The presenters will lead a discussion of some of the key innovations taking place in the rating and analysis of Commercial Property insurance in the US. The presenters will extend the discussion to the international application of these techniques. 

Analytic capabilities now span a wide range of abilities.  As an example, recent techniques enable accumulation management --- for non-catastrophe perils and for both modeled and non-modeled catastrophe perils. At the individual risk level, engineering-based fire risk rating developed in the US is expanding to international use. Rating programs covering wind risk in the US have been enhanced to evaluate and measure wind resistive characteristics at the individual building level.  The programs combine a variety of data gathering and data management techniques, with statistical analytics, and predictive models. The program develops a rich source of data for use in even more specific loss modeling.

Regions of the world and individual countries have progressed in different ways and at different rates. Yet, some trends are evident and they are propelling a globalization of the data and analytics used in the industry. Governance of insurers, including Solvency II and other external regulatory requirements, is evolving rapidly and spurring new analytics which managements seek to apply throughout their organizations --- with cohesiveness of decisions all the way from enterprise-wide decisions to individual account underwriting decisions. Likewise, the quest to achieve better data and associated analytics is rapidly progressing. Techniques developed in one geographical area are tested to check their applicability in other areas. Quantitative analysis and modeling is increasingly the norm, helping to inform decisions in the face of the intrinsic uncertainty that characterizes the industry.

A discussion of some examples of the latest innovations and techniques should offer opportunities for fruitful discussion at the Congress.