Lynn Oldfield, President & Chief Executive Officer of AIG® Canada welcomes our brokers and clients to the 2017 RIMS Canada Conference in Toronto.
As we live in a global community, organizations are progressively exposed to risks outside of Canada – to people, operations, products and services. Combined with the seemingly daily change in the regulatory, economic and geo-political landscape, these changes increase the level of complexity for risk managers to effectively navigate through. This session will focus on the important practical considerations that need to be factored in when designing your multinational risk program to achieve your risk, governance and contract certainty objectives. In addition, the program will explore the real world implications and case studies of having a program that is not compliant with the evolving regulatory environment outside of Canada.
Date and Time: Monday, Sept 25 - 1:15 p.m. - 2:15 p.m.
Ryan Gustafson, Head of Complex Multinational, AIG
Martin Mankabady, Partner, Dentons LLP
Todd Henderson, Senior Director, Alternative Risk Financing–Risk Engineering and Insurance, SNC Lavalin
In the modern era of risk management the standard commercial insurance offering is evolving and expanding. In addition to traditional risk transfer products, insurers are developing and expanding their respective risk consulting, data and analytics, advanced modelling and risk engineering services. Disruption and innovation is prevalent throughout the insurance industry and broader economy. In order for risk managers to maximize the benefits they bring to their organizations, they will have to effectively navigate a world in disruption and leverage the forces of innovation.
But how? What role do traditional insurance companies and non-traditional enterprises to the risk management industry play in this journey? Learn how to leverage innovation to meet the needs of your business, ensure resiliency and reduce the total cost of risk. What new risk tools are insurance companies developing that can benefit their commercial clients? How can risk managers leverage new tools and expertise for the benefit of their organizations? How are insurance companies harnessing the recent wealth of innovation (including, IoT, big data and analytics, wearables, and other technologies) for the benefit of their clients? What role do non-traditional participants (i.e. data, digital, wearables and other Insurtech start-ups) in the commercial insurance industry play, and how do risk managers access and harness that innovative power for the benefit of their organizations?
Date and Time: Tuesday, Sept 26 - 1:30 p.m. - 2:30 p.m.
Marc Lipman – Chief Operating Officer, AIG
Anthony Lyons, Head of Technical & Analytic Solutions – CRS, AIG
Haytham Elhawary, President and CEO, Kinetic Wearable Technologies
Catherine Dowdall – Director, Insurance and Loss Control, Aecon Group Inc.
Senior Business Development Manager, Central Canada
Senior Business Development Manager, Central Canada
Vice President, Broker Engagement Leader & Western Canada Branch Manager
Casualty Manager, Montreal
Annick De Champlain
Casualty/E&O - National Construction Specialist Manager
Casualty/E&O - National Product Specialist Manager
Innovative technology can help make insurance simpler. Working with Standard Chartered and IBM, we successfully piloted the first multinational “smart contract” based insurance policy using blockchain. We chose to execute this initiative in one of the most complicated areas of Commercial Insurance – multinational risk transfer – to better understand blockchain’s potential to reduce friction and increase trust in other areas of the insurance value chain. Our pilot proved that blockchain technology allows visibility into coverage and premium payment at the local and master level as well as automated notifications to network participants following payment events. The pilot also demonstrates the ability to include third parties in the network, such as brokers, auditors and other stakeholders, giving them a customized view of policy and payment data and documentation.
The age of big data requires a level of trust and cooperation unimaginable a decade ago. That’s because the new economy is largely powered by data sharing. Digital platforms are making trust possible as never before – in everything from ride sharing, to telematics. Trust must permeate the workplace too: For businesses in the new economy to flourish, trust and data sharing between employers and employees is essential.
Turning big data into actionable intelligence requires the ability to find information that matters to your business. AIG’s Client Centric Analytics does this by using advanced analytics to pinpoint loss drivers, improve safety, and ultimately reduce the total cost of risk. Together with our clients, we help develop customized solutions and safety programs by looking for patterns in their claims data and that of their peers to predict areas of risk. Already we’re producing results for businesses across multiple industries. CCA quantified “frustration” in the claims process which led to the implementation of an advocacy program for a temporary staffing firm, helped a construction company calculate the return on investment for advanced safety gloves after understanding the true cost of hand injuries, and helped a hotel chain identify a leading cause of housekeeping injuries which is now impacting future room designs.
The first global survey of employee and employer attitudes toward data sharing, this report offers three key takeaways for participants in this new economy:
The report illuminates what it will take to ‘win’ in a world reliant on data sharing and outlines how employers can create a sharing-conducive atmosphere.
Multinational Program Design Tool Video
Explore the optimal approach to your multinational insurance program. This interactive tool will guide you through local regulations, tax exposures, and coverage issues based on information from more than 225 countries. Answer a few questions and, together, we can make better-informed decisions about the protection you need.
The best executed multinational programs rely on preparation and accountability across all parties. That’s why AIG has designed a collaborative, technology-enabled process that delivers expert program design, contract certainty, and puts our clients first.
AIG serves some 7,000 multinational clients in 200 countries and jurisdictions through a network of both wholly owned AIG offices and carefully selected network insurance partners, chosen for their local market leadership, strong relationships with local regulators, and commitment to our shared service standards. AIG and our network partners are closely aligned from policy issuance to claims handling. We are intricately linked by technology, so our multinational clients are assured of world-class service, timely policy issuance and accelerated claims handling around the globe.
AIG’s claims expertise brings certainty to clients in their time of need. We have exemplary experience handling claims – from first response, to ongoing claims communication, to ensuring a fair outcome at the conclusion of a claim. Our claims consultants have hands-on experience helping companies and employees recover from unprecedented catastrophic losses. While we pay out more than $120 million in claims every business day around the globe, we are most proud of our ability to be there, shoulder to shoulder with clients on any given day: When they face the problem of a lifetime, we’re there to solve it.
Businesses, cities and people continue to become more vulnerable to cyber threats as our world becomes even more connected. Cyberattacks can mean more than lost data, identity recovery, and multistate notification. They can mean reputational damage, bodily injury, and property damage as well. Constantly monitoring the cyber landscape, AIG keeps clients at the forefront of the industry as cyber risk continues to evolve. The preventative tools, technology, and expertise of our expert partners such as K2 Intelligence, Risk Analytics, IBM, and more provide our clients with the knowledge, training, security, and consultative solutions to help them stay ahead of the curve.
AIG recently surveyed cyber security and risk experts to gain a deeper understanding of their views on the likelihood and magnitude of a systemic cyber-attack. More than 90 percent of respondents said they believe that cyber risk is capable of impacting many companies at the same time. This report examines what this means for companies in various industries and the nuanced ramifications of this reality. It also provides practical insights for companies and brokers sizing up cyber risk and preparing for systemic attacks. For those insuring the exposures, insights support proper modelling and management of accumulation risk.
Client Risk Solutions (CRS) infuses AIG’s expertise and resources – from analytics and risk engineering, to technology – into innovative ways businesses can control losses, lower cost of risk, and seize opportunities. Enterprises across all industries, all over the world, use our customized plans to achieve measurable outcomes – and specific business aims, while safely navigating everything from operational challenges, to national catastrophes, to cyber vulnerabilities. Protecting people, property and business performance. Learn more.
AIG and Clemson University are partnering to develop risk models and analytics 50 – 100 times faster than standard computers. The result? Simulating one million hurricanes with storm surge along the U.S. east coast would normally take four years. It’s now done in four days. We’re not only accelerating modelling, we’re giving clients a higher resolution view of risk and the ability to look ahead as never before. Want to understand the impact of climate change on properties in the next decade, and the next? Learn more.
With Client Risk Solutions (CRS), AIG is going beyond insurance and focusing enterprise-wide expertise and resources on driving down our client’s total cost of risk. Combining risk consulting and engineering, state-of-the-market analytics and modelling, and specialized services and technology, CRS works to advance each client’s business aims, while mitigating exposure and building resiliency. This holistic approach enables clients to harness the full power of AIG and reap benefits that transcend any particular insurance product or transaction. It’s risk management, elevated to a new level.