Industry Articles
October 10, 2021
A Guide to Leveraging Economic Capital to Conduct More Effective Exams
Written By: Christine Browning, CFE Published In: SOFE, The Examiner Fall 2021 Economic capital is a means of quantifying a company’s capital needs based on the amount of capital that is necessary to support its risk exposures and execute its business plan. Because economic capital captures more than just the liabilities on a company’s balance...
September 22, 2020
Personnel Risks Faced by the Insurance Industry
Written By: Sara Schumacher Published In: SOFE, The Examiner Fall 2020 The insurance industry is not immune to personnel risk. With an ever-changing and volatile job market, coupled with rapid technological advancements and other factors, most notably COVID-19, this risk is becoming more prevalent and cannot be ignored as part of current regulatory examinations. Personnel...
May 14, 2020
The Use of Advanced Predictive Analytics for Rate Making in Insurance
Authored by: Kemi Akinyemi and Ben Leiser Published in SOA: Actuarial Technology Today, May 2020. The Society of Actuaries Actuarial Innovation & Technology Program Steering Committee engaged Risk & Regulatory Consulting LLC (RRC) to conduct research on the intersection of U.S. insurance ratemaking and analytics techniques in advanced modern rating systems and associated regulatory considerations...
March 19, 2020
The Use of Big Data and Data Analytics to Enhance Insurer Operations in Asia-Pacific
Written By: Veronika Cooper Published In: SOFE, The Examiner Spring 2020 In 2019, Risk & Regulatory Consulting, LLC authored a study sponsored by the Society of Actuaries (SOA) that covered the extent of the use of Big Data or Data Analytics to enhance insurer operations, including sales, distribution, product development, underwriting, and claim management within...
September 1, 2019
Methodologies for Valuing Cash Flows That Extend Beyond the Yield Curve
Authored by: Benjamin Leiser and Jack Kerbeshian Published in SOA: Risk Management, September 2019 In 2018, Risk & Regulatory Consulting conducted a study on methodologies used for yield curve extrapolation to value liability cash flows that extend beyond the maximum observable portion of the yield curve. The study was sponsored by the Society of Actuaries...
April 17, 2019
Managing Specialists on Risk-Focused Exams
Authored by: William Michael and Alex Quasnitschka Published in: SOFE: The Examiner, Spring 2019 Have you ever been involved in a risk-focused examination (“RFE”) where the results of the Information Technology (“IT”) Review were provided AFTER fieldwork had been finalized? How about this one—have you ever been involved in an examination where the actuarial analysis...
April 17, 2019
Pension Risk Transfers – What Every Examiner Should Know
Authored by: Ben Leiser and Todd Muchnicki Published in: SOFE: The Examiner, Spring 2019 The most common and natural counterparty to the corporate plan sponsor are insurance companies. As PRT business is a growth area within the insurance industry, a target area of focus in a risk-focused exam related to current or prospective risks, in...
October 27, 2018
Climate Change – Taking the Temperature of the Insurance Industry and State
Authored by: Barry Wells Published in: IRES: The Regulator, Winter 2018 Reality or “Fake News”? Science based or science fiction? The debate continues, and while these are certainly important considerations, you’ll find no answers to these particular questions in this offering. Rather, Interested Reader, the intent of this article is to share a high level...
June 20, 2018
Why States Should Perform MLR Exams and What Do I Need to Know
Authored by: Barbara Bartlett and Christopher Rushford Published in: SOFE: The Examiner, Summer 2018 The Medical Loss Ratio (MLR) ensures that policyholders receive value for the premium they pay for their health insurance coverage. The MLR exams are about validating that health insurance issuers (issuers) offering commercial individual or group health insurance coverage are complying...
June 16, 2018
A Review of Root Cause in Insurer Insolvencies and Impairments
Authored by: Dave Heppen and Veronika Cooper Published in: SOA, The Financial Reporter, June 2018 In 2016 and 2017, we conducted a study of root causes in insurer insolvencies and impairments, with the focus on analyzing potential risk factors and prevention measures. The study was sponsored by the Canadian Institute of Actuaries, Casualty Actuarial Society...
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