- 10:30 – Noon | Competing on Analytics
- 2:00 – 3:30 p.m. | Project Management for Actuaries
- 8:00 – 10:00 a.m. | Technology – Is the Insurance Industry Doing Enough?
- 2:30 – 4:00 p.m. | Is Your Information Safe?
- 2:30 – 4:00 p.m. | Information Technology in Financial Reporting
Competing on Analytics
(Monday, October 16, 10:30 a.m. – Noon)
In whatever industry a business trades, there is a set of qualities on which it competes. Competitive differentiation in action might include the leverage of branding, product innovation, core expertise, channel strategy or business model. In every case, companies establish and promote distinct qualities in the ongoing mission of outperforming the competition.
But what happens when traditional differentiation loses its edge over time?
Tom Davenport, author and professor at Babson College argues in a recent report that companies have turned to analytical competition because traditional edges like regulated monopolies or geographical domination have disappeared or are losing value. "I think it's fair to say that product and service innovations are still a good idea, but the fact is, innovations get copied faster than they used to," he says.
This session discusses how analytics will play a primary rather than supporting role in competitive strategies.
You might want to check out this article on the topic in the Business Intelligence Review magazine.
Project Management for Actuaries
(Monday, October 16, 2:00 – 3:30 p.m.)
Actuaries may be called on to carry out project management duties without any formal training in this area. While the basics may seem intuitive, there is a lot to learn about the tools and techniques of project management.
This session will not only cover the technical aspects of project management such as the tools available, but will also include advice such as how to maintain control of project scope, estimating costs and keeping within budget.
Technology–Is the Insurance Industry Doing Enough?
(Tuesday, October 17, 8:00 – 10:00 a.m.)
As an industry, we assume the risk for trillions of dollars of life insurance; and the public trusts us to do this efficiently and effectively. Yet, in some cases, we continue to use tools and procedures that are tens, hundreds and even thousands of years old! Much has happened in the recent several years and we are not taking advantage of the amazing potential of today's technology.
The session will provide discussion on whether the insurance industry is proactive in embracing technology and whether we should be.
The presentation will include a hot breakfast–free for section members!
Is Your Information Safe?
(Tuesday, October 17, 2:30 – 4:00 p.m.)
Do you feel threatened by viruses, worms, spy–ware and other malicious threats to your PC security? Or, do you feel comfortable? What about other risks? Do you have client data on your laptop? Is it secure? Nowadays you need to think twice before putting client data on a laptop or other portable device. Is it secure? What steps should you take to protect it? Are biometrics safer?
Come to this session and learn what you should be doing now to protect your most valuable asset––information.
Information Technology in Financial Reporting
(Tuesday, October 17, 2:30 – 4:00 p.m.)
This open forum is a chance to share information technology experiences. Particular topics are likely to include:
- Statutory/GAAP/Tax Valuations–integrity of data, control of assumptions and update process for new issues, maintenance and upgrades for new features, etc.
- CFT/EV/RBC–II Projections–one system versus multiple systems, model validations, stochastic and other high power computing needs, asset modeling issues, data warehousing.
As an open forum format, participants will be encouraged to discuss topics from the above list, or suggest others. Come and find out:
- What system and data issues other companies are facing.
- What innovative technology solutions are in use.
Finally, while these sessions are planned for October, we always welcome suggestions for future sessions and volunteers to speak at meetings. If you have any feedback please contact Kevin Pledge.
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