of this event will be available post-event in DropBox format, subject to speaker authorisation.
PPOs are a significant feature of insurers' and reinsurers' balance sheets already and are having an impact on pricing and capital modelling efforts of GI actuaries. The Periodical Payments Orders Working Party has been at the forefront of advising GI actuaries about the impacts on their work.
Attendees at this market briefing will hear an update on the results of the quantitative analysis carried out by the Periodical Payment Order (PPO) Working Party. This will cover quantitative trends of PPOs as at 2020 year-end, including PPO propensity, analysis of PPO settlements by age and size of claim, possible behavioural trends as a result of Ogden discount rate changes and other factors. The event will also include an insight into the potential impact of COVID-19 on PPOs.
Speaker, Robert Treen, will present the results of analysis completed by the Motor Third Party Working Party, highlighting trends in claims costs of UK Motor claims separately by frequency / severity and by heads of damage based on data as at the end of 2020. The working party had access to a huge data set representing over £8 billion of earned premiums for the 2020 year, hence the analysis has a very credible base and shows important trends in claims costs including the impact of COVID-19.
is a senior analyst at Willis Towers Watson with 4 years of experience in the insurance industry, mainly focusing on Lloyd’s and London Market reserving. Chris has been involved in the qualitative and quantitative streams of the PPO Working Party for 3 years and has been a member for the last 2 years.
Analyst at WTW, has assisted with the production of the qualitative and quantitative surveys for the PPO Working Party since joining the WTW Insurance Consulting and Technology team in 2020.
Director at Willis Towers Watson, has extensive reserving experience for both UK Motor insurers and reinsurers. He is the co-chair of the Third Party Working Party having joined in 2013 and is responsible for the industry analysis for the working party.
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