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Sources and specific examples on hand when peers push back

$199.00
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A tailored course, built for your situation

Sources and specific examples on hand when peers push back

Build unshakable reasoning for ORSA decisions with documented precedents, regulatory benchmarks, and actuarial logic peers can't dispute

$199 one-time
24-hour access provisioning 30-day money-back guarantee Hand-built implementation playbook
12 modules. 12 chapters per module. 144 chapters total.
12 modules, each with 12 chapters (144 chapters total), text-based, plus downloadable templates and a hand-built implementation playbook delivered alongside course access.

Who this is for

Actuarial associate or risk analyst in an insurance environment contributing to ORSA reporting, seeking to strengthen their technical defensibility in peer review and cross-functional validation settings

Who this is not for

Senior executives seeking board-level summaries, or practitioners outside insurance capital modelling with no exposure to ORSA or related actuarial workflows

What you walk away with

  • Trace every material assumption in an ORSA report to a specific regulatory source or actuarial standard
  • Reference NAIC comments or Solvency II equivalencies when justifying methodology choices
  • Respond to peer challenges with precedent-based reasoning, not defensive justification
  • Build audit-ready documentation that survives leadership turnover
  • Differentiate between principle-based reasoning and opinion-based estimation in capital models

The 12 modules (with all 144 chapters)

Module 1. Mapping ORSA logic to NAIC ORSA Guidance Manual
Anchor each ORSA section to the specific NAIC directive it satisfies, with line references and implementation notes.
12 chapters in this module
  1. Locating requirement intent in NAIC Section 3
  2. Differentiating mandatory from recommended disclosures
  3. Cross-referencing ORSA narrative with ORSA Template Line 8
  4. Using NAIC commentary for capital allocation rationale
  5. How state regulators interpret ORSA Line 12
  6. Documenting departures from NAIC best practices
  7. Building footnote trails to regulatory sources
  8. When to invoke materiality in disclosure decisions
  9. Avoiding over-attribution to non-binding guidance
  10. Version control for NAIC updates
  11. Mapping internal data to NAIC-defined risk categories
  12. Preparing for state-specific follow-ups
Module 2. Solvency II as a benchmark for methodological choices
Use Solvency II standards to justify approaches even in non-EU markets, with clear crosswalks and adaptation rationales.
12 chapters in this module
  1. Translating SCR to TVA in ORSA contexts
  2. Using Solvency II Pillar 2 requirements as validation
  3. Stress-testing alignment with Article 45 assessments
  4. Benchmarking risk aggregation methods
  5. Covariance matrix choices backed by EIOPA
  6. Liquidity risk assumptions from QRTs
  7. Documenting equivalency decisions vs. divergence
  8. When to cite Level 2 vs. Level 3 guidance
  9. MaF integration for group risk views
  10. ORSA narrative adjustments for Solvency II parallels
  11. Regulatory acceptance of partial adoption
  12. Footnoting Solvency II references appropriately
Module 3. Actuarial credibility standards in capital modelling
Apply Actuarial Standard of Practice (ASOP) 46 and related guidance to defend reserving and projection assumptions.
12 chapters in this module
  1. Applying ASOP 46 to ORSA risk assessments
  2. Credibility testing for small data sets
  3. Documenting judgmental overrides with support
  4. Using prior years’ experience as precedent
  5. Adjusting for exposure growth in credibility
  6. Peer-reviewed methods in segmentation
  7. Disclosing confidence intervals meaningfully
  8. Rationale for ignoring external benchmarks
  9. Credibility in non-life vs. life risk models
  10. When internal data trumps industry averages
  11. Actuarial sign-off requirements for ORSA
  12. Working with review actuaries on assumptions
Module 4. Documenting stress-test logic and scenario selection
Justify scenario choices with historical precedent, regulatory input, or economic logic that survives peer review.
12 chapters in this module
  1. Using the current cycle crisis data as baseline stress
  2. Incorporating pandemic-era lapses into models
  3. Interest rate shock design from historical curves
  4. Reverse stress-testing from capital thresholds
  5. Combining shocks without double-counting
  6. Documenting management actions in scenarios
  7. Scenario robustness checks
  8. Time horizon alignment with business planning
  9. Peer comparison of stress-test outputs
  10. Regulatory expectations for plausibility
  11. Sensitivity analysis as a defensibility tool
  12. Presenting tail risks without overstatement
Module 5. Capital allocation logic and peer references
Defend allocation methods using documented industry practices and regulatory expectations.
12 chapters in this module
  1. Top-down vs. bottom-up allocation debates
  2. Allocating capital to non-risk-financial risks
  3. Marginal contribution methods
  4. Co-risk allocation with Shapley values
  5. Documenting diversification benefits
  6. Intercompany reinsurance in capital models
  7. Using economic capital models as anchor
  8. Business unit objections and rebuttals
  9. Adjusting for risk appetite statements
  10. Peer benchmarking of allocation rates
  11. Regulatory tolerance for arbitrary methods
  12. Footnoting allocation assumptions clearly
Module 6. Risk aggregation and dependence assumptions
Justify correlation inputs with data, expert consensus, or documented judgment rather than default values.
12 chapters in this module
  1. Sources for correlation coefficients
  2. Using historical events to validate dependence
  3. Expert elicitation protocols
  4. Default correlations and when to use them
  5. Stress-testing dependence parameters
  6. Documenting non-quantifiable risks
  7. Catastrophe risk and correlation floors
  8. Group-wide vs. legal entity aggregation
  9. Tail dependence in extreme scenarios
  10. Copula choices and their implications
  11. Peer review of aggregation methods
  12. Transparency in unobservable inputs
Module 7. Liquidity and funding risk in ORSA
Build defensible liquidity stress scenarios with balance sheet-specific data and regulatory expectations.
12 chapters in this module
  1. Identifying liquidity-sensitive liabilities
  2. Cash flow timing assumptions
  3. Reinvestment risk in low-duration assets
  4. Liquidity risk in reinsurance recoverables
  5. Documenting liquidity buffers
  6. Stress-testing asset变现 assumptions
  7. Funding concentration risks
  8. Credit line availability under stress
  9. Regulatory expectations for liquidity disclosure
  10. Peer comparison of liquidity coverage ratios
  11. Interaction with investment policy
  12. Contingency funding plans in ORSA
Module 8. Model validation and peer challenge readiness
Prepare for internal reviews with pre-emptive documentation of assumptions, limitations, and sources.
12 chapters in this module
  1. Preparing model validation packs
  2. Documenting data quality limitations
  3. Assumption sensitivity disclosures
  4. Version control for ORSA models
  5. Handling auditor requests for inputs
  6. Reconciling with statutory filings
  7. Change logs for methodology updates
  8. Independent review requirements
  9. When to flag model limitations
  10. Cross-checking with external benchmarks
  11. Documenting peer feedback loops
  12. Retention policies for ORSA artefacts
Module 9. Operational risk treatment in ORSA
Justify operational risk capital inclusion with credible event data, control assessments, and scenario logic.
12 chapters in this module
  1. Using internal loss data for frequency
  2. External data scaling methods
  3. Scenario-based severity distributions
  4. Control effectiveness adjustments
  5. Cyber risk in operational capital
  6. Fraud risk and detection lag
  7. Third-party risk aggregation
  8. Documenting judgmental inputs
  9. Peer comparison of OpRisk allocations
  10. Regulatory expectations for cyber capital
  11. Key risk indicators and thresholds
  12. Linking to IT risk assessments
Module 10. Reinsurance risk and counterparty credibility
Defend reinsurance recoverables assumptions with source-backed counterparty risk assessments.
12 chapters in this module
  1. Reinsurance credit risk by jurisdiction
  2. Rating agency inputs in recoverables
  3. Concentration risk in reinsurer portfolios
  4. Collateral and trust agreements
  5. Default forecasting methods
  6. Regulatory treatment of captives
  7. Documenting reinsurer diversification
  8. Reinsurance in stress scenarios
  9. Peer comparison of collateral levels
  10. Catastrophe exposure overlaps
  11. Reinstatement premium assumptions
  12. Non-payment risk in extreme events
Module 11. Narrative coherence and regulatory expectations
Align ORSA narrative with regulatory expectations using cited benchmarks and logical flow.
12 chapters in this module
  1. Telling a story with capital results
  2. Linking risk appetite to capital level
  3. Explaining risk concentration shifts
  4. Narrative consistency across sections
  5. Using peer data in narrative support
  6. Avoiding contradictory statements
  7. Presenting upside vs. downside risks
  8. Management actions and capital impact
  9. Future-oriented risk statements
  10. Documenting strategic risk inclusion
  11. Regulatory focus areas in narrative
  12. Footnoting narrative assertions
Module 12. Hand-built implementation playbook
Delivered alongside course access: a customisable reference pack with templates, citation libraries, and peer challenge rebuttals.
12 chapters in this module
  1. ORSA assumption register template
  2. Regulatory source citation library
  3. NAIC crosswalk reference sheet
  4. Solvency II comparison matrix
  5. Actuarial standard reference list
  6. Peer challenge response bank
  7. Stress-test documentation pack
  8. Capital allocation justification examples
  9. Risk aggregation methodology bank
  10. Liquidity risk scenario templates
  11. Operational risk input repository
  12. Reinsurance risk assessment guide

How this maps to your situation

  • When a peer questions your capital assumption
  • Before submitting ORSA to internal audit
  • During actuarial review of stress-test design
  • When updating ORSA methodology annually

Before vs. after

Before
Assumptions defended with internal consensus or common practice
After
Assumptions backed by regulatory source, actuarial standard, or documented peer benchmark

What's included with your purchase

  • 12 modules with 12 chapters each (144 chapters)
  • Downloadable templates and worked examples for every module
  • Hand-built implementation playbook delivered alongside course access
  • 30-day money-back guarantee

Delivery and format

  • Course and learning environment access provisioned within 24 hours of purchase
  • Hand-built implementation playbook delivered alongside course access

Format: Text-based modules and chapters in the Art of Service learning environment, plus downloadable templates and worked examples for every chapter, plus the hand-built implementation playbook delivered alongside course access.

Time investment: Approximately 3 hours per module, designed for integration into existing ORSA workflow preparation.

How this compares to the alternatives

Generic risk courses focus on frameworks; this course focuses on defensible reasoning within ORSA using specific, citable sources and precedents. No other resource ties NAIC guidance, Solvency II benchmarks, and actuarial standards directly to ORSA assumption logic.

Frequently asked

Is this course focused on NAIC, Solvency II, or ORSA specifically?
The course uses ORSA as the reporting vehicle, with NAIC and Solvency II as key reference points for defensible reasoning. It’s designed for practitioners in markets where these standards inform capital judgement.
How is the course structured?
12 modules, each containing 12 chapters (144 chapters total).
Will this help me respond to audit questions?
Yes. Every module builds your ability to cite sources, standards, or precedents when defending assumptions during peer or auditor review.
$199 one-time. Approximately 3 hours per module, designed for integration into existing ORSA workflow preparation..

Within 24 hours your account in the learning environment is provisioned and the tailored implementation playbook is delivered alongside it.

30-day money-back guarantee· 144 chapters· Hand-built playbook included· Account access within 24 hours
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