May 23-25, 2023 | Louisville, Ky.

Agenda

Subject to change without notice. All times listed are in Eastern Time.

LOOK FOR THESE TOPICS ON THE 2023 AGENDA

  • Reinsurance Market Outlook
  • Cybersecurity Essentials
  • Hiring the Next Generation of Talent
  • Impact of Social Inflation
  • Maintaining Proper Insurance-to-Value
  • Structure Insurance Scoring
  • Strengthening Agent Relationships
  • Merger and Acquisition Considerations and Implications
  • Investment Fundamentals for Insurance Company Leaders
  • Alternative Ratemaking Methodologies
  • Operational Efficiency Through Automation
  • Cultivating Your Organization’s Next Generation of Leaders
  • Rapid-Fire Session on Emerging Issues
Tuesday, May 23, 2023 (In EST)
7:00 AM - 11:30 AM

FMDC Bonus Sessions Package

This add-on package is perfect for those looking to earn the Farm Mutual Director Certification without attending multiple events. Participants who attend these sessions in addition to the core and elective FMDC courses offered during the standard agenda will be fully certified by the end of the event. Those already working toward certification can register for this bonus package to complete three of the six required core courses. This package includes a continental breakfast. Registration includes the following courses, presented by experienced faculty from NAMIC's Directors' Bootcamp:

  • Corporate Governance and Role of the Board
  • Insurance Accounting and Investment Fundamentals
  • The Board's Role in Planning
7:00 AM - 5:15 PM

Registration and Event Information Desk | 5/23

12:00 PM - 1:30 PM

Optional Networking Lunch

Join us for an optional networking lunch to connect with fellow attendees prior to the official start of Farm Mutual Forum. Take this time to eat and make connections that will last throughout the event.

1:30 PM - 5:00 PM

Solutions Showcase | 5/23

2:00 PM - 3:15 PM

NAMIC Welcome and Opening Keynote Address

3:15 PM - 3:30 PM

Networking Break | 3:15 p.m.

3:30 PM - 5:00 PM

Peer-to-Peer Roundtable Discussions

5:00 PM - 6:30 PM

Welcome Reception

Wednesday, May 24, 2023 (In EST)
7:30 AM - 9:00 AM

Attendee Breakfast | 5/24

7:30 AM - 4:30 PM

Registration and Event Information Desk | 5/24

 

Solutions Showcase | 5/24

9:00 AM - 9:50 AM

A. Cybersecurity Essentials

We will take a deep dive into understanding cyber risks that a company or agency will face within their daily business activities. In this session, you will better understand the mindset of a Cyber Underwriter, how they review an application, security control requirements, and other mitigating factors.

 

B. FMDC Core: Insurance Company Operations and Reinsurance

This session will provide a high-level focus on how an insurance company works. By the end of the presentation, attendees will have a basic understanding of insurance company operations such as insurance principles and the difference between stock and mutual companies. They will also understand reinsurance, including the importance of it and how it works.

 

C. PFMM Session: Underwriting Property and Liability Part 1

This three-part session examines the importance of developing underwriting guidelines, provides an overview of the tools available for underwriting, and explores the potential risks and exposures that come with underwriting property and liability. Also covered in this course will be basic understandings of evaluating rate adequacy, cash value versus replacement cost, insurance to value, the renewal process, reasons for cancellations and non-renewals, and the importance of file audits. Case studies will provide real-life context throughout this session, which is required for those working toward the PFMM certification.

9:50 AM - 10:10 AM

Networking Break | 9:50 a.m.

10:10 AM - 11:00 AM

A. Impact of Social Inflation

 

B. FMDC Core: Insurance Audits and the Basics of Actuarial Work

This session will provide a high-level focus on audits, committee responsibilities, and rate-making fundamentals. By the end of this course, attendees will have a basic understanding of insurance audits, the role of an audit committee, and the importance of actuarial work.

 

C. PFMM Session: Underwriting Property and Liability Part 2

This three-part session examines the importance of developing underwriting guidelines, provides an overview of the tools available for underwriting, and explores the potential risks and exposures that come with underwriting property and liability. Also covered in this course will be basic understandings of evaluating rate adequacy, cash value versus replacement cost, insurance to value, the renewal process, reasons for cancellations and non-renewals, and the importance of file audits. Case studies will provide real-life context throughout this session, which is required for those working toward the PFMM certification.

11:00 AM - 11:20 AM

Networking Break | 11:00 a.m.

11:20 AM - 12:10 PM

A. The Agent Company Partnership

This session will discuss the things that are really important to agents when they decide what company to place their business with. We will look at what it means to be partners, the value of the agency/company relationship, and ways to encourage growth with agencies. While agencies must differentiate themselves from all of the other agencies in the area, companies must also differentiate from the other companies in an agency to become the carrier of choice.

 

B. FMDC Core: Enterprise Risk Management and Evaluating Company Growth

This session will provide a high-level focus on the board’s role in managing risk and evaluating growth. By the end of the presentation, attendees will have a basic understanding of enterprise risk management and know how to identify and measure risk exposure, risk profiles, and the impact of human resources and employment practices on company’s risk. They will also be able to evaluate company growth, including the board’s role in evaluating growth and setting growth policy, geographic risk concentration, and growth’s impact on surplus.

 

C. PFMM Session: Underwriting Property and Liability Part 3

This three-part session examines the importance of developing underwriting guidelines, provides an overview of the tools available for underwriting, and explores the potential risks and exposures that come with underwriting property and liability. Also covered in this course will be basic understandings of evaluating rate adequacy, cash value versus replacement cost, insurance to value, the renewal process, reasons for cancellations and non-renewals, and the importance of file audits. Case studies will provide real-life context throughout this session, which is required for those working toward the PFMM certification.

12:10 PM - 1:10 PM

Attendee Lunch

1:10 PM - 2:00 PM

A. Maintaining Proper Insurance to Value in an Inflationary Environment

As inflation has reared its ugly head for the first time in decades, carriers are challenged to manage the impact to growth and profitability for both the short and long term. This session will explore the impacts that inflation is having on many different parts of the insurance ecosystem. In a highly interactive session, the panel will explore with attendees the impacts, challenges and strategies that primary carriers, reinsurers and vendor companies are utilizing to manage these changes.

 

B. Hiring the Next Generation of Talent: How to Level the Playing Field

 

C. Automation Tools for a Hyper-Efficient Office

Over the last 5 years there has been an explosion of automation tools intended for non-programmers. In this session we will review the tools that are available, which tasks are ideal for automation, and what resources can help them dive deeper.

2:00 PM - 2:20 PM

Networking Break | 2:00 p.m.

2:20 PM - 3:10 PM

A. Reinsurance Market Outlook

 

B. 2023 Economic and Financial Market Outlook

Recession, inflation, and interest rates are big discussion points across the country for every talking head in the media. While some of the pundits may have intelligent views on the markets some are hyperbolic in their reaction to daily news. In our approach to assessing the market and economy we take a much more analytical viewport as investors who are working in these conditions each day. Our 2023 Economic and Financial Market Outlook will go over the impact of 2022 and how we view current national economy and the factors driving the equity and fixed income financial markets.

 

C. Alternative Ratemaking Methodologies

3:10 PM - 3:30 PM

Networking Break | 3:10 p.m.

3:30 PM - 4:20 PM

A. Structure Insurance Score – Designing New Pricing Variables

Pricing is an important part of an insurer’s day to day operations. New and effective pricing variables can take time to develop, but sometimes options exist to improve pricing structures with minimal time and resource investment – which can have a tremendous impact on an insurer’s bottom line. We will discuss ways to manage the level of risk inherent in a property by taking advantage of data and products available through public data sources, advisory organizations, and vendors. We will also explore in depth the Structure Insurance Score, which has been shown to improve homeowners’ loss ratios by as much as three points.

 

B. Merger and Acquisition Considerations and Implications

 

C. Rapid-Fire Session on Emerging Issues

Thursday, May 25, 2023 (In EST)
7:30 AM - 9:00 AM

Attendee Breakfast | 5/25

7:30 AM - 11:00 AM

Registration and Event Information Desk | 5/25

 

Solutions Showcase | 5/25

9:00 AM - 9:50 AM

General Session

9:50 AM - 10:10 AM

Networking Break | 5/25

10:10 AM - 11:00 AM

Closing Keynote Session

Contacts

Kim Bates
Member Concierge – Member Experience

317.875.5250

  Kim