Big ‘I’ Virtual University’s Boggs Gets Award for Reinsurance Research

By | May 16, 2017

Big “I” Virtual University Director Christopher “Chris” J. Boggs has received a prestigious award in London for a paper he and a group of industry professionals authored about the disconnect between information sought by reinsurers and information they commonly receive in a cedent’s submission.

He and his co-authors were awarded 2016’s Brian Hey Prize by the Institute and Faculty of Actuaries (IFoA) during a recent ceremony in London. The paper is titled “Analyzing the Disconnect Between the Reinsurance Submission and Global Underwriter’s Needs.”

Boggs was the only non-actuary U.S. member of this cross-discipline team, which comprised actuaries, underwriters, and educators from all parts of the world, according to a statement released by the Independent Insurance Agents & Brokers of America (IIABA or Big “I”).

“Chris Boggs’s contributions to the industry are countless and his recent international recognition with the Brian Hey Prize is further evidence of his scope and wealth of industry knowledge,” says Madelyn Flannagan, Big “I” vice president of agent development, education and research. “The Big ‘I’ is proud to have Chris on our team as the head of the association’s Virtual University.”

Prior to joining the Big “I” last year, Boggs served as vice president of education for Wells Media Group’s Academy of Insurance. (Wells Media Group is the parent company of Insurance Journal, Carrier Management and Claims Journal).

“Chris’s contribution to this white paper, prepared for the global property market, was invaluable,” says John Buchanan, co-author of the paper and chair of the IFoA-Casualty Actuarial Society (CAS) joint working party. “When I had previously seen Chris present in his university capacity, I made a mental note that he would be a terrific addition to any future similar industry endeavor.”

The paper was sponsored by the IFoA and CAS, which jointly created the International Pricing Research Working Party to study the gaps between property reinsurance submissions and the information preferred and needed by property reinsurance underwriters.

Brian Hey Prize

The Brian Hey Prize is usually awarded for the best research paper submitted to the IFoA’s annual General Insurance Research Organizing (GIRO) Conference.

The prize was established by London-based IFoA in 1998 in memory of its namesake who was a well-respected senior actuary. In his memory, his family and employer donated funds to further actuarial research and the IFoA has used this to establish a research-based prize in his memory.

In addition to Boggs, the paper’s other listed contributors are John W. Buchanan (chair), Mohamed S. Afify, Shayne Andrews, Enrico E Biffis, Lawrence Cheng, Paul Gates, Eric Greenhill, Yin Hang, Kevin Hilferty, Mandy Kisala, Xiao-Xuan (Sherwin) Li, Ana J. Mata, Eoin O’Baoighill, Josiah Ogungbesan, Adam P. Shrubshall and Bei Zhou.

The paper can be downloaded from the IFoA website.

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