The Resiliency of Risk Engineering and Risk Management – how traditional and innovative solutions prepare and mitigate risks

Speaker: Ellen Marie Michael (Zurich Resilience Solutions)

Cyber Criminals Get Creative: How to Prepare and Protect Your Business

As businesses increase their cybersecurity defenses, cybercriminals are resorting to more creative tactics. Double extortion, a tactic where cybercriminals demand a ransom for a decryption key while also threatening to leak sensitive data if payment is not made, along with more targeted attacks, are becoming increasingly common. This session will explore these emerging trends and highlights the importance of staying prepared in the face of evolving cyber threats. We’ll discuss what measures can be taken, such as regular cybersecurity training for employees, and how to boost preparedness to respond quickly to prevent cyberattacks from escalating into major ransomware claims, limiting potential downtime, reputational risk, and financial losses.

Speakers: Andrew Abolt (Marsh), Laura Meade (TDS) & Nathan Thomas (AXA XL)

Collaborating for Success: Evolved Solutions

When navigating the world of TPAs, the interactive exchange of information and ideas can be overwhelming. In this session, we will explore avenues that will help increase efficiencies and assist in accelerating positive outcomes impacting your end goals. 

Participants will have the opportunity to engage with a panel of subject matter experts consisting of a Risk Manager, a Carrier, and a Broker. It will cover a broad range of topics in which audience members will have an immediate impact, driving the discussion in a direction that is important and insightful in real-time. 

We aim to collaborate for success in an engaged discussion around the evolution of TPA solutions.

Speakers: Leslie Batterson (AON), Cathy Estock (CorVel Corporation), Christina Hayes (Safety National), Darren Stahulak (CorVel Corporation), Brad Tracy (CorVel Corporation), & Jonathan Falco (Encore)

How to Turn the Great Resignation into the Great Retention of Insurance Professionals

The workforce in the insurance industry is aging and moving into retirement. According to the U.S. Bureau of Labor Statistics (BLS), the number of insurance professionals aged 55 and older has increased 74 percent in the last ten years, leading the BLS to estimate that over the next 15 years 50 percent of the current insurance workforce will retire, leaving more than 400,000 open positions unfilled. 
The result of this is a substantial knowledge gap, and as an industry, we are not recruiting new talent at the same rate. A study by the Pew Research Center found that only 4% of Millennials are interested in working in the insurance industry. A major concern is whether this will ultimately result in a talent “cliff.” 
Fueled by innovations in technology, roles and skillsets have evolved — presenting companies with enormous opportunities to reevaluate and enhance their processes for attracting and retaining new talent. Third-party administrators, insurers, and risk management teams, alike, must become more creative and disciplined in their approach to generating awareness of the opportunities and interest with young talent to ensure a strong and stable future of insurance professionals. 

This presentation will focus on the key drivers impacting the current insurance talent landscape, including the effect of the recent pandemic, and the opportunities that exist to support an increase and ability to maintain an industry knowledge base, through best practices centered on the promotion of entry-level positions, identification of qualified individuals, implementation of best practices for training and developing future professionals, as well as the importance of reinforcing an organizations’ commitment to developing solid career plans throughout the process.

Speaker: Gail Bartholomew (Nouryon), Matt Cloud (ESIS), Katie Rabs (LaSalle Investment Management)

Harnessing AI to Reduce TCOR

Speaker: Carlos Dezayas (Kraft Heinz) and Michael Paczolt (Milliman)

Your Future in the Risk Industry: Q & A and Discussion for Rising Risk Professionals

“Your Future in the Risk Industry” is a session designed for Rising Risk Professionals within RIMS and the Risk Industry. Rising Risk Professionals will get to listen to the bio’s and paths of 3 different Professionals in the Risk Industry within Disaster Response, Property Practice, and Insurance Brokerage. In this session, we will open up visions for Rising Risk Professionals to all the paths and networking available to be the best Risk Professional possible. Attendees will see the Bio’s and paths of 3 young and successful industry professionals. Attendees will have a open session to ask all questions pertaining to them and their futures. All speakers will be available to attendees during the session and after the session to mentor them in their careers.

Speaker: Mike Atsalis (Canopius US Insurance, Inc.), Gordy Brill (Marsh), & Cal McCarty (ServiceMaster)

Getting Creative: How a Single Parent Captive can Mitigate the Hard Property Market

In this session, we will delve into how Artificial Intelligence (AI) and Machine Learning (ML) are transforming the insurance industry, with a particular focus on reducing the Total Cost of Risk (TCOR). We will explore the application of these advanced technologies in processing claim data, enhancing risk management decision-making, and ultimately reducing loss experience. While the focus will be on workers’
compensation, the concepts shared are applicable to other lines of business as well. Attendees will gain an understanding of TCOR, and how AI and ML can help lower it, paving the way for more efficient, cost-effective, and robust risk management strategies.

Speakers: Ted Allen (USI Insurance),  Douglas O’Brien (USI Insurance), Jesse M. Olsen (Strategic Risk Solutions), & Theresa Severson (Retail Properties of America, Inc.)