 2017 RIBO accreditation: 

6 hours Management + 1 hour Technical

Registration and Breakfast  7:30 - 8:30 am - sponsored by EY  

Welcome and Acknowledgements 8:30 - 8:35 am

Graham Segger
2017 CIFF Emcee

Review of Industry Results and Outlook 8:35 - 8:45am
  From his vantage point at MSA, Joel will share his reflections on last year and the unfolding industry picture for 2017 and beyond.

Joel Baker
President & CEO,
MSA Research Inc.

View from OSFI 8:45 - 9:15am
Moderator: Panelists:
Steve Lee
Partner,
EY
Jeffrey Muller
Insurance Modeling Specialist,
OSFI
Christopher Townsend
Senior Director, Actuarial Division,
OSFI

OSFI's role in supervising the Canadian insurance industry is of vital importance. In this session, senior officials from Capital and Actuarial will describe and explain their views on developments in upcoming changes to the MCT, IFRS and updates on DCAT/ORSA. The panelists will take questions at the end.

Perspectives on the Canadian Reinsurance Scene After a Rough Year 9:15 - 10:15am
Moderator: Panelists:
Stanley Fung
VP, Finance and CFO
SCOR Canada Reinsurance
Jonathan Stephenson
EVP,
Aon Benfield
Monica Ningen
Managing Director,
Chief Property Underwriter,
US & Canada
Swiss Re
Michael Brisebois
Global Head of Reinsurance,
TD Insurance

The supply and demand of reinsurance: How did you adjust your pricing after the largest Catastrophe in the Canadian market? Was the market disciplined during January 1, 2017 treaty renewals? Are insurers bridging the coverage gap and what about the reinsurance coverage gap? What about the pricing gap? Can the reinsurance market sustain another large catastrophe in three years? With the cat losses of recent years, does Canada still represent global risk diversification for reinsurers? Why are the regulators interested in the structure of reinsurance arrangements and who participates? Should there be renewed interest in the evaluation of insurers’ reinsurance programs (risk appetite, retention, limit, coverage)?

Away from the ubiquitous topics of disruption, cyber and emerging risks, reinsurance in Canada seems to be holding to its usual lines of business, apparently wanting of growth opportunities and suffering extended competitive conditions. Please join us as our expert panel comprised of reinsurance buyer, reinsurance broker and reinsurer provide their insights on these and other key issues, challenges and uncertainties facing the reinsurance industry.

Networking Break 10:15 - 10:45am - sponsored by ClearPay 
Beyond Bitcoin: Blockchain's Growing Impact on the Insurance Industry 10:45 - 11:30am
Introduction by: Speaker:
Nick Creatura
President & CEO,
CNA Canada
Leanne Kemp
Founder and CEO,
Everledger

The insurance industry is just waking up to the potential uses of blockchain technology. Beyond cryptocurrencies, the benefits of joint record keeping and verification of assets are set to have far reaching implications on the insurance industry from simplifying claims processes to re-configuring risk assessment.

In this session, Everledger's CEO and Founder Leanne Kemp will unpack how digital trust is set to transform the insurance industry and the future implications of an iOT enabled world.

Data Analytics, Data Science, Big Data 11:30am - 12:30pm
Moderator: Panelists:
Walter Fransen
SVP and Chief Actuary,
Liberty International Underwriters

Jonathan Frost
SVP,
GC Analytics,
Guy Carpenter
Kevin Huang
Founder and CEO,
Huang & Associates Analytics Inc.
Wei Pan
Manager,
 Advanced Analytics,
TD Insurance
Jeff Turner
SVP and Managing Director for Toronto,
Beach & Associates

Data science is not new. It has been around in one form or another for thousands of years, going back to the ancient Chinese astronomers. Nowadays it's used everywhere, not just insurance, due to the recent enormous scientific and technological advances in computing speed, data processing and storage capabilities, and measurement technology. These developments are making it possible to analyze and understand insurance risk in a much more sophisticated way than ever before. Add into the mix, the development of mathematical algorithms that enable machine learning. One example is Bayesian probability models, built on the concept of learning from the data, instead of relying only on a predetermined priori model.

This new technology does not just enable better analysis and understanding of insurance risk, but is already being used to mitigate risk (some early examples being telematics, bio-monitors, stochastic adaptive control systems) leading to a new field called actuarial engineering. In the future, this has the potential to entirely change the loss process itself, which will obviously have a major impact on the insurance industry.

This panel of insurance and reinsurance analytics experts will discuss how they use all these new capabilities, and also, what happens when the data still isn't good enough.

Lunch 12:30 - 1:30pm - sponsored by PwC 
Keynote Luncheon Speaker: It's High Time to Break the Industry-Government Logjam
Scott Tannas
Alberta Elected Senator,
Senate of Canada

It has become common knowledge that Canada's financial sector is dangerously exposed in the event of a "Big Shake" along the BC Coast or in Quebec. Senator Tannas will provide his unique perspective, and make the case for what is necessary to get important regulatory and financial reforms in place in an era of reactive government policy.

AFTERNOON CONCURRENT SESSIONS
Concurrent A:
IFRS 1:30 - 2:25pm
Moderator: Panelists:
Alodie Brew
Partner,
PwC
Jacqueline Friedland
Chief Actuary,
RSA Canada
Jonathan Turner
SVP and CFO,
Swiss Re Canada
Maude Choquette
Vice President,
Finance & Controller,
Intact Financial Corporation
Hudson Lopez
Partner,
KPMG LLP

It is almost here! With just over 20 years of deliberations it looks like the new valuation standard for insurance contracts is on its way to being finalized. This new standard now referred to as IFRS 17 will have a significant impact on the insurance industry. The extent of the impact on the P & C insurance industry although not expected to be as significant as the life industry should not be underestimated. For those of you with contracts that extend beyond one year, long tail settlement claims, contracts acquired in a business combination, profit sharing arrangements or reinsurance contracts, the devil will be in the detail.

As the new standard is expected to be released in the first half of 2017, this session will explore some of the most common questions companies should be asking. Do you understand the impact on your business, processes and controls? How do you effectively communicate these changes to management and to external stakeholders? During this session you will hear what others are doing in the industry in Canada and globally and what are the first steps you should be doing this year to prepare for adoption in 2021.

Concurrent B:
Pricing and Reserving Cyber Risk Products 1:30 - 2:25pm
Moderator: Panelists:
Bill Weiland
Principal,
Eckler
John Elbl
Vice President,
AIR Worldwide
Elizabeth Bart
Consulting Actuary,
Milliman

This session will discuss pricing and reserving of cyber insurance products including the use of deterministic and probabilistic models to gain insights into estimating the claim costs for perils such as security breach liability, security breach expense and business interruption. The session will also focus on the actuarial aspects and challenges of pricing and reserving of cyber risk products including sourcing data, data quality, as well as estimating claim frequency and claim severity.

InsurTech - Here and Now 2:30-3:30pm
Moderator: Panelists:
James Colaço
Partner,
Monitor Deloitte,
Insurance Practice,
Deloitte LLP
Nigel Walsh
Partner,
Financial Services and Technology,
Deloitte MCS Ltd.
Dan Adamson
President & CEO,
OutsideIQ (Artificial Intelligence Underwriting)

InsurTech is taking the industry by storm. Hundreds of startups have sprouted up across the globe and are both looking to help incumbents take their offerings and services to new heights or to totally threaten and upend a complacent industry with revolutionary disruption and dislocation particularly on the distribution front. This panel will be an eye-opener.

Networking Break  3:30-4:00pm - sponsored by KPMG
Financial Leaders Panel 4:00-5:00pm
Moderator: Panelists:
Graham Segger
Retired Partner,
Deloitte
Philip Mather
SVP & CFO,
Economical Insurance
Walter Fransen
SVP and Chief Actuary,
Liberty International Underwriters
Colin Simpson
CFO,
Aviva Canada Inc.

As has been the tradition at this forum, the final session of the day will involve a panel of financial leaders from the insurance industry discussing issues they have identified as of particular interest to the audience. The topics will be selected shortly before the forum to ensure that they reflect the current and relevant matters. The popular armchair format will be used and time will be set aside for questions.

Closing Remarks 5:00pm

RIBO Accreditation:
6 hours Management + 1 hour Technical

Sponsors Deutsche Insurance Asset Management Deloitte TD Securities TD Ernst & Young PWC