Joseph Mayo chosen to deliver the opening keynote at the 2019 RIMS NextGen Forum!
Please join me at the annual RIMS NextGen Forum in New York City for my session Don’t Tell Me What I Already Know, Tell Me What I Don’t Know.
Since 2010 there has been a 1,000% increase in the frequency of major environmental, social, and governance (ESG) risk events. Data record loss associated with cyber events has increased from 1.5 million records per day in 2013 to 18.5 million records per day in 2018, a 1,200% increase in only five years. The increased frequency and impact of major risk events is a product of the highly complex risk environment of the 4thIndustrial Revolution (4IR) and has senior leaders asking “What risk events don’t I know about?” Incomplete, imperfect, ambiguous and obfuscated information is a characteristic of 4IR and is very problematic for actuarial based risk models. This session examines shortcomings of actuarial models and their ability to accommodate incomplete or imperfect data. The session explores imperfect information decision theory, fuzzy logic, cryptographic anomaly analysis, and risk hunters as ways to mitigate actuarial model shortcomings and offer senior leaders a more complete picture of emerging risk.