|the international society of CATASTROPHE managers|
On September 19, ISCM members gathered in New York City for the organization’s annual educational event. The morning sessions revolved around the overarching theme of model completeness and kicked off with presentations on energy risks and claims handling. Attendees were educated about modeling energy infrastructure followed by assignment of benefits in the Florida market. Next up was a rating agency’s perspective, which highlighted the different viewpoints each rating agency has on catastrophe models. The morning was rounded out with an intriguing presentation on artificial intelligence and its problem domain. Over lunch, members were given an update on the ISCM/iCAS Credential program.
The afternoon was packed with a climate focused agenda, beginning with a state of the science followed by an informative session on the Actuaries Climate Index. Two model vendors shared insight on the opportunities, challenges, and confidence levels for different perils that comes with modeling climate change, and the sessions wrapped up after hearing from three different organizations in the climate consulting space, each bringing unique services to the market.
Less than two weeks later, an additional seminar was held in Chicago with a similar agenda to New York’s event, albeit different speakers. Model completeness discussions at this event revolved around data quality, with similar presentations on claims handling and rating agencies’ viewpoints to that of New York. In the afternoon, the climate change presentations touched on the volatility and uncertainty that exists by peril. Chicago attendees also learned about the Actuaries Climate Index, followed by two additional model vendors briefing the audience on climate change from a flood perspective and a general modeling perspective. The afternoon sessions wrapped up with a fascinating presentation relating climate and supply chain.
Both events closed out with a meet and greet session where presenters and attendees were provided with the opportunity to network over some food and drinks. Overall, a total of 95+ individuals from 36 organizations participated across both events. Some feedback received from attendees at both sessions is as follows:
“The topics were thought provoking, engaging, and certainly very related to cat modeling.”
“I found [the ISCM event] helpful for understanding the needs of the field.”
“The quality of the … presentations was very good this year… The information was well worth being out of the office for a day.”
“I thought that the day was filled with great presentations and a lot of useful information. The networking event after was also a perfect opportunity to meet and discuss with fellow individuals in the catastrophe industry.”
The ISCM is looking forward to seeing another great turnout next year!