By Enrique de Alba
The 38th ASTIN colloquium took place in Manchester, U.K. on July 13–16. ASTIN, the section for Actuarial STudies In Non–life insurance, was created in 1957 as the first section of the International Actuarial Association (IAA), for non–life (or general insurance or property–casualty) actuaries and researchers worldwide. Its annual colloquium brings together academics and practitioners with mutual interests in the field of non–life insurance and insurance enterprise risk management.
The program included the following keynote speakers: Professor Julia Slingo, University of Reading, U.K.; Professor Christian Genest, Laval University, Canada; and David Ingram, Willis Re Inc, New York. Prof. Slingo talked on climate change and its impacts, emphasizing those that are likely to be of particular interest to actuaries. Prof. Genest's presentation was on Accounting for Extreme–Value Dependence in Multivariate Data and in it he described how to test, measure and account for extreme dependence from a copula modeling perspective, and how it is relevant for analyzing insurance claim data. The title of Mr. Ingram's talk was Economic Capital, Enterprise Risk Management and Insurance Ratings, during which he reviewed the objectives, standards and process used to assess insurer economic capital models, as well on the sufficiency of economic capital within an ERM program.
There were more than 180 participants and over 35 submitted papers were presented in six sets of concurrent sessions. The topics of the sessions were the following:
- Climate Change and its Impacts
- Modelling and Model Risk
- Emerging Risks
- The Actuary's Toolkit: Software
- Claims Development Process and Loss Reserving
- Dependence Modelling
- Capital Allocation and Finance
- Statistical Modelling and Insurance
- Solvency II and Risk
- Statistical Modelling and Ratemaking
- Economic Modelling in Insurance
- ERM and Catastrophes
- Solvency II and Internal Models
The last day of the Colloquium there was a general roundtable discussion on "Education for Risk Management."
The Colloquium was held in the beautiful Victorian Manchester Town Hall. The event included a half day outing to Tatton Park and the historic town of Chester.