Technical Workshop on “Reserving & Pricing” – Riyadh

SHMA Consulting,organized a technical workshop in KSA on “Reserving & Pricing” on 5 November 2019 at Novotel Riyadh Al-Anoud, King Fahad Road, Riyadh.

In the beginning Mr. Ali Omer Golam Morshed gave an introduction about the SHMA Consulting group.

First session was conducted by Falak Sher Haider Soomro, ASA, on “Reserving”, in which he demonstrated reserving techniques followed globally in a simplified manner. The presentation covered technical approaches and practical aspects of claims and premiums side reserving including expected loss ratio, Chain Ladder, Bornhuetter Ferguson, the Unearned Premiums Reserve methods. With these techniques, he also touched stochastic claims reserving – the Mack method and Bootstrapping the Overly Dispersed Poisson – approaches. Finally, the presentation was concluded with latest market developments including new requirements under IFRS 17.

Second session on “Pricing” was conducted by Qadeeruddin Ahmed, ASA, CERA in which he shed light on the traditional pricing approaches for non-life insurance contracts covering the whole pricing process. An introduction on more advanced methods was also included. The session concluded with a practical example using a Generalized Linear Method (GLM) approach.

Workshop was attended by over 100 participants which included Mathematics / Statistics / Finance department students from King Saud University and Prince Sultan University and professionals from insurance industry. Participation certificates were issued to all participants. Shields were also given to Prof. Dr. Mhamed Eddahbi (Department of Mathematics, College of Science, King Saud University) and Dr. Alam I. Asadov, Department of Finance, College of Business Administration, Prince Sultan University). Both these professors thanked SHMA Consulting for conducting this workshop and assured of regular coordination in the future.