Reinsurance international

Transcription

1 Reinsurance international Study Course SINGAPORE 3 rd Intake, 3 to 6 September 2018 Shangri-La s Rasa Sentosa Resort & Spa, Singapore Supported by Monetary Authority of Singapore Limited Places Available Book NOW to Avoid Disappointment Register NOW!

2 anziif/sci Reinsurance International Study Course (Risc) Singapore overview The ANZIIF/SCI RISC Singapore is affiliated to the widely acclaimed Reinsurance International Study Course (RISC) of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) in Australia, having its 51 st intake this year. The third intake of ANZIIF/SCI RISC Singapore 2018 will be held from 3 to 6 September 2018 at Shangri-La s Rasa Sentosa Resort & Spa, Singapore. It is a collaborative effort between the SCI and ANZIIF. The course, which is supported by the Monetary Authority of Singapore, is set to become one of the main talent-building blocks within the SCI s Reinsurance Talent Development Framework, which aims to develop and expand the pool of reinsurance specialists and groom the next generation of leaders for the reinsurance sector in Singapore. About The Course A UNIQUE LEARNING OPPORTUNITY The 4-Day ANZIIF/SCI RISC Singapore is an intensive mix of presentations from leading experts from the insurance and reinsurance industry, coupled with handson syndicated work exploring the fundamentals of reinsurance. It aims to provide delegates with a solid understanding of reinsurance in practice. Syndicates analyse a fictional insurance organisation to design and test the optimal reinsurance programme. Delegates within their syndicate groups act as the executives of the insurance company, making recommendations regarding the optimal reinsurance arrangements for the insurer, culminating in a presentation of the proposal to a fictional Board. Syndicated learning requires delegates to work as a group analysing a typical reinsurance submission, coupling the needs of the portfolio and the corporate risk appetite to optimise the reinsurance programme. Curriculum The Reinsurance International Study Course aims to build an understanding of reinsurance in practice. Delegates will study: the role reinsurance plays in the insurance industry different types of reinsurance and their uses techniques used to determine risk appetite impact of reinsurance structures on financial statements The syndicate group work allows delegates to: apply technical learnings in a simulated environment designed to replicate a real-world situation tackle complex problems within the case study together delegate roles and responsibilities share diverse perspectives pool knowledge and skills develop new approaches to resolving differences develop their own voice and perspectives in relation to peers network with peers practise presentation skills. WHO WOULD BENEFIT FROM THIS COURSE? This comprehensive 4-day Reinsurance residential course is ideal for professionals who work directly (e.g. underwriters, brokers and claims staff members) or indirectly (e.g. lawyers, actuaries, accountants and auditors) in the insurance sector or the reinsurance sector, including companies, regulators and government bodies that service and/or interact with the financial services industry, subject to the following: Delegates should preferably have at least 3 years of work experience if they are in the reinsurance sector, or at least 5 years of work experience if they are in the insurance sector; and Delegates should also be comfortable to converse and present in English during their syndicate group activities. 2 ANZIIF/SCI Reinsurance International Study Course (RISC) Singapore

3 Learning outcomes At the conclusion of anziif/sci risc Singapore, delegates will be able to demonstrate proficiency in four key areas, namely: Strategic 1 3 Articulate the importance of reinsurance in relation to a company s strategy, growth and underwriting philosophy Demonstrate how a company s reinsurance programme interacts with its risk appetite Analyse how the reinsurance programmes interact with the portfolio management and underwriting practices Demonstrate an understanding of the role played by a Board in setting reinsurance strategy Financial Analyse and interpret the impact of reinsurance on a company s financial position Explain the impact of alternative reinsurance structures on the risk-based capital (RBC) calculations Analyse the alternative reinsurance commission structures and explain their financial impact on the portfolio Demonstrate an understanding of the counter party risk and how it can be managed in the company s balance sheet Technical 2 4 Distinguish the various types of reinsurance Choose the types of reinsurance applicable to the specific portfolios and classes of business Describe how the various reinsurance programmes interact Explain how to read and interpret a contract wording Demonstrate an understanding of a catastrophe modelling Apply the following tools to monitor an underwriting performance at portfolio level»» Risk profiles»» Triangulations»» Large loss reports»» Underwriting results Legal & Regulatory Articulate the best practice risk management principles and protocols on reinsurance purchasing Articulate the regional regulatory requirements relating to reinsurance Demonstrate an understanding of the regional regulatory controls on reinsurance purchasing Explain the role of rating agencies and the impact ratings that can have on the reinsurer selection Explain the importance of compliance with internal and external controls on the reinsurance management strategy Describe the process used to achieve contract certainty with reinsurance wordings ANZIIF/SCI Reinsurance International Study Course (RISC) Singapore 3

4 course schedule DAY 1: MONDAY, 3 SEPTEMBER noon pm Registration pm 2.00 pm Lunch 2.00 pm 2.15 pm Official Welcome & Course Opening 2.15 pm 2.45 pm General Session pm 3.30 pm Panel Discussion pm 4.00 pm Afternoon Tea 4.00 pm 5.00 pm Syndicate Group Introductions & Session 5.00 pm 6.00 pm Keynote Session 6.00 pm pm Break 6.30 pm pm Dinner & Syndicate Activities DAY 3: WEDNESDAY, 5 SEPTEMBER am am General Session am am Morning Tea am pm Syndicate Session pm 1.30 pm Lunch 1.30 pm 2.00 pm General Session pm 2.45 pm Panel Discussion pm 3.15 pm Afternoon Tea 3.15 pm 7.00 pm Syndicate Session 7.00 pm 7.30 pm Break 7.30 pm pm Dinner & Activities DAY 2: TUESDAY, 4 SEPTEMBER am 9.15 am General Session am am Syndicate Session am am Morning Tea am am General Session am pm Syndicate Session pm 1.30 pm Lunch 1.30 pm 2.15 pm General Session pm 2.45 pm General Session pm 3.00 pm Afternoon Tea 3.00 pm 6.00 pm Syndicate Session 6.00 pm 6.30 pm Break 6.30 pm 7.30 pm Dinner 7.30 pm 9.30 pm Syndicate Session DAY 4: THURSDAY, 6 SEPTEMBER am am Syndicate Session am am Morning Tea am pm Syndicate Presentations pm pm Syndicate Feedback Session pm 2.00 pm Lunch & Course Closure Presentation of the John Allison Award The Course Schedule, dates, time, duration, venue, topics and presenters may be subject to changes owing to unforeseen circumstances. 4 ANZIIF/SCI Reinsurance International Study Course (RISC) Singapore

5 course details VENUE The Shangri-La s Rasa Sentosa Resort & Spa 101 Siloso Road, Sentosa, Singapore Singapore ANZIIF/SCI RISC Singapore is a residential course and delegates are encouraged to stay on-site. Level Intermediate - Advanced CPD Hours (GIA) 29.5 Hours The course comprises 11 hours of presentations from senior industry professionals (including panel discussion sessions) and 18.5 hours of syndicate group work. ANZIIF CIP Upon completion of ANZIIF/SCI RISC Singapore, delegates will earn 18 Certified Insurance Professional (CIP) points. Dress code Smart casual What To Bring Please bring along a calculator. Language A good command of the English language is essential. Course Fee per delegate Description Member Company* Without Accommodation (Covers course materials and all meals) Member Company* With Accommodation (Single Occupancy) (Covers 3-night accommodation, course materials and all meals) Non-Member Company Without Accommodation (Covers course materials and all meals) Singapore-Based Delegate (Including GST) S$3, S$4, S$3, Overseas Delegate S$3, S$4, S$3, Non-Member Company With Accommodation (Single Occupancy) (Covers 3-night accommodation, course materials and all meals) S$4, S$4, * Member Company rate is applicable to any SCI or ANZIIF Member. Course Funding Financial Training Scheme (FTS) Funding The FTS is available to eligible entities, at a 50% funding level of course fees, subject to all eligibility criteria being met. FTS claims may only be made for programmes listed on the FTS Programme Directory. Please refer to for more information. Note: Overseas-based delegates and all their ancillary expenses will not qualify for the FTS funding. Registration Closing Date Friday, 3 August Places are strictly limited so we recommend that you book early to avoid missing out. Registration Procedure Registrations received for ANZIIF/SCI RISC Singapore will undergo a screening process. The SCI reserves the right to reject any registration that does not meet the course criteria. PRE-COURSE PREPARATION Before arriving at the course, delegates are required to complete Optimum an online introduction to reinsurance course provided by Aon Benfield. This online course gives participants an opportunity to familiarise themselves with the basics of reinsurance. Syndicate Advisers Syndicate groups will be guided by senior practitioners from the industry. John allison award This award is presented at RISC in honour of John Allison s 52 year contribution to the reinsurance industry, and in particular the Reinsurance International Study Course. The award will be presented to the top performer at ANZIIF/SCI RISC Singapore. Oversubscription In the event of oversubscription, the Organising Committee reserves the right to accept applications based on the principle of providing equal representation across the industry, wherever possible. Enquiries Tel: (65) Fax: (65) RISC@scidomain.org.sg Address: 9 Temasek Boulevard, #14-01/02/03 Suntec Tower Two, Singapore ANZIIF/SCI Reinsurance International Study Course (RISC) Singapore 5

6 what Past participants say This 4-day Course has given me a different perspective and great understanding of reinsurance practice. The Course comes with an intensive mix of presentations from leading experts from the insurance and reinsurance industry, coupled with handson case study to work with the Syndicate Advisers. It is simply awesome! The course schedule segregated between the Keynote Session and the Syndicate Session works hand in hand very well. After each topic being presented by the experts in their fields, the Syndicate Session (in a group participation basis) allows us to deliberate, discuss and seek clarification from the Syndicate Advisers. This session has given a good opportunity to each and every one of us in the group to speak out. It has also enhanced our soft skills in effective communication. Finally, the understanding of each topic will then be translated into the case study given to us. The distinguished speakers are truly experts in their subject matters. We also have the good opportunity to meet and know them face to face, and tap on their brains. Listening to their talks and sharing their experiences have been an excellent start for a person like me in the insurance and reinsurance industry. The Syndicate Advisers have been holding our hands to guide us on the topic, as well as the case study, that we have to go through. They have guided and monitored us closely to provide clarity to our questions, keeping in mind of our different background, language and culture. The Syndicate Presentation has been an achievement of all members of each syndicate group. It has certainly reflected the team work, ideas, consensus and respect for each other s decision, given a very short time of acquaintance among the delegates from various countries and backgrounds. It has also provided a valuable experience and boosted our soft skills during the Syndicate Presentation. It has certainly been a good ice-breaking session for someone like me to speak in front of the Board Members and audience. Being the first recipient of the John Allison Award for this inaugural Course 2016, I feel so honoured and blessed that my preparation, participation and passion have been recognised. I encourage all delegates to actively participate during this Course. Let it be yourself, and the rest will fall in naturally. - Zuraidah Mohd Zain, Etiqa Insurance Berhad (Recipient of the John Allison Award in 2016) Another aspect of the course was the cultural and geographical diversity in the participants, allowing for a very interesting international experience. The intensiveness of the course allowed for plenty of opportunity to learn from each other. -Mr Deven Lim, Lockton Companies (Singapore) Pte Ltd., Assistant Vice President From the syndicate activities and case study, we have honed our management skills. In the process with some nudging, we learned to unearth and build on each other s strength to contribute our best to the case at hand.we built teamwork out of a group of strangers within a few days! -Ms Judy Chan, Asia Reinsurance Brokers Pte Ltd, Reinsurance Division Director Treaty The RISC was a very rigorous course that covered a wide range of topics through the speaker sessions, from treaty and facultative reinsurance to cat modelling to contract certainty....i was inspired by their passion for their work and our industry and their willingness to invest in educating the next generation of insurance practitioners. It was great that each syndicate was assigned 2 advisers who are veterans of the industry. - Ms Yap Nian Fang, Melody, Account Director, Ikatan Asia Pacific Reinsurance Brokers Pte Ltd 6 ANZIIF/SCI Reinsurance International Study Course (RISC) Singapore

7 what past participants say It was very much an immersion program in which we were forced to solve a pretty complex insurance treaty assignment. Things were not clear at first, as most of us have limited knowledge and experience with treaty. But as the indepth presentations were provided during general sessions and hints and clues were introduced by our advisers during syndicate sessions, things become clearer and eventually at the end of the course we gained a good understanding of the subject. An interesting and thrilling way of learning! Mr Akbar Kusumanto, PT Reasuransi MAIPARK Indonesia, Technical Group Head This course is intense but you would learn a lot through the case study, which would give you a life time benefit for your career in reinsurance field. -Mr Thitiwat Kaewwattannaborworn, Actuarial Analyst, Guy Carpenter & Company There are a lot of takeaways... knowledge, friendship and a lot of laughs. Big thanks to the staff from SCI, all speakers, advisors, delegates and last but not least, my manager (one of the RISC alumni) who recommended me to participate in this effective course. RISC Singapore definitely is one of my important steps to build my career. - Ms Priscilla Tang, Liberty International Underwriters, Senior Underwriter The best course I have attended that combines high impact perspectives by experienced practitioners and group case study. A diverse group of delegates mentored by knowledgeable advisers in a very energetic setting delivered on expectations. -Mr Mudit Gupta, IAG (Asia) General Pte Ltd, Actuary The ANZIIF / SCI Reinsurance International Study Course is an intensive 4 day residential course in the theory and practice of reinsurance. The course which originated from Australia has been going on for about 50 years down under and is so well established that some would see it as a rite of passage for insurance / reinsurance professionals involved in reinsurance. Some of the course alumni with fond memories of attending the course have since come back to contribute to the course in various capacities. Having had the fortune of attending this course, I would say it is tiring but immensely rewarding. The course blends lectures (i.e. Keynote Sessions) and a hands-on case study (i.e. Syndicate Sessions) in a manner that helps to reinforce the knowledge picked up through the keynote sessions. Lectures are delivered by well-qualified speakers with years of practical reinsurance experience, who combine knowing the ins and outs of reinsurance with their infectious passion for reinsurance. We tackle the case study together in syndicate groups. In each syndicate group, we have a mix of delegates from a range of background (direct insurers, reinsurance brokers, reinsurers, underwriters, reinsurance managers, actuaries and risk managers amongst others). This mix works very well as we get to better understand viewpoints from different stakeholders in reinsurance business as well as benefit from each other s varying strengths. Attached to each syndicate group of delegates are experienced syndicate advisors that help guide us along the way in making sense of the case study. They played a critical role to ensure the optimum level of guidance along the way, helping to resolve any misunderstandings and confusions that we may have about reinsurance. The task of completing the case study as a group has been made far easier because of our capable syndicate advisors. In particular, my syndicate advisors has left a strong positive impression on me in working to ensure no one in the group gets left out or gets left behind. I have been fortunate to receive the John Allison Award for the course in I would encourage all delegates to actively participate throughout the course, including active wrestling with the case study. What you get out of this course is a function of your efforts into it. - Pua Yeong Heng, MSIG Holdings (Asia) Pte. Ltd. (Recipient of the John Allison Award in 2017) ANZIIF/SCI Reinsurance International Study Course (RISC) Singapore 7

8 CONTACT INFORMATION The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) is the leading membership, education, training and professional development organisation for the insurance and finance industry in the Asia-Pacific region. ANZIIF partners with companies, government and non-profit organisations to provide a range of services that support professional excellence to enhance the standards, reputation and success of the industry and improve community understanding of insurance and finance. Established in 1884, ANZIIF works with members in 50 countries and has offices in Australia, New Zealand and China. The Singapore College of Insurance (SCI) is a not-for-profit professional training and education body set up in 1974, as part of Singapore s efforts to develop as a financial hub. For more than 44 years, the SCI has remained focused in its efforts to upgrade the technical expertise of insurance and financial services practitioners, and to provide them with professional advancement opportunities, through its series of practice-oriented programmes and internationally-accredited qualifications. Since the late 1970s, the SCI has also played the role of an industry examination body to conduct regulatory examinations for those wishing to join the financial advisory, life and general insurance industries. Since 2009, the SCI has also expanded its role to include talent development programmes, such as the Insurance Executive Scholarship Programme (IESP) and the Insurance Management Associate Programme (imap) that have succeeded in attracting and placing numerous fresh tertiary talent into the varied functions in the industry. The SCI was voted the Asia Insurance Industry Educational Service Provider of the Year in 1997, 2001, 2007 and It has international links with professional bodies, such as The Chartered Insurance Institute (CII), The Chartered Institute of Loss Adjusters (CILA), The American College (TAC), The Life Office Management Association (LOMA), LIMRA and The Australia and New Zealand Institute of Insurance and Finance (ANZIIF) as well as with other training institutes in the region, through its involvement in the ASEAN Insurance Education Committee(AIEC) projects. The SCI has also actively helped to set up the Asia-Pacific Risk and Insurance Association (APRIA) to further insurance education, and to promote links between academia and the industry. Singapore College of Insurance Limited 9 Temasek Boulevard #14-01/02/03 Suntec Tower Two Singapore General Enquiry (+65) RISC@scidomain.org.sg Website CPE Registration No M Period of CPE Registration From 26 September 2015 to 25 September 2019 Online Registration Information presented on this marketing material is correct at the time of publishing. However, changes to the course contents, dates, time, duration, venue and faculty members can occur owing to unforeseen circumstances. Every effort will be made to inform all participants of such changes on a timely basis Singapore College of Insurance Limited (SCI). All Rights Reserved by SCI. Version 2: 1 June 2018