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The Actuary The magazine of the Institute & Faculty of Actuaries
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Conference preview: GIRO - Rising to the challenge

Chairman’s preview

By the time of this year’s GIRO conference, there will be a little over two years before the scheduled implementation of the Solvency II regime. The regime will see a fundamental change in the way insurers across the EU assess their capital requirements and risk management standards. With actuaries set to play a pivotal role helping insurers to meet these requirements, the theme of this year’s GIRO conference is ‘Actuarial impact — rising to the challenge’. Whatever area of general insurance you work in, it is inevitable that Solvency II will have some impact on your day-to-day working life; are you ready to rise to the challenge of the changing regulatory landscape?

In a packed programme that combines both technical research and practical and general sessions, we will, once again, have a number of guest speakers addressing the conference. Among them will be Charlie Cantlay, chairman of Aon Benfi eld UK, who will be updating us on the current developments and pricing in the reinsurance market, and Neil Cantle, a principal with Milliman, who will be sharing his views with us on behavioural enterprise risk management and the ORSA (Own Risk and Solvency Assessment). We will also have two guest speakers sharing with us their perspectives of relying on others, James Illingworth of Amlin will give us the CRO’s perspective, while Claire Souch of RMS will be providing the modelling agency’s perspective.

To recognise the variety of challenges currently facing general insurance actuaries, the GIRO committee has assembled a programme of plenary sessions covering a wide range of topics, such as emerging risks, pricing, relying on others, reserving and Solvency II. We have also incorporated two plenary sessions focused on professionalism and are pleased to have secured one of the world’s most dynamic business speakers and a founding director of the Tom Peters Group, Nigel Barlow, who will be speaking to us on ‘Rising to the challenge’. The mock trial, ‘Don’t get court with your standards down’, also promises to be a highlight.

In addition to the plenary sessions, the GIRO committee has compiled a programme of around 60 different workshops covering an enormous range of topics, including microinsurance, Irish issues, Lloyd’s issues and price optimisation, to name but a few. There is, of course, a host of sessions on Solvency II-related matters, so there is bound to be plenty of interest and relevance to everyone. Many of these workshops arise from the vast amount of volunteer work put in by our working parties and other delegates throughout the year, so we shall once again be looking to kick-start next year’s research working parties at the conference. This has proved to be a hugely successful mechanism for research and the benchmark standard for other practice areas.

As all GIRO regulars will know, GIRO is not just about the technical and actuarial content. It is the premier opportunity each year for general insurance actuaries to catch up, exchange ideas and reinforce the links that already exist within the general insurance actuarial community. With this in mind, we have organised a variety of social events including the welcome reception, an informal buffet and fun evening of interactive activities and, of course, the conference dinner, without which no GIRO would be complete.

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Darren Michaels is a member of the General Insurance Practice Executive Committee and chairman of the GIRO committee, which is responsible for organising the annual GIRO conference.

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MORE INFORMATION
For more details and the full programme for the GIRO conference 2010, visit http:bit.ly/9w48p