Trainings

"Tailor-made training": according to this principle, Meyerthole Siems Kohlruss (MSK) offers further training for a variety of actuarial topics in the field of property and casualty insurance.

Drawing on many years of actuarial expertise, Meyerthole Siems Kohlruss (MSK) offers training courses that prepare you for relevant actuarial topics and teach effective best practice approaches.

The format of the training courses differs individually. For example, several days of on-site observation on our premises, extensive training on your premises or compact training in the form of video conferences are all conceivable. The aim is to prepare you for actuarial activities, refresh your knowledge and transfer actuarial know-how.

The training courses are aimed at the following target groups:

• Newcomers to the actuarial profession: A job shadowing is offered which includes comprehensive further training. In addition to an insight into actuarial topics, there is the opportunity to watch experienced actuaries at work (especially interesting for small insurance companies).
• Experienced professionals wishing to deepen their knowledge of certain topics: Employees with a professional focus can deepen their knowledge in the respective areas and exchange best-practice approaches. This can take place over several days or in a compact format (especially interesting for medium-sized to large companies).
• Board training: Meyerthole Siems Kohlruss (MSK) offers a compact training course for board members/supervisory board members with a variety of topics. This frequently requested variant includes training on supervisory law in the course of the requirements of Solvency II. The aim is to train you further according to the principles of "Fit & Proper".
• Actuarial Seminar: In addition to individual training courses, Meyerthole Siems Kohlruss (MSK) launched the "Actuarial Seminar" in 2013. Since then, different lines of business and topics have been highlighted annually and compact know-how has been imparted at two-day seminars.

Work Shadowing at Meyerthole Siems Kohlruss (MSK)

An intensive exchange is particularly helpful for newcomers to the profession. This can, for example, be about raising awareness of the challenges that often recur in everyday professional life or about the "pitfalls" in daily actuarial work. Meyerthole Siems Kohlruss (MSK) provides recommended approaches based on suitable practical examples during an observation over a period of one or several days. The participants receive a detailed introduction to actuarial methods, evaluation systems, best practices and possible tools. The results of the practical examples, some of which they have worked out themselves, will be discussed and interpreted. In order to train the participants’ view of the big picture, implications of the results for the insurance company are discussed as well as appropriate ways to communicate with the addressees. True to the motto "every question is allowed", the knowledge transfer is tailored individually. Special features specific to the insurance sector will also be addressed in detail. Participants are invited to submit their own topic requests or sector-specific focal points to us in advance.

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In-house Training

For an in-house training, experienced consultants will come to your company. The personal contact makes it possible to respond particularly effectively to the questions and needs of the participants. At the same time, you save on travel expenses, which is why this training option is more suitable for larger groups of around five participants or more. Typically, the training takes one day, but two hours or two days are also possible time frames.

The training will be tailored to your target group as well as to your individual topics. Popular topics are listed below. If required, Meyerthole Siems Kohlruss (MSK) integrates interactive workshop elements into the training so that specific questions can be tackled in the group – for example, transferring the points learned in the training to the company's own processes.

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Training on Pricing

For those interested, Meyerthole Siems Kohlruss (MSK) offers trainings on pricing. A clean analysis database forms the basis for any modelling. So one focus of the training is on data validation and preparation. In addition to syntactic and content checks, the procedures for dealing with major losses will be central points. Based on an actuarial analysis database, the entire process of actuarial rate calculation can be run through in the course. Starting with the selection of tariff features, actuarial cluster procedures are presented as well as possibilities to check dependencies and to combine features appropriately. The modelling approaches are manifold. In addition to classical methods such as generalized linear models, modern machine learning methods can also be part of the training – as well as the determination of tariff levels considering trend analyses. Furthermore, the question of how an actuarially calculated tariff can be converted into an operative market tariff is answered. Depending on the size of the company and the line of business, purely data-based statistical statements can be difficult. In numerous projects Meyerthole Siems Kohlruss (MSK) has developed suitable approaches, which are also taught in the training. The training is not just pure theory; all content is taught using practical examples. These can also be current cases of our customers. That way, valuable practical tips from experienced actuaries flow directly into your rate calculation.

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Reinsurance Training

In its reinsurance training course, Meyerthole Siems Kohlruss (MSK) takes the perspective of both reinsurance companies and reinsurance buyers. Meyerthole Siems Kohlruss (MSK) offers tailor-made training for individual needs, from an overview of individual reinsurance structures and their application in different lines of business to individual needs assessment and quotation of reinsurance contracts. Meyerthole Siems Kohlruss (MSK) also provides important information on the assessment of reinsurance programs within the framework of the individual risk strategy.

Meyerthole Siems Kohlruss (MSK) draws on many years of expertise from various projects on the topic of reinsurance. In addition to the actuarial valuation methods for the traditional forms of risk transfer, individual forms of reinsurance – also structured – as well as their mathematical valuation are presented. However, the mathematical tool is only one facet of the valuation. It is complemented by many years of market experience and the resulting standards. Especially when data are sparse, as is often the case in some lines of non-proportional reinsurance, the know-how that goes beyond mathematics is crucial.

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Trainings on Solvency II

The topic of Solvency II is complex. In addition to providing the necessary capacities to implement the three pillars, it is important to keep up to date with innovations and developments in the regulations.

In addition to an introduction to the supervisory system of Solvency II, the three-pillar model is dealt with, which includes, among other things, the solvency capital requirement (SCR) or the company's own risk and solvency assessment (ORSA). The Solvency and Financial Condition Report (SFCR) and future regulatory topics are also discussed.

The training courses are tailored to your needs. Meyerthole Siems Kohlruss (MSK) offers compact training for management boards/supervisory boards on supervisory law and the requirements of Solvency II, among other things. This is becoming increasingly important, especially against the background of the "Fit & Proper" requirements. However, Meyerthole Siems Kohlruss (MSK) also offers intensive trainings to newcomers to the industry, which efficiently convey actuarial expertise and make them fit for the job. Meyerthole Siems Kohlruss (MSK) also takes into account the use of (own or already existing) software solutions in the Solvency II context.

Meyerthole Siems Kohlruss (MSK) provides actuarial consulting services and strategic know-how. This makes it possible to meet the requirements in an efficient manner without losing sight of the actual business.

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Training on reserve valuation

It is important for insurers and reinsurers to have a clear picture of future benefit obligations and the costs associated with their settlement. In addition, different accounting standards have to be taken into account when valuing the provisions. Keeping track of this is sometimes not easy. For example, local accounting according to German Commercial Code tends to be characterized by prudence and conservative approaches, whereas Solvency II and IFRS are based on an economic view and the use of market values. Moreover, the latter two have partly different approaches as to how such a market value view is to be achieved.

Meyerthole Siems Kolhruss (MSK) has extensive expertise in the valuation and accounting of technical provisions. In more than twenty years of company history, Meyerthole Siems Kohlruss (MSK) has already assisted a large number of companies with these issues. These include primary insurers, reinsurers and captives.

A training course can address methods and procedures for assessing the appropriate level of obligations or applicable accounting principles for the different subcomponents of technical provisions. Either valuations according to commercial law (e.g. IBNR) or according to Solvency II (e.g. best estimate provisions) or according to IFRS 17 (e.g. building block approach) can be part of the training scope.

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Actuarial Seminar

The actuarial seminars are an annual format aimed at young professionals and managers who want to deepen their actuarial background knowledge.

Basic principles and current developments in the selected lines of business are presented in a compact form. A key element are practical presentations by employees of Meyerthole Siems Kohlruss (MSK) or by external speakers from insurance and reinsurance companies, consultancies, start-ups and law firms.

The seminar usually takes place in the first half of the year. The content of the seminar is determined on an annual basis. The seminar lasts a total of two days so that all participants have enough time to build up new know-how, to expand on what they already know and to clarify arising questions with the experts. Having dinner together on the first day offers the opportunity to exchange ideas with experts in a relaxed atmosphere and to develop new ideas together.

The actuarial seminar has so far covered the following topics, among others:

• Actuarial practice – Legal protection insurance
• Actuarial practice – Accident insurance
• Actuarial practice – Motor insurance
• Actuarial practice – Homeowners’ insurance
• Actuarial practice – Commercial insurance

Click here for the announcement of the next seminar.

If you would like to give an external lecture for an upcoming seminar, please contact us. We are looking forward to your expertise!

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