2025 SOA Valuation Actuary Meeting: Session 3F: Sea Change as a New Horizon: Tech and Data Adoption Strategies for Offshore Reinsurance-08.18.25-Recording

As the adoption of offshore reinsurance strategies continues to grow among insurers seeking to optimize their capital and balance sheets, a critical focus for both prospective and current adopters is the establishment or enhancement of existing data, technology, and modeling processes to meet offshore reporting requirements. Drawing from practical experience, this presentation aims to provide attendees with key insights for successfully producing the necessary reporting items for offshore reinsurance entities, along with considerations for operational efficiency, model and data governance, and management decision-making. We will delve into the reporting requirements across various offshore regimes and highlight how they differ from those in the U.S. Participants will gain insights into the required data, technology, and modeling components, along with their complexities, to generate essential internal and external reporting items. We will address common pitfalls and challenges encountered during implementation, as well as the aspects that regulatory bodies scrutinize regarding governance and controls. Furthermore, we will explore opportunities for enhancing efficiency by transforming existing processes to meet these new demands. The presentation will also focus on how to tailor the new-found process to enhance management decision-making with respect to risk management, asset-liability management (ALM), and capital optimization. The presentation will leverage interactive polls and Q&As to improve audience engagement. Case studies and real-world solutions related to offshore reinsurance implementations will also be featured, ensuring the content is relevant and practical to all attendees. By attending this session, participants will be able to: - Understand the key differences in reporting requirements between offshore regimes and U.S.-based regulations. - Recognize the essential data, technology, and modeling components necessary for effective offshore reinsurance reporting. - Identify common challenges and pitfalls in implementing offshore reporting processes and learn strategies to mitigate them. - Gain insights into the governance and control aspects that offshore regulatory bodies typically scrutinize. - Discover opportunities for enhancing efficiency when transforming existing processes to meet offshore needs. - Explore data and technology additions that can improve management decision-making in the offshore insurance business.