CATASTROPHE MODELING FOR UNDERWRITERS & BROKERS*
Tuesday, March 22, 2022 ♦ 12:00 – 1:00 pm (EST) ♦ Presented Via Zoom
SUSAN DENIKE, Guy Carpenter
Managing Director, North America Catastrophe Advisory
SARAH MACIOROWSKI, Guy Carpenter
Assistant Vice President
Cat modeling is part of all broker’s or underwriter’s work but what does it all mean? Your presenters will explain what the components, acronyms and key metrics mean and how data drives modeling results. Hear about different models – including for emerging risks – their output, and how they can be interpreted and applied. This webinar is suitable for all involved in both property and casualty cat products and lines, including casualty clash and workers compensation.
It is planned to cover the following aspects:
- Why cat models exist and how they’ve evolved
- Basic building blocks (Hazard, Vulnerabilities, Financial aspects)
- What lines of business are typically modeled?
- Secondary modifiers
- Core perils traditionally relied on vs secondary / emerging perils – how do Sub-perils factor in? i.e. storm surge, fire following
- Understanding model uncertainty – model miss, what is and is not intended to be in the “out of the box” results
- Acronyms – AAL, OEP, AEP, PML
- Loss perspectives – GU, GR, RL, TR
How are results used?
- Insurance / Reinsurance, pricing, buying decisions, regulatory responses, rating agencies, etc.
- How do companies use catastrophe models to inform reinsurance transactions?
Ms. Denike is based in Morristown, N.J. She is a Managing Director in Guy Carpenter’s Global Strategic Advisory group and specializes in the analysis of catastrophic risk. She began her career with Guy Carpenter more than 30 years ago as a property facultative broker. After nearly 10 years in that role, she transitioned to Analytics working in an advisory role in the development of EQECAT’s catastrophe modeling software, at the time a joint venture between Guy Carpenter and EQE. Since that time, she has focused on managing the deployment of analytics, modeling and placement support for large, complex global accounts across a wide array of classes of business. Susan graduated from the University at Albany (SUNY) with a degree in Business Administration and subsequently obtained her CPCU designation.
Ms. Maciorowski is based in Guy Carpenter’s Minneapolis office. She works with a wide spectrum of clients in the analytics department, specifically the catastrophe modeling section. As part of this department, Sarah works with small mutual companies to large, global E&S companies to clean, model, and interpret exceedance probability results using multiple commercial model vendors. Sarah also is a part of Guy Carpenter’s Geospatial Information Systems (GIS) team, where she creates customized maps for clients to better visualize their portfolio. Her GIS skills enable her to supplement traditional analytic responses to client questions with spatial solutions as well. Sarah studied applied mathematics, business, and stochastics in Chicago’s South Side at the Illinois Institute of Technology where she graduated early. Sarah’s four years of catastrophe modeling experience coupled with her nearly three years of GIS experience fuels her to continue finding the best solutions for Guy Carpenter’s clients.
* The asterisk at the end of this session title denotes that this is another in our “Reinsurance Basic Syllabus Series” of programs, forming part of the “Reinsurance Basic Syllabus”. This initiative is bringing a series of twelve topics geared towards those professionals who have only recently joined this great industry or who have just a few years of experience. It is intended to be a “Reinsurance Primer Series” of basic topics and which will be offered on a rolling two-year cycle. A Certificate will be issued to participants who complete 10 of the 12 topics.
Members: IRUA corporate member professionals – $75
IRUA Individual Members: (not associated with an IRUA member company)- $75
Non-IRUA members – $95
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