News and Views Issue #33 June, 2018

Transcription

1 News and Views Issue #33 June, 2018 President s Message We are almost halfway through the year and I can t help but think of all the accomplishments we ve had so far. From our annual NH Insurance Commissioner s Breakfast, to our annual Ski Day, to offering a Risk Management workshop for CE credits, the chapter s leadership is committed to providing you with quality events to enhance your engagement and the value of your membership. NH CPCU Chapter President Daniel Sepulveda, CPCU, ARe Along with the three (3) events mentioned above, we had a wonderfully-organized AI (Artificial Intelligence) Lunch N Learn held at Liberty Mutual s Dover campus. Allow me to call for a special shout out to Steve Vitali as he walked us through the evolution of AI and the hurdles currently being encountered by our industry. Long story short-it s happening and it s revolution- izing our industry with faster and more competitive products to markets and changing the way humanity relates with technology. As Steve so clearly illustrated, the impact of AI on our industry and humanity, I can t help but think of the profound implications as the industry learns and uses AI more effectively and efficiently. I wonder if Small Commercial will solely be underwritten using algorithms instead of underwriting judgment? If it s been a while since you ve attended a locally scheduled event, there s no better way to reconnect than over some appetizers and beverages at the Stone Face Brewery from 5-7 pm on June 20 th. Thanks to our Vice President, Brittany Luther, for spearheading this pop-up event out our behalf. I hope you all enjoy your summer and I hope to see you soon at an upcoming event! Dan

2 Our NH Chapter was represented at the CPCU Society s 2018 Leadership Summit by Upper New England Territory, Northeast Region Governor Andrea Gately, CPCU and NH Chapter Secretary and Society Agent Broker Interest Group (ABIG) Leadership Team member, Richard Coskren. This event was held at the Baltimore Hilton. Both participated in numerous leadership-focused events structured to support both new chapter officers and volunteer designation holders now or planning to be involved in current and/or Society initiatives. Hosted by the Maryland CPCU Chapter, the hundreds attending this exciting and informative event were welcomed by Troy Baldwin, MBA, CPCU, AU, President and Chair of the CPCU Society Leadership Council and treated to a riveting keynote address by Dante Disparte, Governor Gately and Secretary Founder and CEO of Risk Cooperative and Founder and Coskren in Baltimore Chair of the Business Council for American Security. NE Region Governor and NH Chapter Secretary Attend CPCU Society 2018 Leadership Summit Whether listening to Mr. Disparte s description of the urgent need for leadership in a risk management and insurance industry operating amid unprecedented man-made and natural economic losses, rapid technological change, workforce disruptions and low interest rates, The Institutes President and CEO Pete Miller s luncheon remarks on the state of the Society, new CPCU Society Executive Director Valerie Cammiso s thoughts and her areas of focus or Immediate Past President and Chair of the Leadership Council (and speaker at our Chapter s 2015 New Designee conferment event) Michael Koscielny s remarks on the importance of volunteering to make a difference, all attendees were exposed to timely Society insights and fresh leadership ideas. Throughout the three-day event, numerous workshops were conducted for attendees that will likely shape their approach to leadership in and outside their Chapters and throughout their careers. April 20, 2018 NH CPCU Chapter Monthly Meeting

3 If you missed the April 20 NH Chapter meeting that was held at Liberty Mutual s Dover, NH office, you missed a highly-engaging and profoundly interesting speaker, Steven Vitali, Architect at Liberty Mutual. Mr. Vitali is an insurance industry technology leader in the areas of enterprise architecture and software development. Chapter members present and those participating via Skype at this luncheon meeting heard Mr. Vitale share how Artificial Intelligence and Machine Learning (AI/ML) support business innovation and digital transformation in an ever-changing world. The best way to describe the world of today is to use Steve s analogy. Think Legos build it today, take it apart tomorrow and build it again differently. In other words, because Liberty Mutual 100 Liberty Way Dover, NH machines now can learn without being programmed, our challenge is to break things down into their smallest pieces of data. Using such data from internal, external and 3 rd party sources, machines are trained. Steve explained the process of training the machine as follows: Algorithms plus Trained Models minus Business Logic = Rules. The acronym IFTTT (If this, then that) explains the process in layman s terms. We experience the result of this approach when we talk to Alexa or Google. Carrie Tasker-Miller, Steven Vitali and Dan Sepulveda at Dover April Chapter Meeting With someone like Steve scaling new technology and public cloud enablement for global support platforms, the insurance industry is certainly well represented. Thanks to Brenda Buck for her notes and pictures. NH Chapter Announces Election of a New Vice President

4 On April 30, 2018, Dan Sepulveda, NH CPCU Chapter President, announced the results of a special election to fill the vacant NH CPCU Chapter position of Vice President. Brittany Luther, Claims Standards Manager for Managed Care Products at Liberty Mutual was elected. Since joining Liberty Mutual in 2010, Brittany, a graduate of Western Washington University, has excelled in many roles including project management, analytics and systems. She was sworn in by the Society s Upper New England Territory, Northeast Region Governor Andrea Gately, CPCU at the NH Insurance Commissioner s breakfast on May 16, The Chapter is indeed fortunate that someone with such stellar credentials stepped forward to run for this position. Brittany has already had an impact on the Chapter by joining with Carrie Tasker-Miller to coordinate the Chapter s popup event on Wednesday, June 20th at Stone Face Brewing Company in Newington, NH from 5:00-7:00P. Brittany Luther, CPCU Claims Standards Manager Managed Care Products Liberty Mutual Insurance Company Don t miss the opportunity to join in the celebration in glorious San Diego, California from October 13 to 16. Visit to register. May 16, 2018 NH Chapter Meeting and NH Commissioners Breakfast Roger A. Sevigny Commissioner NH Department of Insurance Always a highlight of our year, the NH Insurance Commissioner s Breakfast on May 16 at the Grappone Conference Center in Concord was even more special this year as twenty (20) Chapter members and guests had the opportunity to not only receive Commissioner Sevigny s State of the Industry report but to thank him for his incredible service to the industry as he embarks on new challenges. After sixteen (16) years as NH Commissioner of Insurance, this breakfast was Commissioner Sevigny s last official appearance as Commissioner since he begins his retirement at the end of the month. Joining in the farewell were Assistant Commissioner, John Elias, who was nominated by Governor Sununu to succeed Mr. Sevigny and whose unanimous approval to that position by NH s Executive Council took place later that day, as well as NHDOI Outreach Coordinator, Eireann Aspell.

5 After briefly discussing some current bills in the NH legislature (Balance Billing and the Firefighter s Bill), Commissioner Sevigny spoke fondly of his annual appearance at this breakfast over the years and thought it fitting this would be his last official event. He praised the staff at the NHDOI as the best in the country and said their work with carriers and for NH insurance consumers was exemplary. Addressing the group after Commissioner Sevigny, Mr. Elias said he was excited to get started working in this new role on behalf of New Hampshire. Elias defined his priorities as regulatory modernization, operational efficiency and effectiveness in the pursuit of regulatory value, the use of data to promote market transparency and to improve regulatory accountability and success in the reduction of public harms. Elias has more than 15 years of industry experience, including in compliance and underwriting, as an executive at two (2) property and casualty insurance companies. He joined the NH Insurance Department as property and casualty director in 2016 before being promoted to assistant commissioner. Many in the audience took the opportunity to comment on Commissioner Sevigny s leadership both at the state level and national level. John Elias NH Insurance Commissioner-Elect As mentioned in a previous article, the NH Chapter s new Vice President, Brittany Luther was sworn in by Society Governor Andrea Gately at this event. NH CPCU Chapter Hosts Risk Management Seminar in Keene

6 The NH Chapter offered its first CE class in many years thanks to the talent and willingness to offer his services of Chapter Director, David Hershey. On Tuesday afternoon, June 12, 2018 a small group of insurance professionals gathered at the Main Street America Group in Keene, NH to hear Dave deliver a Risk Management Basics seminar. Mr. Hershey certainly has the credentials to make this topic come to life. As corporate risk manager for a $5+ billion USA and $15+ billion European global diverse organization, his insights were profound. David s prior experience as risk manager for Southeby Holdings, NYC one of the world s premier auction houses and Day & Zimmermann, a large international military contractor providing base and supply support services, only added to the depth and breadth of diverse risks he was able to share with his audience. Hopefully, as the word spreads that the Chapter supports sponsoring seminars for CE credit, more such events will be scheduled. David S. Hershey Corporate Risk Manager Sprague Operating Resources, LLC and Lexa International Calendar of Events As most Chapter members know, vacation schedules dictate that the Chapter take a hiatus as well. As such, this issue of the newsletter does not contain a Calendar of Events. As the Board determines the late Summer and Fall, 2018 schedule, notices will be distributed, and a full calendar will be included in the next issue of this newsletter. Included will be at least one joint NH CPCU Chapter/Granite State Insurance Professionals (GSIP) event. In the meantime, note the dates of the 2018 CPCU Society Annual Meeting (10/13-16) and consider a trip to San Diego, one of the great locations to visit in the USA. * * *