ACE USA The Property-Casualty Industry Today and the Role of the Actuarial Profession.

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Presentation transcript:

ACE USA The Property-Casualty Industry Today and the Role of the Actuarial Profession

ACE USA 2  The Property-Casualty Industry  The Actuarial Function  Application of the Actuarial Knowledge Agenda

ACE USA 3  Inflation  Tort trends  Newly emerging issues  Accumulations  The environment – economic, regulatory The Property-Casualty Industry Today

ACE USA 4  Gross Profitability Studies  Net Reserve Studies  Valuation of Reinsurance  Benchmark Pricing – individual and portfolio  Accumulation Modeling  Valuation of Trends, Policy Form and Rate Changes The Actuarial Function

ACE USA 5  Align with Business Units  Detailed data gathering and analysis  Claim department expertise and knowledge  Legal trends  Participation in and Exposure to External Experts Application of the Actuarial Knowledge

ACE USA 6 Success in the property-casualty insurance industry is dependent upon intimately knowing your business and using all information available to arrive at informed business decisions. The problem solving and data analysis skills of the trained actuary are integral to such success. Conclusion

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