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Ceding Company Considerations Broker Service and CAT Models

Ceding Company Considerations Broker Service and CAT Models. Wanchin W. Chou, FCAS, MAAA Liberty International 2006 Seminar on Reinsurance New York Hilton June 1-2, 2006. Broker Service Quality. Accuracy of Presentation. CAT Modeling Service. Creativity. Broker. Reinsurance Placement.

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Ceding Company Considerations Broker Service and CAT Models

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  1. Ceding Company ConsiderationsBroker Service and CAT Models Wanchin W. Chou, FCAS, MAAA Liberty International 2006 Seminar on Reinsurance New York Hilton June 1-2, 2006

  2. Broker Service Quality Accuracy of Presentation CAT Modeling Service Creativity Broker Reinsurance Placement Claims Service Pricing Local Office Backroom Capabilities

  3. The Adequacy Of Reinsurance?

  4. Reinsurance Needs Geographic: • Where is the risk located? • What are the underlying requirements?

  5. Reinsurance Needs (Contd.) Catastrophe Loss: • Hurricane • Earthquake • Others

  6. Reinsurance Needs (Contd.) Risk Exposure: • What type of Product? liability? property? business? • Loss control environment

  7. Which CAT Models? • AIR, EQE, or RMS? • In House Models or Brokers? • Model Comparison • Accuracy & Prediction

  8. Achieving a Balance Different Models = Cost & Accuracy

  9. Reinsurance Placement • Reinsurer Capacity • Know-how • Best deal?

  10. Other Considerations • Claims & Service • Creativity • Local Office • Backroom Capabilities • Brokers’ relationship with regional operation • Market Intelligence

  11. Questions ?

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