Dave Ingram

Riskviews is produced by

David N Ingram, CERA, FRM, PRM
Executive Vice President
Willis Re

This blog is an outside business activity. As such, Willis Re does not review or approve materials presented herein. By viewing or participating in discussion on this blog, you understand that the opinions expressed within do not reflect the opinions or recommendations of Willis Re, but are the opinions of the author and individual participants.

Photo by Deanne Fitzmaurice

Dave is a member of Willis Re’s Analytics team based in New York. Dave provides ERM, risk  assessment and capital management advisory services to Willis Re’s insurance clients.

The commentary on this blog are solely the responsibility of Dave Ingram and do not necessarily reflect the opinion of his employer.

Dave was previously the Senior Director, ERM in the Insurance Ratings Group of Standard and Poor’s, New York. In that position, he spearheaded S&P’s initiative to incorporate ERM as one of the primary ratings criteria and the development of the framework for reviewing economic capital models. Dave also was co-author of the criteria that S&P is implementing to add consideration of ERM practice into all corporate ratings.

In addition, Dave was a Consulting Actuary with the New York Office of Milliman for 7 years. He consulted on risk management and risk analysis. Dave also has more than 20 years of actuarial and general management experience in the insurance industry where he served as corporate actuary, business unit head, planning officer, ALM actuary and pension actuary for a major US insurance company.

Dave has authored over 40 published articles relating to ERM. His paper “Risk and Light” won the 2009 Best Practical Paper award at the ERM Symposium. He has spoken on ERM at over 100 events organized by PRMIA, GARP, SOA, CAS, IAA, ASTIN, Groupe Consultatif, World-Bank, Goldman Sachs, and S&P in North America, Asia, Europe, Australia, Africa and South America. He has been the founder and Chair of the SOA Risk Management Task Force and the first Chair of the 3000 member Joint SOA/CAS/CIA Risk Management Section. He is a member of the board of ERM-II. He founded the International Network of Actuarial Risk Managers.  Dave is currently the chair of the Enterprise and Financial Risks Committee of the International Actuarial Association.

Dave is a graduate of Lehigh University with a BA in Mathematics and a concentration in journalism.

Archive of Ingram’s Publications

http://www.linkedin.com/in/daveingramerm

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15 Comments on “Dave Ingram”

  1. riskviews Says:

    8 Recent ERM Articles

    What to Do About Emerging Risks…
    Managing emerging risks requires more than just blue sky sessions to identify the black swans and unknown unknowns in the imagination. Actions must be taken to evaluate the potential impact of these risk and plan for their emergence and track their approach.
    http://blog.willis.com/2013/04/what-to-do-about-emerging-risks/

    ERM in the Hierarchy of Corporate Needs
    Businesses have a hierarchy of needs just like individuals. ERM helps to provide for one of those needs, but not the highest need. This puts the importance of risk management into the perspective that boards and executives may have.
    http://www.soa.org/Library/Newsletters/The-Actuary-Magazine/2013/june/act-2013-vol10-iss3-ingram.pdf

    Creating a Risk Management Culture
    Often risk culture is talked about as the tone at the top. To make that tone permeate the entire corporate culture, executives and managers need to talk the risk talk constantly.
    http://www.soa.org/Library/Newsletters/The-Actuary-Magazine/2013/april/act-2013-vol10-iss2-ingram.pdf

    Discovering empirical risk appetite
    More than half of all insurance companies lack a fully formed risk appetite statement. But in the course of normal operations, many decisions and actions are taken that if examined properly will reveal an empirical risk appetite.
    http://www.willisre.com/documents/Media_Room/Publication/WillisRe_Analytics_Review_2013_Issue_online_version.pdf

    Get Ready for ORSA
    US insurers need to learn a new word – ORSA. It stands for Own Risk and Solvency Assessment. By 2015, all insurers with more than $500M of premiums need to prepare an ORSA report to be filed with their state regulator. A few are ready for this but most will need to do significant preparation.
    http://blog.willis.com/2013/02/u-s-insurers-need-to-get-ready-for-orsa/

    Help Wanted: Risk Tolerance
    Only the experienced need apply. Insurers with a history of risk measurement have a much easier time with forming their initial risk appetite statement. Firms without that experience will have a hard time coming to a final conclusion.
    http://www.soa.org/Library/Newsletters/The-Actuary-Magazine/2013/february/act-2013-vol10-iss1-toc.aspx
    A framework for validating your Economic Capital Model
    In the last several years, economic capital models have become ubiquitous for larger, complex insurers and now a broader swath of the industry is beginning to examine the potential benefits. The users of model outputs need assurance that the economic capital model adheres to its guiding conceptual principles, aligns with prior editions of the same model, and conforms to standards imposed by the regulator. Model validation is the process of confirming these qualities.
    http://www.willisre.com/documents/Media_Room/Publication/WillisRe_Analytics_Review_2013_Issue_online_version.pdf

    Trifurcation:Divide to Conquer Risk
    Risk analytics often portray risk as a single quantity. But risk has many aspects. By splitting the projected future possibilities into three tranches, some new insights into the impact of different risk mitigation alternatives can be found.
    http://www.soa.org/library/newsletters/risk-management-newsletter/2012/december/jrm-2012-iss26-ingram.aspx


  2. […] Dave Ingram, FSA, CERA is a member of Willis Re’s Analytics team based in New York. Dave provides ERM, risk assessment and capital management advisory services to Willis Re’s insurance clients. The commentary in this post is solely the responsibility of Dave Ingram and does not necessarily reflect the opinion of his employer or the SOA. This post is republished with permission from Riskviews. […]


  3. […] don’t portray myself to be either a statistician or an actuary but I do have the (mis)fortune of having some idea about how probabilities and odds work and often […]

  4. riskviews Says:

    New S&P Level III analysis
    http://www.insuranceerm.com/analysis/sandps-level-iii-erm-review-promises-capital-rewards.html

  5. riskviews Says:

    Fabric of ERM http://www.soa.org/library/newsletters/the-actuary-magazine/2010/december/act-2010-vol7-iss6-ingram.pdf A new article that describes the different approaches to ERM that are found.


  6. […] bloggers and Tweeters such as Chairman Emeritus Felix Kloman, Keith Baxter, Don van Deventer, Dave Ingram, Craig Rowe, Tim Leech, Rick Nason, Gary Patterson, Ken Simpson and others whose identities are […]

  7. Dave Ingram Says:

    The Many Stages of Risk
    http://www.soa.org/library/newsletters/the-actuary-magazine/2009/december/act-2009-vol6-iss6-ingram.pdf

  8. Dave Ingram Says:

    Trading Risks
    http://www.contingencies.org/novdec03/trading.pdf

  9. riskviews Says:

    Quoted in the WSJ today.

    http://online.wsj.com/article/SB10001424052702304370304575152212605720290.html?mod=WSJ_Careers_CareerJournal_4

  10. esther wairimu kamau Says:

    your talk on risk management in nairobi university on 18th november has helped me a great deal.Thank you

  11. riskviews Says:

    The Stages of Risk in The Actuary Magazine
    http://soa.org/library/newsletters/the-actuary-magazine/2009/december/act-2009-vol6-iss6.pdf

  12. riskviews Says:

    At the 2009 ERM Symposium, Dave presented a paper entitled Risk & Light. http://www.ermsymposium.org/2009/pdf/2009-ingram-risk-light.pdf

    And also gave the Luncheon address on Thursday titled “Group (Risk) Therapy. http://www.soa.org/files/pdf/2009-chicago-erm-ingram-02.pdf

  13. riskviews Says:

    Dave has made several contributions to CAS efforts in the ERM area.

    Including an article for the Actuarial REview about the question of the failure of ERM at banks.
    http://www.casact.org/newsletter/index.cfm?fa=viewart&id=5726

    And a paper on the roles of actuaries in ERM for the CAS E-Forum
    http://www.casact.org/pubs/forum/09wforum/ingram.pdf

  14. riskviews Says:

    In 2008 and 2009, Dave had contributed a series of articles to Insurance Risk and Capital Ezine.

    Beware the “sunny day” approach to ERM
    http://www.insuranceriskandcapital.com/opinion/beware-the-sunny-day-approach-to-erm
    Boards should question risk management reports based solely on a recent benign environment, argues Dave Ingram of Willis Re ERM can be similar to the roof of a house. Many days of the year, it…

    What you don’t know can hurt you
    http://www.insuranceriskandcapital.com/analysis/what-you-dont-know-can-hurt-you
    Dave Ingram and Johann Meeke of Willis Re describe the sound practices needed to make emerging risks management work as a process for preparing for “unknown unknowns.” Benjamin Frank…

    Risk and the art of downhill skiing
    http://www.insuranceriskandcapital.com/analysis/risk-and-the-art-of-downhill-skiing
    Insurers can exploit risk knowledge in the same way that skiers do, argues Dave Ingram Insurers take risks from others and seek to manage those risks to make a profit. In the course of taking…

    The modellers, not the models, failed
    http://www.insuranceriskandcapital.com/analysis/the-modellers-not-the-models-failed
    … are not at all precise in their application to the complex real world,” argue Athula Alwis and Dave Ingram. Have you ever heard anyone say that their car got lost? Or that they got into a…

  15. riskviews Says:

    From 2005 until 2008, Dave served as Senior Director, ERM at S&P in the Insurance Ratings area. In that role, he developed the criteria that was used by S&P for rating insurers and led the implementation of that process globally. S&P published published a number of articles about those criteria and the results of that process. Available here http://www.standardandpoors.com/ratings/erm/en/us

    NEW LINK!!


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