A2ii-IDF Workshop on Risk Modelling for Insurance Supervisors
Risk modelling is at the forefront of reshaping the risk management landscape. In recent years, it has witnessed remarkable advancements driven by the exponential growth in data, enhanced data analytical capabilities, and timely access to relevant information. As the risk modelling landscape evolves, it paves the way for innovative risk financing and risk mitigation programs. To navigate this dynamic landscape, we invite insurance supervisors to participate in our upcoming virtual workshop on Risk Modelling organised in collaboration between Access to Insurance Initiative (A2ii) and the Insurance Development Forum (IDF).
Session 1: Overview of the Evolution of Risk Modelling
- Date: November 29th
- Time: 12:30 – 14:00 CET
In the first session, we will embark on a comprehensive journey through the evolution of risk modelling. Our expert speakers will shed light on the key components of a risk model, providing a foundational understanding of its structure. Moreover, you will gain insights into the diverse applications of risk models, including risk transfer, solvency and stress testing for financial institutions, and the various risk mitigation measures they enable. This session will equip you with a solid grasp of the fundamental principles underpinning risk modelling.
We will be joined by Ehosuehi Iyahen, Secretary General of the Insurance Development Forum and Janina Voss, Interim Head of the A2ii Secretariat, who will welcome the session. Following introductions, Miroslav Petkov, Senior Policy Advisor at the IAIS and Bill Marcoux, Chair of the Law, Regulation and Resilience Policies Working Group at IDF, will present on the value of understanding climate and disaster risk relating to supervisors' roles in the development of markets and addressing the protection gap.
Afterwards, a presentation on the perspective of supervisors on using climate and disaster risk analytics will be given by Tomás Soley, from the Superintendencia General de Seguros de Costa Rica (SUGESE).
Lastly, a discussion on the key aspects of catastrophe risk models, including best practice uses will take place, which will be presented by Emma Watkins, Head of Exposure Management at Lloyds, and Marie Scholer, Expert on Policy Sustainable Finance, European Insurance and Occupational Pensions Authority (EIOPA).
Session 2: Risk modelling and the key role of supervisors
- Date: December 7th
- Time: 12:30 – 14:00 CET
The second part of this series will build on the previous workshop. This session will have an introduction to risk analytics principles and approaches by Stuart Fraser, Technical Lead, Risk Modelling Steering Group at IDF, followed by a presentation on the examples of risk modelling for supervisory purposes by Dickie Whitaker, Chief Executive at Oasis Loss Modelling Framework, Dr. Nihar Jangle, Advisor, Climate Risk Insurance (GIZ) and Andrew Dhesi, Group Head of Property Modelling, Renaissance Re. Lastly, the session will end with an open forum moderated by Pascale Lamb, Advisor at the A2ii, and Miroslav Petkov, Senior Policy Advisor at the IAIS.
This workshop is exclusively for insurance supervisors.
