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Oasis Insight Conference - Bermuda
12th June 2024
Royal Bermuda Yacht Club
Free to attend
REGISTER HERE
Agenda is subject to change
8:00 Coffee and Registration
9:00 Introductions from Oasis and others
9:30 Challenges in Quantifying Flood Risk
Matt Reid, Managing Director - USA, JBA
This presentation will:
- Discuss the key lessons we have learned in modelling flood hazard and risk over the past decade
- Look at what capabilities JBA Risk Management offers today
- Explore how some technology will impact our understanding of flood risk in the future
9.45 Tropical Cyclone Catastrophe Modeling for the North Atlantic Basin on the Oasis Platform
Dr. Frank Lavelle, Vice President, Applied Research Associates (ARA)
This presentation will include highlights of ARA’s new North Atlantic Hurricane model on the Oasis platform, including:
- Updated probabilistic hurricane event set covering the entire east coast of North America and the Caribbean,
- Event rates for past, present and future climatology,
- Improved storm surge modeling for the U.S., Puerto Rico, U.S.V.I., and Bahamas including wave setup, and
- Enhanced vulnerability modeling for the Florida market and high-value homes.
10.00 Wildfire Modelling: Unleashing Reinsurance Potential
Jamie Knippen, Senior Product Manager, Corelogic
Delve into the hi-resolution world of CoreLogic Cat models, exploring the various options available and their implications. Our focus extends to the critical aspect of identifying low-frequency, high-severity perils, shedding light on their significance and the challenges they pose for insurers and reinsurers in reinsurance buying decision making.
Understand the importance of incorporating an appropriately simulated stochastic event set that accurately represents on-the ground realities and examine how decisions made by individuals and communities can influence outcomes.
10.15 Managing SCS Risks: Advanced Modelling Techniques
Eric Robinson, Head of SCS Modeling, Aon's Impact Forecasting
Over the last 30 years, severe convective storm losses have increased at an annual rate of nearly 9% and in 2023, over 70% of insured losses in the U.S. were driven by the peril. This session explores the need for new modelling techniques and how Impact Forecasting's updated U.S. SCS model can better inform risk management decisions for this complex peril.
10.30 Understanding and Managing Flood Risk Uncertainty with Metadata
Harry Vardigans, Head of Insurance, Fathom
This presentation will discuss:
- The challenges around uncertainty in flood risk data and models
- Examine how tools, like Metadata, can help insurers increase data confidence and decision-making capabilities
10.45 Vendor Q&A
11.00 Networking Break
11.30 Beyond Classic Cat Modelling
Speaker: Christopher McDaniel, President, The Institutes - Catastrophe Resiliency Council (CRC)
- What is classic cat modelling?
- Why is it not sufficient to serve future needs?
- What is needed to address these future needs?
11.50 Beyond Validation: Uncovering the True Value of Catastrophe Models
Speaker: Tom Philp, CEO, Maximum Information
- Model Validation is an essential cornerstone of effective and dependable catastrophe risk management. However, it will be argued here that the conflation of the terms “Validation” and “Evaluation” has meant that Model Evaluation – that is, the process of understanding where and why a model has maximum value to its users – has sometimes been overlooked.
- This talk aims to shine a light on where cat models hold their true value, and where cat risk managers can implement simple Model Evaluation procedures that will help them identify real value for their key stakeholders: from underwriters to actuaries, and exposure managers to claims handlers.
12.45 Closing Remarks
17.30 Networking Drinks
The Astwood Arms, 83 Front Street, Hamilton, Bermuda (https://astwoodarms.bm)
Our partners below will be in attendance and keen to engage.
