MORO 2018

All conference sessions will be held on the ground floor of the Loews Hôtel Vogue, Montreal.

This session will feature a panel discussion about current reinsurance market issues, including the cedant, reinsurer, broker and rating agency perspectives on topics such as reinsurance pricing.

Greg Lockard, Chair, ICMIF Reinsurance Committee and Director of Reinsurance Operations, Shelter Mutual Insurance Company (USA)

Apundeep Lamba, Vice-President, Corporate Actuarial & Reinsurance Services, The Co-operators (Canada)
Andreas Beckmann, Chief Underwriting Officer, R+V Re (Germany)
Greg Williams, Senior Director, A.M. Best (USA)
Tony Phillips, Chairman, Willis Re Latin America & Caribbean (USA)

15:30 - 16:00Coffee
This session will include a panel discussing the impact of economic, political and regulatory forces on global reinsurance business.

Luc Boghe, General Manager, QBE Re Brussels and Head of Life, QBE Re (Belgium)

Guillermo Plate, Deputy Superintendent, Superintendencia de Seguros de la Nación (Argentina)
Jonathan Turner, Senior Vice President and Chief Financial Officer, ‎Swiss Re Canada (Canada)
Charles Chamness, President and CEO, National Association of Mutual Insurance Companies (USA)
Bill Marcoux, Partner, DLA Piper (USA)

This session will consider the lessons learned from recent catastrophic events and other developments that have impacted on the reinsurance market. An overview of the catastrophic loss landscape will be followed by case studies on the Fort McMurray wildfire and flood coverage in Canada.

MC Porter, Vice President – International Underwriting/Marketing, American Agricultural Insurance Company (USA)

Keynote presentation: Global change and catastrophic loss
Glenn McGillivray, Managing Director, Institute for Catastrophic Loss Reduction (Canada)

In his presentation, Glenn McGillivray, Managing Director of the Institute for Catastrophic Loss Reduction, will speak about the increasing challenges faced by various stakeholders – most particularly governments and insurers – in managing risks associated with severe weather and seismic events. He will discuss how severe weather losses are rising across Canada and around the world and what can be expected through the next decade in terms of disaster loss claims and prevention. He will end with a discussion on ICLR’s work and its efforts to help insurers and others mitigate the impact of severe weather and earthquake events.

Fort McMurray wildfires: The facts behind the tragedy
Marie-Ève Vézina, Director, Special Risks, Claims Specialists and Quality Assurance, Desjardins General Insurance Group (Canada)

The Fort McMurray wildfires were an immense tragedy for the people of Alberta. It was the most costly natural disaster in the history of the Canadian insurance industry and an enormous logistical challenge for property and casualty insurers across the country. As we approach the two-year anniversary of this tragic event,  Marie-Eve's presentation will go over some of the claims issues encountered by Desjardins General Insurance Group; how these issues were resolved; what went well; and what still remains to be done.

The Co-operators Journey toward addressing Flood Resiliency in Canada
Kirsten Holt, Senior Director, Farm Portfolio, The Co-operators (Canada)

Flooding is an enormous challenge we face as a society, as experts in assessing, mitigating and transferring risk, the insurance industry is clearly a key stakeholder in addressing this issue. So on January 1, 2014 The Co-operators formally introduced the Flood Initiative with the vision of being a catalyst in advancing flood resiliency in Canada. We will focus on The Co-operators’ journey discussing our 3 tiered approach: understanding the risk, through quality data; utilizing this understanding to make proper adaptation and mitigation decisions; and the implementation of an insurance product to manage the residual risk.

10:45 - 11:15Coffee
11:15 - 12:30LEARNING FROM CATASTROPHES (continued)
This session will include a case study on the 2017 hurricanes (Harvey, Irma, Maria) and the lessons learned from those and other industry losses. The session will also include insights into the state of the catastrophe models following those record losses, as well as discussing strategies for managing risk.

Wake Up Call: Lessons Learnt from Hurricanes Irma and Maria
Dharma Rovayo, Assistant Vice-President, Business Development & Risk Management, Real Legacy Assurance Company (Puerto Rico)
Tony Phillips, Chairman, Willis Re Latin America & Caribbean (USA)

In Q3 2017, the events of hurricanes Harvey, Irma and Maria caused a combined loss of USD 75 billion in the US and the Caribbean. In Puerto Rico, after Irma first caused extensive damage and flash flooding to the north of the island, Maria made landfall just over a week later as a Cat 4 hurricane, damaging 80% of buildings in Catano and resulting in power outage for 80% of the country’s network for 3-6 months. Six months on, Dharma Rovayo and Anthony Phillips reflect on the impact of the events on Puerto Rico and the (re)insurance market. The events were undoubtedly a ‘wake up call’ for the (re)insurance industry, highlighting the complex interplay between consumer, loss adjustor, regulator, rating agency and reinsurer in the aftermath. Whilst the loss estimates have drastically reduced from the originals provided by the major catastrophe modelling companies, the potential for loss was nonetheless an inflection point for the industry’s approach to catastrophe risk management.

Catastrophe Modelling: 2017 Natural Disasters in Review
Desmond Carroll, ‎Senior Vice-President, Willis Re Canada (Canada)

With hurricanes Harvey, Irma and Maria, a severe earthquake in Mexico, and an unprecedented wildfire season in California, 2017 will cost the insurance industry a record amount. Desmond Carroll, head of Analytics and Model Development for North America, will share insights in to the state of the catastrophe models for these perils and discuss strategies for managing risk.

12:30 - 13:30Lunch
This session will consist of a panel discussing the differences between mutual insurers and stock companies when it comes to reinsurance purchasing.

Steve Johnston, Director, Corporate Reinsurance, The Co-operators (Canada)

Geoff Lubert, Executive Vice President and Managing Director, Willis Re Canada (Canada)
Tor Mellbye, Reinsurance Manager, Länsförsäkringar Sak (Sweden)
Greg Williams, Senior Director, A.M. Best (USA)
Samuel Broomer, Executive Vice President and Chief Operating Officer, Berkley Re Solutions (USA)

14:30 - 15:00Coffee
15:00 - 18:00MINI MONTE CARLO
One-to-one meetings between delegates in half hour slots in the style of the Monte Carlo Rendez-vous. A great opportunity to build new business relationships and strengthen existing ones.

09:00 - 10:30CYBER RISK
This session will include presentations relating to the understanding of cyber risks and challenges faced by mutual insurers when developing cyber products, as well as the reinsurance considerations of cyber liability insurance.

James Latham, ‎Divisional Director, Willis Re (UK)

Personal Online Safety: How to Better Protect Your Identity, Credentials and Online Presence
Matt Cullina, CEO, CyberScout (USA)

Today online threats are more prevalent than ever with data breaches in the news daily. The growing prevalence of threats combined with careless Internet habits have left users increasingly exposed to scams and identity theft. The insurance industry has responded with policies that address the impact of malicious online activity and help safeguard identities. On top of having the right protection in place it's also important for users to practice safe online habits. Join Matt Cullina in this session to find out more about online threats and how you can help keep your identity protected.

Cyber challenges facing mutual insurers
James Latham, ‎Divisional Director, Willis Re (UK)
Michael Barnes, ‎Casualty Reinsurance Broker, Willis Re (UK)

Ignoring Cyber perils when digitalisation and inter-connectivity are integral to the way in which large and small businesses operate is not an option for a Mutual Insurer. Mutual Insurers' members need to manage their cyber exposures, however there are obstacles to developing the right Cyber solution. This presentation addresses the unique challenges that Mutual Insurers face when developing a Cyber product, and the various avenues available to Mutual Insurers in overcoming these issues.

How Cyber Liability insurance is different, and what that means for the reinsurance buyer
Samuel Broomer, Executive Vice President and Chief Operating Officer, Berkley Re Solutions (USA)

Insurance companies that elect to partner with a broker/reinsurer to implement a Cyber Liability insurance solution are faced with a number of choices; choices that impact multiple parts of their company. Unlike more traditional capacity-driven purchases, this presentation seeks to inform the reinsurance buyer on the P&L implications of this decision. The presentation's goal is to educate the buyer on these differences thereby elevating their leadership contribution in this important and timely task.

10:30 - 11:00Coffee
11:00 - 12:30CYBER RISK (continued)
Continuing the cyber theme, this session will provide an overview of the modelling landscape, taking a closer look at risk analytics and exposure management.

Understanding and analysing cyber risk
Jess Fung, ‎Executive Vice-President, Willis Re (USA)

Given the rapid increase in dependence on digital technology in recent years, insurance companies are increasingly exposed to systemic cyber risk that potentially impacts multiple lines of business. This presentation considers both the challenges presented and the need to better understand cyber risk inherent in an insurer’s book of business. It will also consider both affirmative cyber (risk arising from cyber specific policies) and silent (risk arising from policies not intended to cover cyber losses). It looks at the evolution of cyber modelling, and cyber accumulation risk modelling case studies using Willis Re’s probabilistic and scenario-based modelling approaches.

Debunking cyber exposure: Putting a $ value on cyber risk
Marcus Breese, Head of Insurance Innovation & Strategy, Corax (UK)

This presentation will focus on how cyber exposure for both individual risks and portfolios can be effectively quantified. Considering both breach and business interruption events we examine the impact technology is having on the measurement of technology based exposure. The presentation includes insight into ways to simulate and measure a "cyber hurricane".

Marcus Breese, Head of Insurance Innovation & Strategy, Corax (UK)
Samuel Broomer, Executive Vice President and Chief Operating Officer, Berkley Re Solutions (USA)
Matt Cullina, CEO, CyberScout (USA)
Jess Fung, ‎Executive Vice-President, Willis Re (USA)

12:30 - 13:30Lunch
Lorie Graham, Chief Risk Officer and Senior Manager, Insurance Services, American Agricultural Insurance Company (USA)

Canada is expected to legalise cannabis in 2018 which would make Canada the second country to have nationwide legalisation. In the US, more than half of the states have legalised some form of medical or recreational marijuana and the demand for cannabis is increasing substantially. As this industry grows, the need for insurance protection is magnified. Insurers will seek to untangle the nuances of cannabis exposures as they develop underwriting, products and pricing. This session will explore the trends and provide insights about some of the challenges insurers will face such as legality issues and the elevated risks for personal, farm, and commercial policyholders.

Marc Bisson, Senior Client Manager, Manager Life Business Unit, QBE Re (Belgium)

In an ever changing world, an organization constantly needs to adapt its operations to survive and be successful. It also needs to innovate and adjust its services and products. Life insurance is no exception. This session will give a brief overview of the process of creating a new life insurance product, discussing the different stages and addressing the main issues concerning: operational structure supporting product development; sources of new product ideas; what makes a good product prospect (and ensuing next steps); and whether a specific partnership would be beneficial (with whom and under what conditions). Finally, it will illustrate a real-life example of how the insurer/reinsurer collaboration can contribute to the successful development of a new life insurance product.

15:00 - 15:30Coffee
This session will look at innovation and technology and how (re)insurers are using these to stay relevant in their respective markets. Blockchain and artificial intelligence are the featured topics from two leading industry experts, who will then take questions on other technologies impacting the (re)insurance market.

John Weber, Senior Associate Editor, A.M. Best (USA)

Innovation, Disruption, Connectivity: A new path on risk
Mark McLaughlin, Global Insurance Director, IBM (USA)

Recent changes in the technology landscape have changed expectations on risk management and advice. In his presentation, IBM's Global Insurance Director Mark McLaughlin will review key technology trends that will impact the science of risk analysis and the business models used to transfer and moderate risk in the future. Fast-moving players in the (re)insurance industry can leverage these technologies to change the landscape for customers.

Artificial Intelligence for the Reinsurer: Engagement, Automation, and Insights
Charles Dugas, Director, Insurance Solutions, Element AI (Canada)

Over the last few years, the use of artificial intelligence (AI) in insurance has made important progress. All along the customer journeys, from distribution to claims, many processes of the value chain can be redesigned by combining new technologies with AI capabilities in order to elevate customer engagement, reach new levels of process automation, and/or bring new insights. Market participants need to understand how, by combining AI, other technologies, and their unique position, they can augment themselves in order to strengthen their offering and contribution to the industry. Finally, beyond these great new capabilities made available, one must remain cautious as AI has its limitations. Understanding these will allow to develop proper tools and safeguards so that the use of AI solutions remains as transparent as possible and consistent with the context in which they were developed.