Description: Enterprise Risk Management is often thought to be synonymous with managing an insurance company toward financial objectives with a focus on insurance-specific risks. Some might argue though that operational risks are the crux of all risks confronted by an insurance company and ultimately drive the company’s outcomes.Operational risk is the risk of impact on financial outcomes due to operational events, involving internal systems, personnel, procedures or controls, and also external events. Operational risk exists in all business activities, covering fraud, human error, accounting errors, legal actions and system failures. All of these activities could occur during the course of conducting day-to-day business operations. Additionally, insurance executives must consider the pace of change in the external environment and potential impacts on their business. This presentation is focused on operational risks, current and emerging, faced by health insurance companies.

Description: Panel dicussion on the need for information to keep a block of long-term care insurance profitable: what the business risks are, what is being done to mitigate them, what kind of reports are needed, and how these differ from reporting on other types of health insurance.

Description: This presentation outlines one company's approach to enterprise risk management and how it is used to monitor and control operational risk.

Description: Presentation from the Actuarial Research Conference describing risk management at a leading Canadian Bank.

Description: Presented at May 1996 Spring Meeting. Explores some of the current best practices and provides insights on improving the process so that it is faster and cheaper.

Description: Presented at May 2000 Spring Meeting. Discusses common problems in creating a successful merger - such as not incorporating community support, and not achieving economies of scale - and how to avoid them.

Description: Presented at May 1985 Spring Meeting. This session discussed: Hurdle rates, Internal rate of return, Payback, Net present value, Lease versus buy decisions, Build versus buy decisions, Application to computer hardware and software decisions, Project budgeting, Post-implementation audit.

Description: Discusses the successes and difficulties companies have had with the plan, methods most successful in securing bank cooperation, legal issues, persistency experience, etc.

Description: This discussion reviews what companies have done to control and reduce expenses of various types. It also discusses budgeting approaches.

Description: This discussion examines the relationship of Operations Research to the actuarial profession, the extent traditional actuarial work can be regarded as Operations Research, types of life insurance company problems lending themselves to Operations Research study, and the relationship of electronic data processing field to Operations Research.