Webinar: Risk Management in Insurance

Contents

Value based management has long been the key driver for innovation in the insurance business. Risk oriented management is paramount within the Solvency II framework. Focusing on these two principles the course will spend the first two days covering everything from the regulatory framework and the economic balance sheet to state-of-the-art practices and processes in risk management including risk modelling for assets and liabilities.

The following one and a half days will address challenges faced by the insurance industry today. The theoretical part covers all fundamentals of the risk function with respect to identification, measurement, controlling and reporting. A special emphasis is given to reinsurance and risk transfer as well as value based and risk oriented management. The practical sessions address various aspects of a successful and effective implementation of Solvency II and other pending standards. This covers the upcoming Solvency II reviews and the developing International Capital Standard, management challenges in implementing risk related aspects in future IFRS accounting statements as well as foreseeable requirements in the context of sustainability and IT risks.

The current COVID-19 market stress will be analysed from a risk measurement perspective.

The course covers all theoretical and practical aspects of modern value based and risk oriented management for insurance companies and pension funds required to become a fully qualified actuary according to the education syllabus of the International Actuarial Association and the core syllabus of the Actuarial Association of Europe as well as according to the regulations of the Actuarial Association of Austria (AVÖ). The course also meets the requirements by the Austrian Financial Market Authority with respect to the (deputy) responsible actuary (§§114 –116 Austrian Insurance Supervision Act as well as §§21d and 21e Austrian Pension Fund Act), the head of the actuarial function (§113 Austrian Insurance Supervision Act as well as §21c Austrian Pension Fund Act), the head of the risk management function (§112 Austrian Insurance Supervision Act as well as §21a Austrian Pension Fund Act) and other management, governance or key functions (§120 Austrian Insurance Supervision Act as well as §21 Austrian Pension Fund Act). For continuing professional development (CPD) the course counts as 21 hours.

The course is suited to all those who want to acquire knowledge of risk management in insurance. Due to the updates of Solvency II and the introduction of new standards, the course differs significantly from previous lectures. Please find the detailed programmeon the following two pages.