Insurance System in the Czech and Slovak Republic 2007 - Internationale - Asigurari - Totul...

Insurance System in the Czech and Slovak Republic 2007

Insurance Industry of CR & SR - How to Approach New Challenges?

November 27 - 28, 2007, Prague, Hotel Marriott

Moderator : JUDr. Jozefina Zakova, CEO, Slovak Insurance Association, Bratislava

8:30 Reception and handout distribution

9:00 Welcome speech - Institute for International Research and the daily moderator

9:10 Current State, Potential and Future Development of Czech and Slovak Insurance Market

· Why does the insurance market stagnate, even if all macroeconomic indices are exceedingly positive?

· What impulses are necessary to restart the growth of insurance rates? Comparison with the tendencies in Europe and worldwide - quality and parameters of insurance products, lower insurance, distribution channels

Ing. Tomas Sikora, CEO, Czech Association of Insurance Companies, Prague

JUDr. Jozefina Zakova, CEO, Slovak Association of Insurance Companies, Bratislava

10:00 Coffee break

10:20 Macro-Economic Development and its Impact on Insurance Market

· Is insurance business a cyclic industry?

· Key macro-economic indicators and their impact on insurance market

· Specifics of domestic insurance market

· How will insurance companies stand in the period of rising interest rates?

· Impacts of governmental economic reforms

· Will the entry to Eurozone help the insurance companies?

RNDr. Pavel Sobisek, Chief Economist, HVB Bank Czech Republic a.s.

10:50 Update of Solvency II

· New framework of Directive

· QIS 3 results

Yannis Pitaras Solvency II Project Manager, the European Insurance and Reinsurance Federation, Brussels

11:50 Lunch

13:00 Development Possibilities of Private Health Insurance

· Models of private health insurance, advantages and disadvantages

· Current situation and impact of the expected reform of the health system

• What position is held by Czech and Slovak insurance companies in this sector?

· Functionality of legislature - is it sufficient?

MUDr. Pavel Hrobon, Vice-minister of Health, Ministry of Health of the Czech Republic, Prague

Ing. Ladislav Friedrich, CSc., CEO, Industrial Health Insurance Company for Employees of Banks and Insurance Companies, Prague

14:15 Coffee break

14:30 New Legislature in Czech and Slovak Republic - What Changes will it Bring, Is there anything to Apprehend?

· What are the main paradigms and controversies of the forthcoming Insurance Law

· What will be the specification of basic conditions such as creation of technical reserves, financial investments or control of reinsurance companies owners and their operation within divisions?

· What direction adaptations concerning direct life and non-life insurance can be expected?

· Amendment of Damage Liability Law

· Analysis of impacts on insurance market

PhDr. Vladimir Prikryl, Legislative and Law Department Official, Ministry of Finance of the Czech Republic, Prague

JUDr. Dusan Katonak, Head of Financial Services Department in Insurance Sphere, Ministry of Finance of the Slovak Republic, Bratislava

15:45 Evaluation of Consolidated Supervision over Insurance Market Conception

· Operation analysis of consolidated supervision in the Czech and Slovak Republic

· Is innovation possible?

· What is a reasonable rate of regulation?

· What impacts will the forthcoming legislative amendments have on particular types of insurance?

Ing. Karel Gabrhel, Regulation Section Director, Czech National Bank, Prague

Mgr. Julia Cillikova, Regulation and Risk Management Methodology Department Director, National Bank of Slovakia, Bratislava

16:45 Preparations for Pension Reform in the Czech Republic

· Pension system on the crossroads - total resignation, slight improvement within the law or a reform?

· Is the reform in CR possible?

· Insight via political benefits and costs

· Lets not discover America (or experience from neighbouring countries)

· Time is money

Ing. Vladimir Bezdek, M. A., Chairman and CEO, AEGON Penzijni fond, a. s., pojistovna Aegon, a. s., Prague

17:30 How Can Information Technology Assist Changes in Insurance Company

· How to be prepared for changes?

· Information technology - fourth pillar?

· Is it possible to make savings in increasing estimates for IT?

· Trends for information technology not only in the financial sector

Ing. Antonin Mrkva, Business Development Director, ORBIT s.r.o.., Prague

17:50 Concluding recapitulation of the first day by the daily moderator

18:00 Cocktail following

Cocktail

IIR cordially invites you for a glass of wine at the close of the first day of the conference. You are welcomed to share your views with your colleagues in an informal, pleasant atmosphere of this occasion.

PARALLEL SECTION:

Moderator: Ing. Petr Safranek, Director, Association of Financial Intermediaries and

Financial Advisers of Czech Republic, Prague

9:00 Opening speech by the daily moderator

9:10 Trends in Life Insurance in Views of AXA zivotna pojistovna a. s.

· Existing individual types of insurance and their comparison according to purpose

· Capital and capital redemption life insurance - what are their possibilities and perspectives?

· New types of insurance - what are the trends and requirements?

· How to motivate clients to higher consumption of insurance products?

Ing. Petr Zaluda, CEO, AXA zivotni pojistovna a. s., Prague

9:50 Coffee break

10:10 Trends in Life Insurance in Views of UNIQA pojistovna a. s.

· Development of life insurance market in CR and abroad

· Role of individual marketing channels in life insurance sales

· What is the role of life insurers in the pension reform?

· UNIQA concern and life insurance

Ing. Marek Venuta, CEO, UNIQA pojistovna, a. s., Prague

10:45 Role of Pension Funds in the Scope of the Pension Reform

· Contributory pension scheme vs. life insurance

· What are the challenges and new opportunities for pension funds?

· The future of pensions system in the context of the pension reform

Ing. Jiri Rusnok, Advisor of ING Executive Board for CR a SR, ING zivotni pojistovna, a. s., Prague

11:20 Panel debate: Comparison and Perspectives of Individual Financial Products

· Shares funds as main competitors of capital redemption life insurance- what are the trends?

· What are the perceptions of existing tax advantages of shares funds and savings in a building society as opposed to pension funds and capital redemption life insurance?

· What are the prospects of development of above-mentioned products?

Ing. Jiri Rusnok, Advisor of ING Executive Board for CR and SR, ING zivotni pojistovna, a. s., Prague

Pavel Rehak, Retail Marketing Deputy, Ceska pojistovna, a. s., Prague

Pavel Slovak, Promotion of Financial Market Products Ceska sporitelna a.s., Prague

Ing. Jiri Sedivy, Secretary of The Association of Czech Buildings Savings Banks, Director of Stavebni sporitelna Ceske sporitelny, a. s., Prague

Prof. Ing. Jaroslav Vostatek, CSc., Academic Employee, Technical University of Liberec

PaeDr. Roman Holcek, Chairman of Amslico AIG LIFE poistovna, a.s., Bratislava

12:20 How to Ensure Transparency of Life Insurance Products?

· Why should the capital formation life insurance products be more transparent?

· Universal life insurance as an example of absolutely unclear product

· Problems concerning the noncommittal nature of rates arising from the insurance agreement

· Two ways to transparency - disclosure and rates effectuality and capital value flow as statutory part of an agreement

Ing. Petr Safranek, Director, Association of Financial Intermediaries and Financial Advisers of Czech Republic, Prague

13:00 Lunch

PARALLEL SECTION:

Moderator: JUDr. Lucian Besterci, PhD., Liability Insurance Department, Kooperativa

poistovna, a.s., Bratislava

9:00 Opening speech by the daily moderator

9:10 Evaluation of the Non-Life Insurance Market from the Point of View of the Insurance House

· Problems of actual rates development - up to where can they fall?

· What are the possibilities of eliminating the undesirable course of action?

· Evaluation of group products profitability

JUDr. Lucian Besterci, PhD., Liability Insurance Department, Kooperativa

10:30 Coffee break

10:50 Insurance of Industrial Risks - Current Development in Changing Environment

· Which economic and ecologic factors influence the insurance of industrial risks?

· Which new industrial technologies are being adopted as a response to insurance market reactions?

· Evaluation of existing and novel types of risks - insurers/reinsurers reactions

· New EU Directive for environmental protection - what changes are to be expected?

· Case study - operating interruption
JUDr. Vaclav Honig, Non-Life Insurance Division Director, Ceska podnikatelska pojistovna, a.s., Praha

12:00 On what Basis are the Insurance Brokers Evaluated by their Clients?

· What are companies' expectations regarding the services of their brokers?

· How companies select their insurance broker

· Which insurance is the most commonly arranged by companies?

· What is the prestige of the insurance broker profession?

Ing. Ivan Spirakus, Executive, Insia, s. r. o., Prague

13:00 Lunch

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Change Over from Sections to Joint Program

Moderator: JUDr. Lucian Besterci, PhD., Liability Insurance Department, Kooperativa

poistovna, a.s., Bratislava

14:00 Effective Deployment of IT in the Insurance Sphere

· Perspectives and development in the insurance sphere

· What are the challenges met by insurance providers when implementing their business

strategies?

· What is the role of technology in this process?

· Unique solution of CSC

Jean Charles Miginiac, FSG EMEA Insurance Director, CSC Computer Sciences EMEA, France

14:20 Development of the Romanian Insurance Market

AlexandruD. CIUNCAN, Head of International Relations Department, XPRIMM Newsletters Coordinator, Media XPRIMM, Bucharest

14:50 Coffee break

15:05 Business Intelligence Application in the Insurance Company of Ceska sporitelna, a. s.

· Business production analysis

· Costs and returns analysis

· Products profitability evaluation

· Effective planning and decision making

Ing. Michal Vosmansky, Analyst, Computer Programmer, MULTIMA a. s., Prague

15:25 Bank Assurance - How Does it Work on the Czech Market?

· What is the basic concept of bank assurance?

· Undeniable advantages: costs savings, utilisation of common marketing, distribution network etc. - how to make the most of them?

· Bank assurance trends in Europe as compared with the situation in Czech and Slovakia

Ing. Ivana Bohatcova, Bank Assurance Segment Administration Manager, Ceskoslovenska obchodni banka, a.s, Prague

16.10 CCB

Roger K. Walsh, Associate Director, CCB-Czech bureau, a.s. - CRIF Group

16:30 Insurance Frauds are Becoming Increasingly Cunning - How to Tackle Them?

· Where can the desire for face amount payment lead to?

· What are the most problematic areas?

· How can the insurance frauds be effectively eliminated?

Ing. Pavel Vychodsky, Insurance Fraud Prevention Department Chairman, Czech Association of Insurance Companies, Prague

17:10 How to Establish an Effective Channel for Distribution?

· Existing models and sales network support - advantages and disadvantages

· New trend: broking channels for distribution

· How to attend to cooperation and client service?

· Problematic questions: inequality of provision

Ing. Tomas Prouza, MBA, Vice-Chairman, Partners For Life Planning, a.s., Prague

17:50 Concluding recapitulation of the day by the daily moderator

18:00 End of the day

Moderator: Ing. Vaclav Krivohlavek, CSc., Professor, Academic Council Member, The Institute for Finance and Administration, Prague

9:00 Opening speech - Institute for International Research and the daily moderator

9:10 Solvency II and Risk Management - Basic Scope

· Solvency II Directive requirements for risk management system

· CP 13 principles for 2^nd Pillar

· What will be the necessary changes in insurance companies

Ing. Stepan Onder, PhD., BTAI s. r. o., Prague

10:40 Coffee break

11:00 Risk Management in an Insurance Company - Integral Part of the Second Pillar of Solvency II

· Basic risk division in an insurance/reinsurance company with the emphasis on insurance and operational risk

· ERM significance

· Employed ERM standards and their comparison

· ERM process - from environment creation to ERM monitoring and revision implementation

· Inside control and internal audit role in the ERM process

Ing. Vladimir Pulchart, CEO, MAXIMA pojistovna, a.s., Prague

12:00 QIS 3 Output and Directive Proposal

Mgr. Monika Stastkova, Methodology and Control Standardisation Division Director, Czech National Bank, Prague

12:30 Lunch

13:30 Operational Risk in Insurance Companies

· Operational risk event collection

· Risk and Control Self Assessment (RCSA)

· Key Risk Indicators (KRI)

· Prevention

· Business Continuity Management

· Stress scenarios

· Operational risk analysis

14:45 Coffee break

15:00 Model Building within Solvency II

· In real-life working approaches (Swiss, Dutch, German model)

· QIS 3 approaches

· Directive approaches

· Intrinsic approaches (Internal model)

Ing. Mgr. Vaclav Novotny, CEO, Advanced Risk Management, s.r.o., Prague

16:30 Concluding recapitulation of the special day by the daily moderator

16:40 End of the special day