RAPA 2014 Spring Meeting

April 1, 2014

2014 RAPA Spring Meeting

Agenda

Welcome and Introductions Organization Update Committee and Initiative updates

Audit Initiative Data Quality Initiative Education Initiative

Treasurer’s Report Communications Committee Planning Committee Committee and Initiative breakout sessions Adjourn

Organization Update

Incorporation Status

Certificate of Incorporation filed October 21, 2013 as a 501(c)(6) with Delaware

Costs for incorporation and tax exempt status are $5,500, primarily attorney and filing fees with Delaware and the IRS

Costs to maintain incorporation are appx. $1,000 annually First meeting of Board of Directors to establish bylaws for the

company was Sunday October 26, 2013. Voting members approved updated bylaws November 29,

2013. Updates primarily reflected the Delaware requirement of a Board of Governors, which is in the prior Executive Committee.

Form 1026 filing as a 501c6 tax exempt corporation was filed February 28, 2014. We are awaiting approval from the IRS of tax exempt status.

Organization Update

Board of Governors Tom Hartlett – Chair Greg LaRochelle – Vice Chair Shaun Downey – Past Chair Kim Langstaff – Treasurer Susan Whitehead – Secretary Stephanie Williams – Planning Chair Anthony Rotondi – Communications Chair

RAPA 2014 Spring Meeting

April 1, 2014

Initiatives Strategy

Purpose: To improve the effectiveness and efficiency of RAPA member's reinsurance understanding and processes. The initiatives work streams provides the opportunity for members to work together on education, training, and to benefit from robust collaboration with industry experts within the working groups.

Want to join an Initiative? Just contact one of the leads

Education: Dalia Khoury, Optimum Re

Dalia.Khoury@optimumre.com

Data: Genevra Pflaum, Hannover Re

Genevra.Pflaum@hlramerica.com

Audit: Garfield McIntyre, Munich Re

GMcIntyre@munichre.com

Thinking of a new initiative?

Submit your suggestion to Tom Hartlett [tom.hartlett@aurigenre.com] or Greg LaRochelle [greg.larochelle@rbc.com]

Audit & Compliance InitiativePurpose

To develop tools and techniques to provide guidelines on reinsurance audit methodology and approach. This may include an update to the current available resources to reflect leading practices, develop a standard audit program that can be modified as needed, and providing relevant training on auditing techniques. Topics:

Reinsurance auditing trends

Leading reinsurance auditing practices

Update the available auditing resources (i.e. the “Operational Risk Management” book) in order to share relevant auditing methodology, leading practices, and tools.

Provide relevant training to auditors within the reinsurance industry using the framework within the “Operational Risk Management” book.

Deliverables & Milestones

1) Intent is to brainstorm auditing trends and develop potential leading practices by 2Q – 3Q 2014.

2) Develop a standard audit program, that can be customized as needed during 3Q – 4Q 2014.

3) Align the Operational Risk Management book by updating it to reflect the latest auditing trends, leading practices, and available tools that are being used in the industry during 3Q2014 – 2Q2015.

4) Provide a break-out training session (2 – 4 hours) during the 2015 fall conference, and periodically going forward.

*Note: The agreed deliverables and timeline will be determined after initial committee meeting(s) are held.

Members (sub-groups)

Þ Garfield McIntyre, Munich Re

Þ Looking for volunteers

Operational Risk

Management

Data InitiativePurpose

Create a document for Guidelines for Reinsurance Reporting, in essence a document of best practices for specific areas of reinsurance administration and data quality. The document will include information, samples and realistic scenarios. Topics: Reporting Issues Communication/Notifications Data Quality Conversions Taking a Treaty from paper to system implementation Treaty Compliance Samples of typical reinsurance reporting, i.e. Policy

Exhibit, Transaction files, etc

Deliverables & Milestones

1) We have 5 sub groups tackling different topics. Each sub group is working on 2-3 topics to complete documentation on by April 2014. Other topics will be noted for future target dates.

2) Any additional topics will be decided on in the later part of 2014

Members (sub-groups)Þ Genevra Pflaum, Hannover Re

Þ Rhonda Nielsen-Jackson, HannoverÞ Ellen Fedorowicz, Jackson NationalÞ Rajesh Kavuru, Swiss ReÞ Betsy Russell, Munich ReÞ Lisa Sher, Scor ReÞ Melinda Bynoe, Hannover ReÞ Robert McCloskey, RBC insuranceÞ Par Kambo, RBC InsuranceÞ Clay Fowler, Scor ReÞ Lynn Martone, Swiss ReÞ Laurie Barrett, AmicaÞ Duane Pfaff, ING ReÞ Diana Aversa, Pacific LifeÞ Grace Sirianni, Munich Re

Guidelines

Reinsurance

Reporting

Education InitiativePurpose

Develop training material in case study format to illustrate the impact of processing. The document will include real life examples with fictive names in order to keep the confidentiality of the material. Topics: Financial Impact to Business Rules (System) Financial Impact to Conversion Process (File

Mapping) assumed side to retro

Deliverables & Milestones

1) We have 2 to 4 sub-groups tackling different topics. Each sub group is working one topic to complete documentation on by June 2014. Other topics will be noted for future target dates

2) Any additional topics will be decided on in the later part of 2014

Members (sub-groups)

Þ Dalia Khoury, Optimum Re

Þ Looking for volunteers

Business Rules

Conversion Process

RAPA 2014 Spring Meeting

April 1, 2014

Treasurer’s Report

 

Reinsurance Administration Professionals Association      

Business Advantage Checking 2014 Treasurer's Report as of March 31, 2014 Totals U$

  Opening Balance $ 200.00

$ 200.00

  Income  

  Deposits - Wire transfer of funds from Canadian Account $ 19,990.00

$ 20,190.00

  Deposits - Wire transfer of funds from Canadian Account $ 5,374.16

$ 25,564.16

  Offset of Bank Account Fees 0.00 $ 25,564.16

  Expenses  

   

  Check: US Treasury for IRS Form 1024 filing fees $ 850.00 $ 24,714.16

 Check: Bob Kennedy for reimbursement for Net Solutions web hosting fees $ 95.40

$ 24,618.76

  Check card: GoDaddy Website Fees $ 498.56 $ 24,120.20

  Check card: GoDaddy Website Fees $ 499.74 $ 23,620.46

  Bank Account Fees 0.00 $ 23,620.46

  Totals $ 1,943.70

$ 25,564.16

$ 23,620.46

   

   

  Created By: Kim Langstaff  

  Treasurer  

   

         

RAPA 2014 Spring Meeting

April 1, 2014

Communications

Social Media Website Membership

• Started in Oct 2012• Allows for user updates

and interaction• Used to ‘push’

information to members• Used to direct people to

the website• ‘somewhat’ successful

• Is the source of all RAPA information

3 areas for change…• Usability• Content (ie tool for sharing

initiative and other information)

• Online annual renewal and conference registration

• Online payments

• Partially through the website, partially manual

• Issues with tracking, etc

Communications

Social Media Website

Membership

Communications

What has been done / where are we now:• Changing hosts to allow for more up-to-date functionality (Feb

2014)• Adding pages which are required for online banking (Mar 2014)• Approval from bank to proceed with online payments (Mar 2014)

Next Steps:• Work with the bank to make online payments available• Ensure membership process is working and available to members• Content

RAPA 2014 Spring Meeting

April 1, 2014

Planning

2014 Fall Conference

Sunday, October 19th – Tuesday, October 21st

The Palms Hotel & Spa

3025 Collins Avenue

Miami Beach, Florida

City View Room: $220

Planning

Planning Presentations

Claims Administration John Carroll – TAI Life Reinsurance Systems

Accurate Cessions & Retrocessions James McCormack – Transamerica Life Insurance Company Dale Krause – Canada Life Assurance Company

Treaty Provisions Panel Moderated by Diane Hare – RGA International Reinsurance

Company Limited

Claim Trends and Social Media’s Influence on Claims Investigations Kevin Glasgow – Munich Reinsurance Company of America

Boosting Morale Michael Pado – Aurigen Reinsurance Company of America