This presentation explores the importance of early detection of emerging trends in the insurance industry, focusing on both the pricing and reserving aspects. It discusses the evolving perspective of actuarial professionals on identifying and responding to emerging trends in various lines of business. The presentation highlights the challenges posed by traditional methodologies in keeping up with inflation and adaptation to the changing environment. It explores potential changes that need to be made in pricing and reserving methodologies to ensure they remain responsive and relevant.
Learning Objectives:
Recognize the shortcomings of traditional trend monitoring methodologies and explore resources for trend detection.
Explore alternative methodologies to identify emerging trends.
Understand capabilities needed to monitor trends and detect changes and identify drivers.
.jpg "Jen Jabben, FCAS photo")
.jpg "Mike McComis (he/him/his) photo")
