Webinar #1 Scenario testing for ORSA: key take-away’s from COVID-19 crisis

Agenda:

1. Purpose of the ORSA: test adequacy of own funds given insurer risk profile
2. Reminder about the latest macro evolutions: understand what's going on
3. How the latest developments might have impacted the insurer’s vulnerabilities
4. Guidance on how to develop and calibrate scenarios for ORSA

Abstract:

Scenario testing is a key component of the ORSA process for insurance companies. Given the exceptional level of uncertainty ahead, considering a pertinent range of scenarios is a key step for insurers to prepare their management responses and make appropriate strategic decisions.

The main goal of the ORSA scenario testing is to assess the impact of plausible risk scenarios which are not captured by quantitative models. It helps insurance companies in preparing management actions and assess their plausibility given current/stress context.

This webinar deep dives into the latest macro evolutions to understand what’s going on and to show how the current developments might have impacted insurer’s vulnerabilities.

We will provide guidance on how to develop and calibrate scenarios to take these latest changes, as well as other rare events, into account in your ORSA.