This year the annual Risk Management Society (RIMS) conference is in our neck of the woods, which is very exciting! We are looking forward to playing host and showing colleagues and clients around town.
RIMS is one of the most renowned events in the risk management and insurance spaces, for which we have been proud sponsors and participants for over a decade. This year, we are delighted to not only be a sponsoring exhibitor, but to be speaking as well. Spring’s Senior Actuarial Consultant and Property & Casualty Practice Lead, Peter Johnson, will be leading a session, “IBNR: Your View Versus the Actuary’s” on Tuesday, April 30th from 1:30-2:30PM. He will be joined by Lynn Tenerowicz, Vice President and Chief Risk Officer at Baystate Health. The pair will be doing a deep dive on Incurred But Not Reported (IBNR) claims, covering:
- Term definition
- The differences between your view as the employer and an actuary’s on reporting and calculations
- Different reserving methods and their pros and cons
- IBNR industry trends and benchmarks across different coverage and benefit lines
- Loss development methods
- The effects of claim frequency and severity
- The impact of IBNR on a company’s financials
The presentation will include a case study and plenty of graphics to help paint the picture for you. This session is great for risk and claims managers of all industries, or anyone simply looking to learn more about financials.
We hope you can make it! But if you can’t, please be sure to stop by booth 579 to chat with our team throughout the 3-day event.
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