Where: Leonardo City Tower Hotel, Ramat Gan, 14 Zisman St., Ramat Gan, Israel
When: Wednesday, June 20th, 2012
Time
Presentation
8:30-9:30
9:30-10:00
10:00-10:45
Registration
Introduction from the Israel Association of Actuaries
Earthquake Risk in Israel - Dr. Avi Shapira
chairman, National Steering Committee for Earthquake
Preparedness Prime Minister's Office
Background to AIR and Introduction to Cat Modeling
10:45-11:15
Introduction to AIR as a company, overview of perils and regions
currently supported and a summary of the key concepts and
components related to cat modeling
11:15-11:30
11:30-12:30
Break
AIR’s Earthquake Model for Israel
The three main modules of AIR’s Earthquake Model for Israel will be
discussed in detail: Hazard, Vulnerability and Financial.
12:30-13:00
Demonstration of AIR’s Detailed Software Platform
Using the example of Israel earthquake risk, AIR will demonstrate how
their detailed software platform is used by insurance companies and
reinsurance brokers. The use of the platform for facultative reinsurance
will also be covered.
13:00-14:00
14:00-14:30
Lunch
Demonstration of AIR’s Aggregate Software Platform
Using the examples from the previous session, AIR will demonstrate
how their aggregate software platform is used by reinsurers. The use of
the platform for modelling cat bonds and portfolio roll-up purposes will
also be covered.
14:30-15:15
15:15-15:30
15:30-16:00
Tsunami hazard evaluation for Israel – the past is the key to the
future- Dr. Amos Salamon , Geological Survey of Israel
Break
Review of Cat Events of 2010, 2011 and 2012 to Date
2010 and 2011 were significant years for earthquake events across the
globe. AIR’s ALERT (AIR Loss Estimates in Real Time) results and
processes will be discussed in detail using the examples of earthquakes
in Chile, New Zealand and Japan.
16:00-16:30
The Application of Cat Modeling in the Context of Solvency II
16:30-17:00
The regulatory requirements for Solvency II are expected to take effect
in 2015. AIR will review the best practice regarding the incorporation of
cat modelling within the Solvency II framework.
Closing Remarks
3 ‫ מתוך‬1 ‫עמוד‬
AIR Worldwide (AIR) is the scientific leader and most respected provider of risk
modeling software and consulting services. AIR founded the catastrophe modeling industry in 1987
and today models the risk from natural catastrophes and terrorism in more than 90 countries. More
than 400 insurance, reinsurance, financial, corporate, and government clients rely on AIR software
and services for catastrophe risk management, insurance-linked securities, detailed site-specific wind
and seismic engineering analyses, agricultural risk management, and property replacement-cost
valuation. AIR is a member of the Verisk Insurance Solutions group at Verisk
Analytics (Nasdaq:VRSK) and is headquartered in Boston with additional offices in North America,
Europe, and Asia.
AIR has been modeling Earthquake risk in Israel since 1997, and in July 2011 a significant update to
the hazard and vulnerability was integrated in to the software for this region. In today’s seminar AIR
will be presenting the individual components of the Israel Earthquake model, providing a
comprehensive insight into the hazard, engineering and financial aspects. AIR will then be
demonstrating their detailed and aggregate software. This will help illustrate how their clients use
the products on a daily basis as an aid to managing their Cat risk. The final two sections of the
seminar will begin with the integration of Cat Modelling for Solvency II compliance, followed by a
review of the 2010 and 2011 Cat events.
Giovanni Garcia, Vice President and Director, Client Relations
Giovanni Garcia is Vice President in AIR’s London office. He is responsible for the team providing
support and service to AIR clients in the U.K. and continental Europe. In this role, Mr. Garcia also
provides support to AIR’s global Business Development team. Mr. Garcia received a BEng degree with
Honours in Civil Engineering from the University of London, Queen Mary’s College. Prior to joining
AIR, he was a manager working with a U.K. insurance intermediary where he was responsible for the
office’s Sales and Client Services teams.
Shane Latchman, Senior Research Associate
Shane Latchman is a Senior Research Associate in AIR’s London office. In his role at AIR, Mr. Latchman
liaises with clients and regulators, facilitating the link between external models on Solvency II. He is a
member of many catastrophe modeling and actuarial industry groups including recent collaborating
on the ABI Solvency II Best Practices document and a Solvency II actuarial working party. Mr.
Latchman also assists with the development of AIR’s financial module. He is responsible for providing
client training and developing materials in support of AIR’s peril models and software products. Mr.
Latchman received a BSc with honours in Actuarial Science from City University. He received a
Masters in Mathematics from the University of Cambridge. Mr. Latchman is keenly interested in
getting non-catastrophists interested in the catastrophe modeling industry and continues to publish
articles on the topic.
3 ‫ מתוך‬2 ‫עמוד‬
Chris Marsham, Senior Client Services Associate
Chris Marsham is a Senior Client Services Associate in AIR’s London office. He was responsible for
building AIR’s Data Services divisions in Hyderabad, London and Boston and continues to oversee this
work. He has participated in numerous bespoke projects and is heavily involved in training and
model validation. Previously, he worked as a Senior Analyst for Capita London Market Services in their
CAT Modeling team where he gained valuable insight into the London insurance market and solid
familiarity with CLASIC/2™ and CATRADER®. Chris received a BSc in Marine Biology from Queen
Marys, University of London.
Milan Simic, Ph.D., Senior Vice President and Managing Director, AIR Worldwide Ltd.
As Managing Director of AIR Worldwide Ltd., Dr. Milan Simic is responsible for managing strategic
operations in London. He oversees the business development and client services teams and provides
strategic input into AIR’s international research efforts. A civil engineer by background, Dr. Simic has
more than 20 years of experience in risk assessment, engineering consulting, research, and teaching.
He is a Chartered Engineer through the UK Institution of Civil Engineers, a regular speaker at
catastrophe-related conferences and has authored numerous papers and feature articles on the
subject of insurance loss assessment and soil-structure interaction. He is also a Member of the OECD’s
High-Level Advisory Board on Financial Management of Large-Scale Catastrophes.
Caroline Dawber Ph.D, Client Services Associate
Caroline Dawber is a recent addition to the Client Services Department in AIR’s London office. In her
role at AIR, she assists with client training and queries relating to AIR model software and hazards.
With a background in Earth Sciences, Caroline has previously worked as a postdoctoral research
scientist at the University of Cambridge investigating the impacts of anthropogenic climate change on
ocean chemistry. She received her Ph.D from the University of Cambridge, and has published several
peer-reviewed papers specializing in past variations in sea level, glaciation and climate change. She
also has a undergraduate Masters degree in Earth Sciences from the University of Oxford. Caroline is
specifically interested in the role of the catastrophe modeling industry in adapting to future climate
change.
3 ‫ מתוך‬3 ‫עמוד‬