RAPA 2015 Spring Meeting - PowerPoint Presentation

Slide1

RAPA 2015 Spring Meeting

April 13, 2015

Agenda

1:00PM – 3:00PM

Welcome

and Introductions [Tom Hartlett, Chair]

Organization Update

[Tom Hartlett, Chair]

Communications

/ Website

[

Tom Hartlett, Chair]

Financial Report

[

Kim Langstaff, Treasurer]

Planning [

Stephanie Williams,

Planning]

Initiatives

Updates [Greg

LaRochelle, Vice-Chair]

Data

Initiative [

Genevra Pflaum, Lead]

Risk Management

[

Garfield McIntyre, Lead]

Education [

Dalia Khoury, Lead]

Committee

and Initiative breakout sessions [All Attendees]

Committee and Initiative reports

[

Stephanie,

Dalia, Evelyn, Kelly]

3:00 Adjourn Day

Antitrust Statement

The Association makes no warranties as to the accuracy of the information contained in discussion forums, meeting minutes or presenter materials. The posting of messages, meeting minutes or presentation materials does not constitute knowledge, endorsement or approval by the Association, nor do we accept any liability for the content of any posting. Individuals using these discussion forums do so at their own risk and shall also remain individually responsible for their actions and statements in using these discussion forums. Because the Association is committed to adhering strictly to the United States and Canada antitrust, copyright, trademark, securities and other federal statutes, as well as state or provincial common laws covering libel, slander, defamation, false advertising, invasion of privacy and violations of the rights of publicity, we strongly discourage users of our discussion forums or attendees of our meetings from verbally stating or writing anything that (1) sets or controls prices or terms of products or services and the manners in which products or services are sold; (2) violates the proprietary or personal rights of others; or (3) constitutes an advertisement. Your use of or participation in Association discussion forums or meetings is acknowledgement of your agreement with the above and your promise to use these forums in a professional and courteous manner.

3

Organization update – Board of Governors

Tom Hartlett – ChairGreg LaRochelle – Vice ChairShaun Downey – Past ChairKim Langstaff – TreasurerSusan Whitehead – Secretary

Stephanie Williams – Planning Chair

Open position– Communications Chair

RAPA Organization update

2014 Membership – 112 members in 20142014 Fall Conference – Miami Beach, FL111 attendees, 2nd largest attendance2015 Membership Renewals – 51 renewals through 4/1/159 new members

2015 Officer election update

Nomination committee formed –

Slate to be finalized by June and communicated to members

Communications Committee

Responsible for web site management, social media management, and membership communicationsHad limited membership in 2014 (3 members)

Chair resigned in November 2014 due to work commitments.

Member supporting website updates stepped down in January 2015

Tom Hartlett currently managing communications, with support from Kim Langstaff and Stephanie Williams.

We need a volunteer to lead this committee going forward.

Decision made in January 2015 to request RFP’s for web site rebuild to enable end user content management and enhance functionality.

Website Initiative Overview

Purpose

Redesign the existing website

www.reinsadmin.org

to modernize the platform and provide added functionality. Logiq3 has sponsored RFP development and project management.

Contract

with

Mediazeus

to rebuild web

site executed

Project timeline is 6-8 weeks beginning mid April

New features to be implemented:

Redesign and reformatting of existing

pages

Wordpress Content Management System – reduces need for technical support to update contentWebsite will be mobile device friendlyOnline portal for administrator access and databaseRegistered user access to include member directory, training materials, internal communications, and online community forum.Blog platform for article writing and sharing.Google analytics for website tracking and analysis.

Members

Tom Hartlett – Hartlett Consulting

Natalie Ho – Logiq3

Kim

Langstaff

, Hannover Re

Stephanie Williams, Hannover Re

Susan Whitehead – Sun Life

Genevra

Pflaum

– Hannover Re

Treasurer's Report

Planning

2015 Fall ConferenceSunday, October 18th – Tuesday, October 20

th

Phoenix Marriott Tempe at The Buttes

Tempe, AZ

Single/Double Room: $156

Rate guaranteed 3 days pre/post

event, subject to availability.

Rate expires September 25, 2015.

For reservations call:

1-888-867-7492

RAPA FALL CONFERENCE 2015

Planning

PresentationsEmerging Reinsurance Trend: Hybrid Products Stephen Cooley – Aurigen Reinsurance CompanyData Quality: Obsessed With Data… And For Good Reason

Genevra Pflaum, Moderator – Hannover Re

Evelyn Bradanovich – Pacific Services Canada Limited

Ellen Fedorowicz – Jackson National Life Insurance Company

Lisa Sher – SCOR Global Life Americas

The Future of Data Privacy and Security in Reinsurance and BeyondSimon Bell, Moderator – LOGiQ3

Attracting and Retaining Resources

Tonya Blackmore – Pacific Services Canada Limited

Roundtable Discussions

Initiatives Strategy

Purpose: To improve the effectiveness and efficiency of RAPA member's reinsurance understanding and processes. The initiatives work streams provides the opportunity for members to work together on education, training, and to benefit from robust collaboration with industry experts within the working groups.

Want to join an Initiative? Just contact one of the leads

Education: Dalia

Khoury

, Optimum Re

Dalia.Khoury@optimumre.com

Data: Genevra

Pflaum

, Hannover Re

Genevra.Pflaum@hlramerica.comRisk: Garfield McIntyre, Munich Re GMcIntyre@munichre.comWebsite: Tom Hartlett, Hartlett Consulting tom@hartlettconsulting.com Thinking of a new initiative? Submit your suggestion to Tom Hartlett [

tom@hartlettconsulting.com

]

or Greg LaRochelle [greg.larochelle@rbc.com]

Data Initiative Overview

Purpose

Create a document for Guidelines for Reinsurance Reporting, in essence a document of best practices for specific areas of reinsurance administration and data quality.

The

document

includes

information, samples and realistic scenarios. Topics

:

Reporting Issues

Communication/Notifications

Data

Quality

Conversions

Taking a Treaty from paper to system

implementationSamples of typical reinsurance reporting, i.e. Policy Exhibit, Transaction files, etc MembersGenevra Pflaum, Hannover Re

Rhonda Nielsen-Jackson

, Hannover

Ellen

Fedorowicz

, Jackson

National

Rajesh

Kavuru

, Swiss Re

Betsy Russell, Munich Re

Lisa

Sher

,

Scor

Re

Melinda

Bynoe

, Hannover Re

Robert McCloskey, RBC

Insurance

Par

Kambo

, RBC

Insurance

Lynn

Martone

, Swiss Re

Laurie Barrett,

Amica

Duane Pfaff, ING Re

Diana Aversa, Pacific Life

Grace

Sirianni

, Munich

Re

Evelyn Bradanovich, Pacific Services

Dzan

Dinh

, Munich Re

Eileen Ah-Fat, Canada Life

Karen

Lipka

, RGA

Michael Barnett, mL3 global

Jennifer

Atlee, Hannover Re

Data Initiative

Deliverables & Milestones

Version 1 was rolled out at the 2014 RAPA Fall Meeting

Version 2 is currently available on the RAPA website @

http

://

www.reinsadmin.org/data_learn_more.html

Version 2 contains 3 new sections in Reporting Issues including:

i) Changes in Policy Number

ii) Inforce and Transaction Not Reconciling

iii) Partial ReportingThe other sub groups are working on:Conversions group – Partial conversions, Inter-company conversions and ExchangesData Quality – Glossary of Terms including definitions, applicable lines of business and appropriate report/file for each field to be included inNotifications/Communication – Complete the new client reporting package, guidelines for what to include with claims submittals, and reserve sample reportingWill produce Version 3 with the above items for the 2015 RAPA Fall Meeting

Guidelines

Reinsurance

Reporting

Risk Management Initiative

Purpose

To

develop tools and techniques to provide guidelines on reinsurance

risk management methodology

and

approach. Particularly relating to risk assessment, and auditing and compliance reviews of the reinsurance administration function of the direct writers, reinsurers and retrocessionaires.

This initiative is divided into two sub-teams with focus on:

i) Reinsurance

A

dministration

R

isk

Assessment

ii) Reinsurance Administration Audit and Compliance ReviewsAreas of focus for 2015 include:Assess COSO’s Risk Management Framework and its use for Reinsurance Administration functionsDevelop a risk assessment tool for RAPA members to leverageAssess & develop a risk based audit planIdentify and catalogue industry leading reinsurance auditing practicesProvide relevant training to RAPA members on the risk management framework and risk based audit planning

Members

Garfield McIntyre, Munich Re

Jennifer Atlee, Hannover Re

Laurie Barrett, Amica

Barbara Beicker, USAA

Isabelle Calderon, Genre

Anthea Cote, Munich Re

Laura

D’andrea

, Prudential

Amalia Figueiras, Prudential

Nancy

Forry

, Ohio National

Sophie Lajeunesse, Munich Re

Shawn Murphy, Swiss Re

Ricky Peterson, Munich Re

Kelly Priest, Logiq

3

John Whitaker

Deliverables &

Milestones

Intent

is

to further

brainstorm the above deliverables during

(Jan

–

June 2015)

Build

out the relevant tools and techniques during

(July – Dec 2015)

Distribute & develop tools as well as provide

cross training on their use (likely during

2016)

Education Initiative

Purpose

Develop training

material presented as a workflow chart for different processing functions and ultimately have case

study

to

illustrate the impact of

processing by using the workflow charts.

Deliverables

&

Milestones

Phase One

New

Business/New treaty set up We have 3 sub-groups presenting the 3 different layers: Sub Group 1 – Direct by Q1 2015 (Vivian Tseng)Sub Group 2 – Reinsurance by Q1 2015 (Diana Aversa)Sub Group

3 –

Retrocessionaire

Q1 2015

(Pat Ellis)

Members

Dalia

Khoury, Optimum

Re

Ann Grace, Manu Life

Brenda Warner, Canada Life

Deidre Ward, Swiss re

Diana Aversa, Pac Life

Judy Brillert, Canada Life

Julie Dee Faris, CSC

Kim Brabham, Hannover re

Maribet Toledo, Lincoln Financial

Pat Ellis, RGA

Patty

B

ailey, Manu Life

Paula Boswell-

Beier

, RGA

Vivian Tseng, john Hancock

Vu Nguyen, Prudential

Education Initiative

Target Audience

Rapa

Web site

Training

material for newbies

Developing

Resources

Deliverables

&

Milestones

Phase Two Changes /Maintenance/Termination We have 3 sub-groups presenting the 3 different layers: Sub Group 1 – Direct by Q3 2015 Sub Group 2 – Reinsurance by Q 32015 Sub Group 3 – Retrocessionaire Q 3 2015

Members

Looking for volunteers and members to lead the new subgroups in Phase two

Education Initiative

NEWS FLASH!!LOMA online

courses

for

Reinsurance supplement

now at a reduced

cost of $100! Note: Reinsurance 101 presentation on the RAPA website

Breakout Sessions

Executive

Tom Hartlett

Planning

Stephanie Williams

Data Quality

Initiative

Evelyn Bradanovich

Risk Management Initiative

Kelly Priest

Education Initiative

Dalia Khoury